SEBI Defers Full Launch of Same-Day Settlement

The Securities and Exchange Board of India (SEBI) has postponed the complete rollout of its same-day settlement (T+0) for securities transactions.

Initially proposed to enhance market efficiency, the T+0 settlement was to be implemented by the end of March 2024.

However, due to concerns raised by offshore investors regarding potential market fragmentation and increased costs, SEBI decided to limit the launch to 25 stocks and a select group of brokers. This decision aims to test the effectiveness of a shortened settlement cycle.

The regulator plans to review the progress after three and six months to determine the future course of action. This phased approach reflects SEBI’s caution and responsiveness to market feedback​​.

Adani Group’s $14 Billion Investment Plan for FY25

The Adani Group, under the leadership of Gautam Adani, plans to significantly boost its investment in India with a major focus on green energy and infrastructure development.

Over the next five years, Adani intends to invest $24 billion in Gujarat, his home state, highlighting a strong commitment to green energy projects and job creation.

This investment strategy includes constructing the “world's largest green energy park,” aiming to generate 30 gigawatts in the Kutch district. The plan underscores a strategic pivot towards renewable energy, aligning with global sustainability goals and marking a significant move away from fossil-fuel-led businesses.

Adani’s ambitious investment plan not only aims to position the conglomerate as a leader in green energy but also contributes to India’s broader economic and environmental objectives. This move is particularly noteworthy as it promises to create 100,000 direct and indirect jobs in Gujarat, further bolstering the state's position as a key hub for renewable energy and infrastructure development in India.

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Air India’s Restructuring Leads to Over 180 Layoffs

Air India, now under the Tata Group since January 2022, has embarked on a journey to redefine its business model, leading to the layoff of more than 180 non-flying staff.

The decision comes as the airline aims to streamline operations and enhance efficiency post its acquisition. Despite offering multiple Voluntary Retirement Schemes (VRS) and reskilling opportunities over the past 18 months, less than 1% of the workforce, unable to utilise these options, faced layoffs.

The airline is focusing on aligning its workforce with organisational needs and individual merit, ensuring it fulfills all contractual obligations during this transition.

This move is part of a broader transformation initiative, aiming to establish an agile organisational structure to support expansion and future ambitions, impacting a small fraction of Air India’s approximately 18,000 employees.

Decathlon Accelerates Investment in India

Decathlon, the French sports retailer, is intensifying its investment in India, signaling its commitment to one of its key global markets.

The company aims to sustain its high growth rate in India, which is also evolving as a significant manufacturing hub for Decathlon, exporting about 65% of its production to global markets. India ranks among Decathlon’s top ten global markets, showcasing a growth rate twice that of other regions.

The company, which made its foray into India in 2009, now operates 129 stores across the country. This investment will not only boost local production and sourcing but also expand Decathlon’s retail footprint, aiming to increase local sourcing to 85% in the next two years.

The decision reflects Decathlon’s optimism about India’s growing sports culture, middle-class engagement in sports, and the country’s potential as a digital and creative powerhouse in production and experiences.

With nearly 29 million app downloads in India, Decathlon is enhancing its omnichannel experience, offering not just sports goods but also sports-related activities. This strategic focus aligns with India’s rising income levels, leading to greater expenditure on sports and leisure, positioning Decathlon to capitalise on the burgeoning demand for sports goods and activities.

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Disclaimer: Artificial intelligence was used as an aid in the writing of this story.