Vinfast to arrange battery manufacturing plant in India  

Vinfast, the Vietnamese electrical automobile firm, plans to arrange a battery manufacturing plant in Tamil Nadu. The plant to be arrange in Thoothukudi shall be separate from its car manufacturing plant. The firm has additionally began hiring for its gross sales, authorized and again workplace jobs in India. In October, the corporate had mentioned it could construct factories in India and Indonesia with a capability of fifty,000 autos yearly.  Mint  

December manufacturing drops to 18-month low  

The HSBC India PMI Index got here in at an 18-month low of 54.9 in comparison with 56 in November. The index additionally confirmed a scarcity of stress on the capability of producers. The fall comes at a time when inflation is excessive, exports have moderated and core sector progress has fallen. Growth within the second quarter of FY23 was at 7.6 p.c whereas CPI inflation was at 5.55 p.c in November.  Economic Times, Business Standard, Mint  

IPO fundraising may rise 40 p.c in 2024  

Twenty-seven corporations with plans to boost Rs 28,500 crore have secured approvals from SEBI, in response to Prime Database. This is along with the 36 corporations seeking to increase a mixed Rs 40,500 crore by means of IPOs which might be awaiting approvals. In 2023, 57 corporations raised Rs 49,434 crore by means of IPOs which was 17 p.c decrease than the Rs 59,302 crore mobilised in 2022.  Financial Express  

Nikesh Arora turns billionaire  

Nikesh Arora, who was the highest-paid govt at Google when he left in 2012, has turned billionaire. Post Google, he joined SoftBank and made $135 million in his first-year compensation there. At Palo Alto Networks, Arora was handed $125 million in inventory and choices when he joined in 2018. The firm has exceeded the targets it had set for itself and Arora’s stake is now price $830 million. This mixed together with his earlier pay makes him price $1.5 billion, in response to the Bloomberg Billionaires Index. Economic Times, Mint, Business Standard