Business GK and Trade Awareness- September 21, 2023
One-Liner Questions:
- Who is Glenmark Pharmaceuticals Ltd (GPL) divesting its stake to?
- What is the equity valuation of Glenmark Life Sciences after the divestment?
- How much of a stake is being sold in government-owned power major SJVN?
- What has happened to the crypto job market in India between August 2022 and 2023?
- Who is acquiring Splunk and for how much?
- What economic value is Generative AI (GenAI) expected to generate annually?
- What is the dispute between SpiceJet’s Chairman and a Delhi businessman about?
- What did the Finance Ministry say about household savings in the country?
- How much has the IPL ecosystem value increased?
- How is Nasscom reacting to the ongoing India-Canada diplomatic row?
- Why did General Motors idle its Fairfax plant in Kansas?
- What trend did Nifty show on Thursday?
- What is the focus of STL’s new manufacturing facility in the US?
- How are domestic IT firms in India responding to deteriorating relations with Canada?
- What operation did the Income Tax department of Gujarat launch in Ahmedabad?
Answers:
- Glenmark Pharmaceuticals Ltd (GPL) is divesting its 75 per cent stake in Glenmark Life Sciences to Nirma Limited.
- The equity valuation of Glenmark Life Sciences after the divestment is Rs 7,535.4 crore.
- A 4.92 per cent stake in SJVN is being offered for sale in the stock market.
- The crypto job market in India saw a decline of 64.20 per cent in job postings and a 15.20 per cent drop in job searches between August 2022 and 2023.
- Cisco is acquiring Splunk for about $28 billion.
- Generative AI (GenAI) is expected to generate economic value worth $2.6-$4.4 trillion annually.
- The dispute is about a share purchase agreement where the businessman paid Rs 10 lakh for 10 lakh shares but did not receive them.
- The Finance Ministry dismissed fears about household savings falling to a multi-decade low as a reflection of distress in the economy.
- The IPL ecosystem value has increased from Rs 87,000 crore to Rs 92,500 crore, or about 6.3 per cent.
- Nasscom said it will engage with stakeholders to track the impact of the India-Canada diplomatic row and support IT and tech companies if needed.
- General Motors idled its Fairfax plant in Kansas due to a United Auto Workers (UAW) strike.
- Nifty fell on Thursday, indicating bearish sentiments and is expected to remain in the 19,645-19,865 band for the near term.
- STL’s new $56 million manufacturing facility in the US focuses on driving rural broadband build.
- Domestic IT firms in India are adopting a “wait and watch” approach in response to deteriorating relations with Canada.
- The Income Tax department of Gujarat launched a search operation in Ahmedabad to shed light on potential large-scale benami transactions.
Business GK and Trade Awareness- August 6, 2023
What was the first-day sales figure for Xiaomi’s Redmi 12 Series launch in India?
Answer: Over 300,000 units.
Why is the Indian government considering reducing import duty on wheat?
Answer: Due to rising domestic prices of wheat.
At what price per quintal have wheat prices gone up in India?
Answer: Rs 2,500 per quintal.
How much has Astra reduced its workforce by?
Answer: Approximately 25%, including around 70 employees.
Why is Elon Musk’s X Corp unable to pay verified creators on time?
Answer: Flooded with requests for payments as part of its ad revenue-sharing program.
What is the new deadline for the Central government’s decision on restricting laptop and computer imports?
Answer: November 1.
What is the amount that SoftBank is suing IRL for due to fake user base and growth?
Answer: $150 million.
What caused the UN’s FAO All Rice Price Index to increase significantly?
Answer: India’s prohibition of non-parboiled Indica rice exports.
How much did the FAO Food Price Index increase in July from the previous month?
Answer: 1.3%.
On what occasion did Myntra highlight its made-in-India D2C brands supporting handloom weavers?
Answer: Eighth Handloom Day.
Who reported that FPIs turned sellers in the Indian market after sustained buying?
Answer: V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
What percentage increase in losses due to smuggling did the Indian government face from 2010 to 2020?
Answer: 163%.
What is the financial impact of the tax loss due to smuggling across five industries?
Answer: Rs 58,521 crore.
Which two top-level executives recently exited Ola Electric ahead of their IPO plans?
Answer: Slokarth Dash (Head of Strategy and Planning) and Saurabh Sharda (Head of Growth and Corporate Affairs).
When did Mahindra University hold its 2nd Annual Convocation?
Answer: August 5.
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