Apple ecosystem the biggest blue-collar job creator for India! Since the launch of the Production-Linked Incentive (PLI) scheme for smartphones in August 2021, the Apple ecosystem has emerged as a major job creator in India. Directly employing over 150,000 individuals, it stands as the largest blue-collar employer in the country. Government officials and experts told … Read more
Private equity major, Advent has sold 10% stake of Eureka Forbes (EFL). Advent had acquired Eureka Forbes from Shapoorji Group in September 2021 through a SPV, Lunolux Limited. Before this sale, Lunolux held 72.56% of EFL. 10% stake has been sold at an average price of Rs 506.06/ share totalling Rs 979 cr. Previous day’s … Read more
Whirlpool Corporation, the American parent has sold 24% stake in its Indian entity, Whirlpool of India. Stake has been sold in the open market for a total value of $468 mn. Sale happened at Rs 1,277/ per share, a discount of 4.5% to the previous day’s closing price. Purpose of the sale has been mentioned … Read more
Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries (RIL) has announced raising Rs 8,278 cr from Qatar Investment Authority (QIA). Investment is raised at a pre-money equity valuation of Rs 8.278 lakh crore QIA will get 0.99% stake in RRVL on a fully diluted basis This fund raise effectively doubles RRVL’s valuation in … Read more
On Thursday, the Indian government issued a notice imposing immediate restrictions on the import of laptops, tablets, and personal computers. “Their import would be allowed against a valid licence for restricted imports,” said the notice issued by the Ministry of Commerce and Industry, Department of Commerce, Government of India. As per the notice issued by … Read more
The CMD has shared the following – Havells India is going to venture into electronic manufacturing service (EMS) or contract manufacturing space for appliances such as air-conditioners and washing machines to cater to the increasing demand of global brands to have an Indian manufacturing base (and hence reduce dependence on China). On a pilot basis, … Read more
The metaverse has a loneliness problem. Mark Zuckerberg says Apple’s new headset will make everyone lonelier. But even Meta’s headset is, in the end, someone sitting alone on a couch too. Mark Zuckerberg’s verdict on Apple’s new mixed-reality headset is in: It’s lonesome. “Every demo that they showed was a person sitting on a couch … Read more