Elon Musk to Unveil $3 Billion Investment Plans for India, Including New Tesla Factory

Brief by Shorts91 Newsdesk / 12:39pm on 17 Apr 2024,Wednesday Business

Tesla CEO Elon Musk is poised to announce a $2-3 billion investment in India, primarily for a new factory. Scheduled to meet Prime Minister Narendra Modi, Musk's visit coincides with Tesla's global challenges. India's growing electric vehicle market and recent policy changes make it an opportune time for Tesla's entry. Musk's itinerary remains undisclosed, but he is expected to reveal investment details during the visit. Tesla's interest in India has long been evident, and recent policy shifts aim to facilitate its entry into the market.

Read More at India Today

Raghuram Rajan: Young Indians Exhibit 'Virat Kohli Mentality', Seek Global Markets

Brief by Shorts91 Newsdesk / 08:17am on 17 Apr 2024,Wednesday Business

Former RBI Governor Raghuram Rajan highlights that young Indian entrepreneurs, with a 'Virat Kohli mentality', are increasingly moving abroad for business opportunities. Rajan notes they seek easier access to global markets, indicating dissatisfaction with India. He stresses the importance of enhancing human capital and skill sets domestically. Speaking at a conference on India's economic advancement, Rajan underscores the need to capitalize on the demographic dividend effectively. He criticizes current growth rates, urging job creation to fully harness India's potential. Rajan's insights shed light on the challenges and opportunities facing India's youth in the global economy.

Read More at India Today

Zee5 May Close International Operations After Resignation of Content Head Punit Mishra

Brief by Shorts91 Newsdesk / 06:33pm on 16 Apr 2024,Tuesday Business

Market rumours surfaced on Tuesday, April 16, that Zee5 is going to close its international operations in the coming days. Earlier this month, Punit Misra, the President of Content and International Markets at Zee Entertainment Enterprises Ltd (ZEEL), stepped down from his position on April 5. Zee has witnessed several lay offs and high-ranking departures in recent weeks, including Rahul Johri, who served as the President of Business, and Nitin Mittal, the President and Group Chief Technology Officer. According to market experts, Punit Mishra's failure to resurrect Zee5 in the international market has led the way to his resignation. Zee5 has been steadily losing subscriptions and revenue globally, facing stiff competition from other global players in the last few years.

Read More at CNBC TV18

Byju's Founder Will Now Manage The Company's Daily Operations Following The CEO's Resignation

Brief by Shorts91 Newsdesk / 06:14am on 15 Apr 2024,Monday Business

Byju Raveendran, founder of Think and Learn, parent company of Byju's, steps in as CEO after Arjun Mohan's resignation. The company undergoes a restructuring, consolidating into three divisions: The Learning App, Online Classes and Tuition Centers, and Test-prep. This move follows a seven-month operational review by Mohan. He transitions to an advisory role, leveraging his edTech expertise. Raveendran shifts focus to daily operations, having previously focused on capital raising and global expansion. The changes signal a strategic shift in leadership and business focus for Byju's.

Read More at NDTV

Stock Market Plunges As Sensex Srops by Over 900 Points and Nifty Falls 216 Amid Middle East Crisis

Brief by Shorts91 Newsdesk / 05:09am on 15 Apr 2024,Monday Business

Equity markets took a hit on Monday as the Sensex plunged by 929.74 points to 73,315.16, while the Nifty dropped 216.9 points to 22,302.50. The decline was attributed to global uncertainties fueled by the Middle East conflict and weak international trends. Additionally, concerns over foreign fund outflows and higher-than-expected US inflation figures dampened investor sentiment. Tata Motors, SBI, Tata Steel, and Power Grid led the Sensex losses. On a positive note, Tata Consultancy Services reported a 9% growth in net profit for the January-March quarter of FY24, driven by robust domestic business performance despite overseas challenges.

Read More at NDTV

Elon Musk's India Visit May Include Starlink Announcement with Tesla

Brief by Shorts91 Newsdesk / 06:05pm on 12 Apr 2024,Friday Business

Speculation mounts as Elon Musk's upcoming India visit sparks rumors of Tesla's entry into the Indian market. Additionally, anticipation grows for potential Starlink announcement, Musk's satellite network. Expected to meet PM Modi, Musk's 48-hour visit likely includes multiple business plan reveals. Starlink aims to compete in India's satellite communication services sector, challenging existing players like Reliance and Bharti Airtel. However, Starlink faces hurdles in securing GMPCS license due to ownership disclosure requirements. Despite licensing issues, Musk's visit may unveil new plans for Starlink's potential debut in India.  

Read More at Hindustan Times

Air India Plans Expansion with New International Flights, Including Ho Chi Minh City Route

Brief by Shorts91 Newsdesk / 04:43am on 12 Apr 2024,Friday Business

Air India announces its expansion into new international routes, including flights to Ho Chi Minh City in Vietnam, Manila, Seattle, Dallas, and Gatwick. With plans to add these destinations to its existing network of around 40 international cities, the airline aims to enhance connectivity for travelers. Increased flight frequencies to Europe and Australia are also on the agenda. The move comes amidst efforts to bolster its global presence and cater to growing passenger demand. Last year, Air India added seven new international destinations, reflecting its commitment to expanding its reach and services.            

Read More at Financial Express

IndiGo Surges to Become World's 3rd Largest Airline by Market Cap

Brief by Shorts91 Newsdesk / 05:21pm on 10 Apr 2024,Wednesday Business

IndiGo, India's leading budget carrier, saw its shares soar to a record high, closing at Rs 3,806.85 apiece on Wednesday. With a 22% jump in the last month, the airline's market capitalization surpassed Rs 1,46,000 crore ($17.5 billion), making it the world's third-largest airline by market cap. InterGlobe Aviation, the operator of IndiGo, witnessed a remarkable rise, with shares almost doubling in the past year. The surge reflects investor confidence in the airline's performance and growth prospects, marking a significant milestone in the aviation industry.

Read More at News18

Elon Musk to Meet PM Modi, Unveil Investment Plans in India

Brief by Shorts91 Newsdesk / 12:42pm on 10 Apr 2024,Wednesday Business

Tesla CEO Elon Musk is set to visit India this month to meet Prime Minister Narendra Modi and disclose investment intentions, as per Reuters. Musk's agenda reportedly includes discussions on establishing a new factory, potentially valued at $2 billion. Talks suggest Tesla is seeking local partners, with Reliance Industries emerging as a contender. Maharashtra might be favored due to its port facilities for both domestic and export operations. This move marks a significant step for Tesla's expansion into the Indian market, potentially paving the way for increased electric vehicle adoption in the country.

Read More at Hindustan Times

Tesla is Discussing Teaming Up With Reliance For An Electric Vehicle Factory

Brief by Shorts91 Newsdesk / 07:53am on 10 Apr 2024,Wednesday Business

Tesla is reportedly in early talks with Reliance Industries Limited (RIL) to set up a joint venture for building an electric vehicle (EV) manufacturing plant in India. The discussions, ongoing for over a month, aim to leverage RIL's capabilities without signaling its entry into the automobile sector. Tesla plans to invest $2 billion for its Indian ventures, eyeing locations like Gujarat and Maharashtra for the manufacturing site, with Maharashtra possibly leading due to its port infrastructure. However, no final decision has been reached yet.

Read More at India Today