ARMS COMPANIES
Matrix Partners India rebrands to Z47, China arm to MPC
The venture capital firm is known for backing the likes of mobility firm Ola, online payments company Razorpay and business-to-business commerce startup OfBusiness, among others. However, the firm said the operations in the US will continue under the name Matrix Partners.
Reforms in armed forces should be continuous to maintain supremacy during wars: President Murmu
President Droupadi Murmu highlighted the government's efforts to boost domestic defence production. She claimed that nearly 70 per cent of defence procurement was sourced from Indian manufacturers in the last year, and reforms resulting in India manufacturing over Rs one lakh crore of defence equipment. She emphasised upon modernisation of the armed forces, the importance of continuous reforms for military supremacy, and India's increasing defence exports, including the BrahMos missile deal with the Philippines.
Madras HC delivers shot in the arm for online pharmacies
In a shot in the arm for epharmacies, the Madras High Court overturned a previous ruling by a single-judge bench restricting online platforms like Tata 1mg, PharmEasy, Netmeds, and Practo from engaging in the digital trade of medicines.
Big 4’s management consulting arms gain muscle
The management consulting business has been growing 25-30% for all firms in the last two years. At the Big Four, the total number of partners engaged in strategy, operations, and the top end of digital advisory — areas typically dominated by firms like McKinsey, BCG and Bain — stands close to 300, with consultant numbers at 5,500-6,000. However, the varying number of digital consultants each firm adds to management consulting complicates direct comparisons.
China sanctions several Lockheed Martin units, three executives over arms deals with Taiwan
Named under the sanctions were Lockheed Martin Missile System Integration Lab, Lockheed Martin Advanced Technology Laboratories and Lockheed Martin Ventures. Top executives James Donald Taiclet, Frank Andrew St John and Jesus Malave were listed as banned from travelling to China.
German auto component supplier ZF Group sells 7.5% stake in its Indian subsidiary
"ZF Group has sold 1,425,000 shares, equalling 7.5 per cent stake, in its listed Indian subsidiary ZF CVCS India to increase liquidity and financial flexibility for its growth plans. The transaction will strengthen the financial flexibility of ZF, allowing it to invest in its further growth, and in the dynamically developing Indian market," the company said.
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Mahindra group may join hands with global players for cell production in India: MD Anish Shah
Mahindra Group plans partnerships for local battery cell production to meet future electric vehicle demand in India by 2030. CEO Anish Shah confirms global technology and private equity interests for funding, focusing on indigenous production. Mahindra Electric's listing is slated for after 2030, anticipating market maturity and infrastructure growth for EV adoption despite current challenges.
Network 18, arms get NCLT approval to proceed with merger scheme
Network18 owns 51.17% of TV18 and 91.89% of E18. TV18 also owns a 13.54% stake in Viacom18, which is in the process of merging with Walt Disney's Star India.
India's consumer market represents long-term structural opportunity: N Chandrasekaran
Tata Consumer Products Ltd Chairman N Chandrasekaran highlighted India's consumer market as a long-term structural opportunity, driven by factors like population, a growing middle class, rapid urbanisation, increasing disposable incomes, and rising aspirations.
MediaTek designs Arm-based chip for Microsoft's AI laptops
Last month, Microsoft unveiled a new generation of laptops that feature chips designed with Arm Holdings tech, which provide enough horsepower to run the artificial intelligence applications that executives said were the future of consumer computing. The MediaTek chip is geared toward this effort.
Karnataka IT minister meets Arm Holdings executive at London Tech Week
Karnataka IT minister Priyank Kharge met with a top executive from semiconductor company Arm Holdings at London Tech Week to discuss the company's plans in the State. They talked about semiconductor manufacturing, the global startup ecosystem, and more.
Bajaj Finance Housing Fin arm to raise Rs 4,000 crore
Bajaj Finance's housing finance arm is set to raise ₹4,000 crore via an initial public offering (IPO) to meet RBI mandates, as confirmed by the company in a stock exchange filing.
Kotak Bank gets RBI nod to sell 70 pc stake in general insurance arm to Zurich Insurance
In November last year, Zurich Insurance Company announced plans to acquire a 51 per cent stake in Kotak Mahindra General through a combination of capital infusion and share purchase, followed by a subsequent acquisition of an additional stake of 19 per cent within three years from the initial acquisition for Rs 5,560 crore.
Elliott rebuilds stake in SoftBank and pushes for $15 billion buyback: Report
SoftBank Group's shares surged to a three-year high after activist investor Elliott Management proposed a $15 billion buyback. CEO Masayoshi Son's confidence in the strategy was highlighted. The financial boost was attributed to the success of British chip-designer Arm Holdings.
