Business Today 18 August 2024

With the Narendra Modi-led NDA government’s sharp focus on infrastructure creation, one of the sectors being keenly watched is cement. Some years ago, India’s cement industry was fragmented, barring a few large players. Then, in 2005, Swiss cement major Holcim entered by acquiring Ambuja and ACC. This made Holcim the largest player, followed by the Kumar Mangalam Birla-led UltraTech Cement. But another development—the global merger of Holcim with Lafarge of France in 2014—impacted its India operations, slowing it down considerably. Meanwhile, UltraTech decided to step on the gas and up its M&A game, acquiring assets aggressively to increase its capacity. Cut to 2022, and Gautam Adani’s Adani Group threw its hat in the cement ring by acquiring Ambuja and ACC in a $10.5-billion deal that, in one stroke, made it…

ZORAWAR, THE INDIGENOUS LIGHT TANK JOINTLY DEVELOPED BY DRDO AND L&T IN LESS THAN TWO YEARS, IS LIKELY TO BE INDUCTED INTO THE INDIAN ARMY BY 2027, ENHANCING INDIA’S FIREPOWER, ESPECIALLY IN MOUNTAINOUS TERRAIN 25 tonnes Maximum weight of the tank being developed for deployment in the high-altitude regions of Ladakh and other border areas ₹17,500 crore Estimated cost of the 354 Zorawar tanks the Indian Army plans to procure ₹1.72 lakh crore Capital outlay for defence services in the Union Budget 2024-25—9.7% higher than the Budget allocation in 2023-24 SOURCE PIB, MAKEININDIADEFENCE.GOV.IN, CMIE ECONOMY OUTLOOK, MEDIA REPORTS.…

RISING FISCAL COMFORT INDIA’S FISCAL DEFICIT HAS DECLINED OVER THE PAST THREE YEARS, ALLOWING THE GOVERNMENT TO CREATE ASSETS RE REVISED ESTIMATES BE BUDGET ESTIMATES SOURCE CMIE ECONOMIC OUTLOOK, BUDGET DOCUMENTS ₹38.2 LAKH CRORE TOTAL BUDGETARY ALLOCATIONS FOR CAPEX IN THE PAST FIVE FINANCIAL YEARS, INCLUDING ₹11.11-LAKH CRORE IN BUDGET 2024-25 11.2 PER CENT SURGE (YOY) EXPECTED IN THE NET TAX REVENUE OF THE GOVERNMENT AT ₹25.83 LAKH CRORE (BUDGET ESTIMATES) FOR FY25 ₹59,000 CRORE WORTH OF INFRASTRUCTURE PROJECTS ANNOUNCED FOR BIHAR IN THE UNION BUDGET 2024-25 ₹15,000 CRORE ALLOCATED IN THE UNION BUDGET 2024-25 TO ANDHRA PRADESH FOR DEVELOPING THE CAPITAL CITY OF AMARAVATI SURGING TAX INFLOWS THE INCREASE IN TAX REVENUES HELPS SUPPORT THE GOVERNMENT’S DEVELOPMENT PROGRAMMES PA IS PROVISIONAL ACTUALS SOURCE ECONOMIC SURVEY THE LION’S SHARE ROADS,…

Imagine a company that started its journey in a small garage office in Delhi with a bold vision of making financial services access easy and enriching worldwide in the late 1980s and, over the next thirty plus years, grew to become a global leader in banking and financial services technology. That's the story of Nucleus Software - a tale of relentless innovation, unwavering commitment, and transformative growth. From launching India's first online ATM to managing over $1200 billion in loans worldwide today, Nucleus Software has been a beacon of excellence dedicated to the BFSI sector. At the heart of Nucleus Software is a mission to revolutionize the banking and financial services sector. Guided by visionary leadership of Mr. Vishnu R Dusad, the company has grown into a trusted partner for…

ON JULY 19, 2024, the world witnessed an unexpected and widespread technological disruption. A routine software update from cybersecurity firm Crowd-Strike triggered a significant global IT outage, affecting approximately 8.5 million Windows devices. Tech giant Microsoft, which provided these figures, highlighted the event as a stark reminder of the interconnectedness and fragility of our modern technology infrastructure. This incident not only disrupted daily operations for millions but also underscored the delicate balance that keeps our digital world running smoothly. The update, intended to enhance security, instead triggered a “blue screen of death” (BSOD) across various industries. Airlines grounded flights, passengers at Indian airports received handwritten boarding passes, and hospitals and businesses faced significant disruptions. The economic impact, though not yet fully quantified, is substantial. A report by Cloud Zero, a…

“PEOPLE REMEMBER HOW Maruti [Suzuki India] grew after its IPO (initial public offering), so we wanted to bring that for the public investors, to be part of our journey if they wish to,” Bhavish Aggarwal, Founder of Ola Electric Mobility, said in a recent podcast, drawing a comparison to Maruti’s IPO 20 years ago. Market analysts, however, think that Ola Electric Mobility, which is hitting the capital markets soon, must reach profitability first. This will be the first public listing by a domestic electric vehicles (EV) company. The public offer, which will open from August 2-6, is a combination of a fresh issue of ₹5,500 crore and an offer for sale of up to 84.94 million equity shares by the promoters and investors. The company will raise up to ₹6,146…