October 10, 2024

India has lost one of its most iconic and beloved figures with the passing of Padma Vibhushan Ratan Naval Tata popularly known as Ratan Tata. The visionary industrialist, philanthropist, and former Chairman of Tata Sons passed away today at the age of 86, leaving behind a monumental legacy that has shaped the nation’s industrial and social fabric.

A Life of Visionary Leadership

Born on December 28, 1937, in Mumbai, Ratan Tata took over the reins of the Tata Group in 1991, guiding the conglomerate through an era of transformation. Under his leadership, the group expanded globally, with acquisitions like Tetley Tea, Jaguar Land Rover, and Corus Steel, propelling Tata into the global arena.

His vision of making products affordable for the common man led to the creation of the Tata Nano, a car meant to revolutionize transportation for millions of Indians. While the project faced hurdles, it remains an enduring symbol of Tata’s forward-thinking approach and commitment to social upliftment.

An Era of Social Responsibility and Philanthropy

Beyond business, Ratan Tata was a force for social change. A significant portion of Tata Sons’ profits was channeled into the Tata Trusts, which worked to improve education, healthcare, and rural development across India. Ratan Tata’s belief that businesses should also uplift the society they serve made him one of the world’s most respected philanthropists.

Through the establishment of the Tata Institute of Social Sciences (TISS) and other social ventures, Tata played an instrumental role in fostering progress in India’s social sector. His commitment to sustainability and ethical leadership inspired generations of entrepreneurs and business leaders, both in India and globally.

The Nation Pays Tribute

As news of Ratan Tata’s passing spread, tributes poured in from leaders across the globe. Prime Minister Narendra Modi expressed deep sorrow, calling Tata “a titan of industry, whose humility and philanthropy were as towering as his business achievements.” Business leaders, public figures, and ordinary citizens also took to social media to honor the man who had redefined leadership with compassion and integrity.

Ratan Tata’s achievements were recognized through numerous prestigious awards, including the Padma Bhushan in 2000 and the Padma Vibhushan in 2008, India’s third and second-highest civilian honors, respectively. His contributions have transcended business, impacting education, health, and sustainable development in India and around the world.

A Legacy of Integrity and Humility

Though Ratan Tata stepped down from active leadership at Tata Sons in 2012, he continued to inspire the next generation through mentorship and investments in start-ups, fostering innovation and entrepreneurship. His personal qualities of humility, grace, and vision made him a revered figure not only in business but also in the hearts of the Indian public.

Ratan Tata’s death marks the end of an era, but his legacy will live on through the institutions he built and the lives he touched. He leaves behind a legacy of ethical leadership, business excellence, and deep compassion for society.

What will happen to Tata after Ratan Tata death?

In addition, as they get ready for the future, some Tata family members are taking on leadership positions in various departments. One of the important individuals is Noel Naval Tata, Ratan Tata’s half-brother, who is regarded as a possible heir.

Which disease Ratan Tata has?

Dr. Sharukh Aspi Golwala claims that Ratan Tata had hypotension, or low blood pressure. As a result, numerous bodily organs gradually stopped functioning. He also began to experience dehydration issues. This is a significant issue for the elderly.

Where was Ratan Tata’s funeral held?

The industry legend’s final rituals are being carried out at Mumbai’s Worli Crematorium with full state honors.

Who was Ratan Tata’s wife?

Tata never got married and didn’t have any kids. “I came close to getting married four times, and each time I backed off in fear or for one reason or another,” he said in an interview from 2011. Shantanu Naidu, his personal aide, was very close to him.

Is there any child of Ratan Tata?

Tata never got married and didn’t have any kids. “I came close to getting married four times, and each time I backed off in fear or for one reason or another,” he said in an interview from 2011. Shantanu Naidu, his personal aide, was very close to him.

Who controls 66% of Tata Sons?