Cisco launches $1 billion AI fund and makes first investments
Cisco through its investment arm, is investing in Cohere, Mistral AI and Scale AI, among others, and has already committed nearly $200 million of the fund.
Arm aims to capture 50% of PC market in five years, CEO says
Demand for use of Arm's technology in personal computers got a boost after Microsoft unveiled ambitious plans last month to launch a new breed of PCs with artificial intelligence features to compete with Alphabet and Apple.
Central Armed Police Force's 400 companies to remain positioned in West Bengal till June 19
Nearly 400 Central Armed Police Force (CAPF) companies, totaling over 40,000 personnel, will remain in West Bengal until June 19 to manage post-election violence. The significant portion of the force would Central Reserve Police Force (CRPF) units. The decision is aimed at establishing area dominance, building citizen confidence, and ensuring a peaceful environment while maintaining law and order in the state.
Arm offers new designs, software for AI on smartphones
Arm Holdings unveiled new chip blueprints and software tools to enhance smartphones for AI tasks, aiming to accelerate adoption with changes in blueprint delivery.
Hindalco shares surge 2% after company arm Novelis files 45 million shares in IPO
Hindalco Share Price: Hindalco's shares surged 2% on the BSE during Wednesday's trading session, reaching a peak of Rs 695 for the day. This rise followed news that its subsidiary, Novelis, had filed to offer 45 million shares in its US initial public offering (IPO), with a price range of $18 to $21 per share.
Indian weapons falling into wrong hands? Defence Ministry tightens monitoring
The defence ministry is enhancing monitoring of defence equipment production and requiring companies to adhere to end-user certification rules for exports. The sector has seen a surge in arms and weapons production, particularly in response to the Ukraine-Russia crisis.
HCLTech, Arm collaborate to work on custom silicon chips for AI-led biz
The partnership will enable semiconductor manufacturers, system OEMs (original equipment manufacturers) and cloud services providers to enhance the computing efficiency of their data centre environments, HCLTech said in a statement.
More PEs head to India armed with big money to bag deals
Growtheum Capital Partners, a private equity firm headquartered in Singapore, is scheduled to inaugurate its Mumbai office this July, joining the growing list of PE investors in India. At the same time, US-based private equity firm Platinum Equity is evaluating investment opportunities across various sectors such as healthcare, technology, and infrastructure as it prepares to enter the Indian market.
Deutsche Bahn invites fresh bids for €15 billion logistics arm
Deutsche Bahn AG has evaluated bids for DB Schenker. Companies such as CVC, Carlyle, DSV, Maersk, MSC, Bahri, ADQ are the potential buyers.
China sanctions defense-related US companies and executives over Russia, Taiwan
China claims the self-governed island as its own territory, to be annexed by force if necessary. It has long opposed any weapon sales by the U.S. to the island. While the U.S. does not recognize Taiwan as a country, Washington is obligated by a federal law to ensure the island's government has the means to defend itself.
Election Commission to deploy 102 companies of central forces for second phase of polls in Odisha
State Chief Electoral Officer Nikunja Bihari Dhal said that the highest of 22 companies of central forces would be deployed in Maoist-affected Kandhamal district, followed by Ganjam (20), Sundargarh (16), 14 each in Bargarh and Bolangir, five each in Jharsuguda and Boudh, four in Sonepur and two in Nayagarh.
German defence industry says it will need government help to reduce dependence on China
Hans Christoph Atzpodien, head of the Bundesverband der Deutschen Sicherheits- und Verteidigungsindustrie (BDSV), said the U.S. defence industry had, under government pressure, widely shed their dependency on Beijing in recent years.
NCLT sets the ball rolling on merger of Reliance's arm Viacom18 and Star India
The merger scheme has two stages: the transfer of Viacom18's TV and streaming assets to Digital18 and the demerger and vesting of these assets from Digital18 to Star India. As consideration for the scheme, Viacom18 will transfer streaming platform JioCinema to Digital18, which will pay the company a consideration of Rs 24,186 crore through an allotment of 24.18 billion fully paid-up shares of Rs 10 each.
IRDAI nod likely soon for IIHL's buyout of Reliance Capital's three insurance arms
IRDAI expected to approve IndusInd International Holdings' acquisition of Reliance Capital's 3 insurance companies. NCLT endorsed IIHL's ₹9,650 crore resolution plan for Reliance Capital. Hinduja Group's Aasia Enterprises aids in equity infusion.
Hinduja arm asks NCLT to junk BHEL insolvency plea
Hinduja National Power Corporation Ltd (HNPCL) has requested the dismissal of an insolvency petition filed by public sector undertaking Bharat Heavy Electricals Ltd (BHEL) due to the PSU's failure to complete the project as per the contract. The case has been dragging on for over four years, with BHEL claiming HNPCL failed to make a payment of ₹281 crore.
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