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5. Apple-Designed Wi-Fi 7 Chip

Apple Inc is reportedly in discussions with Micron, Tata Group and other Indian chip manufacturers to procure semiconductors for its locally-produced iPhones.



What Happened: Apple&#8217;s demand for semiconductors is projected to reach $12 billion (around ₹1 lakh crore) by 2026, according to a report by Financial Express. By this time, the tech giant plans to shift 26% of its global iPhone production to India. 



If Micron and Tata Group&#8217;s units, expected to be functional by then, can produce the required grades, they could secure substantial business from the world&#8217;s largest company.



See Also: <a href="https://in.benzinga.com/content/40785075/tata-electronics-and-tokyo-electron-join-forces-to-strengthen-semiconductor-infrastructure" target="_blank" rel="noreferrer noopener">Tata Electronics And Tokyo Electron Join Forces To Strengthen Semiconductor Infrastructure</a>



Apple&#8217;s spending on Indian-made microchips is likely to exceed that of any other single company in the defence, aviation and auto sectors. In FY24, Apple manufactured iPhones worth $14 billion (₹1.17 lakh crore) in India, which accounted for nearly 14% of its global iPhone production.



Apple&#8217;s global semiconductor consumption has surged over threefold from $18.8 billion (₹1.57 lakh crore) in 2011 to around $72 billion (around ₹6.04 lakh crore) currently. The company initiated the production of iPhones in India under the smartphone production-linked incentive scheme through its three Taiwanese vendors in 2021.



The Indian government launched a ₹76,000-crore incentive scheme in 2022 to stimulate domestic semiconductor production. To date, five chip projects worth ₹1.5 lakh crore have been approved under this scheme, leaving about ₹10,000 crore for future projects. 



Read Next: <a href="https://in.benzinga.com/content/40774039/tata-power-commences-production-of-solar-cell-at-manufacturing-facility-in-tamil-nadu" target="_blank" rel="noreferrer noopener">Tata Power Commences Production Of Solar Cell At Manufacturing Facility In Tamil Nadu</a>




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If Micron and Tata Group's units, expected to be functional by then, can produce the required grades, they could secure a substantial business from the world's largest company.

Apple In Talks With Micron, Tata Group To Secure India-Made Chips For Locally Made iPhones 

Ananthu C U

Apple

Tata Group

Apple In Talks With Micron, Tata Group To Secure India-Made Chips For Locally Made iPhones

Vodafone Idea

Shares of Vodafone Idea soared after reports said that the Indian telecom giant was in discussions with&nbsp;state-owned lenders Power Finance Corp&nbsp;(PFC) and REC to secure loans for its medium-term funding requirements.



What Happened: Vodafone Idea and its parent company, Aditya Birla Group (ABG), have been in discussions with PFC and REC for the past fortnight, according to a report by The Economic Times. The telecom company aims to bridge a funding gap of ₹25,000 crore to cater to capital expenditure and maintenance costs for the upcoming three years.



However, no formal proposal has been submitted by the company yet, and the state-owned non-banking financial companies (NBFCs) have not actively considered the plan, ET said citing sources.



See Also:&nbsp;<a href="https://in.benzinga.com/content/40785222/suzlon-shares-jump-nearly-3-5-as-morgan-stanley-remains-overweight-after-ntpc-order" target="_blank" rel="noreferrer noopener">Suzlon Shares Jump Nearly 3 5 As Morgan Stanley Remains Overweight After Ntpc Order</a>



While Vodafone Idea&#8217;s financial profile poses a risk for the NBFCs, the company&#8217;s assets could offer adequate security for any funding. The telecom company is also exploring the possibility of&nbsp;partial funding of its requirements&nbsp;with the&nbsp;State Bank of India.



This comes as Vodafone Idea is grappling with financial challenges. The company has been struggling with a massive debt burden and has been seeking ways to raise funds to stay afloat. The company has a debt of ₹2 lakh crore, encompassing liabilities and dues owed to the government. 



In February, the telecom company&#8217;s board unveiled a plan to raise ₹45,000 crore via debt and equity. In April, it secured ₹18,000 crore through a follow-on public offering. 



Last week, Goldman Sachs projected a <a href="https://in.benzinga.com/content/40744512/vodafone-ideas-share-price-tanks-10-as-goldman-sachs-warns-of-further-market-share-losses">potential downside of up to 83%</a> in its share price. If successful, the funding would offer Vodafone Idea the financial cushion it needs to meet its medium-term obligations and possibly reverse its fortunes.



Price Action: Shares of Vodafone Idea jumped 3.48% to ₹13.66 on Tuesday morning.



