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Nice 900k blocks at 6
DBMM .0022 V 454K
India's Adani Group to invest over $100 billion in next decade
FILE PHOTO: The logo of the Adani Group is seen on the facade of one of its buildings on the outskirts of Ahmedabad
Mon, September 26, 2022, 11:52 PM
NEW DELHI (Reuters) -India's Adani Group will invest more than $100 billion over the next decade, most of it in the energy transition business, its Chairman Gautam Adani said on Tuesday, as the ports-to-energy conglomerate accelerates an already aggressive expansion plan.
After founding the group in 1988 as a commodities trading business, the 60-year-old has ventured into multiple sectors, mainly in the infrastructure space and in line with the priorities of the government of Prime Minister Narendra Modi.
Strike gold, or stocks or crypto with custom watchlists
"As a group, we will invest over $100 billion of capital in the next decade," Adani, the world's second-richest person, told the Forbes Global CEO Conference in Singapore.
"We have earmarked 70% of this investment for the energy transition space. We are already the world’s largest solar player, and we intend to do far more."
He did not say how the investments would be financed. Debt research firm CreditSights said earlier this month it was concerned about the group's leverage, though the group said its ratios were healthy and in line with industry benchmarks.
Adani has a personal fortune of $143 billion, according to Forbes, behind only Elon Musk. The combined market capitalisation of the group’s listed companies is $260 billion, growing exponentially in recent years.
The Adani Group has announced deals worth billions of dollars this year alone, the biggest one being its $10.5 billion acquisition of Holcim AG's cement businesses in India - Ambuja Cements Ltd and ACC Ltd.
Gautam Adani said the group wanted to be an inexpensive producer of green hydrogen - which is extracted from water using electrolysis in a process powered by renewable energy.
He said the group was in the process of building a 10 gigawatt (GW) silicon-based photo-voltaic chain, a 10 GW wind-turbine manufacturing facility and a 5 GW hydrogen electrolyser factory.
"It is an absolute game changer for India and opens up the unprecedented possibility that India could one day become a net energy exporter," he said.
India is currently the world's third-largest crude importer and consumer.
Adani said his group was India's largest airport operator with 25% of passenger traffic and 40% of air cargo. It is also the largest ports and logistics company in India with a 30% market share.
(Writing by Krishna N. Das; Editing by Christopher Cushing and Muralikumar Anantharaman)
CANT WAIT TO BUY MORE!!!!!!!!!!!!!!!!
I need to post more, with DBMM moving like it is I should have over 13,400 post by now
I remember reading posts from 2018 that claimed we would get delisted, well they were wrong and pink current on its way
THIS IS THE BEST BOARD ON IHUB!!!
DBMM CE dropping.0019 V 1.7 mil
DBMM MARKET CAP only 700k
https://www.otcmarkets.com/stock/DBMM/security
Soon to read $3.5 BILLION
DBMM .0014 CE V 1.2 mil coming down, huge short and naked short positions need to get covered!
5 MM working watch for additional MM to start working! This will also give you a hint we are close
Looking for .05-.06 the day before CE comes down
FINRA usually takes 6 months for approval! WE ARE ALMOST THERE!!
The board will really start heating up next week
Apple says it will manufacture iPhone 14 in India
Sun, September 25, 2022, 9:55 PM
NEW DELHI (Reuters) -Apple Inc said on Monday it will manufacture its latest iPhone 14 in India, as the tech giant moves some of its production away from China.
The company launched the flagship iPhone 14 at an event earlier this month, where it focused on safety upgrades rather than flashy new technical specifications, with the exception of a new adventure-focused watch.
"The new iPhone 14 lineup introduces groundbreaking new technologies and important safety capabilities. We're excited to be manufacturing iPhone 14 in India," Apple said in a statement.
Analysts at J.P.Morgan expect Apple to move about 5% of iPhone 14 production from late 2022 to India, which is the world's second-biggest smartphone market after China.
Apple could make one out of four iPhones in India by 2025, JPM analysts said in a note last week.
(Reporting by Sneha Bhowmik in Bengaluru; Writing by Tanvi Mehta; Editing by Muralikumar Anantharaman)
Buy volume 109k, no worries here at all
211 COMING!!
10k bought 4k sold
The .25 was only 200 shares
And more
Picked up more
211 feels so close now!
Development Update
Sep 22
https://medium.com/codetech/development-update-7bc731aa1864
Read about the recent Ping Exchange and CorePass advancements, a few surprises, and more!
