Business and Economics - General Knowledge Questions

Correct Answer :   L&T and Navantia

Larsen & Toubro (L&T) on Monday (10th July 2023) announced that it has signed a teaming agreement with Spanish-based Navantia for submission of a techno-commercial bid for the Indian Navy’s prestigious P75 (India) submarine programme.

P75 (India) Submarine Project is expected to be valued at €4.8 billion (over Rs 43,500 crore) and is India‘s largest defence acquisition project.

L&T and Navantia signed an memorandum of understanding (MOU) for the programme on April 11, 2023, at Madrid, which has now culminated in this teaming agreement.

As per the agreement, Navantia would carry out the design of P75(I) submarines based on its S80 class of submarines. The first S80 class submarine was launched in 2021 and is undergoing sea trials prior to its delivery to Spanish Navy at the end of 2023.

Apart from S80 class, Navantia has been involved in design and construction of Scorpéne class of submarines together with DCNS (Now Naval Group) of France, which have been exported to Chile and Malaysia. Navantia has also been involved in the Scorpene submarines (Kalvari class) built in India including handholding of the Indian yard.

Project 75 (India) :

* Project 75 (I) requires the Indian bidder to tie up with a Foreign Collaborator (FC) and execute the programme for delivery of six conventional submarines equipped with Air-Independent Propulsion (AIP), while achieving targetted Indigenous Content.

* This would also be followed by a 30-year lifecycle sustenance contract of similar value. P75(I) would be the first programme to be processed under the ambitious Strategic Partnership (SP) model of acquisition of the Ministry of Defence.

* P75(India) programme calls for integration of an AIP system.

* “Navantia’s 3rd Generation AIP solution is the most advanced and efficient AIP system in the world, apart from also being the most compact, easiest to exploit and maintain and environment friendly. It uses bioethanol as a source of hydrogen which is known to be cost efficient, easily available, and does not call for any special infrastructure,” said Larsen & Toubro in its official statement..

Source : CNBC

Correct Answer :   Reliance Industries

As per Hurun India's 2022 Burgundy Private Hurun India 500 list, With a whopping value of Rs 16.4 lakh crore, billionaire Mukesh Ambani's Reliance Industries Ltd is the most valuable private company in India followed by Tata Consultancy Services (TCS) with Rs 11.8 lakh crore and HDFC Bank with Rs 9.4 lakh crore.

According to the report, the value of Reliance decreased by 5.1 per cent, or Rs 87,731 crore in the last six months. While the total value of TCS increased marginally by 0.7 per cent and HDFC Bank increased by 12.9 per cent.

Reliance is also the highest taxpayer with a payout of Rs 16,297 crore and the most profitable company with a bottomline of Rs 67,845 crore in 2022-23.

Adar Poonawalla's Serum Institute of India was ranked as the most valuable unlisted company in the country with Rs 1.92 lakh crore in value.

* The vaccine maker overtook National Stock Exchange which was pushed to the No. 2 spot with Rs 1.65 lakh crore in value.

* Byju's was placed at No. 3 with Rs 69,100 crore value.

The biggest gainers were HDFC Bank, ITC and Housing Development Finance Corporation, by absolute value.

Valuation of Adani Group's eight companies more than halved in the six months to April 2023 against just a 6 per cent decline in the top 500 non-government companies.

Adani Total Gas lost 73.8 per cent of its value, Adani Transmission saw a decline of 69.2 per cent, while Adani Green Energy was down by 54.7 per cent, the report said.

"The eight companies in the Adani Group have a combined value of Rs 9.5 lakh crore and constitute 4.5 per cent of the total value of 500 top companies. The Adani Group companies in the review period decreased their value by 52 per cent or Rs 10.25 lakh crore against a decline of just 6 per cent by the top 500 companies" ..

Source : Economictimes

Correct Answer :   MRF

MRF became the first Indian stock to touch the rupee one lakh per share mark on Tuesday (13 June 2023).



The stock opened at ₹99,500 on BSE against the previous close of ₹98,939.70 and touched an all-time high of ₹1,00,300 in morning trade.

