India Sees Robust M&A Activity in Early 2024
In the first quarter of 2024, India witnessed 427 merger and acquisition deals valued at $20.4 billion. Notably, Reliance’s merger with Disney’s Star India, valued at $8.5 billion, accounted for a significant portion of the total. Sectors like telecom, infrastructure, and retail dominated both in terms of deal value and volume. The quarter also saw the emergence of two new unicorns: Krutrim SI Designs and Perfios, hinting at ongoing investor confidence despite global economic uncertainties
Reliance Expands AI Capabilities with Nvidia Partnership
In a strategic move to strengthen its tech portfolio, Reliance Industries announced a partnership with Nvidia to build AI infrastructure in India. This collaboration aims to create a robust AI ecosystem in the country, positioning Reliance as a key player in the burgeoning AI sector. The initiative aligns with India’s broader digital transformation goals and is expected to drive significant advancements in AI applications across industries
Adani Group Posts Turnaround Profit in Q2 2024
Adani Wilmar, a subsidiary of the Adani Group, reported a profit of ₹311.02 crore for Q2 2024, a significant recovery from a ₹130.73 crore loss during the same quarter the previous year. This turnaround is attributed to improved sales performance and cost management across its product lines, showcasing the resilience of one of India's largest conglomerates amid fluctuating market conditions
Yes Bank Reports Robust Q2 Performance as Deposits Outpace Loan Growth
Yes Bank reported a strong performance in the second quarter of FY25, with deposit growth outpacing loan advances. This indicates a strategic shift towards stabilizing its balance sheet while gradually increasing lending activities. The bank's focus on boosting liquidity and maintaining customer confidence has been central to its recovery efforts following past challenges
ICICI Bank Partners with MakeMyTrip to Launch Travel-Focused Credit Card
ICICI Bank, in collaboration with MakeMyTrip, has launched a co-branded credit card targeting frequent travelers. The card offers a range of travel benefits, including discounts on bookings and reward points. This partnership underscores the bank’s strategy to tap into the growing consumer segment of travel enthusiasts amid rising travel demand
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