Presently, 66% of Tata Sons’ ownership is held by Tata Trusts. The Trusts engage in charitable endeavors, such as healthcare and education. Ratan Tata became the chairman of Tata Trusts in 2012 after stepping down as chairman of Tata Sons.

Is Ratan Tata adopted?

The second-highest civilian award in India, the Padma Vibhushan, was given to him in 2008. The third-highest civilian award, the Padma Bhushan, was previously given to Ratan in 2000. The founder of the Tata Group, Ratanji Tata, son of Jamshedji Tata, adopted Naval Tata, who in turn gave birth to Ratan Tata.

A video of him commenting on Indore’s top cleanliness ranking led to the filing of a non-cognizable crime information report against him

Entrepreneur Ashneer Grover responded to a defamation lawsuit brought against him for remarks he made on Indore’s top ranking in the Center’s cleanliness study with a stern tweet. In response to the argument, he apologized to Indore but said that he was “not sorry to any politician.”

Notably, a video of him commenting on Indore’s high ranking in the Center’s cleanliness assessment and allegedly saying it had been “bought” led to the registration of a non-cognisable offence information report against him on Monday. For six years running, the city has led the Swachh Sarvekshan survey conducted by the Center.

Sorry. No regrets. I’m sorry, Indore. You have a city and wonderful people. Politicians, though, are intolerant everywhere. Making unnecessary politics out of a jokey comment made during a lighthearted discussion on Bhopal vs. Indore. No offense was intended, just where the audience enjoyed it. No one has taken any. No one was even in the room being offended at this point, Mr. Grover said on X.

He continued by saying he doesn’t give a damn about filing a FIR and asserting that he isn’t “a pushover” and “won’t be bullied.”

Not Sorry to Any Politician, he continued. Ever. No one. any one. Launch a FIR. submit a case. I am not a pushover and won’t be intimidated, therefore it doesn’t matter. Avoid creating a problem where there is none. Despite the fact that it is an election year, people are wise. Indians are quite intelligent. I’ll visit Indore whenever and however often I please.

He ended by declaring that Bhopal is his favorite city and that it is ”India’s best city.”

Mr Grover was heard in the film saying at an event in Indore, “See, there is a concept – playing to the gallery, that is, wherever you go, praise it saying I have never seen such a nice city.” Now my problem is that I’ve been hearing for three or four years that Indore is the cleanest city…you bought the survey. It’s an easy matter.”

Mr Grover, on the other hand, quickly emphasized that he was not referring to dirt in Indore, but rather to the city’s numerous development projects. Pushyamitra Bhargava, the mayor of Indore, called his statement “an insult to the hard work of the city’s people and sanitation workers for cleanliness.”

Today, September 12, marks the largest launch event of the year for tech titan Apple

. The company’s event, which will be held at the “Steve Jobs Theatre” of Apple Headquarters in California this year, has been given the name “Wanderlust.” This event will start at 10:30 p.m., Indian time.

On the company’s website apple.com or through the Apple TV app, you may watch this event live online. Along with the iPhone 15 series, Apple may also introduce the Apple Watch Series 9 and Apple Watch Ultra 2 during this event. The corporation has not, however, made any official announcements regarding the products that will be introduced at the event.

The business can release iOS 17

The launch date for the iOS 17 operating system can potentially be revealed by the business at the Apple Wanderlust event. Three months ago, during the WWDC23 event, the firm introduced the features of iOS 17. iOS 17 will include features including live voice mail transcription, the capacity to record FaceTime communications, and a customizable contact poster.

Users will be able to send recorded FaceTime messages after installing the iOS 17 update on their iPhone if someone is not answering the call. As a result, users can now access the voice command capability by just saying “Siri,” rather than “Hey Siri.” Users can now use offline maps as well. iOS 17 is currently undergoing beta testing.

In India, Foxconn is producing the iPhone 15

The iPhone 15 is produced by Foxconn, a Taiwanese electronics company, at its Tamil Nadu plant in India. Foxconn has expanded the number of production lines at the Chennai plant to speed up output. Along with the new iPhone series, Apple releases a number of additional goods every September.

