Ford Motor cabinets plan to promote deserted manufacturing facility to the JSW Group

Ford Motor firm has shelved its plans to promote its manufacturing facility in Tamil Nadu—the only one in India—to the JSW Group. This fuels hypothesis that it could be contemplating a re-entry into this massive auto market after exiting over two years in the past. The Ford plant, shut since July 2022, had an annual capability of 150,000 automobiles and nearly 340,000 engines.
(Economic Times, The Times of India)

Indian IT companies accepting harder contract phrases, as orders decelerate

India’s high IT companies are accepting harder contract phrases in an effort to seize giant offers from shoppers, in a situation the place orders are beginning to decelerate in a still-uncertain world economic system. IT companies have little possibility however to simply accept contract situations reminiscent of guaranteeing minimal value financial savings, thus billing the shopper provided that sure objectives are achieved and reviewing value overruns. The IT spends from shoppers throughout the United States and Europe continues to stay weak, which is able to affect FY24 revenues of most Indian IT companies.
(Reuters India)

RBI clamps down on evergreening of careworn loans by means of the AIF route

The Reserve Bank of India has tightened norms for lenders in making investments in models of Alternative Investment Funds (AIFs), to deal with issues of evergreening of careworn loans. The financial institution now says lenders can not make investments in any scheme of AIFs, which has downstream investments both straight or not directly in an organization that has borrowed from them throughout the earlier one 12 months.
(The Hindu Businessline, Economic Times)

IndusInd Bank could promote a close to 3 % stake by means of block deal

Private lender IndusInd Bank is predicted to promote as much as 1.79 crore shares, equal to a 2.86 % fairness stake (for roughly Rs 760 crore), in Nippon AMC by means of a block deal, CNBC-TV 18 reported. The flooring value for the block deal has been set at Rs 426.60 per share, representing a 5 % low cost to the present market value. IndusInd Bank has been posting regular earnings progress in FY24, reporting a year-on-year 22 % rise in internet revenue to Rs 2,202 crore within the September-ended quarter.
(CNBC TV18, Moneycontrol)