A round-up of the top newspaper stories offers a glimpse into some of the most important developments in India. Here are the highlights:
1. US Funds Urge Bloomberg Barclays to Include India in Bond Index
Top American funds have requested an early review by Bloomberg Barclays Emerging Markets bond index to consider including India. This decision could potentially bring about $25 billion of bonds into the Indian market and highlight the country’s growing relevance on a global scale.
2. National Stock Exchange Plans Longer Trading Hours
The National Stock Exchange plans to extend trading hours for equity derivatives, allowing domestic traders to react to global events sooner. This move would also prevent competition from GIFT City, where trading is open round the clock.
3. Bharat Biotech to Invest Billions for Growth Post-Pandemic
Bharat Biotech is planning to invest Rs 3-4,000 crore in developing vaccines, conducting clinical trials, setting up partnerships, and establishing a new factory. The company sees potential in untapped markets and aims to expand its reach globally.
4. Akasa Air Seeks $400 Million Investment
Akasa Air, India’s newest airline, is seeking to raise $400 million, which would value the company at $1 billion. The capital infusion would help the airline increase its fleet, improve pilot pay, and enhance in-flight services to survive in India’s competitive aviation industry.
5. Udaan in Talks to Raise $350-400 Million
Udaan, India’s largest B2B e-commerce company, is in discussions with investors to raise $350-400 million. The fresh capital infusion would support the company’s plans of a public listing and sustain its strong growth momentum.
6. Wipro Aims for High Growth in Market Recovery
Wipro’s CEO, Thierry Delaporte, believes the company will experience significant growth when market conditions improve. The IT firm is facing challenges due to a slowdown in new IT projects from Western companies, but Delaporte remains optimistic about the future.
7. India Focuses on Niche Areas in Semiconductor Space
India’s government intends to focus on niche opportunities in the semiconductor space, including compound semiconductors. By harnessing these opportunities, India aims to become a global leader in the sector, particularly in areas like automobile, railways, aircraft, and power electronics.
8. India Expects Investment Commitments at Maritime Summit
India expects to sign investment pacts worth Rs 10 lakh crore during the Global Maritime India Summit. The event will showcase India’s progress and potential in the maritime domain, positioning the country as an attractive destination for maritime trade and investment.
9. Surge in Gold Purchases through Deferred and Monthly Payments
Despite record gold prices, top retail chains are witnessing an increase in jewelry purchases through deferred or monthly payment schemes. This shift in purchasing behavior indicates a growing preference for flexible payment options among consumers.
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[Source 1]: US funds urge Bloomberg Barclays to advance review to include India in bond index
[Source 2]: National Stock Exchange plans longer trading hours for futures and options
[Source 3]: Bharat Biotech to invest up to Rs 4,000 crore to fuel growth post pandemic
[Source 4]: Akasa Air plans to raise up to $400 million by diluting promoter stake
[Source 5]: B2B e-commerce firm Udaan in talks to raise $350-400 million
[Source 6]: Wipro will return to high growth as the market recovers, says CEO Thierry Delaporte
[Source 7]: India to focus on niche areas in semiconductor space, says minister
[Source 8]: India expects Rs 10 lakh crore of investment commitment at maritime summit
[Source 9]: Gold retail chains see surge in purchases through deferred and monthly payments