Electronic Financial News

Dixon Technologies surged 2% to hit a new 52-week high at Rs 5,379.8 in Thursday's trade on BSE after its wholly owned subsidiary- Padget Electronics Private Limited entered into an agreement with Xiaomi to carry out manufacturing of smartphones and other related products for Xiaomi. The manufacturing will take place at Padget’s manufacturing facility in Noida. Analysts say the deal will help Xiaomi India leverage Dixon’s status of being cleared to receive sops under the government’s production-linked incentive (PLI) scheme for mobile manufacturing. And for Dixon, it will mean another big-ticket contract, assuring revenue for its mobile manufacturing business, which contributed the largest — 46% — to its total revenue of FY4Q. Under the PLI scheme, Dixon has so far received around Rs 110 crore as incentives for meeting the incremental production targets.

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Cipla: Promoters of India’s fourth-largest drugmaker are in advanced talks with two consortiums—one led by Torrent Pharmaceuticals Ltd, with the participation of prominent family offices, and the other a group of buyout firms led by BPEA EQT and General Atlantic—to sell a controlling stake for $6-7 billion, two people with direct knowledge of the matter told Mint. Dixon Technologies: The company said its subsidiary, Padget Electronics entered into a strategic agreement with Xiaomi Technology India. This agreement encompasses the manufacturing of smartphones and various related products exclusively for Xiaomi.

Dixon Dixon's arm Padget Electronics said it has entered into an agreement with Xiaomi to carry out manufacturing of smartphones and other related products for the company. KP Energy KP Energy has commissioned a further 10.5MW (Phase-V) ISTS connected wind power project comprising 5 numbers of WTGs of 2.1MW each at Sidhpur site in Devbhoomi Dwarka. Read more: Here's the trade setup for today's session Barbeque Nation The company has entered into a share subscription and share purchase agreement to acquire the equity shares of Blue Planet Foods by the company and its subsidiary Red Apple Kitchen Consultancy. L&T L&T said the settlement of bids, return of unaccepted equity shares and payment of consideration to eligible shareholders who participated in the buyback will take place on September 28 instead of September 29. KEC International The company has received orders from various GST authorities on September 13 and September 16. Tata Power Tata Power's subsidiary Tata Power Renewable Energy will set up a 41 MW captive solar plant at Thoothukudi, Tamil Nadu for TP Solar Limited (TP Solar) new greenfield 4.3 GW solar cell and module manufacturing facility located at Tirunelveli. ONGC ONGC has inked an agreement with NTPC to develop clean energy, ET Now reported.

Digital India Bill is likely to define and encode in law various online offences such as cryptojacking, astroturfing, dogpiling or cyber-mob attacks, dogwhistling, swatting, gaslighting and catfishing, people in know of the development told ET. These offences are likely to be included under the broad category of user harm, and it may also define the penal provisions associated with them, one of the persons said.

Two years after selling $11.4 million worth of wine from his cellar, the Taiwanese billionaire Pierre Chen is set to sell an even bigger tranche starting this fall. Some 25,000 bottles, worth an estimated $50 million, will go to auction at Sotheby’s in five dedicated auctions over the next 12 months. The first will be staged in Hong Kong in November.

Indian Institute of Science (IISc) have developed a fully indigenous gallium nitride (GaN) power switch that has potential application in systems such as power converters for electric vehicles (EVs) and laptops, as well as in wireless communications. The entire process of building the switch—from material growth to device fabrication to packaging—took place inhouse, at the Centre for Nano Science and Engineering (CeNSE), IISc said in a press statement.

hybrid cars because in the country, 75 per cent of the electricity is made from coal, according to R.C. Bhargava, the Chairman of Maruti Suzuki Ltd. He made the remarks while addressing the 50th National Management Convention organised by All India Management Association (AIMA). Bhargava said that the electric cars will not be clean until India gets at least 50 per cent of its electricity from renewable sources.

SEBI). The deadline to add nominee in mutual funds is September 30, 2023 for now. However, there are chances that SEBI may announce the extension in coming days. This is because Sebi extended the deadline for existing demat account holders to offer a choice of nomination by three months to December 31, 2023 on September 26, 2023. Previously, the deadline for existing eligible trading and demat account holders to provide a nomination preference was September 30, 2023. Also read: Trading account nominee rule changed; last date to add demat account nomination extended According to the CAMS website, “Providing nomination or Opting-out confirmation has already been mandated in the case of new MF investors for folios created from 01-Oct-2022. Nomination in folios held by investors where folio was created prior to 01-Oct-2022 must be complied with on or before 30-Sep-2023 by either submitting nominee details or by providing Opt-out declaration.” Please keep in mind that if the required information is not registered within the above timeframes, transactions such as Redemptions, SWP, Switch, STP will be frozen in the corresponding folios beginning October 1, 2023. Also read: Give nominee details for mutual funds by this date to avoid MF folio getting frozen Mutual fund unit holders can add nominee or opt-out of nomination by providing the declaration.

