Apple began sales from its online store in India from last week, also coming closer to open a company-owned outlet that it calls one of its most-promising globally. This is the first time that the company has started sales on its own as it had been selling through third-party offline and online partners so far. However, with focus shifting to India in a strong way and the company boosting its manufacturing power here, it is now strengthening direct sales in the country. Apple analysts said response on the opening day has been “very positive”, especially as there has been traction in the online space amid the pandemic. The company is offering full range of its product line-up, ranging from iPhones, iPads, watches and Mac range of computers.
Sebi eases rules for rights offers
To make it easier for listed entities to get more capital, Sebi revised fund-raising rules. These include allowing companies to make limited disclosures if they mobilise funds through the rights offer route, provided they met all the disclosure norms. The regulator decided to amend the Sebi (Issue of Capital and Disclosure Requirements) Regulations “with an objective to make the fund-raising through this route easier, faster and cost-effective,” it said. The amendments allowed companies to make truncated disclosures, provided the company has been filing periodic reports, statements, information in compliance with listing regulations for last one year instead of last three years, as was required earlier. Sebi also allowed companies in which three years have passed after a change in its management.
Gujarat govt signs MoU with Welspun
The Gujarat government has signed a memorandum of understanding (MoU) with Welspun Group through its group companies - Welspun Metallics Ltd and Welspun DI Pipes Ltd - for setting up a steel and GI pipes project. “The steel plant with various special grade iron products and ductile iron pipes is worth £125 million and this project will generate an employment outlay of around 2,000,” chief minister Vijay Rupani said. “The government has been working to make the state self-reliant, as envisioned by PM Modi.” MK Das, ACS, industries and mines department, said the state government will help the company obtain all necessary permissions in a time-bound manner for setting up the project. Welspun Group has interests in line pipes, home textiles, infrastructure, warehousing, oil & gas, steel, advanced textiles and flooring solutions. The company has an active presence in Gujarat and through its latest project in Kutch district, will further bolster its presence in the state.
