Business Upside India

  Original Content- Business Upside India  The Tata Passenger Electric Mobility Limited subsidiary of  Tata Motors  Ltd has signed an agreement with Ford India Private Limited acquisition of its Sanand, Gujarat manufacturing plant for Rs 725.7 crore. This Unit Transfer Agreement (UTA) covers the plot of land, all buildings, the vehicle manufacturing plant’s machinery and equipment, and the transfer of all qualified workers of FIPL’s Sanand vehicle manufacturing operations. The Powertrain Manufacturing Plant’s land and structures will be leased back to  Ford India  by TPEML on mutually agreeable terms, allowing it to continue operating its Powertrain Manufacturing Facility. The announcement also stated that TPEML had pledged to extend job opportunities to the qualified workers of Ford India’s Powertrain Manufacturing Plant if Ford India private limited stopped conducting such operations.  Ford Sanand plant  can build 270,000 engines per year and 30...

  Original Content- Business Upside India  Amid reports about 82 children affected by  tomato Flu in India , on August 22, the Centre issued a health advisory to the states advising them to take preventive measures against the viral disease outbreak. Besides the 82 cases of  tomato flu in Kerala,  26 cases have been reported from the adjoining states of Odisha and Tamil Nadu. In the absence of any specific treatment, the only way to combat the disease is to take suitable preventive measures. As news reports mention a rare, mew viral infection, most people who are hearing about the disease for the first time might like to know  what is tomato flu.  What is Tomato Flu?  Tomato Flu is the name of the virus new to Indians, as most people had no idea about the disease until it started occurring in children across various parts of the country. It’s a self-limiting illness, as reported by Lancet, and there are no specific drugs for  tomato flu treat...

  Original Content- Business Upside India  Soon after rival Indian automaker, Tata Motors, decided to take over Ford’s plant in Gujarat,  Mahindra & Mahindra India  began investigating the potential of buying  General Motors ‘ factory in Talegaon, Maharashtra. According to those in the know, Mahindra executives have visited the Talegaon complex multiple times recently. The visits happened after the term sheet between GM and Great Wall Motors, a Chinese manufacturer that was in negotiations to buy the plant, ended on June 30. In addition to Mahindra, the British automaker MG Motor has expressed interest in the GM facility. Although MG Motor’s investment might be subject to more scrutiny and take longer in India due to its Chinese ownership one of the reasons Great Wall withdrew from the negotiations GM may assign it a lesser priority. Is it Really Going to Change Mahindra and Mahindra India’s Industry? If negotiations between Mahindra and GM result in a deal,...

  Original Content- Business Upside India  The  Supertech Twin Towers demolition  in Noida happened on Sunday (August 28) after considerable anticipation and a nine-year court fight. The towers  Ceyane  (29 floors) and  Apex  (32 floors), which were a part of the  Emerald Court  project of Supertech Ltd, were determined to breach several construction regulations and were consequently demolished. The towers had a height of about 100 meters, which makes them higher than the Qutub Minar. They were located in Sector 93A near the Noida-Greater Expressway and contain about 850 apartments. They were  India’s highest tower  to be demolished. Earlier this week, preparations from charging the structures to emptying the area were made. Residents of the adjoining apartment buildings ATS Greens Village and Emerald Court had been ordered to leave by Sunday morning by the resident welfare association (RWA). According to the police, ATS villag...

  Original Content- Business Upside India  The  67th Filmfare Awards for 2022  were announced on Tuesday night. The entire Hindi film industry gathered under one roof for the awards ceremony. Filmfare announced the  Filmfare awards 2022 nominations  on 18 August 2022, and the winners were announced on 30 August 2022. The three movies that took home the most awards for the  2022 Filmfare awards  were  Mimi starring Kriti Sanon ,  Sardar Udham starring Vicky Kaushal , and  Shershaah starring Sidharth Malhotra . Bollywood Filmfare Awards 2022 Event The  67th Filmfare Awards , which took place at Jio World Centre, celebrated movies in 2021. Jitesh Pillai, the editor of Filmfare magazine, named Wolf777news as the title sponsor during a press conference. It happened on August 30, 2022, and Colours TV will air it on September 9, 2022. Read More 

  Original Content - Business Upside India  In response to the non-banking financial company’s poor Q1FY23 earnings,  Muthoot Finance share rate  was crushed on Tuesday. As the  Muthoot Finance share rate  has slumped, it has surely created some reactions in the market. According to a regulatory filing, financial institution Muthoot Finance said on Monday that its board has recommended an interim dividend of Rs 20 per equity share (200%) for the company. More on  Muthoot Finance Share Rate The  Muthoot finance dividend  will be paid to shareholders whose names are listed as of April 26, 2022, at the close of business, both as Beneficial Owners on the list that the Depositories will provide for shares held electronically and as Members in the Company’s Register of Members for shares held physically. Read More 

  Original Content- Business Upside   Central Bank of India  (CBI) had been in the news since November 2021, when reports in the media indicated the possibility of its privatisation along with the Indian Overseas Bank (IOB). The government had decided to privatise the two public sector banks after changing the Banking Act in the parliament. As it happens on such occasions, the bourses were quick to react positively, and the shares of the banks surged on hearing the news. At that time, shares of CBI and IOB gained 10.5% and 13%, respectively, on the Bombay Stock Exchange. Finance Minister Nirmala Sitharaman announced the government’s decision to go through the parliamentary process to enable the privatisation of the two public sector banks. Government’s Stake in the Central Bank of India The decision to privatise the two public sector banks was in pursuance of the recommendation of the NITI Ayog, the think tank for national developmental projects. The government had made i...