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Indian winemaker Sula not losing sleep over foreign rivals - CEO

Reuters · 1y ago

Indian winemaker Sula not losing sleep over foreign rivals - CEO

India's largest winemaker, Sula Vineyards, is expanding production capacity and relying on competitive pricing to fend off foreign rivals after the Indian government reduced import duties for some Australian winemakers. Sula is ready to compete with foreign brands and is confident in its pricing strategy, with a significant portion of sales coming from a price point below 1,000 rupees ($12). The company plans to increase production capacity to 18.5 million liters per year, up from about 16 million liters, to maintain its market dominance, which currently accounts for over 50% of the Indian wine market.

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Sula Vineyards shareholder Verlinvest looks to sell up to 12.5% stake

Reuters · 1y ago

Sula Vineyards shareholder Verlinvest looks to sell up to 12.5% stake

Indian winemaker Sula Vineyards' shareholder Verlinvest is looking to sell up to a 12.56% stake in the company through a block deal, CNBC-TV 18 reported on Wednesday.

Rupee snaps six-session losing streak, gains limited by lingering outflows

Economic Times

Economic Times · 15d ago

Rupee snaps six-session losing streak, gains limited by lingering outflows

The Indian rupee halted its six-session losing streak but remained steady against the U.S. dollar, closing at 86.4050 despite the recovery of Asian currencies. Persistent dollar demand from foreign banks, possibly from foreign portfolio outflows, limited the rupee's gains. Simultaneously, Indian equity benchmarks Sensex and Nifty 50 fell by 0.6% due to losses in major technology stocks. Meanwhile, global equity markets reached record highs amid optimism over trade agreements between the U.S. and European countries.

Foreign equity investors turn to hedging on India election jitters

VCCircle

VCCircle · 1y ago

Foreign equity investors turn to hedging on India election jitters

Foreign equity investors are purchasing options to hedge against a potential decline in benchmark indexes as concerns arise over Prime Minister Narendra Modi's party losing its projected landslide victory in the upcoming Indian elections. The ruling Bharatiya Janata Party (BJP) was initially expected to win a comfortable majority, but lower voter turnout and shifting political rhetoric have dampened these expectations. Foreign investors are resorting to purchasing put options on indexes such as the Nifty 50 or the Bank Nifty in order to protect their equity portfolios.

Cryptocurrency comeback: Indian exchanges shine amid offshore challenges

Economic Times

Economic Times · 1y ago

Cryptocurrency comeback: Indian exchanges shine amid offshore challenges

The article highlights the recent surge in registrations and deposits on Indian cryptocurrency exchanges like CoinDCX, CoinSwitch, Unocoin, and BuyUcoin. This surge is attributed to fears of losing out on foreign assets as the Indian government blocked access to several offshore platforms. However, there are still challenges ahead, such as the use of VPNs to trade on non-compliant platforms and the reluctance of investors to bring back assets due to high taxation in India. The article also questions the future of foreign platforms like Binance in the Indian market.

Sensex, Nifty snap 3-day losing streak but end in the red for third straight week

VCCircle

VCCircle · 9m ago

Sensex, Nifty snap 3-day losing streak but end in the red for third straight week

Indian shares snapped a three-day losing streak, with the Nifty 50 index closing 0.42% higher, supported by gains in Axis Bank. However, the benchmarks ended the week with a third consecutive weekly loss due to disappointing corporate earnings and foreign fund outflows. Axis Bank's strong quarterly profit expectations boosted private banks, while losses in Infosys and LTIMindtree weighed on the IT index. Notably, foreign institutional investors have pulled out $8.4 billion from India in October, signaling a shift in focus towards China.

As TCS loses shine, investors place hopes on Infosys, HCLTech

Livemint

Livemint · 26d ago

As TCS loses shine, investors place hopes on Infosys, HCLTech

Tata Consultancy Services (TCS) is losing investor confidence, with its shares declining over 20% this year due to weaker revenue growth and fewer large deals compared to rivals Infosys and HCL Technologies. While TCS trades at a lower price-to-earnings ratio, raising concerns about its competitive edge, investors are shifting their focus to Infosys and HCLTech, the second and third-largest IT services firms in India, which are displaying more favorable growth prospects.

Forensic Probe Reveals WazirX’s Systems & Laptops Not Compromised In $230 Mn Crypto Heist

Inc42 · 11m ago

Forensic Probe Reveals WazirX’s Systems & Laptops Not Compromised In $230 Mn Crypto Heist

Forensic Probe Reveals WazirX's Systems & Laptops Not Compromised In $230 Mn Crypto Heist. A probe into the hack that led to the Indian crypto exchange WazirX losing more than $230 Mn from one of its multisig wallets has revealed that its systems and laptops were not compromised in the cyberattack

The rise and decline of Intel

Economic Times

Economic Times · 9m ago

The rise and decline of Intel

Intel CEO Pat Gelsinger took over a struggling company that had lost its edge in manufacturing and market share to rivals in the mobile phone and AI chip markets. Intel's history dates back to its introduction of the first commercially made programmable microprocessor in 1971. They later became a staple in the personal computing industry and were added to the Dow Jones Industrial Average. However, Intel missed out on opportunities in the mobile phone boom and faced legal disputes and antitrust scrutiny. They also struggled with manufacturing setbacks and increased competition. Under Gelsinger's leadership, Intel aims to transform into a producer of chips for other companies, investing billions in manufacturing facilities and cutting jobs to turn around their money-losing business.

Burning foreign capital to dismantle local stores not innovation: BJP MP to Zepto's Aadit

Inshorts · 4m ago

Burning foreign capital to dismantle local stores not innovation: BJP MP to Zepto's Aadit

BJP MP Praveen Khandelwal criticised Zepto CEO Aadit Palicha, who responded to Union Minister Piyush Goyal's criticism on Indian start-ups, saying his company created jobs and paid ₹1,000 crore in tax. "Claiming to create jobs and pay taxes while burning foreign capital to dismantle India's small neighborhood kirana stores is not innovation," Khandelwal, who is also CAIT's Secretary-General, said.

March has saved Nifty before: Will it be enough to end India’s brutal market slump?

Business Today

Business Today · 5m ago

March has saved Nifty before: Will it be enough to end India’s brutal market slump?

Foreign investors have divested $25 billion from Indian equities since September, with $4.1 billion in February alone, causing significant declines in Nifty indices. Historically, March has been favorable for the Nifty, often ending in gains over the past decade. However, analysts caution that historical trends might not suffice to reverse the ongoing downturn. Significant market rallying, similar to the 11% gain in 2016 driven by foreign investments, is essential to counter the current slump.

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