General Awareness

BUSINESS AND ECONOMY - August 2019

Aug 2019

Jul 25, 2023

ITC Becomes the most-valued FMCG Stock after 4 Years

ITC, the cigarettes-to-hotels conglomerate surpassed Hindustan Unilever (HUL) and became the most-valuable fast moving consumer goods (FMCG) stock after a gap of more than four years.
ITC, last week, joined the elite group of companies having market valuation in excess of Rs. 6 trillion. After surpassing HUL in market capitalisation (market cap) ranking, ITC entered into top five most valuable companies list with a market cap of Rs. 6.14 trillion. With Rs. 6.09 trillion market cap HUL slipped to sixth position in the overall ranking.

ReNew Makes Strategic Appointments to its Independent Board of Directors

ReNew Energy Global Plc, a renewable energy company in India, appointed three new non-executive independent directors to its board. The new members are Paula Gold-Williams, Nicoletta Giadrossi, and Philip Graham New, and their appointments are effective from August 23, 2023, subject to approval by the company's shareholders at the annual general meeting.
One of ReNew's primary goals is to promote diversity and inclusion, and the addition of more women directors to the board is a significant step in this direction. The company is committed to maintaining a majority of independent directors on its board.

Chhattisgarh Government Signs Agreement with Tata Technologies

The Chhattisgarh government signed an agreement worth Rs. 1,188.36 crore with Tata Technologies for transforming 36 government Industrial Training Institutes (ITIs) into an Industry 4.0 Technology Hub.
Under the agreement, Tata Technologies will offer six new trades and 23 new short-term courses in the 36 ITIs, with state-of-the-art technical workshops and trainer arrangements, a state government spokesperson said. The company will also provide two trainers.
The project aims to train over 10,000 youth annually in advanced skills, fostering better employment opportunities and will also provide employment opportunities to the skilled youth.
The Memorandum of Understanding (MoU) was signed by Awanish Sharan, the director of skill development, technical education and employment department, and Pawan Bhageria, president of Tata Technologies Limited, in the presence of Chief Minister Bhupesh Baghel.

Jindal Aluminium Limited Receives AS9100D Aerospace Certification

Jindal Aluminium Ltd received a special certification called AS 9100D Aerospace. This certification recognises the company as a qualified manufacturer for the aviation, space, and defence industry.
The aerospace & defence industry places a strong emphasis on safety and quality. Standardisation and thorough research are essential factors in this sector. For a company to supply materials to aerospace & defence companies or partners, they need to meet certain prerequisites.
The AS9100D certification is a global recognition of Jindal Aluminium standards and practices, making it a significant achievement.
This certification was developed by the Society of Automotive Engineers and the European Association of Aerospace Industries and has become a benchmark for ensuring exceptional quality in aviation, space, and defence manufacturing and supply chain processes.
To earn this certification, Jindal Aluminium went through a two-stage audit process conducted by M/s NVT Services, an aerospace certification agency in India, over the course of six months (from January to June).

Jul 24, 2023

Go First's Flight Resumption Plan Gets DGCA Approval

The Directorate General of Civil Aviation (DGCA) accepted the proposed resumption plan by the Go First airline. In a letter to Resolution Professional (RP) and Accountable Manager of Go First, the DGCA said that the airline will have to comply with certain conditions for resumption of operations.
Go First will be required to comply with all applicable regulatory requirements for holding an Air Operator Certificate. It must ensure the continuation of the airworthiness or fitness of all its aircraft engaged in the operations.
The DGCA also stated that none of Go First's aircraft will be deployed for operations without undertaking a satisfactory handling flight. Any change in the company that has any bearing on the resumption plan submitted by the RP must be notified to DGCA.

Jul 23, 2023

Jaguar Land Rover Appoints Mardell as CEO

Tata Motors' wholly-owned subsidiary, Jaguar Land Rover (JLR), announced the appointment of interim boss Adrian Mardell as the Chief Executive Officer (CEO) for a three-year term. The carmaker also made acting chief financial officer Richard Molyneux's role permanent.
Mardell joined JLR in 1990 and has held a variety of positions.

Jul 22, 2023

After France and Singapore, India's UPI Payment Model Reaches Sri Lanka

India's Unified Payments Interface (UPI) technology will now be accepted in neighbouring Sri Lanka. Apart from UPI's acceptance, several agreements were also exchanged between India and Sri Lanka in the presence of Prime Minister Narendra Modi and Sri Lankan President Ranil Wickremesinghe in the national capital.
In India, the UPI payments system has become hugely popular for retail digital payments and its adoption is rapidly increasing across the world.

Nivruti Rai New as Managing Director & CEO of Invest India

Former Intel India country head Nivruti Rai joined as the Managing Director and CEO of Invest India. Rai joined Invest India after 29 years at Intel. She led Intel India as country head for seven years.
Invest India is an investment promotion agency, whose aim is to facilitate investors looking to invest in India. It also plays a role in executing the government's flagship initiatives including Make in India, Startup India, and National Single Window System.
Rai is the recipient of the prestigious Nari Shakti Puraskar for her contributions to the field of technology.

Govt. Appoints Sat Pal Bhanoo as Managing Director of Life Insurance Corporation

The government appointed Sat Pal Bhanoo as one of the Managing Directors of Life Insurance Corporation (LIC).
He was appointed in place of Siddhartha Mohanty who was appointed as Chairman of LIC.
Bhanoo's appointment is effective from the date of assumption of charge and up to the date of his superannuation on December 31, 2025 or until further orders, whichever is earlier.

Jul 21, 2023

Cognizant Appoints Six Women Executives as Senior Vice Presidents

Cognizant appointed six women for senior vice president (SVP) roles, which include a mix of promotions and new hires and marked leadership changes under Chief Executive Officer (CEO) Ravi Kumar S.
Cognizant has seen leadership changes since Kumar joined as its CEO in January 2023. One of Kumar's key priorities has been to increase Cognizant's diverse talent, including in leadership positions, in addition to focusing on three key imperatives: make the company an employer of choice in the IT services firm industry, accelerate revenue growth, and enhance operational discipline.
The sixwomen appointed as vice presidents were: Elisa de Rocca-Serra, Thea Hayden, Patricia (Trish) Hunter-Dennehy, Sailaja Josyula, Archana Ramanakumar and Sandra Natardonato.

SBI Capital Market Ropes in Rajay Kumar Sinha as MD & CEO

Rajay Kumar Sinha was appointed as the Managing Director & Chief Executive Officer of SBI Capital Markets Limited (SBICAPS).
Earlier, he was in charge of Treasury operations of SBI, managing investment portfolio, money market, equity, private equity & forex operations of the Bank.
Sinha replaced Amitava Chatterjee who moved to SBI, Corporate Centre as Deputy Managing Director, in charge of Commercial Clients Group.
Sinha brings in global markets expertise that will help strengthen SBICAPS' investment banking business in India and overseas.

Japan Second Quad Partner to Sign Semiconductor Pact with India

Japan became the second Quad partner after the United States to sign an agreement with India for the joint development of the semiconductor ecosystem and maintain the resilience of its global supply chain.
The agreement was signed between Union Minister for Electronics and IT Ashwini Vaishnaw and Japan's Minister of Economy, Trade and Industry Yasutoshi Nishimura in the national capital.
The nations will create an implementation organisation that will work on government-to-government and industry-to-industry cooperation.
With around 100 semiconductor manufacturing plants, Japan is among the top five countries to have a semiconductor ecosystem.

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