India has been producing iPhones since 2017

With the release of the iPhone SE in 2017, Apple began producing iPhones in India. Foxconn, Wistron, and Pegatron are its three Electronics Manufacturing Service (EMS) partners. Following the iPhone SE, India also produced the iPhone 11, iPhone 12, iPhone 13, and iPhone 14. The Foxconn plant located in Sriperumbudur, which is close to Chennai.

Apple is a participant in the Indian government’s PLI program.

The Production-Linked Incentive Scheme (PLI) of the Government of India, which has a budget of Rs 41,000 crore, includes all three of Apple’s contract manufacturers (Foxconn, Wistron, and Pegatron). The growth in iPhone production in India has only occurred since this initiative. The PLI Scheme was introduced in 2020 by the Indian government.

Through this program, businesses from other nations have the chance to profit from regional manufacturing and receive incentives for doing so.

To strengthen its position in generative artificial intelligence, Amazon has announced a strategic investment of up to $4 billion for a minority share in Anthropic, an AI firm

The world’s largest online retailer, Amazon.com, has made a big move to increase its position in generative artificial intelligence by announcing a strategic investment of up to $4 billion in the AI firm Anthropic. According to Bloomberg (a software business), this agreement not only entails a large cash investment but also gives Anthropic access to Amazon’s powerful computer capacity.

Amazon’s AI-Related Strategic Move

This substantial $4 billion investment in Anthropic shows Amazon’s dedication to strengthening its position inside the AI industry. Despite the fact that it might not have an immediate financial effect on Amazon’s cloud-services division, it shows the company’s resolve to compete with market leaders, particularly Microsoft, in the field of artificial intelligence.

A Safer Approach to AI using Anthropic

Anthropic, which was established by former employees of OpenAI, has attracted a lot of interest and money for its goal of creating safer AI systems. The business wants to develop chatbots and AI programmes that put safety and dependability first while carrying out coding, searching, question-answering, and summarising duties. Notably, Google, a significant participant in the IT sector, has already invested close to $400 million in Anthropic, illustrating the broad interest in the firm’s vision for AI safety.

Increasing Amazon’s Internal Chip Production

This alliance will have a big impact on Amazon’s own chipmaking operations in addition to the financial expenditure. For use in machine learning applications, Amazon has been creating its own processors, such as Trainium and Inferentia. Through the partnership, Anthropic will use AWS chips to develop and train the fundamental models needed for upcoming AI applications. This represents a collaborative strategy for enhancing the AI capabilities of both businesses.

Andy Jassy, CEO of Amazon, on the Collaboration

Andy Jassy, CEO of Amazon, expressed enthusiasm for the partnership and said, “Through our deeper collaboration, we can help improve many customer experiences, short- and long-term.” He also emphasised Amazon’s enthusiasm for Amazon Bedrock, a new managed service offered by AWS that enables businesses to use a variety of foundation models to create generative AI applications.

Jassy emphasised that the partnership with Anthropic would increase the value offered to clients through products like Amazon Bedrock and the AI training chip AWS Trainium.

The Sovereign Gold Bond Scheme (SGBs) 2023–24 second series went on sale today, or on September 11. You have till September 15 to invest in this

This time, the cost of gold per gramme has been set at Rs 5,923. This is an investment that may be done both online and offline.

You save Rs 50 when you apply online, thus the price per gramme will be Rs 5,873. You can invest in 24 carat gold, or 99.9% pure gold, with a sovereign gold bond.

Sovereign Gold Bond: What Is It?

A government bond is a sovereign gold bond. It is transformable into demat. The price of the bond will be equal to the cost of five grammes of gold if the bond is made of that amount of gold. The RBI has issued it.

Purchase of 24 carat, or 99.9% pure, gold

You can invest in 24 carat gold, or 99.9% pure gold, with a sovereign gold bond. SGB investments yield an annual interest rate of 2.50%. A loan may also be obtained against the bond if funds are required.

