Recovery pushes hiring intent to 15month high in Q2
Job seekers can hope for better days ahead, reported The Economic Times.Why it's important: India Inc’s ‘intent to hire’ in July-September marks its highest level in the past 15 months, according to a survey of 700 small, medium and large companies across 21 sectors.
A combination of factors, such as easing of restrictions, uptick in consumption and rise in economic activity, are driving both white- and blue-collar employment generation.
Birlas not planning to raise Vi stake
The Aditya Birla Group (ABG) has no plans to exercise its option under an existing shareholder pact to buy shares of Vodafone Idea from co-promoter, the UK's Vodafone Group, and increase its 27.66 percent stake, reported The Economic Times.
Vodafone holds 44.39 percent of Vi.
Amex to resume India business from August 7
American Express is set to partially resume its business in India next month by acquiring merchants, reported The Economic Times.
Any data regarding transactions in India, if captured in servers overseas, need to be erased within 24 hours.
LIC IPO only after 3 other PSU selloffs
The government is looking to complete at least three public sector disinvestment transactions before rolling out the mega IPO of Life Insurance Corporation of India early next year, reported The Economic Times.Who the three are: At least three firms – National Fertilisers Ltd, Mishra Dhatu Nigam Ltd and Rashtriya Chemical & Fertilizers Ltd – will be divested through offer on sale route within the next quarter.
Earlier this week, the government sold an 8 percent stake in Hudco through the OFS route.
‘Most have similar or higher fuel taxes’
Chief Economic Adviser Krishnamurthy Subramanian is confident of robust growth in 2021-22 against the backdrop of the second COVID-19 pandemic. In an interview to The Times of India, he says inflation should come within a comfortable range soon.What the CEA says: The overall economic impact of the second wave is not likely to be very large.
Except for the US, every other country has fuel taxes that are very similar or higher than India.
SEBI to ease rules for startups to go public
India’s markets regulator plans to introduce rules that will hold the controlling shareholders of companies accountable, Mint reported.Why it's important: It is departing from the concept of regulating promoters, as dozens of investor-backed and entrepreneur-led startups are set to go public.
SEBI Chairman Ajay Tyagi: “We are revisiting the concept of promoters and controlling shareholders. There is an increasing number of companies that do not have any clear promoters.”
‘India’s crypto industry needs regulations, not prohibition’
Nischal Shetty, CEO of WazirX, in an interview to Mint, spoke about the #IndiaWantsCrypto campaign, which completed 1,000 days on July 28, key challenges that the industry faced during the past three years, and what the campaign would aim to achieve in its next 1,000 days.What the CEO says:
To catch up with the rest of the world, we first must have banking access.
FMCGs make steady recovery, surpass pre-COVID-19 levels
In spite of the bruising second wave of the COVID-19 pandemic and the deep disruptions in public life, the country’s FMCG sector is emerging as one of the most resilient segments of the economy, Business Standard reported.Why it's important: Early numbers and estimates for the June quarter point towards a steady recovery in the sector, with top companies overtaking their pre-pandemic levels.
Better penetration, supply chain efficiencies, a targeted push for relevant products and a massive digital push by FMCG manufacturers helped them minimise the dip in sales.
Post-IPO, Nykaa family to continue holding 51 percent stake
The promoter family of beauty and fashion start-up Nykaa will continue to hold a 51 per cent stake in the company following the proposed IPO Business Standard reported.Why it's important: The promoter family has three members in the top management team: founder Falguni Nayar, daughter Adwaita who is the CEO of Nykaa Fashion and son Anchit, CEO of the beauty e-commerce platform.
The IPO will include an offer for sale from existing shareholders as well as the fresh issuance of shares.
Ashok Leyland draws up electric road map
Ashok Leyland lined up its electric vehicle road map, setting a target of becoming one of the world’s top 10 CV brands, Business Standard reported.Why it's important: To launch EVs in December through UK-based Switch Mobility, a combined entity of Ashok Leylands electric CV operations and the erstwhile Optare of the UK.