$1.18 billion
What is it? The amount Tata Sons will pay Japanese telecom firm NTT Docomo for its stake in their Indian joint venture.
Why is it important? This ends the dispute between two former partners in the telecom venture. The settlement was 60% lower than what Docomo demanded initially in a London court. The resolution was finally reached through an out-of-court settlement.
Tell me more: Docomo had decided to withdraw from India in 2014 but a pre-determined price of either half of its original investment of $2.2 billion in 2009 or a fair market value was opposed by India’s central bank. Unable to find another buyer, Tata Sons had offered to buy back the stake which was devalued by a PWC audit.
4.4%
What is it? The official estimated rate of growth of the farm sector (agriculture, forestry and fishing) in fiscal year 2017.
Why is it important? The sector, 60% of which is made up by crop output including fruits, vegetables and grains, contributes 16.11% to India’s gross added value (GVA). But the expected growth above 5% after two years of drought is still elusive.
Tell me more: Production of food grains in the Kharif and Rabi seasons of 2016-17 grew by 9.9% and 6.3%, respectively, compared to the decline of 2.3% and growth of 2.0%, respectively, in the previous year.
$5.37 billion
What is it? The valuation of Flipkart by one of its investors, Morgan Stanley Institutional Fund Trust, as revised by it in the December 2016 quarter.
Why is it important? Morgan Stanley is the fifth investor to revise downwards the valuation of Flipkart, India’s largest e-commerce company. Fidelity, T Rowe Price, Valic Co. and Vanguard have cut their estimates of Flipkart’s value over the past year.
Tell me more: Flipkart’s valuation from its last funding was at $15 billion. It is now looking to raise $1.5 billion, according to reports, valuing the company at $10-12 billion.
6
What is it? The number of engine snags reported in Airbus A320neo in the last one month, forcing India’s civil aviation regulator to start an investigation.
Why is it important? Though only 21 A320neo are operated in India by Indigo and GoAir, these two airlines have cumulatively ordered 500 jets of this model mainly on account of superior fuel efficiency.
Tell me more: Indigo, the market leader, will go ahead with planned expansion of its fleet despite the latest snags in engines manufactured by Pratt & Whitney. Airbus launched A320neo in January last year.
Up to 1 degree Celsius
What is it? India will experience higher than normal (up to 1 degree C) temperature in the summer months of March to May, according to the India Meteorological Department.
Why is it important? Above normal temperature impacts monsoon and causes heat wave conditions. Last year was the warmest on record since 1901, but India experienced normal monsoon in 2016 after two consecutive droughts in 2014 and 2015.
Tell me more: More than 700 people died last year because of heat wave conditions in India.
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