Read Next:&nbsp;<a href="https://in.benzinga.com/content/40785075/tata-electronics-and-tokyo-electron-join-forces-to-strengthen-semiconductor-infrastructure" target="_blank" rel="noreferrer noopener">Tata Electronics And Tokyo Electron Join Forces To Strengthen Semiconductor Infrastructure</a>




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The telecom company aims to bridge a funding gap of ₹25,000 crore to cater to capital expenditure and maintenance costs for the upcoming three years.

Vodafone Idea Jumps Over 3% Amid Reports Of Funding Talks With PFC, REC 

Nivedita Hazra

The telecom company aims to bridge a funding gap of ₹25,000 crore to cater to capital expenditure and maintenance costs for the upcoming three years.

Vodafone Idea Jumps Over 3% Amid Reports Of Funding Talks With PFC, REC

IREDA HUDCO Bonds

Shares of the Indian Renewable Energy Development Agency (IREDA) gained 3% on Tuesday after the company signed a deal with SJVN and GMR Energy to develop a hydro project in Nepal.



What Happened: IREDA signed initial pacts with the other companies to develop and implement a 900-megawatt Upper Karnali hydroelectric project in Nepal. The collaborative venture aims to enhance regional energy security by developing a renewable energy structure. 



The project will help the company use Nepal's vast hydropower potential. IREDA's board had approved the decision to snap up 10% each in terms of shareholding in each of the Karnali project and Karnali Transmission Company, which will add up to a total investment of ₹290 crore in the special purpose vehicles. 



See Also: <a href="https://in.benzinga.com/content/40774039/tata-power-commences-production-of-solar-cell-at-manufacturing-facility-in-tamil-nadu">Tata Power Commences Production Of Solar Cell At Manufacturing Facility In Tamil Nadu</a>



In August, IREDA's board approved the proposal to raise ₹4,500 crore through a follow-on public offer (FPO), qualified institutional placement (QIP), rights issue or preferential issue.&nbsp;



IREDA is a mini-Ratna company under the Ministry of New and Renewable Energy. The company offers a wide range of financial products and services, both fund-based and non-fund-based. The company supports renewable energy projects, including equipment manufacturing and related activities. 



Price Action: Shares of IREDA rose 3.38% to ₹230.71 on Tuesday morning.&nbsp;



Shares of SJVN also rose 2.65% to ₹129.55 on the bourses. 



Read Next: <a href="https://in.benzinga.com/content/40785075/tata-electronics-and-tokyo-electron-join-forces-to-strengthen-semiconductor-infrastructure">Tata Electronics And Tokyo Electron Join Forces To Strengthen Semiconductor Infrastructure</a>

IREDA gained 3% after signing deal with SJVN and GMR Energy to develop a 900 MW hydro project in Nepal. 

Why IREDA Share Price Jumped Back Into The Black After 4 Days 

IREDA

SJVN

Why IREDA Share Price Jumped Back Into The Black After 4 Days

Tata Sons, as the parent company of the Tata Group, holds the majority of shares in its companies, along with extensive land holdings across India. It is also the promoter for the Tata Group of companies. 



Interestingly, seven philanthropic trusts hold the company&#8217;s majority shareholding, including the Sir Dorabji Tata Trust, the Sir Ratan Tata Trust and the RD Tata Trust among others. Altogether, they own over 65% of the company.



Among the company&#8217;s preference shareholders, Ratan Tata holds nearly 50% of the company, and in the past year, the list of preferential shareholders has seen one major exit.



See Also: <a href="https://in.benzinga.com/content/40785729/gopal-snacks-bikaji-foods-and-prataap-snacks-shares-rise-up-to-9-after-gst-rate-cut-on-namkeen">Gopal Snacks, Bikaji Foods And Prataap Snacks Shares Rise Up To 9% After GST Rate Cut On Namkeen</a>



Ishaat Hussain offloaded his entire 2.05% stake in the company as of financial year ended March 2024, data shows. As of March 2023, Hussain, along with his daughter Shameem, held 55,000 shares in the company but by the end of the upcoming year, they diluted their entire shareholding.



Hussian was a veteran at the conglomerate with a career spanning nearly four decades at the Tata Group. In his 36 years of career, he has worn many hats from being the director at Tata Sons and Tata Steel to the chairman of Voltas and Tata Sky. 



Throughout his tenure at the company, Hussian has worked alongside J.R.D. Tata, Ratan Tata, Cyrus Mistry and N Chandrasekaran, until he stepped down in 2017.



Read Next: <a href="https://in.benzinga.com/content/40785721/apple-supplier-jabil-to-enter-tamil-nadu-with-2-000-cr-manufacturing-plant">Apple Supplier Jabil To Enter Tamil Nadu With ₹2,000 Cr Manufacturing Plant</a>

Hussian was a veteran at the conglomerate with a career spanning nearly four decades at the Tata Group. 

