Business and Economics - General Knowledge Questions

A)
Reliance Power
B)
JSW Energy
C)
Tata Power
D)
Power Grid Corporation of India

Correct Answer :   Tata Power

Tata Power on Monday(4th July 2022) announced that it has inked a pact with the Tamil Nadu government to invest Rs 3,000 crore for setting up a new facility to manufacture solar cells and modules in Tirunelveli district of the state.
 
"Tata Power, one of India's largest integrated power companies, has signed a Memorandum of Understanding (MoU) with the Tamil Nadu government to invest approximately Rs 3,000 crore for setting up a greenfield 4GW solar cell and 4GW solar module manufacturing plant in Tirunelveli district of Tamil Nadu," a company statement said.
 
The investment in the plant will be made over a period of 16 months and will directly or indirectly create over 2,000 employment opportunities with majority of them for women, it informed.
 
The MoU was signed by S Krishnan, additional chief secretary to government of Tamil Nadu, Industries Department, and Praveer Sinha, CEO & MD, Tata Power, in the presence of state chief minister M K Stalin and senior officials of the state..

Source : Business Standard

A)
Competition Commission of India (CCI)
B)
Telecom Regulatory Authority of India (TRAI)
C)
National Human Rights Commission of India (NHRCI)
D)
Securities and Exchange Board of India (SEBI)

Correct Answer :   Competition Commission of India

The Competition Commission of India (CCI) approved the proposed combination on the basis of modifications offered by the Acquirer.
 
Google International LLC (Acquirer) is a wholly owned subsidiary of Google LLC, (collectively with all Google LLC subsidiaries, “Google”). Google LLC is a Delaware limited liability company and wholly owned subsidiary of Alphabet Inc. The Acquirer is a holding company and does not own / operate any of Google’s products/ services. Google, however, offers various products and services, including its flagship search service, its Android operating system, and its Play app store.
 
Bharti Airtel Limited (BAL/ Target), headquartered in India, is an international communications solutions provider with over 480 million customers in 17 countries across South Asia and Africa. BAL’s retail portfolio includes, amongst others, high speed mobile broadband, Airtel Xstream Fiber, streaming services (music and video), digital payments and financial services. For enterprise customers, BAL offers solutions including secure connectivity, cloud and data centre services, cyber security, IoT, advertising services, and cloud-based communication.
 
The Acquirer and Target have executed an Investment Agreement (IA) per which the Acquirer proposes to acquire a minority and non-controlling stake of 1.28% of equity share capital in the Target. Along with the IA, the Acquirer and the Target through their affiliates have also entered into certain commercial deals. The Parties also intend to enter into certain other commercial arrangements in future..

Source : PIB

A)
Kioxia
B)
Infineon
C)
Murata Manufacturing
D)
Renesas Electronics Corp

Correct Answer :   Renesas Electronics Corp

Japanese chipmaker "Renesas Electronics Corp" and India's Tata Motors have formed a strategic partnership to design, develop and manufacture semiconductor solutions for domestic and global markets, the companies said on Wednesday(29th June 2022).
 
Renesas will collaborate with Tata Motors, India's biggest manufacturer of electric cars, on developing "next-generation automotive electronics" to accelerate the growth of electric and connected vehicles, the companies said in a statement.
 
As part of the partnership, Renesas will also work with Tejas Networks, a Tata Group company, on wireless network solutions including 5G. The products will initially be for India with an aim to expand to global markets..

Source : Business Standard

A)
Telangana
B)
Gujarat
C)
Karnataka
D)
Maharashtra

Correct Answer :   Maharashtra

The Maharashtra government's Energy department on Tuesday(28th June 2022) signed a Memorandum of Understanding with Adani Green Energy Group Ltd (AGEL) to generate 11000 MW green power in the next five years.
 
It would entail an investment of Rs 60,000 crore and provide employment to 30,000 persons, a statement from the government said.
 