Hello, Core Nation, we are entering the final weeks of preparation prior to seeing the light of the first CoDeTech ecosystem products going live. The long-awaited CorePass and Ping Exchange are about to change the world and will look at the value of digital identity and being able to trade and manage digital assets in the safest exchange to date.
We are, therefore, excited to update you on the current status of development.
It should be noted that the upcoming time period does not only revolve around the release of CorePass and Ping Exchange but also around some indication of when the Core Token and the Core Coin shall be listed on the market for the very first time.
So, let’s take a look at where we stand at the moment and what important news you shouldn’t miss. We will start with Ping Exchange.
Ping Exchange
As you probably know, in the last update, we wrote that Ping Exchange and its release are divided into 2 phases, specifically:
?Phase One — Closed inter-company testing simulation with all our team members, to ensure that there are no issues that will also set the market pairs. COMPLETED
??Phase Two — Official release to the public. COMING UP
During the last few months, we have been carrying out very extensive testing. We are happy to say that phase one has been successfully completed and we are now approaching phase two of our testing.
Roadmap:
The New Ping Exchange website will be released before the end of September 2022, with a few limited features, but not representing a tradable platform yet.
Ping Exchange will go live immediately after the CorePass login application has successfully been tested and released to the public.
Ping Exchange will provide a wide spectrum of tradable pairs and the possibility to list new assets and commodities in Ping’s Launchpad.
The platform will initially offer trading in the following pairs:
Stage 1
Crypto
Core Coin
XCB/ BTC, XCB/LTC, XCB/ETH, XCB/CTN, XCB/EUR, XCB/USD, XCB/GBP, XCB/ZAR, XCB/JPY, XCB/CHF
Core Token
CTN/BTC, CTN/LTC, CTN/ETH, CTN/EUR, CTN/USD, CTN/GBP, CTN/ZAR, CTN/JPY, CTN/CHF, BTC/LTC
Bitcoin
BTC/ETH, BTC/LTC, BTC/EUR, BTC/USD, BTC/GBP, BTC/ZAR, BTC/JPY, BTC/CHF
Litecoin
LTC/ETH, LTC/EUR, LTC/USD, LTC/GBP, LTC/ZAR, LTC/JPY, LTC/CHF
Ethereum
ETH/EUR, ETH/USD, ETH/GBP, ETH/ZAR, ETH/JPY, ETH/CHF
Stage 2
Forex
Euro
EUR/USD, EUR/GBP, EUR/JPY, EUR/CAD, EUR/NZD, EUR/NOK, EUR/SEK, EUR/PLN, EUR/HUF, EUR/CHF, EUR/CNH, EUR/CZK, EUR/MXN, EUR/RON, EUR/ RUB, EUR/TRY, EUR/ZAR, EUR/AUD, EUR/SGD, EUR/CLP, EUR/KRW, EUR/CZK, EUR/DKK, EUR/JPY
United States dollar
USD/GBP, USD/JPY, USD/CAD, USD/NZD, USD/NOK, USD/SEK, USD/PLN, USD/HUF, USD/CHF, USD/CNH, USD/CZK, USD/MXN, USD/RON, USD/RUB, USD/TRY, USD/ ZAR, USD/AUD, USD/SGD, USD/CLP, USD/KRW, USD/CZK, USD/DKK
South African rand
ZAR/USD, ZAR/GBP, ZAR/JPY, ZAR /CAD, ZAR/NZD, ZAR/NOK, ZAR/SEK, ZAR/PLN, ZAR/HUF, ZAR/CHF, ZAR/CNH, ZAR/CZK, ZAR/MXN, ZAR/RON, ZAR/RUB, ZAR/TRY, ZAR/AUD, ZAR/SGD, ZAR/CLP, ZAR/KRW, ZAR/CZK, ZAR/DKK
British pound
GBP/USD, GBP/JPY, GBP/CAD, GBP/NZD, GBP/NOK, GBP/SEK, GBP/PLN, GBP/HUF, GBP/CHF, GBP/CNH, GBP/CZK, GBP/MXN, GBP/RON, GBP/RUB, GBP/ TRY, GBP/ZAR, GBP/AUD, GBP/SGD, GBP/CLP, GBP/KRW, GBP/CZK, GBP/DKK
Japanese yen
JPY/USD, JPY/GBP, JPY/CAD, JPY/NZD, JPY/NOK, JPY/SEK, JPY/PLN, JPY/HUF, JPY/CHF, JPY/CNH, JPY/CZK, JPY/MXN, JPY/RON, JPY/RUB, JPY/TRY, JPY/ZAR, JPY/AUD, JPY/SGD, JPY/CLP, JPY/KRW, JPY/CZK, JPY/DKK
Metals
Gold
XAU/XCB, XAU/CTN, XAU/EUR, XAU/USD, XAU/GBP, XAU/ZAR, XAU/CHF
Stage 3
At this stage, we are planning to fully embrace the potential of the platform and bring about all kinds of trading, including stocks, bonds, ETFs, and commodities.
