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KP Green Engineering has successfully secured orders totaling Rs. 756.40 crore. This significant achievement highlights the company's growing presence and capabilities in the engineering sector, positioning it for further growth and development in the industry.
Goldman Sachs (Singapore) Pte has acquired shares worth Rs 281 crore in Hindustan Aeronautics Ltd (HAL) and Zomato through block deals on March 28. The firm purchased 385,774 shares of HAL at Rs 4,176.25 each, while also buying 6,007,412 shares of Zomato at Rs 199.50, both from Kadensa Master Fund. Despite a 57.24% drop in Zomato's net profit for Q3 FY25, its revenue surged 64% to Rs 5,405 crore.
Goldman Sachs has cut target prices for Indian IT stocks by 3% to 32% due to lower revenue growth forecasts linked to US macroeconomic uncertainty, which significantly impacts India's IT sector. The firm downgraded LTIMindtree to 'Neutral' due to its high exposure to discretionary spending and premium valuations, while Tata Consultancy Services is viewed more favorably due to its diversified revenue and margin visibility. Analysts warn that a prolonged economic downturn could lead to project cancellations and further strain on the IT sector.
Southeast Asia's tech scene faces challenges as startup funding declines for the third consecutive year, with only a few deals reported this week. Notable funding includes India's Apna Mart raising $25 million, while M&As feature Dubdub.ai's acquisition by Observe AI. Despite setbacks, there is optimism for continued innovation and problem-solving in the region.
An Indian appeals court has ruled that Google's app store billing policy is anti-competitive, affirming findings from the Competition Commission of India. While the initial fine of 9.4 billion rupees was reduced to 2.2 billion rupees, the court upheld that Google abused its market dominance. This ruling adds to Google's ongoing global antitrust issues, including a significant fine from the European Union.
Goldman Sachs has shown confidence in Hindustan Aeronautics Ltd (HAL) and Zomato by purchasing significant shares in block deals on March 28, 2025. It acquired 385,774 shares of HAL at ₹4176.25 each, while also buying 6,007,412 shares of Zomato at ₹199.50 each, both from the Kadensa Master Fund. HAL's stock has surged over 35% in the past month, bolstered by positive earnings outlooks and new contracts with the Ministry of Defence.
BYD is set to invest $10 billion in its first electric vehicle factory in India, located near Hyderabad, after acquiring 500 acres of land. The facility will produce 600,000 EVs annually by 2032 and include a battery unit with a capacity of 20 GWh per year, reflecting India's growing attractiveness to global EV manufacturers.
S Krishnan, the secretary of MeitY, has advised stakeholders to "wait and watch" regarding the $3 billion electronics Production-Linked Incentive (PLI) scheme. This statement reflects a cautious approach as the initiative unfolds, emphasizing the need for patience in assessing its impact.
Voler Cars, a profitable and debt-free employee transportation service provider, is set to go public, emphasizing financial transparency and sustainable growth. With a fleet of 2,500 pooled cars and partnerships with Fortune 500 clients, the company aims for 30% annual growth while maintaining an asset-light model to adapt to market trends. Key targets include expanding into new cities and enhancing technology for operational excellence.
The electronics sector is set to experience significant job growth due to the new Production-Linked Incentive (PLI) scheme, as highlighted by Ashwini Vaishnaw. This initiative aims to bolster employment opportunities and enhance the industry's overall development.
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