india
Ola Electric, India’s largest two-wheeler electric vehicle maker has received the approval from India securities’ market regulator- Securities Exchange Board of India (Sebi) to go public. The Bhavish Agarwal-led company will raise Rs 5,500 crore through a fresh issue, apart from an offer-for-sale (OFS) component of 95.2 million shares, and is likely to list its shares later this year. The Bengaluru-headquartered startup is reportedly eyeing a $6 billion valuation and will be the first EV startup in the country to list itself on the bourses. According to the draft IPO papers, a part of the proc...
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The Nifty 50 index continued its spectacular rally this week as the political temperatures in India cooled. It soared to a high of ₹23,630 on Friday, higher than the year-to-date low of ₹20,620. It has surged by more than 212% from its lowest point in 2020. Most Indian stocks are soaringMost companies in the Nifty 50 index have jumped sharply this year. Mahindra & Mahindra, a leading automobile company, has surged by over 65% this year, making it the best-performing firm in the index. Adani Ports & CEZ stock has jumped by more than 44% while the Shiram Finance, Hero MotoCorp, Cipla, and Bharti...
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The Adani Group, led by Chairman Gautam Adani, has announced ambitious plans to invest over $100 billion in energy transition projects and manufacturing capabilities essential for green energy generation. This substantial investment is set to position the conglomerate at the forefront of India’s renewable energy sector, aiming to capitalize on the nation’s vast potential in energy transition and digital infrastructure. India’s economic growth and market potentialAdani highlighted the broader economic context, predicting that India will add a trillion dollars to its GDP every 12 to 18 months, s...
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Less than two weeks after India’s general elections results were announced, with prime minister Narendra Modi securing a third consecutive term, the debate over Electronic Voting Machines (EVMs) has resurfaced. This time, Tesla founder Elon Musk finds himself caught in the crossfire between the ruling BJP and the opposition over the issue. The EVM debate in Indian politicsEVMs have long been a point of contention in Indian politics. Opposition leaders frequently argue that EVMs are susceptible to tampering, calling for a return to paper ballots. While the debate intensified in the run-up to th...
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The Indian unit of South Korea’s Hyundai Motor Co. has submitted a request for an initial public offering (IPO) to India’s financial regulatory body, marking a significant milestone for the car manufacturer on Dalal Street, Mumbai’s equivalent of Wall Street. This move comes more than twenty years after Hyundai first entered the Indian market. Details of the IPOAccording to the draft red herring prospectus filed with the Securities and Exchange Board of India (SEBI) and reviewed by NDTV Profit, Hyundai Motor India Ltd.’s (HMIL) IPO includes an offer of 142 million shares, representing a 17.5% ...
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Starting with the revolutionary concept of delivering grocery items within minutes, Zomato-owned Blinkit, the market leader in India’s ‘quick-commerce’ (Q-commerce) industry, has broadened its service range. Today, Blinkit delivers not only groceries but also mixer-grinders, ceiling fans, and even printouts of important documents, all with remarkable speed. This expansion into diverse product categories highlights the intense competition within the $2.8 billion market, with rivals like Swiggy’s Instamart and Zepto also vying for a larger market share. Significant investments drive rapid growth...
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South Korean auto giant Hyundai Motor Co’s Indian arm, Hyundai Motor India Limited, is gearing up to file draft papers with market regulator Sebi to raise around $3 billion via an initial public offer (IPO), according to multiple sources. The targeted valuation for the IPO is between $18 billion and $20 billion, which could make it the largest IPO in India’s history. Potential record-breaking IPOIf the listing plans are successful, it will surpass the previous record set by the state-owned Life Insurance Corporation (LIC) of India’s $2.7 billion listing in 2022. “The plan is for the e-filing o...
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Leaders of advanced economies are gearing up for the annual Group of Seven (G7) meeting in Italy, set against a backdrop of ongoing wars in Europe and the Middle East, and increasing competition between the West and China. The summit, hosted in the picturesque region of Apulia, will take place from June 13 to 15 at Borgo Egnazia, a luxury resort. This marks the 50th G7 Summit. Who is coming to G7 summit?The G7 includes the United States, Canada, Germany, France, Italy, Japan, and the United Kingdom. Leaders from each of these countries will attend, along with the chiefs of the European Council...
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The USD/INR exchange rate dived hard on Monday morning ahead of the official Indian election results scheduled on June 4th. The pair slumped to a low of 83, its lowest level since March 20th. It has dropped by 85 basis points from its highest point this year. India election results and RBI decisionThe Indian rupee will be in the spotlight this week as India concludes its election and as the Reserve Bank of India (RBI) delivers its interest rate decision. Exit polls show that Narendra Modi will likely be declared the country’s president for the third term. There are signs that he will reach the...
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The rise of AI-generated content has brought a new dimension to the ongoing mammoth India elections. With over 800 million internet users, political parties are leveraging artificial intelligence to connect with voters in unprecedented ways. From AI-created avatars delivering personalized messages to AI-powered chatbots mimicking the voices of political leaders, the aim is clear: to influence voter behaviour on a massive scale. Driving through the bustling streets of New Delhi recently, I couldn’t help but notice the digital billboards displaying eerily lifelike AI-generated videos of politici...
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