The state will reap many benefits from PSPs which will generate or store electricity with the help of non-conventional energy sources, it said, adding that they will be especially useful for immediate power generation in case of shortage.
 
The MoU was signed by Narayan Karad, Deputy Secretary, Department of Energy, Maharashtra and Ajit Barodia, Senior Vice President, Adani Industries Group.
 
Under secretary Nanasaheb Dhone and Associate Vice-President of AGEL Akshay Mathur were also present on the occasion.
 
The MoU was signed with AGEL in the presence of Energy Minister Dr Nitin Raut and Principal Secretary for Energy, Dinesh Waghmare..

Source : Business Standard

A)
paypal
B)
Acemoney
C)
Stripe
D)
Payoneer

Correct Answer :   Acemoney

* Acemoney has launched UPI 123Pay payment and wearable ATM cards.

* UPI 123Pay : Allow people to carry out cashless transactions without smartphones or internet connections by using feature phones only.

* Wearable ATM cards : It is designed as key chains and rings that allows people to carry out cashless transactions without ATM cards and phones.

* Acemoney is India's first company to launch UPI 123Pay services in Malayalam and Tamil.

* RBI had launched UPI 123Pay in March 2022..

Source : The Hindu Businessline

A)
Adani Group
B)
Azure Power Global Limited
C)
Tata Power Solar Systems
D)
Websol Energy Systems Ltd.

Correct Answer :   Tata Power Solar Systems

Tata Power Solar Systems, a wholly-owned subsidiary of Tata Power, has accomplished a remarkable feat by commissioning India's largest floating solar power project in Kayamkulam, Kerala on a 350-acre water body, backwaters area, having an installed capacity of 101.6 Megawatt Peak.

This installation was completed within the stipulated period, despite the arduous challenges of variable water depths, high sea tides, and severe water salinity concerns faced throughout the project's construction duration.
 
Tata Power Solar successfully built a scaffolding platform on the water body to make the entire solar plant float on water. This project is the first one in the Floating Solar Photovoltaic (FSPV) through Power Purchase Agreement category. This plant boasts a floating inverter platform having a 5 Megawatt (MW) capacity.
 
The large-scale installation and commissioning of this 101.6 MWp capacity solar plant have been the fastest in the FSPV category, with ready a Commercial Operation Date (CoD) certification, which means the project has been nodded as complete and operational. The entire project is anchored to the waterbed of Kerala backwater using 134 cast pile foundations that are bored to a depth of 20 meters underwater to support the Central Monitoring and Control Stations (CMCS) and the 33/220 kilovolts switchyard. All this was done by dredging soil strata underwater, wherein the high groundwater was also a deterrent..

Source : Business Standard

A)
Zomato
B)
Talabat
C)
Swiggy
D)
McDonald's

Correct Answer :   Zomato

Online food delivery platform Zomato on Friday announced the acquisition of Blinkit, which was earlier known as Grofers, in an all-stock deal of Rs 4,447 crore.
 
Zomato said it would acquire up to 33,018 equity shares of Blink Commerce Pvt Ltd from its shareholders for a total purchase consideration of Rs 4,447.48 crore at a price of Rs 13.45 lakh per equity share. The decision was taken at a board meeting today. “This acquisition is in line with our strategy of investing in the quick commerce business,”
 
Zomato said, adding that the transaction would be carried out through issuance and allotment of up to 62.85 crore fully paid-up equity shares of Zomato, having face value of Re 1 each at a price of Rs 70.76 per equity share. Zomato already holds one equity share and 3,248 preference shares, presently in the online quick commerce startup.
 
Zomato said it would also buy the warehousing and ancillary services business from Blinkit's parent company Grofers International for Rs 60.7 crore..