Ping Exchange
CorePass
We left the most important piece of news for last, as we believe your identity is your most valuable possession and you should be able to own all of its rights and be able to protect it. CorePass is doing just that and it is, therefore, a very unique application. CorePass is truly one of its kind. We had to improvise and develop it all from scratch as there were no guidelines in building a digital identity in a truly decentralized network, something that has never been done before. Many of the procedures and functions that we had to develop were mostly based on trial and error rather than R&D as there is no documentation or guidelines available. This trial and error process was of course the primary reason for the long process of the development of Core Pass.
With that said, it is also important to remember that this application is not only a new form of login, a digital identity, and a wallet but also a full user rights management platform. The scope of this application greatly exceeds any standard application and our focus on user-friendliness has made it even more difficult to develop. If you thought you were smiling when we released the Core Blockchain, this puts the CoDeTech Ecosystem in a whole new league that greatly outruns any form of digital identity.
Herewith is a real breakdown of things that have been developed:
?We added a new service called Wallet Service, which secures our KYC Platform more than before. The KYC Platform does not hold any Private Keys and only provides authorization through the Wallet Service. To put it simply, it is an offline signature.
?A library called CoreBC has been developed to be used for Websites, NodeJS applications, and Core Blockchain Smart Contract developers. This library will be publicly available and will be open source. It will be the equivalent of Ethers.js for Core Blockchain.
?A library called Ylem Scripts has also been developed. This is to further develop, test and deploy Smart Core Blockchain Contracts.
?Core Token Smart Contract has been fully deployed on Core Blockchain and has been audited for any security issues and any security flaws that were found have been fixed.
?The structure of the KYC contract and KYC data transfer contract has changed to add the following features:
The KYC contract is now upgradable, meaning that it will have the possibility of adding new KYC fields (for example, in the near future, digital attributes surrounding you and your claims of ownership, and relationships to individuals and/or companies can be easily added).
The data transfer can be handled by multiple simultaneous data transfers. (Because of a Nonce problem with CoreToken, in the previous version of KYC data transfer smart contract, data transfers could only be handled one at a time.) Now, we can have as many simultaneous data transfers as we want.
The KYC Vault smart contract has been added, which serves as a storage for all the user’s KYC data and guarantees that doing KYC once will hold the KYC data for eternity.
?The CorePass application is seamlessly integrated with Core Blockchain allowing CorePass to hold and manage CTN, XCB, and KYC NFTs of Core Blockchain.
?The P2P communication of CorePass is now using the Ed448 for authentication and has migrated from Secp256k1. Each connection between two peers is now end-to-end encrypted using Ed448. Enhancing the security immensely.
?The CorePass CNS (Core Name Service) Smart contract for companies has been added, and CorePass is now supporting Premium CNS for enterprises.
?Registry Smart contract has been added so that community-driven applications can use CorePass Smart contracts easier.
?Many UX improvements have been added for CorePass to ensure ease of use and this could only be done through trial and error.
??We are currently implementing the CorePay platform, where we will be able to open up the possibilities for people to buy CTN, XCB, and KYC NFTs with Crypto. It is worth mentioning that this function might not be available with the first release but we are trying our hardest to make it possible.
One of the major reasons for the delay is due to a serious issue we encountered with the P2P network, where some of the service providers changed their policies. Moreover, global network outages made the application fail while using some of its services. These events have occurred a few times, especially in the last few days just prior to the release during our internal testing period.
To find these issues you always begin by looking into the application. Due to us not tracking activity, finding such issues is extremely hard. In simple terms, it is like throwing a needle into a haystack and then spreading the haystack all over. Then you have to go and try to find that needle.
