Top headlines: Chip shortage may last 2 yrs, NBFCs ready war chest for IPOs

Business Standard brings you the top headlines at this hour

The power crisis brewing in China may throw the Indian pharma market off gear if the situation continues for a few more months, feel sources in the local industry. More on this in our top headlines this morning.

Chip shortage may last up to two years, say Qualcomm and Intel

Leading microchip providers Qualcomm and Intel say the chip shortage might last anything between four months to a year, perhaps even two years, depending on the various product categories - mobile devices, ICE, electric vehicles, appliances, data centres. Read more.

NBFCs readying a war chest of close to Rs 2 trillion to fund IPO bets

Non-banking financial companies (NBFCs) are readying a war chest of close to Rs 2 trillion to lend to high networth individuals (HNIs) for fuelling their IPO wagers. According to industry sources, a huge demand for capital amid an initial public offering (IPO) rush has led to a rise in funding cost to as much as 13 per cent from less than 10 per cent levels. Read more.

ITC consolidated PAT up 10% to Rs 3,763 crore in September quarter

Cigarette-to-hotels major ITC reported a 10.09 per cent increase in consolidated profit after tax (PAT) at Rs 3,763.73 crore in the September quarter of FY22, led by a recovery across segments. PAT was at Rs 3,418.69 crore in the year-ago period. Read more.

Power crisis brewing in China likely to hit Indian pharma companies

The power crisis brewing in China may throw the Indian pharma market off gear if the situation continues for a few more months, feel sources in the local industry. Indian players roughly import 66-70 per cent of their bulk drug requirements from China. Read more.

Delhi Assembly summons Facebook again in connection with 2020 riots

The Committee on Peace and Harmony of Delhi Assembly has summoned Facebook to appear before it on November 2 for evidence and suggestions to prevent communal disturbances like the 2020 Delhi riots. The summons says that it is a continuation of its notice sent to Facebook in February and refers to the Supreme Court’s verdict on the matter in July. Read more.

Purchasing intention gets a boost as economy shows signs of recovery

Consumers’ intentions to travel or buy movie tickets have seen a sharp rise in the past two-three months as the vaccination count rises and the economy shows signs of recovery. QuantEco Research used data from Google searches for booking Oyo rooms, travelling through MakeMyTrip, and buying movie tickets from BookMyShow, etc. to get an insight into consumer demand. Read more.