The bond’s price is determined by the announced rate of the Indian Bullion and Jewellers Association Limited, or IBJA. The average of the rates from the last three days of the week preceding the subscription term is calculated in this case.

There are no concerns about purity or safety.

There is no need to be concerned about SGB accuracy. The price of gold bonds is tied to the price of 24 carat purity gold reported by the Indian Bullion and Jewellers Association (IBJA), according to the National Stock Exchange (NSE). Along with this, it can be held in the form of demat, which is quite safe and does not cost anything.

Maximum gold investment is 4 kilogramme.

A individual may invest up to 4 kilogrammes of gold using SGBs during the course of a fiscal year. The investment cap of 4 kg will only apply to the first applicant in a joint owning situation. While 20 kg is the maximum weight that each trust may purchase.

When selling bonds before eight years, tax is due.

The Sovereign currency has an 8-year maturity period. There is no tax on the earnings earned from it after the maturity period has passed. However, if you remove your money after five years, the profit you made would be subject to Long Term Capital Gain (LTCG) taxes, which are levied at a rate of 20.80%.

The RBI has provided numerous choices for investment in it, and you can also invest offline. Through bank branches, post offices, stock exchanges, and the Stock Holding Corporation of India (SHCIL), investments can be made. An application form must be filled out by the investor. These bonds will then be transferred to your demat account after money has been deducted from your account.

PAN is required in order to invest. All banks, Stock Holding Corporation of India Limited (SHCIL), and reputable stock exchanges National Stock Exchange of India Limited (NSE) and Bombay Stock Exchange Limited (BSE) will participate in the sale of these bonds.

In 7 years, it returned 120%.

The price per gramme was Rs 2,684 when the Sovereign Gold Bond Scheme was established in 2015-16. There was a Rs 50 discount on this. That is, the price had increased to Rs 2,634. The recently announced series of Sovereign Gold Bonds costs Rs 5,923. This price has now dropped to Rs 5,873 after a Rs 50 rebate. In this manner, this programme has provided returns of approximately 120% over the last 7 years.

How about making a purchase?

Ajay Kedia, Director of Kedia Commodity, advises long-term gold investments since they will not be impacted by market volatility and will provide the desired profits. For at least three to five years, it would be beneficial to earn returns in gold. By June 2025, it might cost Rs 65,000 per year and Rs 75,000 for 10 grammes.

Disney has been looking into selling or partnering with its internet and TV businesses in India

Two sources familiar with the situation told Reuters on Wednesday that private equity firm Blackstone has held early talks with Walt Disney about acquiring a stake in the entertainment company’s Indian arm.

Blackstone is the latest contender for Disney’s assets in the highly competitive Indian market, where the company has been looking for a sale or a joint venture partner for its digital and television businesses.

Disney and Blackstone declined to comment.

According to one of the sources, Blackstone-backed US media firm Candle Media, created by former Disney executives, initiated discussions between the two sides last week.

The conversations were initially reported on Wednesday by the Indian publication The Economic Times. According to Bloomberg News, Disney has also had conversations with Indian billionaires Gautam Adani and Sun TV Network owner Kalanithi Maran.

With subscriber exits on the rise, Disney has attempted to resurrect its streaming business in India by giving free cricket on cellphones, thinking that the tactic will enhance advertising revenue.

Meanwhile, it has lost streaming rights to Indian billionaire Mukesh Ambani’s broadcasting unit for certain key cricket tournaments, including the Indian Premier League and the national cricket team’s bilateral matches.

In an effort to reduce password sharing in the crucial market, it was reported in July that Disney’s India streaming service Disney+ Hotstar planned to begin imposing a rule that would permit its premium members to login from just four devices.

Netflix, a competitor of Disney, began informing its users in more than 100 countries in May that they would have to pay more if they wanted to share the service with individuals outside of their home.