Once we realized that the problem was not in the CorePass application itself but rather in the communications infrastructure, we decided to take drastic measures and expand the P2P network using CorePass Powered P2P nodes. This does cost us some time as we need to create the nodes, deploy them and then test them. After all, we cannot release an application and then run into issues causing the users not to be able to use it, let alone help us test the application. As soon as we are done configuring those Nodes, we are ready for Public access to CorePass on the Core Blockchain TestNet. We would like to emphasize that this testing strategy that we will implement is to protect the user along with their data which has no room for error as we are working with real data even in this test environment.
We will say this again, with CorePass being one of the first applications we are releasing, our reputation is at stake and we want to make sure that our community is proud of what we have built together and are striving to achieve. CorePass is by no means an application to be taken lightly as it is the entrance into a digital world that will help make the online environment a safer and better place!
Roadmap:
We are restarting the internal closed testing next week to ensure that everything is functioning and behaving correctly, which can last up to 2 weeks. Should any bugs or issues be found that can break the application, we would first need to fix them. If not, we will prepare the open public testing on the 14th of October 2022.
However, we want to be clear that this is only a proposed date and is not set in stone as there is a chance that we might find a bug. Depending on the severity of the bug, the date might be changed as we would first need to fix the bug if it is critical. We would then need to test the application again and the redeployment of the application and network could take some time, which we cannot define. Should it be possible to do it sooner, we will, of course, do it immediately.
We will release a video where we will explain everything in depth about CorePass and what types of tests we are looking for. We will also explain the possibilities of receiving bounties when a bug is found and how the overall testing should work with the different types of transactions.
Once the Open Public Testing has taken place, where we are planning to do about 10,000 verifications and about 30,000–50,000 transactions with no issues, once we have achieved this goal, we will be able to release the application into the market. We cannot, at this stage, specify the date as it depends on whether a critical bug is found.
The severity of the issue will influence the time to fix it, which will define the actual release. The CorePass application security will be examined thoroughly by CorePass’s developers and the security team so we can be 100% sure our user’s assets and identities are safe and secure. However, we want to be 200% sure and we want to give our early adopters (early users to walk into the future of identity) a memorable testing environment that would make everyone proud.
We are releasing an application that deals with highly sensitive data, digital assets, and the responsibility we do not take lightly. We are working as hard and fast as we can and we are silent because of that. However, we are in a position now to give more regular development updates and results of testing which we will try and get out to you regularly.
CorePass
Core Starburst NFT and Core Blockchain Network Deployment
Finally, we have one very exciting piece of news for you regarding the first ever NFT created on the Core Blockchain that goes by the name Vega.
Inspired by the second brightest star in the sky after the Sun, Vega boasts attributes that make it more advanced than your regular NFTs. We can call it a Multipurpose Flexible Token (MFT) as it represents a hybrid combining the strongest aspects of Core Blockchain.
We plan to release more information about this NFT on the weekend, both the article dedicated to Vega NFT and its subsequent sale are still coming this month.
We are currently also deploying the Core Blockchain Network in non-financial solutions in Accounting Compliance and Accountability for Schools in South Africa. Another solution using the Core Blockchain Network and Smart Contracts is currently implemented in two different agricultural applications, one in genetics and the other one in a farm-to-fork solution.
We are also in the beginning of writing a user requirement specification for:
a manufacturer in the automotive industry starting with client profile and product maintenance, and
deployment in two logistics management platforms high value commodity and metals transport.
In Conclusion
It truly is exhilarating to watch the interest in the Core Blockchain and the deployment of Core’s Ecosystem grow every day! We are excited to share with you all that we are receiving new requests for blockchain-based applications on a weekly basis, which will soon turn into reality in the upcoming weeks in one form or the other.
We are positive that you are as excited as we are for all the things to come. It’s been a long road filled with many challenges and sometimes even disappointments. Thanks to our amazing team, though, we are now truly just around the corner of the long awaited CorePass and Ping Exchange! If you missed the Coin Club Japan video by Yusuke where you can actually see the software working and Yusuke familiarizing himself with the platforms, please, feel free to check it out ? https://youtu.be/vDw2G6hL1iA
We cordially invite you to jump on the wave of excitement with us and get your hype train tickets ready. Let’s join hands in stepping over the finish line together!
Kind regards,
Core Decentralized Technologies Team
Citigroup Sets India as High Priority Market Amid China Risks
Cathy Chan and Baiju Kalesh
Thu, September 22, 2022, 5:00 PM
(Bloomberg) -- Citigroup Inc. is targeting India as one of its top markets to expand in globally as risks mount in China and other regions, the bank’s global co-head of investment banking said.
