BIG COMPANIES
Explained: Why is France targeting Nvidia?
France's antitrust regulator is set to charge Nvidia in relation to alleged anti-competitive practices. The move comes after dawn raids by French authorities in September last year, which sources said targeted Nvidia. The raids were the result of an ongoing probe into the cloud computing industry.
PwC names new China head amid regulatory scrutiny
PwC said in a statement to Reuters on Wednesday that Shanghai-based Li assumed the role of chairman of PwC China and Asia Pacific with effect from July 1, taking over from Raymund Chao who retired on June 30. The firm came under the Chinese regulatory spotlight earlier this year for its role as the auditor of troubled property company China Evergrande Group.
Why the Digital Competition Bill has started a polarising debate in the tech industry
India’s Digital Competition Bill has turned previous foes in the tech industry into unlikely allies and sparked a polarising debate on market practices. The Committee on Digital Competition Law (CDCL) on February 27, submitted its report to the ministry of corporate affairs (MCA) after working on it for more than a year.
Tata funds pause is no 'debt-errent' at 1mg, BigBasket
BigBasket and 1mg–two of the biggest digital assets of Tata group–are choosing debt over equity for expansion in a critical year for them. As Tata Sons hits a pause on funding its ecommerce business, the two platforms are opting for debt for capex this financial year.
Why cement biggies like to take inorganic route to grow
This was followed by more prominent deals in recent times. In 2022, Adani Group acquired ACC and Ambuja Cements from Holcim. The acquisition of ACC-Ambuja cement assets was valued at ₹81,400 crore.
Dhiraj Agarwal on the next big trigger for equity markets
At least for a couple of months, China pulled in a large amount of inflows by the global investors. I have not seen the most recent data, but Feb-March they pulled in about $40 million. Something like that happens, it obviously impacts the amount of flow, which could happen in India. So, on the FPI flow, it is just a toss-up. I mean, it is very difficult to predict, honestly.
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BigBasket, 1mg’s plans for capex; win for epharmacies in Madras HC
Tata’s online grocery BigBasket and epharmacy 1mg will largely depend on debt capital to fuel expansion this fiscal. More on this in today’s ETtech Morning Dispatch.
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.
Are FIIs getting into a big buy mode in India? Dipan Mehta answers
On days of positive FII flows largecap stocks will do exceptionally well because those are the ones that they really are targeting and if FII buying, even FII selling, stops in some of the largecap index stocks, local money will ensure that the stock prices move up, says Dipan Mehta
Need to have one, strong brand or big market size: 4 midcap stocks with right levels of RoE and upside potential of up to 21%
In all market conditions investing in mid-cap stocks is always a challenge for any investor. This challenge gets much bigger when the valuations are extremely high but at the same time the market is in a strong bullish trend. A choice has to be made between taking risk or losing the opportunity of making returns in a short period of time. In such times, it would be better that investors should be cautious in selecting the stocks, better to go with buying in smaller quantities and keep some cash allocated for the stocks, but only to be used on the day when there is absolutely chaos on the street. Why this strategy is likely to work, because it will take care of volatility which is bound to happen when valuations are not on the side of bulls. Refinitiv’s Stock Report Plus which lists stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy".
Indigenous Innovation: A blueprint for systematically achieving Viksit Bharat
India's digital economy is on track to reach $1 trillion by 2030 with a growth rate 2.8 times that of regular GDP. Leveraging the CHIPS framework and strategic partnerships, India aims to secure a prominent global position through sustainable practices, education initiatives, and robust data governance.
How solar companies are surpassing Big Oil
The rise of Chinese solar power cos like Tongwei and Longi is challenging the dominance of traditional oil giants such as Exxon Mobil and Shell. Solar firms are already rivaling Big Oil in energy production efficiency, longevity, and environmental impact, signaling a significant shift in the global energy landscape.
Govt, digital news publishers discuss revenue sharing with big tech companies
The DNPA had petitioned the government to evolve a revenue sharing mechanism with big technology companies such as Google and Meta that aggregate and distribute content created by others and monetise the internet traffic generated in the process.
Electronics cos charged up for big revenue boost, set to double revenues to $55 billion by FY2027
India's EMS industry revenues are projected to double to $55 billion by FY27, driven by local component sourcing. Apple, Samsung, Lenovo, and other global firms are set to expand operations in India.
Big tech is driving the S&P rally. The rest have to step up soon
Tech stocks face diverging performances as Nvidia leads the pack, while Apple struggles, causing a profit cool down and an emerging asymmetry among Big Tech stocks, affecting the overall earnings potential in 2024.
