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<ul><li>Saraswati Saree Depot is expected to announce its share <keyword id="19911164" type="General" weightage="20" keywordseo="allotment-status" source="keywords">allotment status</keyword> on Friday, August 16.</li><li>The shares of Saraswati Saree Depot were subscribed 107.39 times.</li><li>The shares are expected to be listed on the stock exchanges on August 20.</li></ul>Kolhapur-based Saraswati Saree Depot, a manufacturer and wholesaler of women’s apparel such as sarees, kurtis, dress material and more is expected to announce the allotment status of its initial public offering (IPO) on Friday, August 16. The <keyword id="18997986" type="General" weightage="20" keywordseo="Saraswati-Saree-Depot-IPO" source="Orion">Saraswati Saree Depot IPO</keyword> opened on August 12 and closed on August 14. The price band for the IPO was ₹152 to ₹160 per share. <h2>Saraswati Saree Depot subscription</h2>On the last day, the Saraswati Saree Depot IPO was subscribed 107.39 times, receiving bids for 107.40 crore equity shares against 1 crore shares on offer. While the qualified institutional buyer portion was subscribed 64.12 times, the non-institutional investors portion was subscribed 358.47 times. The retail portion also witnessed excellent participation and was subscribed 61.59 times. <h2>Saraswati Saree Depot grey market premium</h2>The shares of Saraswati Saree Depot are currently commanding a grey market premium (GMP) of ₹90 per share. GMP is the premium at which IPO shares are traded in an unofficial market before they are listed on the stock exchanges. How to check <keyword id="22757840" type="General" weightage="100" keywordseo="Saraswati-Saree-Depot-IPO-allotment" source="Orion">Saraswati Saree Depot IPO allotment</keyword> You can check the allotment status on the registrar’s website. <ul><li>To check the Saraswati Saree Depot IPO allotment status, visit the registrar’s website<a href="https://ipo.bigshareonline.com/IPO_Status.html"> here</a>.</li><li>Click on ‘Select Company’ and then select ‘Saraswati Saree Depot’.</li><li>Now, select PAN, application number, or beneficiary ID and provide the details.</li><li>Now, enter the captcha.</li><li>Click on “Search”.</li></ul>You will be able to see your application status. It will display the number of shares that you have applied for and the number of shares that have been allotted to you. You can also check the Saraswati Saree Depot IPO allotment status on the BSE and NSE websites. To check the allotment status on the BSE or NSE website: <ul><li>Go to the BSE<a href="https://www.bseindia.com/investors/appli_check.aspx"> website</a>.</li><li>On the website, click on 'Equity' and then select ‘Saraswati Saree Depot’ from the dropdown menu.</li><li>Now, enter your application number and PAN.</li><li>Click on 'Search'.</li></ul>You will be able to see the number of shares allotted to you. You can click<a href="https://www.nseindia.com/products-services/initial-public-offerings-bid-verification"> here</a> and log in to check your allotment status on NSE. <h2>Saraswati Saree Depot IPO listing date</h2>The shares of Saraswati Saree Depot will be listed on the stock exchanges on August 20. Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. We recommend that readers consult certified, qualified, registered advisors for professional and personalised financial advice. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-9-pro-fold-launched-in-india-at-172999-but-you-cant-get-your-hands-on-it-right-now/articleshow/112517193.cms">Google Pixel 9 Pro Fold launched in India at ₹1,72,999, but you can’t get your hands on it right now</a> <a href="https://www.businessinsider.in/tech/mobile/news/pixel-9-pixel-9-pro-and-pixel-9-pro-xl-launched-in-india-starting-at-79999/articleshow/112512198.cms">Pixel 9, Pixel 9 Pro and Pixel 9 Pro XL launched in India starting at ₹79,999</a> <a href="https://www.businessinsider.in/stock-market/news/ipo-scam-two-victims-from-hyderabad-lose-over-11crore-in-fake-ipo-scams/articleshow/112488051.cms">IPO scam – Two victims from Hyderabad lose over ₹11 crore in fake IPO scams</a>

Saraswati Saree Depot IPO allotment – How to check allotment, IPO GMP, listing date and more