India presents “very clear” opportunities, said Manolo Falco, the global co-head of Banking, Capital markets and Advisory, in an interview in Mumbai. The New York-based lender expects initial public offerings in India to pick up next year as well as inbound deals in renewable energy and infrastructure, he said.
The world’s second-most populous country is gaining traction among Wall Street dealmakers in part as growing political tension casts a pall over major plans to expand in China and as tensions mount in Europe and the US. India’s main stock gauge has gained this year, in contrast to mostly steep declines seen in major global markets. The nation saw a record $82 billion in merger and acquisition deals in the second quarter, defying a slump elsewhere.
“India looks very steady and it has a government that seems to know exactly what they have to do,” Falco said. “The political situation in other parts of the world, and that includes Europe and probably the US and China, is a bit different I would say.”
After two years of expansion in China, global banks are now facing stronger headwinds as economic growth slows and political tension with the US has dented dealmaking. Banks including Goldman Sachs Group Inc., HSBC Holdings Plc, Credit Suisse Group AG and UBS Group AG have all cut investment banking jobs linked to China amid a drought in deals.
Citigroup is still in the process of setting up a fully-owned investment bank in China, lagging behind its main rivals.
Falco said the firm will “definitely get better” in China when licenses are approved.
“Today we don’t have it so we can’t play in the A share market,” he said, referring to stocks traded in Shanghai and Shenzhen. That will be an important growth market for the business in China since the outlook for new share sales in Hong Kong and US by Chinese companies remains subdued, he said.
Picked up more
Took those .75’s out
Very simple here, buy and hold
Exactly!
Very nice confirmation that the merge is moving forward
We felt it’s silly to jeopardize the deal over paperwork delays. Enjoy your weekend!
Beyond Commerce Inc (BYOC)
@IncByoc
Happy Friday Everyone!
Per the 8-K - we apologize for the delay! It has taken longer than expected to compile the required deliverables to close the transaction. We felt it’s silly to jeopardize the deal over paperwork delays. Enjoy your weekend! #byoc #ev #electricbuilt
5:11 PM · Sep 16, 2022
·Twitter for iPhone
Yes they were
Buying all the 8’s I can, picked up 2 milly more
We will start eating through those 9’s
Just took those 8’s out
Can you repost with an appropriate title please
Love to hold the 8 bid at the close
Picked up 3 million more
The world’s biggest bet on India
Thu, September 15, 2022, 4:51 AM
If you want to glimpse the frontier of Indian capitalism, take a trip to Tamil Nadu in the south of the country. New factories with solar panels on their roofs lie on a vast 550-acre (220-hectare) site. Inside, it is reported, Tata is making components for the latest iPhones on behalf of Apple—and in the process finally connecting India to the world’s most sophisticated supply chain, which used to be anchored to China.
The project is not a one-off. It is part of a new and staggering $90bn investment surge by India’s biggest business that is repositioning itself towards its home market and away from its 30-year strategy of fanning out globally. Tata’s ambition to create electronics factories and semiconductor fabs in India could transform its economy. “I firmly believe that this is going to be India’s decade,” says Natarajan Chandrasekaran, who runs the holding company, Tata Sons, which oversees the group.
The change in strategy also reflects the dramatic psychological shift within the business world’s most ardent globalisers, as they adapt to new megatrends. These include the rebasing of strategic manufacturing away from China; the rise of a new energy system; and industrial policy, which in India is being championed by Prime Minister Narendra Modi.
Anyone who follows India, the world’s fastest-growing big economy, may be under the impression that it is run by Mukesh Ambani and Gautam Adani, two swaggering tycoons, whose conglomerates generate headlines and make them Asia’s richest men. Together the “two As” may spend over $100bn in the next five years. Yet Tata is in fact the country’s biggest business measured by market value ($269bn) and operating profits ($16bn last year), spanning everything from steel mills to software. And we estimate that its new plans are larger than any other individual firm’s, encompassing electric vehicles (evs), electronics, battery gigafactories, clean power and chips (see chart 1). If that doesn’t sound ambitious enough, it has also taken on the Everest of corporate turnarounds, buying Air India.