CMF Buds will have a 12.4mm driver made of unique TPU materials and biofiber

Next month will see the release of CMF Neckband Pro and CMF Buds, the newest audio offerings from Nothing’s subsidiary brand. The forthcoming Nothing Phone 2a, which the UK firm headed by OnePlus Co-Founder Carl Pei is planning to launch in India and other international countries, will be unveiled alongside both of these smartphones. The manufacturer has begun to make available some of the details of the CMF Neckband Pro and CMF Buds truly wireless stereo (TWS) earbuds ahead of their debut.

The CMF Neckband Pro and CMF Buds will launch in India on March 5 at 5 p.m., according to the company’s website. On the same day, the Nothing Phone 2a is expected to launch in India. The same as the company’s other products, these will be sold in the nation through Flipkart.

The CMF Neckband Pro, which is anticipated to be the company’s first neckband-style headset, would have five microphones for AI-assisted noise reduction during calls. The business claims that the device can provide hybrid active noise cancellation (ANC) up to 50dB.

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However, according to information released by the company, the CMF Buds will have a 12.4mm driver with bio fiber and unique TPU materials. This TWS headset supports ANC, just like the CMF Neckband Pro, though specifics about the feature have not yet been released.

Additionally, the company has disclosed that the CMF Neckband Pro and CMF Buds will both be compatible with the Nothing X app and provide five bass levels using a slider as part of the company’s Ultra Bass Technology 2.0.

Only a fraction of the CMF Neckband Pro and CMF Buds were shown off when the Nothing subbrand hinted at their release earlier this month. The audio items appeared to be in silver and white colorways in the teasers that the company released at the time. On the other hand, these things are only available in orange on the company’s website. Before they make their debut on March 5, we should find out more about these devices, including their cost and features.

Indegene Ltd.’s initial public offering (IPO), which provides digital-led commercialisation services to the global life sciences industry, will be available for subscription on May 6. The three-day public auction will end on May 8. The company’s IPO plans to raise around ₹1,842 crore

Indegene IPO Review
Analysts urged investors to ‘Subscribe’ to the issue, citing the company’s strong position to gain from the predicted increase in life sciences operations expenditure. Furthermore, it has a proven track record of adding value through smart acquisitions.

“The issue is valued at a P/E (price-earnings) of 31.3 times on the upper price band based on FY24 earnings estimates, which we feel is fairly valued,” stated stockbroker BP Wealth, while recommending a ‘Subscribe’ rating for the issue.

With a global footprint and delivery hubs strategically situated throughout the world, the company provides global service to its clients. According to Anand Rathi, this allows for flexible collaboration, efficient project execution, and timely service delivery across several areas.

The brokerage believes that the company’s valuation is fair. “At the upper price band, the company is valued at a P/E of 40.6 times with a market cap of ₹10,814 crore post issue of equity shares,” the IPO noted with a ‘Subscribe’ tag.

Reliance Securities has recommended a ‘Subscribe’ rating for the issue, stating that Indegene is one of the most innovative companies in the life sciences industry, with over two decades of experience and healthcare domain expertise, as well as fit-for-purpose technology and a portfolio of solutions covering all aspects of life sciences companies’ commercial, medical, regulatory, and R&D activities.

Comparison to listed industry peers
There are no listed firms in India or globally that are comparable in size, industry, or business style to the company. As a result, the company has not supplied an industry comparison with respect to the company.

Indegene IPO pricing range

The Bengaluru-based company set a price band of ₹430-452 per share for its first public offering. Investors may bid for a minimum of 33 shares in a single lot and in multiples thereafter.

Indegene IPO GMP
Indegene Ltd. shares were trading at a nearly 58% premium in the grey market today.
However, it is vital to note that gray market premiums are only an indication of how the company’s shares are stacked on the unlisted market, and they can alter quickly.

Additional information about the Indegene IPO

The IPO involves a fresh issue of equity shares worth up to ₹760 crore and an offer-for-sale (OFS) of up to 2.34 crore equity shares aggregating ₹1,082 crore from selling shareholders at the upper end of the price range.

