Author: News Desk
The much-awaited ‘Ferrari Purosangue’ is hereFerrari claims this as its first four-seat, four-door modelThe Italian manufacturer calls it a sports car on stiltsIt is reluctant to call the model an SUVFerrari Purosangue comes with a 6.5-litre V12Its deliveries in Europe will start in the first half of 2023India launch is expected at the end of 2023
DHL Supply Chain will invest 500-million Euro in India over the next five years To expand its warehousing capacity, workforce and sustainability initiatives It will add this 12-million square feet of capacity in wholly-owned DHL multi-client sites In key metro cities such as Bangalore, Chennai, Kolkata, Mumbai, NCR and Pune To cater to growing sectors, e-commerce, retail, consumer, manufacturing as well as automotive It also plans to double its workforce in India to around 25,000 people by 2026
With his group of enterprises surpassing those under the Tata umbrella to become India’s most valuable conglomerate, Gautam Adani’s hot run on Dalal Street continues. At Friday’s closing, the market value of the Adani Group’s whole portfolio of listed equities was Rs 22.27 trillion ($278 billion), surpassing that of Tata Group, which was valued at Rs 20.77 trillion ($260 billion). Reliance Group, which is run by Mukesh Ambani, is in third place with a market capitalization of Rs 17.16 trillion ($220 billion). The market capitalization of the Ahmedabad-based group includes the nine publicly traded companies in the group, beginning with…
According to data from the employment company Xpheno, Global Capability Centers (GCCs) plan to engage more than three million people in India by 2025. These captive centers, which MNCs manage to increase efficiency, provide back office and technical support services. These businesses use the GCCs as centers of excellence (COE). By the conclusion of this fiscal year, Xpheno estimates that the GCCs will have added between 180,000 and 200,000 net new employees at the present rate of expansion. On the other hand, it is anticipated that the overall number of employees in these captive units will quadruple by 2025 and…
The Adani family announced in a statement on Friday that the acquisition of Ambuja Cements Ltd. and ACC Ltd., which involved the purchase of Holcim’s share in Ambuja and ACC along with an open offer in both firms in accordance with Sebi laws, had been successfully completed. The deal was initially disclosed in May. The statement added that the $6.5 billion valuation of the Holcim interest and open offer consideration for Ambuja Cements and ACC makes this the largest acquisition by Adani and the largest M&A deal in India’s history in the infrastructure and materials sector. Adani will possess 63.15%…
Next month, the nation’s leading two-wheeler manufacturer, Hero MotoCorp, will introduce its first model to the domestic market, marking the company’s entry into the electric vehicle sector. A new age in mobility is about to begin, the business claimed in a regulatory filing, hinting at a Vida brand event on October 7, 2022. The two-wheeler industry leader has sent invitations to the event in Jaipur, Rajasthan, to its dealers, investors, and international distributors. Hero MotoCorp said in March of this year that it has established a USD 100 million (about Rs 760 crore) worldwide fund to support over 10,000 entrepreneurs…
The first batch of eight cheetahs has been released into the Kuno National ParkPM Narendra Modi presided over the functionThe Kuno National Park is located in Madhya PradeshThe cheetahs have been brought to India from Namibia, AfricaThe pack includes five females and three malesThey were brought in a cargo aircraft in GwaliorLater, the Indian Air Force choppers carried the cheetahs to the parkThe ‘Project Cheetah’ intends to reintroduce the big cats in IndiaIn India, cheetahs got extinct in 1952Cheetahs will help the restoration of open forests and grassland ecosystemsThey will enhance ecosystem services like water security, and soil moisture conservation
To acquire money through an initial public offering, Mankind Pharma has submitted its draft red herring prospectus (DRHP) papers to market regulator Securities and Exchange Board of India (SEBI). The promoters and current shareholders of the company will offer for sale (OFS) 4 crore (40,058,844) equity shares as part of the IPO. Ramesh Juneja, Rajeev Juneja, Sheetal Arora, Ramesh Juneja Family Trust, Rajeev Juneja Family Trust, and Prem Sheetal Family Trust are the company’s promoters. The IPO is anticipated to be worth around $5,500 crore, which would make it one of the largest public offerings by a domestic pharmaceutical company…
Yoga Guru Baba Ramdev announced plans to float four new Patanjali companies on Indian bourses over a five-year period. The Patanjali patron announced plans for four new Patanjali IPOs (initial public offerings) from Patanjali Ayurved, Patanjali Medicine, Patanjali Wellness, and Patanjali Lifestyle during a press conference in India’s capital city. The Yoga Guru stated that the Patanjali Group’s current turnover is 40,000 crore and that it aims to increase to 1 lakh crore in the following five years while making these remarks. The Yoga Guru gave a hint as to which Patanjali IPO might occur first when he stated that…
As Volkswagen’s supervisory board is prepping for the IPO of its Porsche brand, reports say that the IPO will consist of 911 million shares. The 911 million Porsche AG shares will be divided into 455.5 million preferred shares and 455.5 million ordinary shares. And, only the preferred shares will be listed. According to sources, a stock exchange prospectus will be published on Monday. After the announcement, institutional and private investors can subscribe to Porsche shares. Volkswagen and Porsche have not confirmed it. Porsche’s valuation is expected to be between 70 billion and 80 billion euros. However, there is no certainty…