<ul><li>Two individuals from Hyderabad have lost over ₹11 crore in <keyword id="22770081" type="General" weightage="20" keywordseo="fake-IPO-scams" source="keywords">fake IPO scams</keyword>.</li><li>The victims were lured by scammers promising investment opportunities and huge returns.</li><li>The two victims lost ₹5.9 crore and ₹5.2 crore respectively.</li></ul> In yet another instance of fraudsters using the rising popularity of the <keyword id="19925636" type="General" weightage="20" keywordseo="stock-market" source="keywords">stock market</keyword> and initial public offerings (IPOs) to dupe people, two people from Hyderabad lost over ₹11 crore in fake IPO and <keyword id="21250548" type="General" weightage="20" keywordseo="investment-scams" source="keywords">investment scams</keyword>. There has been a significant rise in stock market-related scams over the past few years, with scammers promising huge returns to lure in victims. In yet another such incident, two professionals have lost over ₹11 crore. <h2><keyword id="22770082" type="General" weightage="20" keywordseo="Goldman-Sachs-Business-School" source="keywords">Goldman Sachs Business School</keyword> scam</h2>In the first incident, Gopu Venugopala Reddy, a businessman from Hyderabad received a WhatsApp message, asking him to join “Goldman Sachs Business School”, which claimed to give him access to block trading and preferential IPO access. He received the message from a woman claiming to be an assistant to the managing director at Goldman Sachs. She offered investment opportunities through institutional accounts to the victim. Reddy then received a Google form and downloaded a trading app called ‘GSIN’. The victim transferred a total of ₹5.9 crore between January 30 and February 22 for investing. After he tried to withdraw his funds, he was informed he needed to pay a 20% fee on his profits, which amounted to ₹2.8 crore. When he asked the woman to withhold 20% from his account and transfer the remaining amount, she insisted that at least a 10% payment was required. Reddy then realised that he had been duped and filed a complaint. A police investigation later revealed that the amount invested by the victim was transferred into 11 different accounts, making it difficult to trace the amount. <h2>IIFL SECURITIES WhatsApp group</h2>In the second incident, Konduri Hrushikesh, a resident of Hyderabad lost ₹5.2 crore after he joined a WhatsApp group named “A117 IIFL SECURITIES Official Stock Community” after seeing a post on Facebook. The group, managed by a person named “Ankur Kedia”, who claimed to be the chief investment officer of IIFL Securities advised the victim to invest in IPOs through a stockbroking application. The victim invested ₹5.2 crore between June 9 and July 2, and when he tried to withdraw the amount, he was unable to do so. The victim then tried to contact the app’s customer care but did not receive a satisfactory response. He then received a demand for additional funds to be able to withdraw his funds. The victim then filed a complaint after realising he had been duped. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-9-series-to-launch-today-how-to-watch-the-event-what-to-expect-and-more/articleshow/112484176.cms">Google Pixel 9 series to launch today – How to watch the event, what to expect and more</a> <a href="https://www.businessinsider.in/stock-market/webstories/saraswati-saree-depot-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112457330.cms">Saraswati Saree Depot IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms">India’s wearables market decline for the first time as smartwatch shipments fall</a>

IPO scam – Two victims from Hyderabad lose over ₹11 crore in fake IPO scams

Online used-car platform <keyword id="20259409" type="General" weightage="20" keywordseo="CARS24" source="keywords" meta.keywordsubtype="org" meta.entityname="CARS24" meta.hostid="261" meta.entityid="CARS24">CARS24</keyword> is gearing up for an <keyword id="19898327" type="General" weightage="20" keywordseo="IPO" source="keywords">IPO</keyword> as it prepares to tap into the next level of growth opportunities in the domestic market, Co-Founder <keyword id="20485365" type="General" weightage="20" keywordseo="Gajendra-Jangid" source="keywords">Gajendra Jangid</keyword> said on Monday. The Gurugram-headquartered firm, which has already crossed USD 1 billion in turnover, expects the domestic <keyword id="22760787" type="General" weightage="20" keywordseo="used-car-market" source="keywords">used-car market</keyword> to cross USD 100 billion mark over the next ten years. "IPO is a milestone and a stepping stone in our journey. We are gearing up for it internally. I am not laying any roadmap for...by when we will go for the IPO. But the progress is being made in that direction," Jangid told reporters here. Elaborating on the growth potential of the Indian used-car market, he stated that <keyword id="22029663" type="General" weightage="20" keywordseo="car-ownership" source="keywords">car ownership</keyword> in the country remains low as compared to various developed geographies including China and the US. Jangid noted that the used-car segment was growing faster than the new car sales in the country with strong demand emanating from Tier II and III cities and towns. He noted that the company is yet to reach break-even level and the focus remains on introducing new products and technologies and scale new business verticals like car-servicing and sales of accessories and spare parts. CARS24 said it has upgraded its app to revolutionise car ownership, seamlessly integrating a wide range of services under one roof. The app, which now comes with a new feature Orbit, covers buying, selling, financing a car to on-demand driver services, insurance, repair and maintenance RTO assistance, FasTag, service history record, and even car-scrapping, it added. "We're not just transforming car transactions; we're elevating them into experiences," Jangid said. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/saraswati-saree-depot-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112457330.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/saraswati-saree-depot-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112457330.cms" target="_blank">Saraswati Saree Depot IPO – Price band to risk factors, all you need to know</a><a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank">India’s wearables market decline for the first time as smartwatch shipments fall</a><a href="https://www.businessinsider.in/business/auto/news/tata-curvv-ev-with-up-to-585-km-range-launched-starting-at-17-49-lakh/slidelist/112342769.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/tata-curvv-ev-with-up-to-585-km-range-launched-starting-at-17-49-lakh/slidelist/112342769.cms" target="_blank">Tata Curvv EV with up to 585 km range launched starting at ₹17.49 lakh</a>