* The stock has witnessed strong gains in the last one year. It is up 45 per cent in the last one year against a 19 per cent gain in the benchmark Sensex. MRF shares hit their 52-week low of ₹65,900.05 on BSE on June 17, 2022. As of the closing of the previous session, the stock is up 50 per cent from that level.

* The recent boost in the stock price could be attributed to the company's strong March quarter numbers and improved prospects of profitability due to the fall in raw material prices.

* The company's consolidated profit after tax (PAT) for the fourth quarter ended March 2023 was ₹313.53 crore, which is a rise of 86 per cent year-on-year (YoY) from the net profit of ₹168.53 crore achieved in the same quarter of FY22. Its consolidated revenue from operations in the fourth quarter of FY23 was ₹5,841.7 crore, which is a rise of 10.12 per cent YoY from ₹5,304.8 crore in the fourth quarter of FY22.

* Its net expenses stood at ₹5,410.26 crore during Q4FY23 as against ₹5,142.79 crore during Q4FY22. The EPS of MRF reached ₹803.26 during the quarter under review as compared to ₹389.55 recorded during the year-ago quarter.

* The fundamentals of MRF look attractive and analysts recommend one can buy this stock for the long term only if he/she can afford it. The stock's valuation is rich and after the sharp gains, some profit booking cannot be ruled out.

* Analysts pointed out that MRF’s balance sheet is strong and its revenue stream is diversified across the segments, making it less vulnerable to a slowdown in a particular segment. So, one with deep pockets can consider buying the stock for the long term. At present, the stock seems to have some steam left for the short term too. .

Source : Mint

Correct Answer :   Rail Vikas Nigam Limited

The Ministry of Finance elevated Rail Vikas Nigam Limited (RVNL) to the status of a Navratna Central Public Sector Enterprise (CPSE) on Wednesday (26th April 2023).

RVNL, a public-sector railway company, has already been on investors’ radar recently because of a strong rally in the stock led by robust orders.

Let us take a look at what it means to be a Navratna CPSE. The term ‘Navratna’ refers to a select group of top-performing CPSEs that have been granted greater autonomy and financial powers by the Indian government in recognition of their superior performance.

The term ‘Navratna’, meaning nine gems, is used metaphorically to suggest that these companies are like the nine precious gems that shine brightly in the crown of Indian PSEs.

With RVNL added to the list, there are 13 Navratna companies :
The Navratna status was first granted to nine public sector enterprises in 1997 by the Indian government. Since then, a few more enterprises were added to this exclusive group based on their performance and on meeting the eligibility criteria. Currently there are 13 Navratnas, including RVNL.

These are :
* Shipping Corporation of India (SCI)
* Hindustan Aeronautics Limited (HAL)
* Rashtriya Ispat Nigam Limited (RINL)
* Engineers India Limited (EIL)
* NMDC Limited
* Bharat Electronics Limited (BHEL)
* National Buildings Construction Corporation (NBCC)
* Oil India Limited (OIL)
* Mahanagar Telephone Nigam Limited (MTNL)
* Container Corporation of India (CONCOR)
* National Aluminium Company (NALCO)
* NLC India Limited (NLCIL).

Source : Business Insider

Correct Answer :   Toyota

Toyota Kirloskar Motor (TKM) recently introduced a new platform for its Bangalore customers - Wheels on Web. It is an online retail sales platform that offers a seamless virtual experience to the customers by enabling them to book, purchase and get delivery of their preferred Toyota models at the comfort of their home.

* The company said that the "Wheels on Web" is a Business to Customer (B2C) platform that reflects the company’s core commitment to enhance customer experience in its digital space, enabling hassle-free car buying with innovative features and services.

* Along with the ability to book, buy and enjoy the vehicle delivery at the comfort of their home, the platform provides digital viewing of the car exteriors, interiors, colour, and variants.

* Toyota customers can select a host of value-added services – Accessories, Service Packages and Extended Warranty via the platform.

* Toyota’s Wheels on Web also enables customers to trade-off his/her existing car. They can also choose easy and multiple finance options through selected financial institutions. In addition, they can pay the booking amount/full payment or downpayment online.

