ACCENTURE TELSTRA JOINT VENTURE
NHPC no less than East India Company, drain of wealth happening from J&K: Congress' Tariq Hameed Karra
Jammu and Kashmir Congress president Tariq Hamid Karra criticized the NHPC for exploiting the state's resources and taking unwarranted consultancy fees. He highlighted issues like biased promotions, vacant leadership positions, and non-local firms benefitting from mining auctions, likening NHPC to the exploitative East India Company.
Billions in government consulting contracts under DOGE scrutiny; Big Four accounting firms staff fear mass layoffs, many of these employees make six-figure salaries
The Department of Government Efficiency is examining billions spent on consulting services by the US government, targeting 10 major firms including Deloitte and Booz Allen Hamilton. Agencies must justify their contracts by Friday, causing job insecurity among consulting staff. The review aims to determine the value these consultants bring to federal projects, especially in light of perceived wasteful spending.
OpenAI, Oracle eye Nvidia chips worth billions for Stargate site
The site, in the small city of Abilene, is expected to house 64,000 of Nvidia’s coveted GB200 semiconductors by the end of 2026. The chips will be added to several halls of the data center in phases, with an initial rollout of 16,000 set to be completed by this summer.
SBI denies report it is negotiating with SK Hynix, UMC on Japan chip plant
SBI aims to collaborate with SK Hynix on back-end DRAM processes and with UMC on chips for vehicles, according to the Nikkan Kogyo report, which did not cite sources.
Laurus Labs shares in focus after board approves Rs 83.3 crore investment in KRKA Pharma
Laurus Labs has approved an investment of Rs 83.3 crore in the joint venture KRKA Pharma Pvt Ltd to establish a manufacturing facility targeting new markets, including India. KRKA d.d. will also invest Rs 86.7 crore, maintaining the 51:49 shareholding ratio with Laurus Labs.
Sattva Group and Blackstone backed JV files DRHP to raise Rs 6,200 cr in India's largest REIT IPO
Knowledge Realty Trust, a joint venture of Sattva Group and Blackstone, filed for India's largest REIT IPO worth Rs 6200 crore. Owning 48 million sq ft in 6 cities, it's the top geographically diverse office REIT in India. Blackstone holds 55% with Sattva at 45%. Bank of America and Morgan Stanley are among the book runners.
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Skoda Auto VW in talks with JSW & Tata Motors for e-car deal
Skoda Auto Volkswagen India is negotiating with JSW Group and Tata Motors for licensing agreements to manufacture electric cars. Talks with Mahindra & Mahindra remain unresolved. The company seeks cost savings and compliance with India's fuel efficiency norms. A deal could help Skoda VW locally produce EVs sooner, avoiding substantial self-funding investments.
Magellan Aerospace inks MoU with Aequs to set up sand-casting unit at Belagavi Aerospace Cluster
The joint venture between the Canadian aerospace systems manufacturer and the Belagavi-headquartered contract manufacturing company will help meet the sand casting demands in the growing aerospace industry.
Blinkit’s commission shift; Semicon Mission 2.0
Zomato’s Blinkit has overhauled the way it charges commissions to brands and sellers. This and more in today’s ETtech Top 5.
TISS Mumbai summer placements: Highest stipend hits Rs 4.5 lakh for two months
Tata Institute of Social Sciences Mumbai's HRM & LR batch of 2024-26 achieved a highest summer placement stipend of Rs 4.5 lakh for two months. The mean stipend increased by 14.2% to Rs 3.22 lakh. Major recruiters included Accenture, Aditya Birla Group, and Reliance Industries.
Nuclear power road map towards 100 GW goal likely by month end
India is set to finalize a road map under the Nuclear Energy Mission to achieve 100 GW of nuclear power by March end. An inter-ministerial committee will outline steps to support this goal, including the development of small modular reactors (SMRs) and joint ventures. The initiative aims to address rising power demand and achieve 'net zero' by 2070.
Adani Welspun Mumbai Offshore gas block to start Output from 2028
Adani Welspun Exploration Ltd will start gas production from its Tapti-Daman sector block in the Mumbai Offshore basin by 2028. The joint venture, comprising Adani Group and Welspun Group, has invested around ₹2,300 crore and is awaiting approval for its gas extraction plans from the Directorate General of Hydrocarbons.
ArcelorMittal-Nippon say import curbs may hit India production, delay expansion
ArcelorMittal's India joint venture warns it may have to severely curtail steelmaking and delay its expansion plans due to India's import restrictions on low-ash metallurgical coke. The company seeks additional allocations from Poland and Japan, fearing business disruptions as local suppliers cannot meet quality requirements.
ArcelorMittal-Nippon says import curbs may hit India production, delay expansion
ArcelorMittal's India joint venture may need to reduce steel production due to India's import restrictions on low-ash metallurgical coke. The company has sought additional allocations from Poland and Japan to avoid shutting down operations and delaying their $9 billion expansion plan set to increase annual capacity by 2035.