Preparing to float IPO to tap growth opportunities: CARS24

State-owned <keyword id="20253046" type="General" weightage="20" keywordseo="Hindustan-Copper" source="keywords">Hindustan Copper</keyword> Ltd on Monday reported a two-fold rise in <keyword id="20123335" type="General" weightage="20" keywordseo="consolidated" source="keywords">consolidated</keyword> <keyword id="19942166" type="General" weightage="20" keywordseo="net-profit" source="keywords">net profit</keyword> at <keyword id="22760670" type="General" weightage="20" keywordseo="Rs-113-40-crore" source="keywords">Rs 113.40 crore</keyword> for the quarter ended June 30, 2024. The company had posted a net profit of Rs 47.28 crore in the year-ago period, Hindustan Copper said in a filing to BSE. The consolidated income of the company during the April-June period rose to Rs 500.44 crore over Rs 384.73 crore in the year-ago period, the filing said. Hindustan Copper Ltd had earlier said that it is likely to exceed its capex target of Rs 350 crore for the ongoing fiscal year. The company is continuously investing in its ongoing mine expansion plan. Hindustan Copper Ltd (HCL) is under the administrative control of the Ministry of Mines. The company has facilities for the production and marketing of copper concentrate, copper cathodes, continuous-cast copper rods, and byproducts. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/saraswati-saree-depot-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112457330.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/saraswati-saree-depot-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112457330.cms" target="_blank">Saraswati Saree Depot IPO – Price band to risk factors, all you need to know</a><a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank">India’s wearables market decline for the first time as smartwatch shipments fall</a><a href="https://www.businessinsider.in/business/auto/news/tata-curvv-ev-with-up-to-585-km-range-launched-starting-at-17-49-lakh/slidelist/112342769.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/tata-curvv-ev-with-up-to-585-km-range-launched-starting-at-17-49-lakh/slidelist/112342769.cms" target="_blank">Tata Curvv EV with up to 585 km range launched starting at ₹17.49 lakh</a>

