Mobile World Congress 2024: This company is making a smart chassis that can drive cars; Why ESG is critically important; Startups & more
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Paytm share price: Macquarie shares view on Vijay Shekhar Sharma's resignation from payments bank board
Shares of One97 Communications, parent of Paytm, gained 5% in trade Tuesday after the fintech major informed the exchanges that Vijay Shekhar Sharma has resigned from the Board of embattled Paytm Payments Bank Ltd (PPBL). The stock, which was locked in an upper circuit limit of 4.99% in the last trading session, recovered 30% from February 15 low of ?428.
Following the development, Macquarie has maintained its 'Underperform' rating on the One 97 Communications Ltd stock with an earlier target price of ?275 per share, as the global brokerage believes the survival of Paytm Payments Bank is in question, even as Sharma has stepped down from the bank board.
Whirlpool Corp CEO cites higher valuation behind India stake sale, says "not leaving the country"
Whirlpool Corporation CEO Marc Bitzer said that the company is not leaving India and that they remain bullish on the country and the business growth prospects here for the long term.
"We are not leaving India, we believe in India long term," Bitzer said in an interaction with CNBC on Monday.
He also spoke about the company's decision to sell 24% stake in the India entity via block deals, consequently bringing their stake down to 51%. "We took our share down to 51% in India," he said. Bitzer termed the stake sale to be an "asset arbitrage" as the India unit trades at a higher multiple compared to the global parent.
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Lenovo unveils transparent laptop – A glimpse into the future with MicroLED display
Looking at Lenovo’s transparent laptop display is like looking into the future — or, more accurately in this case, looking through the screen. It’s hard to wrap one’s brain around a see-through display that, believe it or not, manages to deliver sharp, punchy visuals while still allowing you to a glimpse behind the MicroLED display. Lenovo says this is the world’s first transparent display laptop concept.
Mobile World Congress 2024: This company is making a smart chassis that can drive cars
Aptiv, an Irish-American automotive solutions supplier, showcased the “future of mobility” at the ongoing Mobile World Congress in Barcelona. The company, which specialises in developing greener, interconnected systems for vehicular mobility, displayed the “skateboard”, a software-powered bed replete with chipsets to run a self-driven automobile. All one needs to do is build an automobile on this bed, and voila, you have a smart car ready to go, pun intended.???
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Why should invest in India's energy theme through mutual funds
India is one of the fastest growing economies in the world, with a population of over 1.4 billion people and a huge demand for energy. Under the Atmanirbhar vision, India's energy sector is undergoing a major transformation, as it seeks to provide dependable, affordable, and sustainable energy to its citizens, while also reducing its carbon footprint and improving its air quality. By announcing incentives for the green energy segment, the interim budget for 2023-24 also touched upon this vision.?
Sample this. India’s per capita energy consumption is one-third of the global average. On the contrary, China's consumption is 4.4 times of India. Even peers like Thailand, Indonesia and Vietnam are also at 2.75x, 1.4x and 1.8x of India.
Small savings schemes on a roll — SCSS, Monthly Income Scheme inflows more than double
The government's small savings schemes portfolio has experienced a significant surge, led by the Senior Citizen Savings Scheme (SCSS) and the Monthly Income Scheme (MIS), both reporting a more than two-fold increase in their mop-up compared to the preceding year.
This surge positions the government well to meet its small savings scheme target of ?4.37 lakh crore, as per official sources.
Government sources have confirmed that the financial year 2024 (FY24) small savings mop-up has reached ?2.77 lakh crore so far, marking a rise from ?1.91 lakh crore recorded in FY23.
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Why ESG is critically important
Whom should corporations serve —shareholders or society — was a debate triggered between two professors of law in the early 1930’s. Should corporations only be driven by profits or do they also serve a larger purpose? A seminal paper anchored by the UN titled Who Cares, Wins, used the ESG terminology for the first time to indicate Environment, Social and Governance.
The UN report highlights the need for sustainable development — today ESG has not just become fashionable buzz words, but an acknowledgement that that these are critical for the future of? society and mankind.
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Govt to look at change of ownership holding of fintechs to enable regulatory compliance
Amid the crisis at Paytm Payments Bank, Finance Minister Nirmala Sitharaman met fintech leaders on February 26 and announced that government authorities will look into changes in the ownership control of listed fintech firms for better regulatory compliance.
According to the government statement following the meeting, the Reserve Bank of India (RBI), Department for Promotion of Industry and Internal Trade (DPIIT) and Ministry of Finance will look at the change of ownership holding/control of listed fintech companies to enable them to be in-sync with regulatory compliance.
Venture capital firm Peak XV inducts third cohort of Spark Fellowship programme with 16 women founders
Venture capital firm Peak XV has launched the third cohort of Spark with 16 female founders across 14 startups.
Women founders building artificial intelligence and healthcare solutions form the majority of the current cohort, with four companies in each of the categories, with the rest operating in SaaS, B2B and consumer segments.
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Russia showcases tourism potentials for Indian travellers in Moscow
Moscow Tourism is making its mark at South Asia's Travel & Tourism Exchange (SATTE 2024) exhibition held in Greater Noida from February 22 to 24. The delegation of representatives from the Moscow City Tourism Committee and the Made in Moscow project team was one of the largest at the event, showcasing the vibrant tourism offerings of the Russian capital for Indian tourists.
Representatives from Moscow highlighted the city's flagship projects, Moscow Estates festival which has garnered attention among international tourists for its immersive experiences. Moscow boasts a rich historical heritage, with over two thousand meticulously restored architectural marvels.
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