Morning Buzz: Laptop licensing may see extension, Nazara raises Rs100 crore from Nikhil Kamath and more
Here are the top business headlines this morning to get your day started
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Laptop licensing may see a year’s extensionÂ
The government may extend by 9-12 months the import licensing scheme for laptops. The scheme was to kick in from November 1. The government wants to assess the response to the Rs 17,000 crore IT hardware PLI scheme, and since there has been a surge in smartphone shipments in FY23, there are fears that there could be similar retaliatory measures by other countries once the scheme kicks in.
(Financial Express)
Bain to team up with Dr Reddy’s for Cipla bid
Senior leadership teams for Bain and Dr Reddy’s Laboratories met to discuss a joint bid for Cipla. So far, the only Indian company in the fray for Cipla is Torrent. If the deal goes through, it would create a significant generics player that could rival Sun Pharma. One obstacle is the low promoter stake at 26.6 percent. Bidding for Cipla will mean that it would get diluted further.
(Economic Times)
Nazara raises Rs 100 crore from Nikhil Kamath
Nazara has raised Rs 100 crore from Nikhil Kamath at Rs 714 per share. Nazara’s shares rose 10.2 percent on the news to close at Rs 837. This will take Kamath’s stake in the firm from 1 percent to 3.5 percent. According to analysts, the funds may be deployed for freemium or gamified early learning as the real money gaming segment is facing regulatory hurdles.