Hindustan Copper Q1 net profit rises two-fold to ₹113.40 crore

Cricketer MS Dhoni-backed <keyword id="22760229" type="General" weightage="20" keywordseo="drone-technology-firm" source="keywords">drone technology firm</keyword> <keyword id="20401750" type="General" weightage="20" keywordseo="Garuda-Aerospace" source="keywords" meta.keywordsubtype="org" meta.entityname="Garuda Aerospace" meta.hostid="261" meta.entityid="Garuda Aerospace">Garuda Aerospace</keyword> on Monday announced its entry in the <keyword id="22760228" type="General" weightage="20" keywordseo="Sri-Lankan-market" source="keywords">Sri Lankan market</keyword> where it will primarily target <keyword id="19915424" type="General" weightage="20" keywordseo="agricultural-sector" source="keywords">agricultural sector</keyword> to enhance farming practices, besides exploring opportunities in <keyword id="20695675" type="General" weightage="20" keywordseo="homeland-security" source="keywords">homeland security</keyword> and industrial applications. As part of the company's global expansion plans, the foray into Sri Lanka will also support Garuda in capitalising on the country's strategic location and drone-friendly regulatory environment, Garuda Aerospace said. The company said it is looking to spread its presence in at least 50 countries over the next few years, and has set aside USD 10 million, of the over Rs 100 crore revenue it delivered in FY24, to fuel the international growth. "This (expansion into Sri Lanka) isn't merely about growth, it's about unlocking the full potential of drone technology to create substantial impacts across various sectors. Sri Lanka's diverse landscape allows us to showcase how our innovative solutions can bring tangible benefits, from agriculture to infrastructure," said Agnishwar Jayaprakash, Founder and CEO of Garuda Aerospace. Garuda Aerospace, which produces small and medium category drones, had partnered with Greek manufacturer Spirit Aeronautical Systems early this year. It has also signed a pact with French aerospace giant Thales to promote growth and innovation in India's drone sector. Spirit Aeronautical specialises in rotary and fixed-wing weaponised drones. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/saraswati-saree-depot-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112457330.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/saraswati-saree-depot-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112457330.cms" target="_blank">Saraswati Saree Depot IPO – Price band to risk factors, all you need to know</a><a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank">India’s wearables market decline for the first time as smartwatch shipments fall</a><a href="https://www.businessinsider.in/business/auto/news/tata-curvv-ev-with-up-to-585-km-range-launched-starting-at-17-49-lakh/slidelist/112342769.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/tata-curvv-ev-with-up-to-585-km-range-launched-starting-at-17-49-lakh/slidelist/112342769.cms" target="_blank">Tata Curvv EV with up to 585 km range launched starting at ₹17.49 lakh</a>

Garuda Aerospace enters Sri Lankan market

<keyword id="19910508" type="General" weightage="20" keywordseo="Amazon-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Amazon India" meta.hostid="261" meta.entityid="Amazon India">Amazon India</keyword> on Monday said that it has formed a strategic <keyword id="19900447" type="General" weightage="20" keywordseo="partnership" source="keywords">partnership</keyword> with electric mobility firm <keyword id="20992233" type="General" weightage="20" keywordseo="Gentari" source="keywords">Gentari</keyword> for its EV deployment programme as it targets a fleet of 10,000 <keyword id="19895203" type="General" weightage="20" keywordseo="electric-vehicles" source="keywords">electric vehicles</keyword> for last-mile deliveries by 2025. Under the collaboration, Gentari Green Mobility Business will procure and deploy electric vehicles for the company in the next three years besides providing comprehensive fleet management services to the delivery service partners (DSPs) to ensure the seamless operation and upkeep of the <keyword id="20475726" type="General" weightage="20" keywordseo="EV-fleet" source="keywords">EV fleet</keyword>, Amazon India said. The partnership will provide Delivery Service Providers (DSPs) access to more electric three-wheelers for Amazon deliveries, it added. "We aim to empower our delivery service partners by providing them access to the right electric vehicles, end-to-end vehicle life cycle management services, as well as charging and parking facilities," said Abhinav Singh, VP (Operations) at Amazon India. The company deployed more than 7,200 EVs in India at the end of 2023, and it remains well on track to achieve its goal of deploying 10,000 EVs in the domestic market by 2025, he said. Amazon India has operations across 400 cities in the country. "As we work together to deploy more EVs and contribute to India's net zero targets, I'm confident this collaboration will pave the way for a cleaner and electric future for India's transportation sector," said Nikhil Thomas, CEO of Gentari Green Mobility India. Gentari Green Mobility India offers a comprehensive suite of services including a wide network of EV charging points, EV subscriptions through Vehicle-as-a-Service (VaaS), and personalised value-added services. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/webstories/saraswati-saree-depot-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112457330.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/saraswati-saree-depot-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112457330.cms" target="_blank">Saraswati Saree Depot IPO – Price band to risk factors, all you need to know</a><a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/indias-wearables-market-decline-for-the-first-time-as-smartwatch-shipments-fall/articleshow/112397246.cms" target="_blank">India’s wearables market decline for the first time as smartwatch shipments fall</a><a href="https://www.businessinsider.in/business/news/ola-wants-to-re-enter-the-quick-commerce-business-to-take-on-blinkit-and-swiggy-instamart/articleshow/112364583.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/news/ola-wants-to-re-enter-the-quick-commerce-business-to-take-on-blinkit-and-swiggy-instamart/articleshow/112364583.cms" target="_blank">Ola wants to re-enter the quick commerce business to take on Blinkit and Swiggy Instamart</a>