Bihar-Born Tata Veteran Offloads Entire Stake In Tata Sons After Spending Nearly 4 Decades At The Company

Shares of Gopal Snacks, Bikaji Foods and Prataap Snacks gained on Tuesday after the GST council cut rates on Namkeen.



What Happened: The GST council on Monday decided to cut the rate on namkeen and savoury products to 12% from 18%. Finance Minister Nirmala Sitharaman in a press conference said, &#8220;Decision on namkeens, extruded, expanded savoury food items &#8211; GST rate on these is being reduced prospectively from 18 to 12%,&#8221; during the press conference.



Extruded snacks may continue to get 18% GST while snacks and savoury items, like bhujia, could potentially be subject to a 12% GST. 



Gopal Snacks is an FMCG company that offers ethnic snacks such as nankeen, gathiya, wafers and extruded snacks.



See Also: <a href="https://in.benzinga.com/content/40785430/vodafone-idea-jumps-over-3-amid-reports-of-funding-talks-with-pfc-rec">Vodafone Idea Jumps Over 3% Amid Reports Of Funding Talks With PFC, REC</a>



Bikaji Foods dabbles in snacks such as bhujia, namkeen, packaged sweets, papad and western snacks.



Prataap Snacks offers potato chips, extruded Snacks, namkeen and sweet snacks.



Price Action: Shares of Gopal Snacks rose 9.5% to an intraday high of ₹357.5.



Shares of Bikaji Foods International surged 7.77% to an intraday high of ₹899.8.



Shares of Prataap Snacks gained 7.78% to its intraday high of ₹877.&nbsp;



Read Next: <a href="https://in.benzinga.com/content/40785469/why-tata-powers-share-price-is-upbeat-today">Why Tata Power&#8217;s Share Price Is Upbeat Today</a>

Shares of Gopal Snacks, Bikaji Foods, and Prataap Snacks rose after GST council cut rates on namkeen. Gopal Snacks was up 9.5%, Bikaji Foods up 7.77%, Prataap Snacks up 7.78%.

Gopal Snacks, Bikaji Foods And Prataap Snacks Shares Rise Up To 9% After GST Rate Cut On Namkeen

Apple supplier Jabil is setting up a new facility in Tamil Nadu. the country&#8217;s chief minister said while announcing a slew of investments on Tuesday.



What Happened: The electronics supplier will set up a ₹2000 crore manufacturing plant in Tiruchirapalli, the state&#8217;s Chief Minister M.K. Stalin announced in a post on micro-blogging platform X. Jabil&#8217;s new facility will create 5,000 jobs and a new cluster for electronics manufacturing, Stalin added.



With this, the state will now become house to all major Apple suppliers including Foxconn , Pegatron, Tata Electronics and Jabil.



See Also: <a href="https://in.benzinga.com/content/40785430/vodafone-idea-jumps-over-3-amid-reports-of-funding-talks-with-pfc-rec">Vodafone Idea Jumps Over 3% Amid Reports Of Funding Talks With PFC, REC</a>



Stalin also announced other key investments in the state. This includes a ₹666 crore manufacturing facility by Rockwell Automation. The expansion of its operations is expected to create 365 new jobs. 



The state has also signed a memorandum of understanding with software firm Autodesk to skill youth and empower micro, medium and small enterprises and startups, to reinforce the broader industrial ecosystem, the post added.



Separately, Apple is also reportedly in talks with Micron, Tata Group and other Indian chip manufacturers to <a href="https://in.benzinga.com/content/40785419/apple-in-talks-with-micron-tata-group-to-secure-india-made-chips-for-locally-made-iphones">procure semiconductors for its locally-produced iPhones</a>. Apple's demand for semiconductors is projected to reach $12 billion (around ₹1 lakh crore) by 2026. 



If Micron and Tata Group's units, expected to be functional by then, can produce the required grades, they could secure substantial business from the world's largest company.



Read Next: <a href="https://in.benzinga.com/content/40785240/ireda-shares-surge-3-on-joining-hands-with-sjvn-gmr-energy-for-mega-nepal-hydro-project">IREDA Shares Surge 3% On Joining Hands With SJVN, GMR Energy For Mega Nepal Hydro Project</a>

With this, the state will now become house to all major Apple suppliers, including Foxconn, Pegatron, Tata Electronics and Jabil.

Apple Supplier Jabil To Enter Tamil Nadu With ₹2,000 Cr Manufacturing Plant

NBCC&#8216;s share price has surged over 100% since the start of the year, but analysts at Nuvama think the stock still has some steam left.



The NBCC Analyst: Analysts at Nuvama Institutional Equities maintained the &#8220;hold&#8221; rating on the stock with a price target of ₹198. The target indicates an around 15% upside from the stock&#8217;s last closing price of ₹173.67.