Existing investors CA Dawn Investments, a Carlyle group entity, Vida Trustees in its capacity as Group Life Spring’s partner, Brighton Park Capital’s entities BPC Genesis Fund I SPV Ltd and BPC Genesis Fund I-A SPV Ltd, as well as individual investors Manish Gupta, Rajesh Bhaskaran Nair, and Anita Nair, would sell shares under the OFS.

Nadathur Fareast Pte Ltd is now Indegene’s largest stakeholder, with a 23.64% stake.

A 20.42% interest in the firm is owned by CA Dawn Investments, while a 12% position is held by Brighton Park Capital.

In February 2021, Indegene received $200 million in funding from Carlyle Group and Brighton Park Capital.

Indegene IPO’s goal
The proceeds from the new issuance would be used for general corporate objectives, debt repayment, funding inorganic expansion, funding capital expenditure requirements, and payment of deferred consideration for one of the company’s previous acquisitions.

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Native American IPO BRLM

Kotak The issue’s book-running lead managers are Mahindra Capital, Citigroup Global Markets India, J P Morgan India, Nomura Financial Advisory, and Securities (India).
IPO allotment and listing date for Indigene

Refunds will start the day after May 9th, when the allocation basis is set. On May 13, Indigene shares are anticipated to list on exchanges.
Overview of the business
Indegene was established in 1998 and provides solutions to assist biopharmaceutical, emerging biotech, and medical device firms in the development, introduction, and marketing of their products as well as in maximizing sales for the duration of their life cycles.
Money
The company reported ₹241 crore in profit after taxes on ₹1,969 crore in operating revenue for the quarter that ended in December 2023.

A partnership between JioMart and the Ministry of Rural Development (MoRD) aims to increase the reach of Self-Help Groups (SHGs) connected to DAY-NRLM

The Ministry of Rural Development (MoRD) and JioMart, a Reliance Retail business, have signed a Memorandum of Understanding (MoU), which is a significant milestone. By expanding the market for goods made by Self-Help Groups (SHGs) connected to the Deendayal Antyodaya Yojana-National Rural Livelihoods Mission (DAY-NRLM), this collaboration seeks to uplift rural artisans.

Goals of the Partnership

The MoU makes it easier for SHGs to join the JioMart e-commerce platform as sellers.

SHGs that are in accordance with DAY-NRLM might gain from direction and assistance in growing their internet enterprises.

The cooperation ensures a larger market for SHG items by complementing MoRD’s SARAS collecting project.

Participating in workshops and training sessions together would improve SHG sellers’ understanding of JioMart’s digital selling platform.

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Developing Rural Entrepreneurs

The partnership demonstrates the Ministry’s dedication to increasing SHGs’ options for subsistence.

JioMart wants to enable growth and make the digitalization of millions of SHGs easier with the help of its vast network and digital commerce platforms.

The partnership aims to support the “Made in India” campaign and revolutionize India’s digital retail landscape.

Support for Operations

JioMart will help Self-Help Groups (SHGs) create and manage their accounts on the platform.

JioMart pledges to continue offering training and assistance for business expansion after launch.

SHGs now have more opportunities thanks to the agreement to take part in marketing campaigns on the JioMart platform.

Q: What is the purpose of the MoU between the Ministry of Rural Development (MoRD) and JioMart?

A: The MoU aims to enhance the outreach of products from Self-Help Groups (SHGs) associated with DAY-NRLM, empowering rural artisans by enabling them to become sellers on JioMart.

Q: How will SHGs benefit from this collaboration?

A: SHGs will receive support and guidance to grow their online businesses on JioMart, expanding their market and visibility, aligning with MoRD’s SARAS collection initiative.

Q: What does the collaboration offer in terms of training and support?

A: JioMart will assist SHGs in setting up accounts, provide post-launch training, and support sustained business growth. SHGs can also participate in marketing promotions on the platform.