Amazon India partners with Gentari for 10,000 EV fleet by 2025

<ul><li>Google is all set to launch the <keyword id="21304170" type="General" weightage="20" keywordseo="Pixel-9" source="keywords">Pixel 9</keyword> series globally today, ahead of the India launch on August 14.</li><li>The <keyword id="21001024" type="General" weightage="100" keywordseo="Google-Pixel-9-series" source="keywords">Google Pixel 9 series</keyword> launch event will be live-streamed on the company’s YouTube channel.</li><li>Here’s everything we know so far about the upcoming <keyword id="22767919" type="General" weightage="20" keywordseo="Pixel-9-series-smartphones" source="keywords">Pixel 9 series smartphones</keyword>.</li></ul> Google is scheduled to launch the Pixel 9 series on August 13 globally, followed by an<a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-9-pro-fold-to-launch-in-india-on-august-14-alongside-the-pixel-9-series/articleshow/111855704.cms"> India launch</a> on August 14. The Pixel 9 series is expected to include four devices – Pixel 9, <keyword id="21304169" type="General" weightage="20" keywordseo="Pixel-9-Pro" source="keywords">Pixel 9 Pro</keyword>, <keyword id="22185014" type="General" weightage="20" keywordseo="Pixel-9-Pro-XL" source="keywords">Pixel 9 Pro XL</keyword> and the <keyword id="21729544" type="General" weightage="20" keywordseo="Pixel-9-Pro-Fold" source="keywords">Pixel 9 Pro Fold</keyword>. Unlike last year, the company’s new foldable offering has been included in the Pixel 9 lineup. In addition to this, the company is also set to launch a new Pixel smartphone with a larger display, taking the number of devices in the Pixel 9 series to four. <h2>Pixel 9 series event date and time</h2>The Pixel 9 series is scheduled to launch globally today at 10:30 PM, followed by an India launch on August 14. <h2>How to watch <keyword id="22767920" type="General" weightage="20" keywordseo="Pixel-9-series-launch" source="keywords">Pixel 9 series launch</keyword></h2>The Pixel 9 series launch event will be live-streamed on the company’s website and its<a href="https://www.youtube.com/watch?v=N_y2tP9of8A"> YouTube channel</a>. <h2><keyword id="22767918" type="General" weightage="20" keywordseo="Pixel-9-series-design" source="keywords">Pixel 9 series design</keyword> and specifications</h2>To begin, the Pixel 9 series will be available in new colour options – Dark Grey, Light Grey, Off-White and Pink. The sides of the device will be polished, while the back will be soft matte, just like the<a href="https://www.businessinsider.in/tech/mobile/news/google-pixel-8-pro-review/articleshow/107726935.cms"> Pixel 8 Pro</a>. A significant change is the large camera island being used for the new Pixel 9 series. While the vanilla Pixel 9 will feature a dual camera setup, the Pro models are expected to offer a triple camera setup. Starting with the Pixel 9, it is expected to feature a 6.3-inch Full HD+ 120Hz AMOLED screen. It is expected to feature a dual camera setup consisting of a 50MP primary camera and a 48MP ultra-wide-angle camera. It will be equipped with 12GB RAM. The Pixel 9 Pro will also feature a 6.3-inch Full HD+ 120Hz AMOLED screen. The Pixel 9 Pro XL on the other hand will offer a 6.8-inch Full HD+ 120Hz AMOLED screen. Both the devices will feature a triple camera setup at the back consisting of a 50MP primary camera, a 48MP ultra-wide-angle camera and a 48MP telephoto lens. The devices will offer 16GB RAM. The Pixel 9 Pro Fold will offer a 6.3-inch cover display and an 8-inch inner display. The device will offer a triple camera setup consisting of a 48MP primary camera, a 10.5MP ultra-wide-angle camera and a 10.5MP telephoto lens. The new Google Tensor G4 chipset will power all four smartphones. <h2>Pixel 9 series features</h2>As per the marketing material, users who buy the new Pixel 9 series will get a free Gemini One AI Premium Plan subscription for one year. Google is also introducing a Pixel Screenshot feature, that will allow users to save information from screenshots such as events, places, names and more. The Pixel 9 series will get seven years of Pixel Drops and security updates. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/webstories/saraswati-saree-depot-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/112457330.cms">Saraswati Saree Depot IPO – Price band to risk factors, all you need to know</a> <a href="https://www.businessinsider.in/business/news/ola-wants-to-re-enter-the-quick-commerce-business-to-take-on-blinkit-and-swiggy-instamart/articleshow/112364583.cms">Ola wants to re-enter the quick commerce business to take on Blinkit and Swiggy Instamart</a> <a href="https://www.businessinsider.in/tech/mobile/news/global-smartphone-market-records-8-growth-in-q2-2024-samsung-takes-the-top-spot/articleshow/112223188.cms">Global smartphone market records 8% growth in Q2 2024, Samsung takes the top spot</a>