The firm’s scale, reputation and record make it one of the world’s most important companies. With 800m-900m customers across ten business lines, it employs almost 1m people, more than any listed firm anywhere bar Amazon and Walmart. It is also the ultimate survivor. Of the world’s firms worth over $200bn that have remained independent, it is the oldest, founded in 1868, 18 years before Johnson & Johnson was incorporated. When blue-chip multinationals head to India—not just Apple (reportedly), but everyone from Starbucks to Zara—they seek to team up with Tata, the one firm you can really trust. In a twist, Tata is run by technocrats who report to what may be the world’s least-known and richest charity, not tycoons eyeing the Forbes rich list.
To understand where Tata and India are heading in the 2020s and 2030s you have to go back in time. The company has stayed alive by adapting to technological and political change. It made steel for colonial railways, and after independence it coped with India’s socialist detour. When the economy opened up in the early 1990s it helped reinvent white-collar work by selling information-technology outsourcing (it) services. Ratan Tata, the boss between 1991 and 2012, spent the first decade dragging the group into the modern era and the second taking it global through $18bn of cross-border takeovers, including of Jaguar Land Rover, a British carmaker, and Corus, an Anglo-Dutch steelmaker.
Tata’s belief in the boundless opportunities of borderless commerce was shared by many others at the time. Annual investment by Indian firms abroad soared almost 40-fold between 2000 and the peak in 2008; for all emerging markets it rose by four times. China urged its bosses to “go out there”. Even Cemex, Mexico’s cement giant, became an unlikely deal machine.
In, out, shake it all about
Behind the boom lay insecurity as well as optimism. Tata worried India was too corrupt to offer a level playing field. More broadly it and fellow emerging-market firms believed that to tap advanced technologies you had to be in the West. Tellingly, at home in India the fashion then was for “Jugaad Innovation”: basic, frugal engineering that was supposedly a source of advantage. Tata launched the Nano, an ultra-basic car for India that cost $2,000.
This era of reflexive corporate globalism has come to an end. Geographical sprawl weakened the finances of most multinational acquirers. In Tata’s case, we reckon that about two-thirds of its sales were abroad by 2012. Meanwhile, 70% of its capital employed earned a return of less than 10%, our yardstick for underperformance. Net debt had risen to twice gross operating profit. The strain helped trigger a governance crisis as Mr Tata fell out with his successor, Cyrus Mistry, whose family own 18% of Tata’s holding company (Mr Mistry died in a car crash near Mumbai on September 4th). In early 2017 Tata replaced him with Mr Chandrasekaran, the meritocrat’s choice, who had run the thriving it business that had kept the group afloat.
The rise of Mr Chandrasekaran to the pinnacle of Asian business illustrates another sharp change: emerging markets’ technological self-confidence. In the past decade India has created perhaps the world’s most advanced payments systems and a venture-capital scene that has helped fund (at least before the recent worldwide tech slump) more than 100 private tech “unicorns” valued at $1bn or more. The it-services firms, including Tata’s, have more than doubled in size and are far more technically sophisticated. And though Tata might not like to admit it, Mr Ambani’s landmark $46bn ten-year investment in Jio, a domestic 5g telecoms business, has shown that you can profitably deploy vast sums of capital in cutting-edge tech in a developing economy.
More self-confidence in tech has coincided with the last shift, the changing relationship between the role of businesses and the state, championed by Mr Modi’s government. A move in supply chains away from China, new technologies and the energy transition all create opportunities. But who will exploit them?
The usual suspects are not up to snuff. India’s state-run firms are hopeless. Foreign multinationals have ushered in neither industrialisation nor technological breakthroughs. Capital markets have failed to create young firms with enough equity to take big risky bets. India’s last investment cycle, an infrastructure boom in 2003-11, was debt-fuelled and ended in tears. The government and some bosses now favour giant firms. Those include conglomerates as well as specialist companies like jsw Steel and hdfc, a bank which is concluding a $140bn mega-merger.
Some firms, such as Adani Group and Mr Ambani’s Reliance, embrace this role and the proximity to the state it brings. Others are making a more calculated bet that the demands of national development and responsible, profitable business really are compatible. Tata is in the second camp.
As boss, Mr Chandrasekaran is quick and ultra-rational, with a dash of humour, compared with the aristocratic and enigmatic Mr Tata. Emails are dispatched fast. Satraps running subsidiaries are told to deliver performance first and get capital later. Tata’s worst bits are being quietly killed off: Tata Sons has written off $10bn since 2017 as it has exited weak areas like telecoms, and recapitalised fragile divisions.
Picked up 4mil more
8’s leaving quick
Huge volume spike!! Love to see 9.00’s today