Air India on Tuesday signed agreements with Airbus and Boeing for acquiring 470 planes for an estimated $70 billion at list prices. The Tata Group-owned airline had announced that it will buy 470 aircraft, including wide-body planes, in February this year. The “firm orders include 34 A350-1000, 6 A350-900, 20 Boeing 787 Dreamliners and 10 Boeing 777X widebody aircraft, as well as 140 Airbus A320neo, 70 Airbus A321neo and 190 Boeing 737MAX narrow-body aircraft,” the airline said in a release.
Posts tagged Rediff
Reliance tops Hurun’s list of most valuable pvt cos (20-06-2023)
Billionaire Mukesh Ambani’s Reliance Industries Ltd is the most valuable private company in the country, as per Hurun India’s 2022 Burgundy Private Hurun India 500 list. The list, which was released on Tuesday, stated that with a value of Rs 16.4 lakh crore, Reliance is India’s most valuable company, followed by Tata Consultancy Services (TCS) with Rs 11.8 lakh crore and HDFC Bank with Rs 9.4 lakh crore. Reliance is also the highest taxpayer with a payout of Rs 16,297 crore and the most profitable company with a bottomline of Rs 67,845 crore in 2022-23.
Byju’s sacks 1,000 more; count jumps to 3,500 (20-06-2023)
India’s largest edtech firm Byju’s will fire 1,000 employees in a fresh round of layoffs across departments. With the latest round, total job cuts at the company have mounted to around 3,500. According to sources, fresh job cuts are an attempt by the company to improve its finances and work towards a path to profitability.
IIT Madras raises Rs 231 cr in funding from alumni etc (20-06-2023)
Indian Institute of Technology Madras (IIT Madras) said on Monday that it had raised the highest-ever corpus of annual funds for the institution, garnering Rs 231 crore from alumni, industry and individual donors for 2022-23 (FY23). Its funding increased 76 per cent year-on-year (YoY) compared to Rs 131 crore in FY22, according to data shared by the institute. The number of donors contributing more than Rs 1 crore increased 64 per cent YoY.
The Political Mindset On Jobs Needs Change (20-06-2023)
The challenge is to enhance opportunities for people to generate livelihoods through entrepreneurship, both big and small, argues R Jagannathan.
Sensex, Nifty rebound on fag-end buying in IT, power (20-06-2023)
From the Sensex pack, Tata Motors, HCL Technologies, Power Grid, Tech Mahindra, NTPC, Axis Bank, Kotak Mahindra Bank, Larsen and Toubro, Wipro, Nestle, Tata Consultancy Services and Infosys were among the major gainers. Bajaj Finance, Bajaj Finserv, Mahindra and Mahindra, UltraTech Cement, IndusInd Bank and State Bank of India were the major laggards.
IndiGo has flexibility to decide 2035 size: CEO (20-06-2023)
IndiGo has the flexibility to decide what would be the precise size of its aircraft fleet by 2035, its chief executive officer (CEO) Pieter Elbers said on Monday. IndiGo – the country’s largest airline – has 312 aircraft in its fleet. Elbers said the airline will double in size by 2030, indicating the airline will have a fleet of about 625 by 2030.
Small-cap, arbitrage funds buck ‘low inflow’ trend (20-06-2023)
Two equity funds at the opposite ends of the risk matrix – small-cap and arbitrage – bucked the ‘low inflow’ trend in May this calendar year 2023 (CY23) to receive the highest net inflows in recent years. The Rs 3,280-crore net inflows into small-cap schemes in May was the highest for the category since the mutual fund (MF) industry started releasing fund-wise inflow data in April 2019. Arbitrage schemes raked in a net Rs 6,640 crore – the highest since July 2021.
India’s inflation is higher than emerging market peers (20-06-2023)
India’s prices are rising faster than many of its emerging market peers. The country’s inflation print for May at 4.25 per cent is a marked reduction from the levels seen in May 2022 (7.04 per cent). However, even though the inflation rate remains within the Reserve Bank of India’s medium-term target of 4 per cent, with a 2 per cent margin on either side, it continues to be higher than China, Russia, and Brazil.
Market concentration of telecom leaders rises to 72% (20-06-2023)
Market concentration in the country’s telecom sector continues to scale new heights despite government bailouts of public-sector Bharat Sanchar Nigam Ltd (BSNL) and Mahanagar Telephone Nigam Ltd (MTNL), and private-sector Vodafone Idea. The combined revenue (or net sales) share of the country’s top two telecom operators – Bharti Airtel and Reliance Jio – in the sector’s total reached an all-time high of nearly 72 per cent in FY23 from 70.4 per cent in FY22 and around 60 per cent in FY20. The net sales of Reliance Jio and Bharti Airtel India were Rs 1.67 trillion in FY23, up 18.6 per cent from the Rs 1.4 trillion a year earlier.