festive season sales are expected to bring the steepest online discounts since Covid, up to 60% in certain categories, with several ecommerce majors indicating a push to expand volumes. Walmart-owned Flipkart, Amazon India, Reliance Retail's Jiomart and Ajio, as well as Tata Neu are all expected to roll out attractive offers across categories such as smartphones, electronics, fashion and fast-moving consumer goods (FMCG). Executives of the brands selling online said a 10-20% higher budget from last year has been allocated for online promotions, including discounting, this year, leveraging lowering input costs. Average discounts are estimated at 20-30% in the electronics segment, 50-60% for fashion products and 30-40% for general merchandise. Mid-to-premium blitz In a rare move, ecommerce marketplaces and platforms have also lined up pre-festive sales from this week that will run till the main sales begin around October 8-10. Emails sent to Amazon, Flipkart, Reliance Retail and Tata Neu remained unanswered till press time. Discounts are likely to be the steepest for mid-to-premium models as companies want to improve their festive season sales growth over last year. Smartphone brand Realme, for instance, is going to spend ₹800 crore on consumer offers this season, compared with Rs 700 crore last year. Mobile phone industry researcher Counterpoint Market Research expects smartphone brands to offer discounts upwards of 10-15% this year, and as high as 20-25% on their 4G models, said Tarun Pathak, its director of research.

DGFT) has opened the window for registration of companies seeking to import IT hardware such as laptops and tablets, with a one-week target for approval of an application. As per officials aware of the details, companies need to provide value and volume details around import/export of hardware along with domestic manufacturing for the past three years. The firms also need to disclose the country of origin for imports. «The format for registration has been shared and companies can revert if some things need to be fine-tuned.

₹109,675.40, ₹40,830.20, and ₹39,090.85, respectively, on the BSE on Tuesday. A steep price puts many such stocks beyond the reach of a large number of small investors. However, the committee’s proposal to allow fractional shares was specific to the context of issuing fresh capital.

The American consumer is feeling less confident this month, particularly about the future, as expectations persist that interest rates will remain elevated for an extended period

burglary in the national capital, thieves decamped with jewellery after creating a hole in the wall of the strong room of a shop in the Bhogal area with the owner stating that it had “jewellery worth around Rs 20-25 crores”. Delhi Police said it was a “big incident of burglary” and that they were conducting an investigation. Sanjeev Jain, owner of the jewellery shop in the Bhogal area which was burgled, told ANI that they closed the shop on Sunday and when they opened it on Tuesday there was a lot of dust in the entire shop. He said the CCTV camera had been damaged. “We closed the shop on Sunday and when we opened it on Tuesday after an off on Monday, we saw that there was dust in the whole shop and there was a hole in the wall of the strong room… We think they (thieves) have looted everything.

Digital payment through Unified Payments Interface (UPI) has seen a multi-fold jump with transactions crossing a landmark figure of 10 billion in August primarily driven by Person-to-Merchant (P2M) transactions, a report said. The number of UPI transactions in January 2018 was 151 million, and it reached 9.3 billion in June 2023, primarily driven by the growth in P2M transactions, the report by Worldline said. In January 2022, P2M transactions accounted for 40.3% of all UPI transactions compared to 57.5% in June 2023 and this percentage is likely to grow further, it said.

Kerala Police along with his friend for allegedly giving false statement in which he said that he was assaulted by six persons near his home in this southern Kerala district and 'PFI' was written on his back. A senior police officer of the district said that no arrests have been recorded in the case so far and the statements of the soldier -- Shine Kumar -- and his friend were being recorded. "Further action would be taken after verifying the contents of their statements," the officer said to news agency PTI.The soldier friend has said that Shine Kumar wanted to become famous and that is why this entire act was carried out.

Also read: Don't have a PAN or Aadhaar number? You cannot claim an income tax refund The Union Ministry of Electronic and IT said that Moody's report "does not cite either primary or secondary data or research in support of the opinions presented in it". Moody's in its report had said that Aadhaar's system often results in service denials, and questioned the reliability of biometric technologies, especially for manual labourers.

Digital India (DIA) Bill is ready, and will be released for consultation soon, a top official told ET. The Bill, which will replace the 23-year-old IT Act, is likely to be tabled in the Parliament during the later part of the winter session, the official said. “The draft of the Digital India Bill is almost ready; it will be released soon,” said the official. Once the industry and stakeholder consultations are completed, the final draft of the Bill will be tabled in the Parliament.

Maharashtra BJP unit, Chandrashekhar Bawankule, has been facing flak for asking his party cadres to take out media persons for 'tea' to ensure that they don't write anything negative against the BJP till the 2024 polls. Bawankule's audio clip, where he is speaking to his cadres, has gone viral in the state. «Journalists should not write against us till 2024.

₹100-200 crore, the person added. Queries sent to a spokesperson for Samsung India remained unanswered till Monday evening. The ministry of electronics and information technology (IT) and the Directorate General of Foreign Trade under the ministry of commerce will set up an import management system to begin registering companies that import IT hardware, including laptops and servers, from 1 November and require them to reduce their imports by imposing annual quotas.

1) Arabian Petroleum The initial public offer of Arabian Petroleum is completely a fresh issue of Rs 20.24 crore. The IPO is priced at Rs 70 apiece. About 50% of the offer is reserved for retail investors and the rest 50% is set aside for other investors. The company is in the business of manufacturing a wide range of lubricants including specialty oils, coolants, etc., used for application in automobiles and industrial machines and appliances. Net proceeds from the issue will be used for working capital requirements, general corporate purposes, and issue expenses. Hem Securities is the lead manager for the IPO, while Purva Sharegistry India is the registrar.2) Newjaisa Technologies Newjaisa Technologies' Rs 40 crore SME IPO is an entirely fresh issue of 84.96 lakh shares.