Page 638 - Industry News
Ajay Singh's shareholding in SpiceJet down by 38.55% due to new fund raise
The airline announced it is going to raise a total of Rs 2,241.5 crore through the issuance of equity and warrants
 "Ajay Singh's shareholding in SpiceJet down by 38.55% due to new fund raise")
Aviation industry expected to see 10-15% revenue growth in FY25: ICRA
The pace of recovery in the industry earnings will be gradual owing to the high fixed cost nature of the business
 "Aviation industry expected to see 10-15% revenue growth in FY25: ICRA")
Up & down the job rollercoaster: Highs for aviation & pharma, lows for IT
The game flipped in the second half of 2022, and in 2023, it has decisively turned in the favour of employers - more talent is now chasing fewer active IT jobs
 "Up & down the job rollercoaster: Highs for aviation & pharma, lows for IT")
$245 bn IT sector sees tougher terms amid scramble for contracts: Report
The tougher contracts are likely to add pressure on an industry that is already struggling
 "$245 bn IT sector sees tougher terms amid scramble for contracts: Report")
Expressed interest with resolution professional to buy Go First: SpiceJet
SpiceJet itself has been facing a cash crunch for the past several quarters. It is also dealing with multiple court cases regarding money owed to former owner Kalanithi Maran
 "Expressed interest with resolution professional to buy Go First: SpiceJet")
Telcos' satellite spectrum wait may end in 5 months; Trai to fix price
The Bill is expected to be fully debated and passed in Parliament only by the Budget session in February
 "Telcos' satellite spectrum wait may end in 5 months; Trai to fix price")
Major IT companies look to freeze intake of freshers this fiscal: Report
With approximately 1.5 million engineering graduates actively seeking IT/Tech roles, muted market sentiments and intensified skills evaluation mechanisms have created a turbulent landscape
 "Major IT companies look to freeze intake of freshers this fiscal: Report")
Over 2.9k drugs found to be substandard in tests conducted in 2022-23: Govt
Out of the 89,729 drug samples tested between April 2022 and March 2023, 2,921 drugs were found to be "not of standard quality" while 422 were identified as spurious, the Rajya Sabha was told.
 "Over 2.9k drugs found to be substandard in tests conducted in 2022-23: Govt")
Satcom firms to be allocated spectrum only for point-to-point connections
The government will allocate spectrum to satellite services companies only for point-to-point connection and not for direct transmission of services to retail consumers, sources said on Tuesday.
 "Satcom firms to be allocated spectrum only for point-to-point connections")
Growth in milk output slows in FY23 due to various diseases, LS informed
Milk production growth rate slowed down to 3.83% last fiscal year due to diseases like Lumpy Skin Disease, Parliament was informed on Tuesday.
 "Growth in milk output slows in FY23 due to various diseases, LS informed")
PE/VC investments dip to 43-month low of $1.6bn in November: Report
PE/VC funds raised $401 million in November for investing in future, which was lower than the $ 1.9 billion raised in November 2022 and $2.4 billion in October 2023, the report added
 "PE/VC investments dip to 43-month low of $1.6bn in November: Report")
Airlines likely to prune losses to Rs 3,000-5,000 cr in FY24: ICRA
The rating agency has also maintained its stable outlook on the industry in view of healthy passenger traffic growth, improved yields and a stable cost environment
 "Airlines likely to prune losses to Rs 3,000-5,000 cr in FY24: ICRA")
Increase budget allocation on health to 2.5 pc of GDP: NATHEALTH
The focus for boosting the value chain should remain on augmenting local capabilities to extend care to the most remote areas, while concurrently emphasising localisation, NATHEALTH said
 "Increase budget allocation on health to 2.5 pc of GDP: NATHEALTH")
PayCraft partners NSDL Payments Bank, NPCI to launch corporate transit card
Built on National Common Mobility Card (NCMC) specifications with offline enabled, these cards will advance the Government of India's vision of One Nation One Card, the company said
 "PayCraft partners NSDL Payments Bank, NPCI to launch corporate transit card")
Physics Wallah to expand to 100 offline centres in 2024, says co-founder
In May, Physics Wallah opened 50 offline centres, which it branded as 'Vidyapeeth Centers', with an investment of around Rs 82 crore in technologies
 "Physics Wallah to expand to 100 offline centres in 2024, says co-founder")
Construction equipment sales likely to touch double-digits this fiscal year
India is currently the world's third-largest market for construction equipment, after the US and China
 "Construction equipment sales likely to touch double-digits this fiscal year")
Only 1 in 10 engineering students graduating this year may land a job
Hiring of engineering graduates is likely to reach pre-pandemic levels, with 160,000 freshers expected to get hired
Telecom tribunal asks DoT to adjust excess Rs 755 crore collected from Vi
Last month, the Bombay High Court also issued an order in Vi's favour asking the Income Tax department to refund Rs 1,128 crore paid by the telco in taxes for AY2016-17
 "Telecom tribunal asks DoT to adjust excess Rs 755 crore collected from Vi")
Musk gets an edge over Ambani in Centre's satellite internet battle
The proposal was included in a new draft bill for the telecommunications sector, which seeks to replace the 138-year old Indian Telegraph Act that currently governs the sector
 "Musk gets an edge over Ambani in Centre's satellite internet battle")
Shipping firms brace for vigilance, price shocks over Red Sea situation
Ocean freight 10% costlier, shippers brace for further setback
 "Shipping firms brace for vigilance, price shocks over Red Sea situation")