Google Pixel 9 series to launch today – How to watch the event, what to expect and more

India's corporate credit landscape is showing positive trends that are expected to persist, according to a recent report by <keyword id="19990557" type="General" weightage="20" keywordseo="SP-Global" source="keywords" meta.keywordsubtype="org" meta.entityname="S&amp;P Global" meta.hostid="261" meta.entityid="S&amp;P Global">S&amp;P Global</keyword>. The report highlights strengthening credit quality across various sectors, driven by enhanced <keyword id="20994126" type="General" weightage="20" keywordseo="financial-discipline" source="keywords">financial discipline</keyword>, broad-based <keyword id="19899597" type="General" weightage="20" keywordseo="earnings-growth" source="keywords">earnings growth</keyword>, and robust liquidity profiles. S&amp;P Global's analysis reveals that one in three ratings within India now shows a positive outlook, marking a significant shift after three years of net positive rating actions. The report indicates that corporate India has built greater resilience against downside risks, reflecting a more stable and robust credit environment. However, corporate leverage in India is expected to decline marginally, even as capital expenditure (capex) rises by 30% compared to pre-pandemic levels. This improvement is attributed to more entrenched financial discipline among companies, which have managed to balance rising capex with prudent financial management. The report forecasts a 10% growth in aggregate EBITDA in 2024, driven by strong performance in sectors such as telecommunications, airports, commodities, and chemicals. This broad-based earnings growth underscores the resilience of corporate India and its ability to generate substantial cash flows despite a challenging global environment. Indian companies are benefiting from strong onshore liquidity and the absence of large debt maturities, which support their liquidity profiles. The resilience of these companies to foreign exchange and interest rate volatility further strengthens their liquidity positions. Corporate India's positive credit trends are closely linked to broader economic drivers such as GDP growth. Increased consumer spending is bolstering sectors like airports, automobiles, and telecommunications. Meanwhile, infrastructure investment is significantly boosting the commodities, utilities, and commercial automotive sectors. S&amp;P Global notes that both infrastructure and non-infrastructure sectors are experiencing reductions in leverage, with absolute debt reduction more pronounced in non-infrastructure sectors. However, infrastructure entities are slower in reducing debt due to higher capex, particularly in energy transition initiatives. Operating cash flows across sectors are outpacing capex, supporting further deleveraging. While capex intensity remains higher in infrastructure sectors, the neutral free operating cash flow is seen as a positive trend, indicating that companies are managing their capital expenditures efficiently while maintaining cash flows. The transportation infrastructure sector is benefiting from traffic growth and tariff increases, with rising cargo volumes supporting port revenues and improved operating efficiencies boosting margins. Airports are also experiencing higher traffic levels and tariff increases, contributing to better operating cash flows and overall credit quality. In the utilities sector, rising demand and new capacity are driving earnings growth, though capex remains high, particularly for energy transition projects. The steel sector is expected to see increased operating cash flow due to falling input prices and new capacity additions. Earnings in the oil and gas sector are expected to remain stable, supported by a favorable price outlook and consistent production levels. The telecom sector is also on a path to significant deleveraging, with capex expected to moderate following the 5G auctions in 2023. The auto sector is witnessing sustained operating performance as volumes stabilize after the supply chain disruptions of 2022. S&amp;P Global notes that debt levels in the auto sector are expected to remain low following sharp deleveraging, while normalized growth in auto sales and stable margins support the sector's positive outlook. In the chemicals sector, falling input costs and stabilized product prices are expected to drive earnings recovery following a downturn in 2023. Improved signals show a broader trend of recovery across various industrial sectors in India. S&amp;P Global concludes that with the highest proportion of positive credit outlooks in the region, India's corporate sector is well-positioned for continued <keyword id="22758432" type="General" weightage="20" keywordseo="credit-quality-improvement" source="keywords">credit quality improvement</keyword>. 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India's corporate credit quality is getting stronger: S&P Global

