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Current Affairs on Companies

Current affairs on 25 May 2017

Apple tops $800 bn market cap for first time

  1. After crossing $700 billion thresholds twice, Apple Inc became the first US company to top the $800 billion mark in market capitalization slightly more than two years. 
  2. The iPhone maker's shares have gained 33 percent this year and almost 50 per cent since November 2016.
  3. Company now represents about 4 percent of the $21.7 trillion that makes up the entire S&P 500 index.

Current affairs on 23 May 2017

General Motors announced that it will not sell its products in India

  1. General Motors (GM) has decided to exit India, which has been in the Indian automobile market through it Chevrolet brand.
  2. The company will not further sell its products in India. This means that no new Chevrolet cars will make their way to India anymore.
  3. The company sold just 25823 units in the last fiscal and its market share has dropped below 1% in India and this after the company announced in 2015 that it targets to garner 3% of the market share in India by 2020.
  4. Spark, Beat, Cruze are some of the prominent products of the company in India.
  5. GM will be using its Talegaon plant and now ceased operations recently, will be sold to its Chinese joint venture partner SAIC Motor Corp.
Posted on: 23rd May 2017 Read complete Article →

Current affairs on 09 May 2017

Punj Lloyd Raksha Systems became India’s first private sector small arms manufacturing entity

  1. Punj Lloyd Raksha Systems is the defence manufacturing unit of iron-steel major Punj Lloyd and a joint venture between Punj Lloyd and Israel Weapon Systems. It has became India’s first private sector that will manufacture small arms in Madhya Pradesh’s Malanpur on 4 May 2017.
  2. It will produce four products – X95 carbine and assault rifle, Galil sniper rifle, Tavor assault rifle and Negev Light Machine Gun (LMG).
  3. The plant will supply world class weapons to the armed forces in sync with the country’s defence indigenisation programme and will give thrust to Make in India programme. 
Posted on: 09th May 2017 Read complete Article →

Current affairs on 01 May 2017

Kotak Mahindra Bank will buy Old Mutual in Kotak Life

  1. Old Mutual is a leading international investment, savings, insurance, and banking group with its headquarters in London.
  2. Kotak Mahindra Bank will buy out 26% stake of Old Mutual in Kotak Life with which it will be fully owned by Kotak Mahindra Group
  3. Kotak Mahindra Bank will buy out Old Mutual’s 26% stake in the life insurance joint venture for Rs 1,293 crore and is selling its stake at a time when the government has allowed foreign shareholding in Indian insurance companies to be increased to 49%.
  4. Based on the transaction with Old Mutual, Kotak Life’s enterprise valuation works out to Rs. 4,972 crore.
Posted on: 01st May 2017 Read complete Article →

Current affairs on 28 April 2017

Golden Peacock Business Award 2017 announced

  1. The Golden Peacock Awards were established in 1991 and GMR Hyderabad International Airport Ltd has won the Golden Peacock Business Excellence Award 2017.
  2. Golden Peacock Business Excellence Award seeks to characterize validated best management practices, as a basis for accelerating the rate of organizational improvement.
  3. YES BANK has won the prestigious ‘Golden Peacock Innovative Product/Service Award 2017’ for its innovative mobile technology product, SIMsePAY.
Posted on: 28th April 2017 Read complete Article →

Tata Safari Storme replace Gypsy in Indian Army

  1. Tata Safari Storme will replace Maruti Suzuki Gypsy in the Defence forces that was approved by the Ministry of Defence.
  2. Tata Motors has signed a contract with the Indian Army for supplying 3,192 Safari Storme cars under a new category, GS800 or General Service 800.
  3. Storme will thus replace the old war-horse – Maruti Suzuki Gypsy. Over 35,000 Gypsies are due for replacement in the coming years.
  4. After the approval of this contract, Tata Motors has become the leading supplier of defence vehicles to the Indian Armed Forces.

Current affairs on 20 April 2017

Flipkart appoints Goldman Sachs for merger

  1. Flipkart has appointed Goldman Sachs as an advisor for the “proposed acquisition” of rival Snapdeal.
  2. Flipkart in the month fo April 2017 had already announced its acquisition of eBay.in as part of a $1.4 billion fundraising round.
  3. Snapdeal has raised about $1.65 billion from about two dozen investors, including SoftBank and SoftBank-backed Chinese e-commerce company Alibaba.
Posted on: 20th April 2017 Read complete Article →

Current affairs on 18 April 2017

Cisco launched 1st in India cyber range lab in Gurugram

  1. US-based tech giant Cisco launched its fifth global and 1st Indian cyber range lab in Gurugram, Haryana which was inaugurated by National Cyber Security Coordinator Gulshan Rai.
  2. Cyber range lab is launched with an aim to train Indian firms and government agencies on real-world cyber attacks. 
     
Posted on: 18th April 2017 Read complete Article →

Toshiba group issued notification that it may not be able to continue in business

  1. Toshiba, 142-year-old Japanese global conglomerate on 11 April 2017 warned that it may not be able to continue as a going concern as it is grappling with billions of dollars in losses and also raised speculation of a possible delisting from the Tokyo Stock Exchange
  2. Company had posted an operating loss of 576.3 billion yen ($5.2 billion) for the nine months ended 31 December 2016. It had earlier missed two previous deadlines for financial results.
  3. The group has inflicted billions of dollars in losses from its Westinghouse Electric nuclear business, which had filed for bankruptcy in the US last month. The nuclear business write-down has pushed Toshiba’s liabilities beyond its level of assets.

Current affairs on 12 April 2017

Facebook launches digital assistant 'M' in US
  1. Social Media gaint Facebook launched its digital assistant named 'M' for US users of its Messenger application, ramping up the social network's efforts in artificial intelligence.
  2. M will pop up and suggest helpful actions in the chat window as it uses artificial intelligence and suggests relevant actions to help manage conversations or help get things done. 
Posted on: 12th April 2017 Read complete Article →
Posted on: 12th April 2017 Read complete Article →
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