Source : India Times

A)
Manu Exports
B)
Rajesh Exports
C)
Sundhar Exports
D)
Maharshi Exports

Correct Answer :   Rajesh Exports

Rajesh Exports, a gold retailer based in Bangalore, has announced plans to invest $3 billion to build India’s first display manufacturing plant. This is a major revolutionary investment as Display manufacturing Industry has traditionally been absent from India’s diverse electronics manufacturing industry. As the world steadily recovers from the chip shortage, countries all around the world are enacting measures to stimulate domestic semiconductor manufacturing investment.

Telangana IT Minister K T Rama Rao along with Chairman of Rajesh Exports Rajesh Mehta announced setting up of Generation 6 AMOLED Display FAB, an official release said here on Sunday(12th June 2022).
 
* Telangana’s government has declared that a business called Rajesh Exports will build India’s first display manufacturing plant in the state. They have put around $3 billion on this.

* The facility will be set up by Elest, a business that makes screens for cellphones and electric vehicles.

* Many programmes, such as the PLI plan, have been created by the Indian government to encourage enterprises to produce domestically in India.

* Telangana has positioned India as a global leader in advanced high-tech manufacturing.

* The things that was previously only possible in Japan, Korea, and Taiwan will now be possible in Telangana, to build a large-scale ecosystem of partners and ancillaries capable of supplying world-class television, smartphone, and tablet manufacturers.
 
Telangana IT Minister K T Rama Rao tweeted : "Historic day for Telangana. Rajesh Exports (Elest), a Fortune-500 company, to setup India's first Display FAB to manufacture the most advanced AMOLED displays, with an investment of Rs 24,000 crore, making it one of the largest investments in high-tech manufacturing sector in India."..

Source : Business Standard

A)
₹3,000 crore
B)
₹3,400 crore
C)
₹4,350 crore
D)
₹5,000 crore

Correct Answer :   ₹5,000 crore

The largest electronic manufacturing services (EMS) provider in India, Bharat FIH has received market regulator Sebi's approval for an initial public offering (IPO) aggregating to ₹5,000 crore.
 
Bharat FIH is a subsidiary of FIH Mobile a leading manufacturing services provider for the mobile handset industry, which is a part of Foxconn Technology Group. The company makes devices for Xiaomi and Nokia.
 
Bharat FIH had filed its draft prospectus in December last year, to raise ₹5,003.8 crore from the IPO. The IPO size comprises a fresh issue worth ₹2,501.9 crore and an offer for sale up to ₹2,501.9 crore by Wonderful Stars.
 
As per Sebi's latest update, the regulator issued an observation letter on June 10, to Bharat FIH.
 
Under the IPO, 75% of the offer is reserved for qualified institutional buyers, while 15% of the size is allotted for non-institutional investors and the remaining 10% for retail individual investors.
 
Kotak Mahindra Capital, Citigroup Global Markets, BNP Paribas, and HSBC Securities and Capital Markets are acting as the book-running lead managers..

Source : Mint

A)
₹2,060
B)
₹3,000
C)
₹4,720
D)
₹5,450

Correct Answer :   ₹2,060

Chinese technology conglomerate "Tencent" has bought stake worth USD 264 million (about ₹2,060 crore) in Flipkart from its co-founder Binny Bansal through its European subsidiary, according to official documents.
 
Singapore-headquartered e-commerce firm Flipkart has operations in India only.
 
Bansal holds around 1.84 per cent stake in Flipkart after selling part of his stake to Tencent Cloud Europe BV.
 
The transaction was completed on October 26, 2021 and was shared with the government authorities at the beginning of the current financial year.
 
Post the transaction, Tencent arm holds 0.72 per stake in Flipkart which is valued at around USD 264 million, as per last valuation of USD 37.6 billion disclosed by the e-commerce firm in July 2021.
 
The company's valuation surged to USD 37.6 billion after raising USD 3.6 billion (about ₹26,805.6 crore) in funding round led by Singapore's sovereign wealth fund GIC, CPP Investments, SoftBank Vision Fund 2 and Walmart..

Source : Mint