BUSINESS
India wearables market up 20% in Q1 with 13.9 mn units
The outlook for 2022 remains strong as wearables will try to attract users in Tier 2 and Tier 3 cities. "With the continuing push from the brands, Q2 (April-June period) is expected to see healthy YoY growth. The aggressive offers, sales, and marketing around the festive season in 2H22 (July-December) are expected to continue this growth momentum through the year for the wearable device categories," said Upasana Joshi, Research Manager, IDC India.
Ambuja, ACC stocks rise as Adani to buy Holcim's entire stake in cement makers
The share of the cement makers closed Monday's trade 2.3 per cent and 3.8 per cent higher, respectively, from their previous close. On Sunday, Adani Group, through an offshore special purpose vehicle, announced that it had entered into definitive agreements for the acquisition of Switzerland-based Holcim's stake in the two companies.
Musk prefers to visit Indonesia as top Indian ministers fail to impress him
The Indonesian government wants Musk to set up a world-class electric batteries industry as the country has vast nickel reserves. Indonesian President Joko 'Jokowi' Widodo met Musk in Starbase, SpaceX's rocket production facility, test site, and spaceport in Boca Chica, Texas, over the last weekend and invited him to come to Indonesia.
China's semiconductor output shrinks to 2020 level
Disrupted supply chains amid logistics issues have paralysed some of the country's largest manufacturers. "China's monthly output of chips shrunk to its lowest level since 2020, as strict lockdowns in Shanghai and other cities disrupted production in downstream industries from cars to robotics," reports South China Morning Post, quoting data released by the National Bureau of Statistics.
Snapping 6-day losing streak, indices start fresh week in green
The recent consistent decline was triggered as equity investors were concerned about the persistent high inflation globally and tightening monetary policy stance by several central banks. The domestic indices had reportedly marked their longest weekly losing streak since last week.
Brand Zenith to return with comprehensive product development, distribution strategy
According to sources, the brand is set to take a new leap of growth with a sound strategy in place and it is backed up with an exceptional resurrection plan duly supported by commensurate funds from an investing partner.
Vodafone Idea shares soar 13% on narrowing losses, rising ARPU
At 3.12 p.m., the shares of the company traded at Rs 9.5, up 13.2 per cent from the previous closing, data showed. Monday's rise is its sharpest intra-day rally during calendar year 2022. The rise was possibly because of the company's narrowing of its losses.
Crypto mayhem: $3.5 bn worth Bitcoin in Terra reserve just evaporated
Nearly 80,394 Bitcoin worth $3.5 billion were purchased by the Luna Foundation Guard, the non-profit organisation set up to promote the growth of the Terra ecosystem this year, according to Blockchain analytics firm Elliptic.
Lenskart-backed Neso Brands raises over $100 mn, appoints new CEO
Neso Brands, a Singapore-based global eyewear company, said that it will partner and invest in consumer eyewear brands and grow those by leveraging synergies across the Lenskart Group. "It is our firm belief that the eyewear brands of today will not be brands of the future. And Neso is our initiative to partner with founders globally to help create eyewear brands of the future," said Peyush Bansal, CEO of Lenskart.
After $10.5 billion Holcim deal, Gautam Adani becomes India’s second largest cement producer
After this deal, the Adani group acquired 63.19% of stakes in Swiss cement major Holcim Ltd's India operations. Swiss cement major Holcim Ltd. initiated disinvestment in its India businesses to reduce its reliance on Carbon-intensive cement production which produces high levels of Carbon emissions and thus cautioned many environmentally conscious investors.
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