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a. Maruti Suzuki India witnessed a drop in production of almost 51% in the month of September 2021 owing to shortage of semiconductor chip.
b. The company reported a production of 81,278 units in September 2021, whereas 1,66,086 units were produced in September 2020.
c. Semiconductors are silicon chips that cater to control and memory functions in products ranging from automobiles, computers and cell phones to various other electronic items.
d. The usage of semiconductors in the auto industry has gone up globally in recent times with new models having more and more electronic features such as Bluetooth connectivity and driver-assist, navigation and hybrid-electric systems also known as “Internet Inside”.
e. If you want to know more about Maruti Suzuki Limited and its history watch this video.
a. Zostel Hospitality Pvt. Ltd, the owner of Zostel Hostels and ZO Rooms, has written to the Securities and Exchange Board of India (SEBI), persuading it to reject the draft prospectus filed by hospitality unicorn Oravel Stays Ltd, which operates brand Oyo and suspend the latter’s proposed initial public offering (IPO).
b. Zostel said in the letter, “Accordingly, Oravel’s filing of the DRHP in the circumstances is illegal, in view of the stipulation contained under Regulation 5(2) of the Securities and Exchange Board of India Issue of Capital and Disclosure Requirements (ICDR) Regulations, 2018. Zostel’s shareholders have a right to get issued in their favour, 7% of the equity securities of Oravel. Oravel has failed to grant the same and hence is prohibited from making any public offer of its shares.”
c. According to Zostel Hospitality, ZO Rooms and Oyo had entered into talks for a merger in 2015, executing an agreement on 26 November that year. ZO Rooms completed its obligation under the agreement and transferred the business, but Oyo failed to transfer 7% to the ZO Room’s shareholder, Zostel alleged earlier.
d. While filing its draft prospectus for its $1.2 billion (₹8430 crore) IPO, Oyo cited that legal-proceedings involving Zostel may materially and adversely affect its business as one of the many risk factors.
e. Oyo is of the opinion that Zostel is trying to create a wrong perception and distracting Oyo from pursuing its business goals.
a. Strong growth in registration of new Systematic Investment Plans (SIPs) is helping local funds to expand their dominance and push up the stock market rally.
b. September 2021 witnessed the registration of 2.68 million New SIP accounts, according to data from the Association of Mutual Funds in India. The net SIP accounts stand at 1.654 million after offsetting the 1.026 discontinued SIP accounts.
c. The rolling cumulative inflow from the SIP accounts in the six months till end of September 2021 has been ₹56,452 crore, the highest since data has been available with the AMFI.
a. Vodafone Idea is in dire need of capital infusion for growth and survival and Kumar Mangalam Birla is planning to contribute it out of his personal funds.
b. Kumar Mangalam Birla might contribute an additional capital up to Rs.1,000 crores to solve the problems Vodafone Idea is facing. The contribution is not going to come from any other entity but out of personal funds of Mr. Birla.
c. Further, Mr. Birla is also putting efforts in convincing the government for a telecom relief package, which could help the company manage its problems.
a. The CPI inflation for September 2021 came in at 4.35% compared to 5.30% in August as on October 12. This fall is mainly because of CFPI (Consumer Food Price Inflation) which is 0.68% in September compared with 3.11% in August 2021.
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