Invesco is in talks to invest around $500-600 million in Swiggy
US asset manager Invesco is planning to invest around $500-600 million in Swiggy, reported The Economic Times.Why it’s important: Swiggy is finalising the new financing round.
The plan will also catapult Swiggy to the country’s most valued privately owned startups after Byju’s and Paytm.
High LNG prices to hurt sector in long run: GAIL chairman
GAIL Chairman Manoj Jain, in an interview with The Economic Times, said that the record-high LNG prices are going to affect the sector negatively in the long run.What the chairman says: This will slow industries’ switch to natural gas.
A scramble to replenish storage ahead of winter by big consumers like China and Japan has also pushed up prices.
Our focus has been on medium-sized companies in India: Mark Mobius
Founder of Mobius Capital Partners and veteran emerging markets investor Mark Mobius in an interview with The Economic Times said that the Indian market looks very good because of the changes that are taking place in the economy generally.What Mobius says: India to get a greater share of the money coming into the emerging markets.
Don't get involved in companies that are not making money.
JSPL unit Sarda Mines top bidder for Kwality Dairy
Jindal Steel and Power Limited’s subsidiary Sarda Mines is the top bidder for Kwality Dairy, reported The Economic Times.Why it’s important: The firm wins e-bid with an offer of Rs 121 crore.
Haldiram’s and French dairy firm Lactalis were interested parties in buying Kwality Dairy.
Govt plans solar energy to power cold chain facilities
The government is planning to make use of solar energy to power the cold-chain facilities for storing vaccines, reported Mint.Why it’s important: This will supply uninterrupted power to cold-chain facilities.
The model could be expanded to other cold-chain facilities later.
Pharma major Lupin eyes big diagnostics business
The pharmaceutical major Lupin is entering the diagnostics business, reported the Business Standard.Why it’s important: The plan is to tap the huge potential in the sector.
Lupin wants to go for a franchise model with an initial investment of Rs 2-5 lakh.
SpiceJet’s cargo business hive-off plan faces hurdles from creditor
The plans of SpiceJet to hive off its logistics and cargo business is facing legal hurdles, reported Business Standard.Why it’s important: It has plans for a separate company called SpiceXpress.
They want the airline to clear their dues before going for any other plans.
Rate cut not mispricing of risks: Union Bank of India's head
Rajkiran Rai G, MD & CEO of Union Bank of India, and Chairman of Indian Banks’ Association (IBA), in an interview with Business Standard, said that the cost of funds has gone down while operating efficiencies have improved with digitisation.What he says: The rate cut is not due to competition among banks.
A stable interest rate scenario is expected for some more time.
‘There’s growing interest in mediation in India’
Singapore’s Minister for Law K Shanmugam, who also heads home affairs, in an interview with Business Standard said interest among the Indian legal fraternity in mediation is growing.What the Minister says: The Supreme Court of India upholding the Emergency Arbitrator Award in the Future-Amazon arbitration battle, under SIAC rules, is a welcome development.
There has been growing interest in mediation as a viable form of alternative dispute resolution domestically.
‘Sustained low-interest rates will impact banks’ net interest margins’
Akash Lal, senior partner, McKinsey & Company, in an interview with Business Standard said banks need to increase productivity by 25-30 per cent to reach pre-COVID-19 levels of profitability.What he says: Private equity investments have quadrupled in the last five years.