* Toyota customers will receive auto communication via WhatsApp and e-mail at every stage from booking to delivery. Further, they can also check the status of booking details via individual login or account access.

* Atul Sood, Vice President, Sales and Strategic Marketing, Toyota Kirloskar Motor said "In line with our core philosophy of ‘Customer First’, we are continuously striving to deliver ever-better services to the consumers.

* We believe that our newly launched ‘WOW’ (Wheels on Web), online retail platform, will revolutionize the car buying experience in India"..

Source : Mint

Correct Answer :   $31.8 Billion

India's gold imports, which have a bearing on the current account deficit, fell about 30% to $31.8 billion during April-February 2023 due to high customs duty and global economic uncertainties, according to data from the commerce ministry.

* Imports of the yellow metal stood at $45.2 billion in the corresponding period of 2021-22.

* The imports are in the negative zone since August 2022.

* Silver imports, however, rose by 66% to $5.3 billion during April-February 2023.

* The significant fall in gold imports though has not helped in narrowing the country's trade deficit -- the difference between imports and exports. The merchandise trade deficit for April-February 2022-23 was estimated at $247.52 billion against $172.53 billion in the year-ago period.

* According to industry experts, high import duty on gold and global economic uncertainties are the reason for the dip in the imports of the precious metal.

* "India imported about 600 tonnes of gold during April-January 2023, and it is down because of high import duty. The government should take a view on the duty part to help domestic industry and push exports," former GJEPC chairman and managing director of Kama Jewelry Colin Shah said..

Source : The Hindu

Correct Answer :   Godrej Capital

Godrej Group, through its financial services arm, Godrej Capital and State Bank of India (SBI) 31st March 2023 signed a strategic MOU to deepen their partnership wherein State Bank of India would provide various financial products and offerings.

* For decades, both SBI, its group companies, and the Godrej Group have played an important role in the growth of our country’s economy. With this partnership, they hope to continue their contributions to building the nation.

* Pirojsha Godrej, Chairperson of Godrej Capital, said, “This partnership is a big step forward in making financial solutions more accessible and affordable. Together, we aim to unlock opportunities for financial inclusion and build a long-term, sustainable franchise, helping drive India’s growth story forward.”

* Dinesh Khara, Chairman of SBI, speaking on the announcement, said, “We are happy to embark on this exciting partnership with Godrej Capital.

* Aim :  To capitalize on synergies that will empower our customers and accelerate the growth of our economy. In addition, we will focus on delivering financial solutions to the Godrej group.”

* This association leverages the strengths of both groups by facilitating a gamut of financial services provided by the Bank, including, and not limited to, banking products, credit cards, wealth management, Life Insurance, and General Insurance as preferred partners.

* Manish Shah, MD and CEO of Godrej Capital added, “We are excited about this partnership between two of the most reputed brands in the country. Financial services have always been the leading indicators of growth of the economy, and the two groups coming together is a milestone we want to leverage in building a sustainable organization.”

* Godrej Capital has, so far, disbursed over INR 5000 crores since inception in November 2020 across housing, SME, and MSME loans. It has expanded its presence across 11 cities in India and aims to expand its footprint to 30 cities across India in the next 12 months.

Correct Answer :   Bill Gates

Bill Gates has acquired a minority stake in Heineken Holding NV, the controlling shareholder of the world’s second-largest brewer, for about $902 million.

* The Microsoft founder and philanthropist last week picked up 3.8% of Heineken Holding, according to a filing by the Dutch regulator AFM.

* He bought 6.65 million shares in Heineken Holding, in his individual capacity, and another 4.18 million shares through the Bill & Melinda Gates Foundation Trust.

* The shares are valued at €848.2 million ($902 million), according to Bloomberg calculations at closing share price value of February 17, 2023.

* Gates acquired the stake on the same day that Fomento Economico Mexicano SAB launched a €3.7 billion stock and equity-linked sale for part of its holdings in Heineken.

