India Inc plans major investment push in FY23, according to BS CEO survey
Businesses in India plan to accelerate investment in capacity expansion in 2022-23 as consumer demand shows signs of recovery after two years of slowing due to the pandemic and lockdowns, according to a dipstick survey of chief executive officers ( CEOs) shows this month. Continue reading
LIC policyholders likely to get Rs 60 rebate on shares, IPO starts May 2
The center is said to have set the price range for the initial public offering (IPO) of Life Insurance Corporation of India (LIC) at Rs 902-949 per share and may offer policyholders a rebate of Rs 60. Retail investors and LIC staff, on the other hand, could get a Rs.45 rebate on subscribing for the shares of India’s largest insurer, a senior government official said. Continue reading
New reporting obligations for companies are a burden for auditors
Auditors should seek direct confirmation of “borrowed funds” from all entities involved in transactions, including the beneficial owner, to ensure compliance with anti-money laundering and foreign exchange regulations under the new corporate reporting requirements. Continue reading
As the CEEW report shows, small Indian towns are overtaking big cities in EV travel
Of all the news about electric two-wheelers catching fire in the last month, only one came from Chennai. All other incidents happened in smaller towns. It’s places like Warangal, Coimbatore, Trichy and Nizamabad where multiple incidents involving electric two-wheelers have burst into flames, raising concerns about the safety of their lithium-ion batteries. Continue reading
Wipro announces it has acquired global SAP company Rizing for $540 million
Bengaluru-headquartered Wipro continued its inorganic business and on Tuesday announced the acquisition of Rizing Intermediate Holdings, a global SAP consulting firm, for consideration of US$540 million (about Rs.4,060 billion). Continue reading
White Goods PLI Round 2: 19 global, domestic companies submit applications
How many 19 global and domestic companies have applied and pledged Rs.1,548 billion worth of investments for the Production-Linked Incentive Scheme (PLI) for white goods — air conditioners (ACs) and LED lights, the Commerce and Industry Ministry said on Tuesday . Continue reading
Arvind Uppal New Chair of Eureka Forbes; Shapoorji Mistry leaves the board
Shapoorji Pallonji Mistry and six other directors have resigned from the board of Eureka Forbes and new owner Lunolux Ltd is taking control of the vacuum cleaner and water purifier maker. Continue reading
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