Blackstone nears $400 mn deal for Kolkata's South City Mall
Blackstone Inc. is close to acquiring South City Mall in Kolkata for up to $400 million. This marks its entry into Kolkata's retail market, with the mall being the largest in eastern India. The move aligns with Blackstone's strategy to leverage India's consumer spending, adding to its existing investments in offices, hotels, and warehouses.
Jio Financial buys out SBI's stake in payments bank JV
Jio Financial Services will acquire full ownership of Jio Payments Bank after SBI's divestment of its 17.8% stake. With the deal valued at ₹104.54 crore, the transaction awaits the Reserve Bank of India's approval and is expected to conclude within 45 days.
MMRCL plans to monetise land parcels along Mumbai metro 3 corridor
Mumbai Metro Rail Corporation Limited (MMRCL) plans to monetise land parcels in Byculla, Marol, Mahim, and Dharavi to support metro expansion through joint ventures, PPPs, or outright sales. Key parcels include Byculla's Jacob Circle, Mahim’s Nayanagar, a site above Marol Naka Metro Station, and land near Dharavi Metro Station.
ONGC unit buys clean energy firm PTC Energy for $106 mln
Oil and Natural Gas Corp's unit has acquired clean energy firm PTC Energy for 9.25 billion rupees to expand its renewable energy portfolio. PTC Energy, with 288 MW of wind generation capacity, helps ONGC progress towards its aim of achieving 10 GW renewable energy capacity by 2030.
TakeMe2Space raises Rs 5.5 crore
The company in a statement said it aims to scale operations, launch in new regions, expand its product portfolio, strengthen R&D, and drive customer acquisition.
Jio Fin to acquire SBI's entire stake in Jio Payments Bank for Rs 104.54 cr
Jio Financial Services on Tuesday said it will acquire SBI's entire stake in Jio Payments Bank for Rs 104.54 crore. Jio Financial currently holds 82.17 per cent stake in Jio Payments Bank Limited (JPBL), a joint venture of the Company and State Bank of India (SBI).
Consulting, finance companies top recruiters at IIM-Calcutta
The Indian Institute of Management, Calcutta (IIM-C) concluded its final placements for the MBA Class of 2025, with the consulting sector emerging as the top recruiter, offering 201 positions (37.3% of total offers). A total of 456 students received 538 offers from 196 companies, despite challenging market conditions.
Tata Katcon leases 77,800 sq ft industrial space from Malpani Group in Pune’s Chakan
Tata Katcon Exhaust Systems, a joint venture involving Tata AutoComp Systems, is set to commence operations in a new 77,800 sq ft facility at Malpani Industrial & Logistic Park in Pune’s Chakan area. This long-term lease aligns with growing demands for sustainable industrial infrastructure in India, driven by government initiatives and enhanced connectivity.
Centre upgrades IRCTC and IRFC to Navratna status
IRCTC and IRFC have been upgraded to Navratna status, enabling them to make discretionary investments and improve efficiency. With this status, they can make faster decisions, supporting significant CAPEX and growth plans. This upgrade will also enhance their ability to establish joint ventures, expand market reach, and foster technological innovation.
Saab wins $159 million cruise missile upgrade order from Germany
Sweden's Saab has secured a 1.7 billion crown ($159 million) contract from Germany for the upgrade and maintenance of Taurus KEPD 350 cruise missiles. The contract, lasting from 2025 to 2035, involves system enhancements and a decade-long life cycle maintenance for the German Air Force's arsenal.
IT services firms see proactive deal renewals by clients on AI upsurge
This is likely to see a decline of longer-tenured contracts upwards of 5-10 years with a greater number of shorter period and smaller sized deals going forward. It is also in line with top executives calling for the outsourcing model ripe for disruption with a focus on outcome-based projects than just people-led model, experts say.
India's defence industry can bolster EU's supply chain: Commissioner
India's robust defence industry could become an integral part of the European Union's defence supply chains as Europe seeks to modernize its defence sector. Discussions between India and the EU on enhancing defence and security cooperation, focusing on joint exercises, maritime security, cybersecurity, and industrial partnerships, hold significant promise.
How AI will shape tomorrow’s workforce
Given the rise of automation driven by generative AI, 97% of Indian executives surveyed expect their employees' tasks to change, with a shift towards more innovative work in the next three years. This underscores the need for employees to expand their skillset and decide what they find engaging in their work, in order to be in the driver’s seat for innovation, the report said.
TSMC needs government permission for overseas joint ventures, Taiwan minister says
U.S. media have said Taiwan Semiconductor Manufacturing Co, the world's largest contract chipmaker and a major supplier to companies such as Apple and Nvidia, has been in talks for a stake in Intel.
TSMC needs government permission for overseas joint ventures, Taiwan minister says
US media have said Taiwan Semiconductor Manufacturing Co, the world's largest contract chipmaker and a major supplier to companies such as Apple and Nvidia, has been in talks for a stake in Intel. Speaking to reporters in Taipei, Kuo said that "no one can shake the foundations" of Taiwan's semiconductor industry.
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