The Tamil Nadu government is set to unveil a housing initiative for 18,720 women employed by Taiwanese tech giant Foxconn, a key supplier to iPhone-maker Apple, this Saturday. The project, located at Vallam Vadagal near Chennai, marks the first time an Indian state government has constructed a hostel of this scale for a private firm – a model that’s been successful in China and Vietnam.
Posts tagged Rediff
How Much Have MFs Invested In HDFC Bank? (16-08-2024)
With a deployment of Rs 2,720 crore in July, MFs’ total investment in HDFC Bank in calendar year 2024 (till now) surged to Rs 48,820 crore.
Google Pixel Phones Now Made in India (16-08-2024)
‘The plan is to assemble most of the new phones in India within three years.’
Textile industry joins hands with ILO (15-08-2024)
With cotton still figuring in the list of commodities that are produced using practices such as child labour, the Confederation of Indian Textile Industry (CITI) has entered into an understanding with the International Labour Organisation (ILO) to create awareness, share technical know-how and knowledge about better labour standards. These standards, which are part of ILO Fundamental Principles and Rights to Work (FPRW), will be tried on a pilot basis in major cotton-growing districts of Madhya Pradesh for one year starting in 2024.
Ather’s IPO the next big spark in electric revolution (15-08-2024)
Bengaluru-headquartered electric two-wheeler manufacturer Ather Energy is all set to file its draft red herring prospectus within the second week of September to the Securities Exchange Board of India (Sebi) for its maiden initial public offering (IPO), in which it is expected to raise over $450 million. On Tuesday, the fourth-largest electric two-wheeler maker in the country by volume raised Rs 600 crore from its existing investor, the National Investment and Infrastructure Fund (NIIF), catapulting itself into a unicorn with a valuation of $1.3 billion.
India imported $2.8 bn worth crude from Russia in July (15-08-2024)
India, the world’s third largest oil consuming and importing nation, in July bought $2.8 billion worth of crude oil from Russia, second only to China which remains the largest importer of Russian oil, a report said. Russia emerged as India’s biggest supplier of crude oil, which is converted into fuels like petrol and diesel in refineries, after Russian oil was available on discount following some European nations shunning purchases from Moscow over its invasion of Ukraine in February 2022.
Non-biscuit portfolio key driver of Britannia’s growth (15-08-2024)
Britannia Industries reported revenue growth of 4 per cent year-on-year (Y-o-Y) in Q1FY25 and volume growth of 8 per cent implying price trends were adverse. Other operating income jumped 195 per cent, due to the incentive received for the Ranjangaon plant. The non-biscuit portfolio (rusk, cake, bread) remained key to growth and contributed 25 per cent of the total revenue.
‘Our objective is to keep improving Casa ratio’ (15-08-2024)
‘The Casa ratio is at 33.4 per cent, which has to keep improving. Right now, there is a bit of liquidity pressure in the market.’
Domestic PV wholesales dips 2.5% in July: Siam (14-08-2024)
Passenger vehicle wholesales in India declined 2.5 per cent year-on-year to 341,510 units in July, impacted by high base effect as well as companies reducing vehicle dispatches to dealers amid moderation in demand. The overall passenger vehicle (PV) dispatches from companies to dealers stood at 350,355 units in July 2023, automobile industry body Siam said on Wednesday.
Exports dip 1.2% in Jul; trade deficit widens (14-08-2024)
After remaining in the positive zone for three months, India’s exports contracted 1.2 per cent to $33.98 billion in July, while the trade deficit widened to $23.5 billion.