* Femsa, as the Mexican Coca-Cola bottler and convenience store operator is known, had last week announced plans to offload its stake in Heineken after a strategic review.

* Femsa said its accelerated bookbuild offering of €1.9 billion in shares in Heineken NV priced at €91 apiece, and €1.3 billion in shares in Heineken Holding sold at €75 each. Heineken Holding controls 50% of Heineken NV, maker of the namesake beer as well as Amstel, Moretti, and Sol among others.

* The Bill & Melinda Gates Foundation Trust foundation has also invested in Dutch online grocer Picnic BV and holds a 1.34% stake in Dutch fertilizer producer OCI NV.

* The foundation has long been a powerhouse in the nonprofit world, employing almost 1,800 people and spending nearly $80 billion since 2000.

Source : Business Standard

Correct Answer :   Infosys

Infosys (NSE, BSE, NYSE: INFY), a global leader in next-generation digital services and consulting, 23rd February 2023 announced that it will expand its collaboration with Microsoft, to help accelerate enterprise cloud transformation journeys worldwide.

* According to the Infosys Cloud Radar, enterprises can add up to $414 billion in net new profits, annually, through effective cloud adoption.

* The report also calculated that adopting cloud improved speed to market and the ability to discover new revenue streams and resulted in increased profit growth by up to 11.2 percent YoY.

* The extended strategic collaboration between Infosys and Microsoft will greatly benefit enterprises by bringing them the best of Infosys Cobalt cloud offerings and Microsoft’s cloud computing technologies, led by Azure, across the business value-chain.

* The deepening of the collaboration will entail the onboarding of Infosys Cobalt solutions to Microsoft’s industry clouds, to empower enterprises to build agile cloud-powered platforms and innovate at scale.

* The joint capabilities across application modernization, enterprise solutions, data analytics and AI, digital workplace solutions, low-code, no-code power platforms and cybersecurity innovations will create a robust foundation for cloud-powered transformation.

* These will bring enterprises the benefits that come from best of breed Microsoft platforms, along with Infosys Cobalt suite of cloud-powered solutions, implemented to minimize time-to-market and maximize value.

* For example, Infosys Helix, running on Azure, is delivering for the healthcare industry value from an AI-first, people-centric platform suite to analyze, customize and democratize data for payers, providers, members, and governments.

* Another powerful example is Infosys Equinox – a human-centric digital commerce and marketing platform that enables contextualized omnichannel buying experiences.

* Microsoft is using Infosys’ expertise to deliver the Support experience for its products, and this collaboration will further enhance the dedicated support and focus from the Microsoft CRM Center of Excellence set up by Infosys..

Source : Infosys

Correct Answer :   Tata Motors

Tata Motors, India’s leading automobile manufacturer and the pioneer of India’s EV evolution, on Monday (20th Feb 2023) signed an MoU with Uber, India’s leading ridesharing app, to bring 25,000 XPRES–T EVs into their premium category service.

* The agreement between Uber and Tata Motors is the largest EV commitment yet between an automaker and a ridesharing platform in India.

* Tata Motors will begin deliveries of XPRES-T EVs to Uber fleet partners in a phased manner starting this month. The partnership will aid the electrification of Uber services across Delhi NCR, Mumbai, Kolkata, Chennai, Hyderabad, Bengaluru, and Ahmedabad.

* As Uber continues to move towards its zero-emissions goal, the partnership with Tata Motors will lay the groundwork for the meaningful expansion of four-wheeler electric vehicles (EVs) on a mobility platform in India.

* Uber has committed to 100% of rides taking place in zero-emission vehicles, on public transit, or with micro-mobility by 2040.

* Uber is focused on finding new, innovative, and affordable ways to help drivers and fleets go electric and will lean in on industry partnerships across EV manufacturers, Fleets, and EV infra partners among others to advance EV transition.

* Shailesh Chandra, MD, Tata Motors Passenger Vehicles and Tata Passenger Electric Mobility informed that working towards the aim of growing India’s e-mobility market, they are delighted to announce their partnership with Uber, India’s leading ridesharing app, for their expansion of sustainable mobility options....

Source : Economic Times