<keyword id="20253141" type="General" weightage="20" keywordseo="Bharti-Global" source="keywords" meta.keywordsubtype="org" meta.entityname="Bharti Global" meta.hostid="268" meta.entityid="Bharti Global">Bharti Global</keyword>, the international <keyword id="19895437" type="General" weightage="20" keywordseo="investment" source="keywords">investment</keyword> arm of Bharti Enterprises, will acquire about 24.5 per cent stake in <keyword id="20115879" type="General" weightage="20" keywordseo="BT-Group" source="keywords" meta.keywordsubtype="org" meta.entityname="BT Group" meta.hostid="268" meta.entityid="BT Group">BT Group</keyword>, Britain's largest broadband and mobile company, from <keyword id="22756191" type="General" weightage="20" keywordseo="Altice-UK" source="keywords" meta.keywordsubtype="org" meta.entityname="Altice UK" meta.hostid="268" meta.entityid="Altice UK">Altice UK</keyword>, a release said on Monday. Although it did not divulge the size of the deal, market watchers say that at BT's valuation of roughly USD 15 billion dollars, the deal could be in the ballpark of USD 4 billion. The shares will be purchased through Bharti Televentures UK, which is wholly-owned by Bharti Global. Bharti Televentures UK has inked an agreement with Altice UK to acquire about 9.99 per cent stake of BT Group's issued capital imminently with the rest about 14.51 per cent of BT's share capital is to be acquired post regulatory clearances. Telecom billionaire Patrick Drahi's Altice UK, the largest shareholder in BT, has been struggling with high debt. "Bharti Global, the international investment arm of Bharti Enterprises, a leading Indian business group with world-class companies in telecoms, digital infrastructure and space communications, has reached an agreement to acquire an interest in 24.5 per cent of the issued share capital of BT Group plc from Altice UK," Bharti said in a release. Bharti hopes the investment will further help create new synergies in the telecom sector between India and UK in the areas of AI and <keyword id="19916120" type="General" weightage="20" keywordseo="5G" source="keywords">5G</keyword> R&amp;D and core engineering among others, "offering great potential to collaborate on industry best practices and emerging technologies". It is pertinent to mention here that Bharti and BT have a relationship going back more than two decades. In 1997, BT acquired a 21 per cent stake in Bharti Airtel, and hence Bharti's latest move to acquire a 24.5 per cent chunk in the iconic British company marks a defining moment for the Indian telecom conglomerate. Sunil Bharti Mittal, Chairman of Bharti Enterprises said: "Bharti and British Telecom (BT) have an enduring relationship going back more than two decades wherein BT owned 21 per cent stake along with two board seats in Bharti Airtel Limited from 1997-2001. Today marks a significant milestone in Bharti Group's history as we invest in BT - an iconic British company". Bharti's investment in BT aims to support the commitment of Prime Minister Narendra Modi towards his vision in elevating and broadening the India-UK ties, the release said. It noted that during the recently concluded visit of UK Foreign Secretary, David Lammy to India, the UK-India Technology Security Initiative was announced to expand collaboration in critical and emerging technologies across priority sectors including telecom. Sunil Mittal said: "This investment in BT aims to support the commitment of our Prime Minister towards his vision in elevating and broadening the India-UK ties. Bharti's own record of owning and operating telecom and broadband networks around the world is underpinned by placing customers, digital innovation and operational efficiency at the heart of its business". Shravin Bharti Mittal, Managing Director of Bharti Global said: "We review global investment opportunities in the world of technology from digital infrastructure to software. BT is well known to us from the long association with Bharti, so we are pleased to have this opportunity to acquire a significant stake in the company." Bharti believes that BT is poised for leadership in the telecom arena, especially home broadband services, he added. Meanwhile, BT Group, in a separate statement said the investment from Bharti is a strong vote of confidence in the future of the British telecom carrier and its strategy. Allison Kirkby, Chief Executive of BT said: "We welcome investors who recognise the long-term value of our business, and this scale of investment from Bharti Global is a great vote of confidence in the future of BT Group and our strategy". "BT has enjoyed a long association with Bharti Enterprises, and I'm pleased that they share our ambition and vision for the future of our business. They have a strong track record of success in the sector, and I look forward to ongoing and positive engagement with them in the months and years to come," Kirkby said. Barclays Bank PLC, acting through its Investment Bank served as the sole financial advisor and Linklaters LLP served as legal advisor to Bharti Global in connection with the transaction. 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