29 Nov

NewsWala aa gya hai aapke dwar, nayi subah aur nayi khabron ke saath!
 

MARKET

Markets: India's stock market had a seesaw day on Tuesday, thanks to Adani Group stocks doing a financial cha-cha. But IT stocks were like, 'Not today,' keeping the gains in check and adding a touch of market mischief.

BUSINESS

Foxconn Makes $1.6 Billion Bet on India

What happened

Taiwanese tech giant, Foxconn, the brains behind the iconic iPhones, is set to boost its Indian presence with a hefty $1.6 billion investment. The company, also known as Hon Hai Precision Industry Co, spilled the beans in a recent filing, keeping the details tantalizingly vague, citing it's all for "operational needs." It's like when you tell your friends you've got exciting plans for the weekend but conveniently forget to give any details.

Now, with the specter of geopolitical tensions looming, Foxconn is placing a $1.6 billion bet on the Indian horse. The move aligns with a broader trend among Taiwanese electronics honchos who are shifting their business away from China.

Why it matters

Foxconn, already running the show with nine production campuses and over 30 factories in India, is no stranger to the Bollywood of manufacturing. Raking in a cool $10 billion annually, about half of its pocket change comes from its dance with Apple Inc.

• The $600 million previously earmarked for two component factories in Karnataka already has us intrigued.

•  One factory is set to produce mechanical iPhone parts, while the other will be a semiconductor haven operated with Applied Materials Inc. 

But wait, there's more! Foxconn's $700 million facility near Bengaluru's airport, likely an iPhone assembly haven, is still in the pipeline. The big question: Is the $1.6 billion an encore for these projects or a whole new blockbuster in the making?

Zoom out

As Foxconn orchestrates its $1.6 billion symphony in India, the world watches eagerly. With Apple's shadow by its side, Foxconn is not just making iPhones; it's making strategic moves in the tech tango, capitalizing on India's potential.

BIG MONEY MOVES

OYO Resurrects Self-Operated Hotels, Aims for 200 New Properties

Hospitality giant OYO is making a comeback with self-operated hotels, labeled 'Managed by OYO,' via its app and website. Eyeing partnerships with real estate developers, OYO plans to secure management contracts for 200 premium hotels across Indian metros. After shutting down the model in 2020, OYO's reboot focuses on metros and tourism hubs, including Delhi, Mumbai, and Bengaluru. 

Netweb Technologies Joins Forces with NVIDIA for AI Power

Netweb Technologies partners with NVIDIA, becoming a manufacturing force for the NVIDIA Grace CPU and GH200 Grace Hopper Superchip MGX server designs. Crafting over ten AI systems under its Tyrone range, Netweb targets applications like data science and enterprise AI, aligning with India's 'Make in India' initiative and bolstering the AI ecosystem.

BUSINESS

AMD Launches Global Design Centre in Bengaluru

What happened 

Semiconductor juggernaut AMD has pulled back the curtains on its brand-new global design centre in Bengaluru. The sprawling campus, inaugurated by Electronics and IT Minister Ashwini Vaishnaw, is set to host a battalion of about 3,000 engineers. These brains will be laser-focused on the nitty-gritty of semiconductor technology, diving deep into 3D stacking, artificial intelligence, and machine learning.

AMD is throwing down a whopping $400 million investment in India over the next five years, and this mega design centre is a cornerstone of that commitment. 

Why it matters

With a focus on semiconductor prowess, the campus aims to be a centre of excellence, shaping the future of CPUs, GPUs, and more. India's semiconductor program, championed by PM Modi, receives a vote of confidence with AMD's grand investment, showcasing global trust in Indian talent.

• The Technostar campus in Bengaluru is set to be an innovation hub, crafting top-notch techs like powerful CPUs for data centres and PCs, GPUs for data centres and gaming, and adaptable SoCs and FPGAs for embedded devices.

As the chipmaker dances into the realm of AI, machine learning, and advanced semiconductor technologies, the Bengaluru design centre becomes a vital player in AMD's global strategy. The investment not only strengthens ties with India but also speaks of AMD's belief in the exceptional engineering talent bubbling in the country.

Zoom out

AMD's Bengaluru design centre isn't just a building; it's a testament to the symbiotic relationship between global tech giants and India's talent pool. As AMD's largest global design centre, it heralds a new era of innovation, aligning with India's semiconductor ambitions.

BIG PICTURE

⚖️Lawsuit alleges Meta engineered products to exploit young users

In a legal blow, Meta, Instagram's parent company, faces allegations of deliberately crafting products to exploit vulnerabilities in young users. The lawsuit claims Meta knew of numerous complaints about underage users but disclosed only a fraction. The lawsuit brings to light internal documents revealing Meta officials' admission to engineering products to keep young users hooked. The legal battle shines a spotlight on concerns surrounding social media's impact on young minds.

🛒  Black Friday catapults online sales to a record $9.8 billion in the US

Black Friday smashed records with a colossal $9.8 billion in US online sales, a 7.5% surge from last year. Mobile shopping flexed its muscles, contributing a hefty $5.3 billion. Top-selling categories included electronics and gaming. Despite influencers nudging wallets open, price-conscious consumers navigated tighter budgets due to last year's inflation. A noteworthy $79 million came from the 'Buy Now, Pay Later' trend, spiking 47%.

BUSINESS

 Jubilant FoodWorks set to Acquire DP Eurasia for €73.36 Million

What happened

In a development that's hotter than a fresh-out-of-the-oven pizza, Jubilant FoodWorks Netherlands BV, a subsidiary of the food juggernaut Jubilant FoodWorks Ltd, is gearing up to snag a whopping 51.16% of DP Eurasia for a cool €73.36 million. Hold on to your toppings, folks – this is one cheesy deal!

Now, Jubilant FoodWorks already has a slice of the pie, owning 48.84% of DP Eurasia. DP Eurasia, the Domino’s Pizza maestro in Turkey, Azerbaijan, and Georgia, is no small fry. It boasts a whopping 694 stores, making it the heavyweight champ of pizza delivery in Turkey.

Why it matters 

For this Euro escapade, Jubilant FoodWorks is reaching into its financial cookbook. They're whipping up €73.36 million by mixing an existing term loan from HSBC with a corporate guarantee. 

But why DP Eurasia? Well, apart from dominating the Turkish pizza scene, DP Eurasia wears more than one hat. With 67 COFFY stores, it's not just about pizza; they've got the coffee game brewing too.

• JFN is proposing to grab DP Eurasia’s ordinary shares at a premium of 24.1% to the closing share price on November 27. 

JFN is eyeing a slice of this multi-flavored pie, aiming to ride the growth wave alongside DP Eurasia. 

Zoom out

As Jubilant FoodWorks adds a European chapter to its success story, the Domino's effect is spreading. With exclusive rights to Domino’s Pizza in the Indian subcontinent and Dunkin’ and Popeyes restaurants in various countries, JFN is turning the tables, bringing its flavour to the global dining table. This acquisition isn't just about pizzas and coffees; it's about creating a worldwide feast where Jubilant FoodWorks takes a big, cheesy slice of success in every market.

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