Climate change: Cos need some big changes on compliances
World Environment Day holds significance for companies amidst climate change. India Inc's environmental compliance record shows room for improvement. Only 122 of the top 1,000 companies disclosed conducting EIAs in their FY23 reports sourced from Prime Database.
What big bulls on D-Street said on market, election trends and investment strategy
Markets initially reacted based on the exit polls, which seemed to foster a lot of optimism. Many expected a post-election rally, as indicated by conversations suggesting bullish sentiments. Therefore, the reaction observed on Tuesday can be seen as a reflection of those high expectations, observed majority of analysts.
IAMAI view on draft Digital Law not shared by all constituents: four members tell MCA
Four members of IAMAI, including Bharat Matrimony, Match Group, Hoichoi, and ShareChat, express divergent views on ex-ante regulation in the draft DCB to the Ministry of Corporate Affairs.
Elon Musk sees another big advisory firm come out against his multibillion dollar pay package
Tesla CEO Elon Musk's pay package, recently valued at $44.9 billion, has been re-endorsed by ISS and Glass Lewis. The firm argued that the package was outsized and failed to achieve board objectives. It also noted that Tesla met the pay package's performance objectives and recognized the company's substantial growth in size and profitability. However, concerns about Musk spending too much time on other ventures raised in 2018 and since then have not been sufficiently addressed.
NFRA to engage with some big listed companies on audit compliance
The regulatory outreach could involve the NFRA's engagement with audit panels, independent directors, chief financial officers and others on the boards of these companies, said one of the persons. The regulator is close to finalising a framework to hold such huddles and may invite listed companies, where large public interest is involved, for such meetings, according to another person.
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.
Steep H-1B fee hike to burn a big hole in IT companies pockets
The steep hike in US H-1B visa fees could spell bad news for Indian IT service providers and dent their pockets significantly, experts and industry insiders have warned.
Strong sales growth for entry-level two-wheelers in H2 of FY24; big relief for automakers
The trend continued in April, driven by an improvement in income levels thanks to healthy economic growth, making the automobile industry bullish of a sustained recovery in the twowheeler segment and sparking green shoots of recovery in small car sales.
Draft digital competition bill will make business untenable: IAMAI
Ex-ante regimes tell businesses precisely how to behave, or what to do. Under the current ex-post regime of the Competition Act, companies are only required to ensure that their conduct in the market is not anti-competitive. An overlapping ex-ante regime proposed under the digital competition Bill will force tech companies to comply with parallel legislation and undertake measures for additional compliance, the IAMAI said.
Modi govt's new solar scheme has three big hurdles
The government has launched a new scheme to encourage the installation of solar panels on rooftops, aiming to triple renewable capacity by 2030. The program provides subsidies to install grid-connected systems, allowing households to reduce electricity bills and sell extra power to the grid. However, challenges remain, including difficulties with electricity distribution companies (DISCOMs) and a lack of skilled workers. Despite these hurdles, the initiative is expected to create jobs and significantly reduce CO2 emissions.
NCLT approves Sapphire Media's acquisition of Big 92.7 FM
NCLT Mumbai approved Sapphire Media's plan for Big 92.7 FM, paying Rs. 261 crore to creditors. The resolution process began in February 2023 under the Insolvency and Bankruptcy Code, with a creditors' committee approving the plan on November 11, 2023.
Big 4's dominance: Local companies call for level playing field
Indian auditing firms are pushing for fair competition with multinational counterparts, expressing concerns over the Big Four's increasing dominance and alleged manipulation of regulatory loopholes. The Institute of Chartered Accountants of India (ICAI) recently investigated affiliates of EY, Deloitte, PwC, and KPMG, where the firms were able to obtain court stays against disciplinary actions by the ICAI disciplinary committee after years of scrutiny, according to local rivals.
Here's how much an average Meta employee earned in 2023; Mark Zuckerberg's compensation revealed too
Meta's median employee earned a staggering $379,000 in 2023, with CEO Mark Zuckerberg noting a total compensation of $24.4 million. Despite receiving a nominal salary of $1 since 2013, Zuckerberg's wealth has soared by over $47 billion this year alone. The tech giant's net profit rose to $12.4 billion in the first quarter of 2024, with total revenue up by 27 percent at $36.5 billion.
Australia's spy boss seeks more co-operation from big tech in hunt for extremists
In a speech to be delivered in Canberra on Wednesday, agency chief Mike Burgess will outline how "offshore extremists" are asking a commercially available artificial intelligence program for advice on building weapons.
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