The NBCC Thesis: The brokerage firm said that the public sector firm is well placed for growth thanks to several factors. The first one is its robust order book. The company has a strong order book of ₹81,000 <a href="https://in.benzinga.com/content/40428919/nbcc-sees-orderbook-expand-to-81-000-cr-targets-1-lakh-cr-mark-by-year-end">crore with a book-to-bill ratio of around 7.6x. The company&#8217;s order inflow has also remained strong.</a>



The analysts highlighted that since the start of FY25, the company has bagged orders <a href="https://in.benzinga.com/content/40276417/nbcc-shares-surge-11-after-winning-15-000-cr-order">worth around ₹19,800 crore</a>. For the year ended March 2024, order inflows stood at ₹23,500 crore.



See Also: <a href="https://in.benzinga.com/content/40785240/ireda-shares-surge-3-on-joining-hands-with-sjvn-gmr-energy-for-mega-nepal-hydro-project">IREDA Shares Surge 3% On Joining Hands With SJVN, GMR Energy For Mega Nepal Hydro Project</a>



The brokerage firm also pointed out that NBCC is leveraging its expertise in reviving stalled housing projects and has proposed a three-phase plan to complete 50,000 apartments across 17 supertech projects over the next three years. In addition, the company has been tasked with developing a township in Srinagar valued at ₹15,000 crore.



NBCC has successfully monetised about ₹13,400 crore in the World Trade Centre (WTC) project, exceeding its initial estimate of ₹12,500 crore. The analysts also highlighted that a buoyant real estate market is providing the company with increased opportunities, as many public sector units and government entities are looking to monetise surplus land holdings.



Price Action: NBCC&#8217;s share price was up 1.11% to trade at ₹175.59 in early trade on Tuesday.



Read Next: <a href="https://in.benzinga.com/content/40785287/dixon-technologies-jumps-on-partnership-with-hp-india-for-manufacturing-of-desktops-notebooks">Dixon Technologies Jumps On Partnership With HP India For Manufacturing Of Desktops, Notebooks</a>



Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

NBCC&#39;s share price has surged over 100% since the start of the year, but analysts at Nuvama think the stock still has some steam left.

NBCC Shares Have Surged Over 100% This Year: Why Analyst Thinks There&#39;s More Steam Left

Tata Power&#8216;s share price was upbeat on Tuesday morning going up close to 2% to hit an intraday high of ₹425.80.



What Happened: The stock is in the green today as the Tata Group company commenced the production of solar cells at its 4.3-gigawatt plant in Tirunelveli, Tamil Nadu, marking the launch of operations at India&#8217;s largest single-location solar cell <a href="https://in.benzinga.com/content/40774039/tata-power-commences-production-of-solar-cell-at-manufacturing-facility-in-tamil-nadu">and module manufacturing facility. </a>



The announcement was made by TP Solar Limited, a subsidiary of Tata Power Renewable Energy Limited (TPREL), itself a subsidiary of Tata Power on Monday evening. Currently operating at a 2-gigawatt capacity, the plant is expected to ramp up its production over the next four to six weeks, with plans to reach peak capacity in the coming months.



See Also:&nbsp;<a href="https://in.benzinga.com/content/40771776/hal-appoints-dk-sunil-as-chairman-and-managing-director" target="_blank" rel="noreferrer noopener"></a><a href="https://in.benzinga.com/content/40771776/hal-appoints-dk-sunil-as-chairman-and-managing-director" target="_blank" rel="noreferrer noopener">HAL Appoints DK Sunil As Chairman And Managing Director</a>



Tata Power has invested approximately ₹4,300 crore in the establishment of its solar cell and module manufacturing facility in Tirunelveli, Tamil Nadu. Initially, the solar cells and modules produced at the plant will support the company's ongoing projects, with plans to expand distribution to the broader market in the future.



Last month, Tata Power announced a partnership with ICICI Bank to promote the wider adoption of solar energy. Tata Power Solar Systems, a wholly-owned subsidiary of Tata Power Renewable Energy Limited (TPREL), teamed up with ICICI Bank to offer easy financing options for customers <a href="https://in.benzinga.com/content/40523742/tata-power-solar-icici-bank-collaborate-to-propel-solar-energy-adoption">looking to purchase solar panels.</a>



Price Action: Tata Power&#8217;s share price was up 1.35% to trade at ₹423.50 shortly after market open on Tuesday.



Read Next: <a href="https://in.benzinga.com/content/40785075/tata-electronics-and-tokyo-electron-join-forces-to-strengthen-semiconductor-infrastructure">Tata Electronics And Tokyo Electron Join Forces To Strengthen Semiconductor Infrastructure</a>



Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.

Tata Power&#39;s share price was upbeat on Tuesday morning going up close to 2% to hit an intraday high of ₹425.80.

Why Tata Power&#39;s Share Price Is Upbeat Today

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