W Power 2024

Morning Buzz: Laptop licensing may see extension, Nazara raises Rs100 crore from Nikhil Kamath and more

Here are the top business headlines this morning to get your day started

Samar Srivastava
Published: Sep 5, 2023 09:38:33 AM IST
Updated: Sep 5, 2023 09:50:24 AM IST

Morning Buzz: Laptop licensing may see extension, Nazara raises Rs100 crore from Nikhil Kamath and moreImage: Shutterstock

Laptop licensing may see a year’s extension 

The government may extend by 9-12 months the import licensing scheme for laptops. The scheme was to kick in from November 1. The government wants to assess the response to the Rs 17,000 crore IT hardware PLI scheme, and since there has been a surge in smartphone shipments in FY23, there are fears that there could be similar retaliatory measures by other countries once the scheme kicks in.
(Financial Express)

Bain to team up with Dr Reddy’s for Cipla bid

Senior leadership teams for Bain and Dr Reddy’s Laboratories met to discuss a joint bid for Cipla. So far, the only Indian company in the fray for Cipla is Torrent. If the deal goes through, it would create a significant generics player that could rival Sun Pharma. One obstacle is the low promoter stake at 26.6 percent. Bidding for Cipla will mean that it would get diluted further.
(Economic Times)

Nazara raises Rs 100 crore from Nikhil Kamath

Nazara has raised Rs 100 crore from Nikhil Kamath at Rs 714 per share. Nazara’s shares rose 10.2 percent on the news to close at Rs 837. This will take Kamath’s stake in the firm from 1 percent to 3.5 percent. According to analysts, the funds may be deployed for freemium or gamified early learning as the real money gaming segment is facing regulatory hurdles.
(Economic Times, Business Standard)

MFIs increase focus to individual loans

Microfinance institutions are shifting from joint liability loans to individual loans as the RBI has relaxed norms. In February 2022, the RBI removed the cap on the pricing of loans. Borrowers with a household income of Rs 300,000 per year could access microfinance loans, and 25 percent of loans can be made to individual borrowers. Previously the limit was 15 percent.
(Financial Express)

Post Your Comment
Required, will not be published
All comments are moderated