When, recently, Bharti Airtel announced a Rs 21,000 crore rights issue, analysts pointed out that its structure was similar to that of Reliance's issue in June 2020. One similarity is that shareholders in both companies have to pay only 25 per cent of the money on application. The rest is to be paid in two tranches. In Bharti Airtel's case, it is within 36 months; in Reliance Jio's, it is within 17 months.
In a major push towards 'Make in India', Apple Inc is manufacturing 70 per cent of the mobile phones, in value terms, that it sells in the domestic market, in India, according to sources aware of the development. This is a sharp rise from the figure of 30 per cent just two years ago and marks a major shift in Apple's strategy following the government's Production Linked Incentive (PLI) scheme that kicked off in FY'21. One of Apple's three vendors here, Foxconn, is currently manufacturing the best-selling model, the Apple 11, along with the Apple 10 and the Apple 12. Another contract manufacturer, Wistron, makes the Apple SE 2020. (The third, Pegatron, has yet to start production). The only models that are imported (they have limited volumes but high value) are the Apple 12 Pro and Pro Max.
The Chinese government is imposing severe restrictions on their tech companies - whether it is on data security, marketing practices or floating an IPO. Should this be music to the ears of Indian start-ups and home-grown private equity (PE) funds? Ask Indian start-ups and the answer is a resounding "yes".
The health system is trying to ensure that it isn't caught by surprise -- the way it was last time. So, hectic preparations are on.
While Lupin is working on a Remdesivir powder for inhalation, Glenmark has tied up with a Canadian Biotech firm for nitric oxide nasal spray that reduces Sars-CoV-2 viral load and thus transmission.
If things go according to plan, the vaccine would be available in the market by the end of this year.
Reliance Jio and Bharti Airtel have enough capacity to absorb over 113.9 million Vodafone Idea subscribers who are on 4G if Vodafone Idea has to shut operations.
Adar Poonawalla said he was hopeful that Covovax, the Novavax vaccine made by SII, will be launched around October this year for adults and for children by the first quarter of next year, depending on DCGI approvals.
The government will have to make substantial payments, as well as forego revenues in FY'23, if it wants to work on the survival of Vodafone Idea because it will have to extend the same incentives to the entire telecom sector. According to estimates, the industry has to spend around Rs 21,000-Rs 25,000 crore for spectrum which it bought on a deferred payment basis. Vodafone Idea has asked for a moratorium for another year (FY23). If granted, the government will have foregone the instalment payout for a third year in a row as it has already provided a moratorium for two years, giving telcos Rs 42,000 crore worth of relief.
Byju's has quietly moved into other global markets such as the UK, Australia and New Zealand. It recently launched operations in Latin America.
India is not keen to 'bow down' to demands related to indemnity against legal liabilities in case any vaccine recipient develops severe adverse reactions post inoculation.
The Tata group's tryst with mobile services, with either CDMA or GSM technology, did not really fly, forcing it to close operations and write off losses. Now the group is back in the big game, this time straddling the telecom equipment, network and technology space in India as well as the global market. To this end, it is leveraging the opportunities that flow from 5G technology through open radio access network, or O-RAN. Recently, the Tata Sons' subsidiary Panatone Finvest acquired 43.3 per cent in Bengaluru-based telecom equipment manufacturer Tejas Network for Rs 1,850 crore and announced it would buy another 26 per cent of the voting capital through an open offer.
While Covishield supplies would meet the target of 500 mn doses between August and December, it looks like Covaxin would miss the target of 400 mn unless the partner sites of Bharat Biotech ramp up very rapidly, reports Sohini Das.
Discussion has started between blank check companies in the US and Indian PEs on possible deals in certain key sectors.
But no extra risk after second dose, shows study led and funded by drug maker, reports Sohini Das.
The government may look at areas around Thonnakkal, in Thiruvananthapuram district, for the facility. If successful, this would be one of the few sites of Sputnik V owned by Russian firms outside that country. Shine Jacob and Sohini Das report.
'The Centre is planning to procure five million vials of Remdesivir ahead of the third wave. What's better is that this time, the government is paying us in advance,' said a senior executive of a Mumbai-based pharma player which makes Remdesivir. Sohini Das reports.
Mukesh Ambani's Reliance group has struck acquisition deals worth $4.2 billion with a dozen companies in just two years to expand its retail business. The latest purchase was of a majority stake in Justdial for Rs 3,497 crore. Elaborating on his acquisition strategy a few weeks ago during the AGM, Ambani stated that one of the key planks would be to acquire businesses that enhanced Reliance's offerings and experiences to customers and that they would be both physical and digital.
So far, no other vaccine has been approved globally for children below 12 years. Sohini Das reports.
Vodafone Idea Ltd (VIL) CEO Ravinder Takkar did some plain speaking. In an analyst call after its quarterly results recently, Takkar said that the main stumbling block to raising fresh capital from investors is "pricing" - telecom tariffs, in other words. Nine months ago, the telecom company's board had cleared a proposal for raising Rs 25,000 crore from investors, after the promoters made it clear that they were not ready to pump in more money. But potential investors are concerned that without clarity on tariff hikes (there have been none for more than 18 months) they might just lose their money. The lack of visibility on raising tariffs has also impelled VIL to request the Department of Telecom (DoT) for a fresh reprieve by extending the two-year moratorium on paying its spectrum instalment of Rs 8,200 crore for another year till FY23.
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