The Sajjan Jindal-led JSW Group has put its plans to build a 50GWh battery cell gigafactory in India on hold after failing to secure a Chinese technology partner because of Beijing’s restrictions on technology transfers, a top company executive said. Speaking to reporters on the sidelines of JSW MG Motor India’s launch of Hector Tomahawk—a … Read more
JSW Group and China’s SAIC are discussing additional capital for MG Motor India to eventually scale the company’s Halol plant capacity to 1 million vehicles annually from the current 2,20,000. The JV, owned 35% by JSW and 49% by SAIC, is currently deploying Rs 3,500 crore in localisation and new products, and is expected to … Read more
Sam Altman says he misjudged how quickly AI would scramble the economy. In an interview with David Senra, posted on Sunday, the OpenAI CEO said he believed GPT-4’s 2023 release would quickly put more software businesses “up for grabs.” Instead, he said he’s seen customers and companies largely sticking with familiar products and routines. “I … Read more
Ficci president Anant Goenka Tuesday said businesses have flagged concerns over current bilateral trade deal between India and Japan, which has resulted in widening of trade deficit since it was signed, and access to market here and suggested changes to regulatory and certification regime.“The other is some amount of cultural opening as well in Japan, … Read more
The Hong Kong-listed shares of Alibaba slumped on Monday after the Chinese e-commerce and cloud computing company launched a $10.2 billion share placement, as investors worried about payback from its massive AI spending. Alibaba said on Sunday its HK$80 billion share placement finalised at HK$112.70 apiece – an 8.4% discount to its Friday close – … Read more
Third Wave Coffee said it raised $43 million in a funding round led by existing investor WestBridge Capital, comprising a mix of primary and secondary capital, Creagis and other angel investors. Â The new funding will help the domestic coffee outlet chain grow in existing markets, build greater density in high-potential cities and strengthen its … Read more
India’s non-banking financial companies (NBFCs) are likely to maintain steady growth in the near to medium term, with credit demand remaining healthy despite geopolitical uncertainties, according to brokerage firm 360 ONE Capital.The brokerage said management teams have retained their FY27 and medium-term growth guidance, while asset quality is expected to remain broadly stable.However, pressure on … Read more
NSE could soon have its own shares trading on its platform, even as they are already listed on another stock exchange first. The exchange may not need a separate Sebi approval to do this, as the move could come under its existing ‘permitted-to-trade’ system, an industry source cited by news agency PTI said on Thursday.The … Read more
Shiprocket has given investors a striking first-day payoff, with its shares listing at a 35% premium to its Rs 97 IPO price, before climbing as much as 48.6% intraday. At its peak, that put the company at roughly $1 billion, according to Reuters. The excitement is not just about a successful technology IPO. It reflects … Read more