Reliance and Viacom18 on Wednesday announced a strategic partnership with Bodhi Tree Systems — a platform of James Murdoch’s Lupa Systems and Uday Shankar — to form one of the largest TV and digital streaming companies in India.
Bodhi Tree Systems is leading a fund raise with a consortium of investors to invest Rs 13,500 crore in Viacom18, to jointly build India’s leading entertainment platform and pioneer the Indian media landscape’s transformation to a “streaming-first” approach.
Viacom18 is amongst the leading players in the core linear television business with 38 channels across nine languages and a pan-India presence.
The transaction is expected to close within six months and is subject to closing conditions and requisite approvals.
Reliance Projects and Property Management Services, a wholly-owned subsidiary of Reliance Industries which has significant presence in television, OTT, distribution, content creation, and production services, will invest Rs 1,645 crore.
In addition, the popular JioCinema OTT app will be transferred to Viacom18.
Meta-owned Facebook is reportedly unable to account for much of the personal user data under its ownership, including what it is being used for and where it is located, media reports say.
According to the tech website Engadget, privacy engineers on Facebook’s Ad and Business Product team wrote a report last year, intending it to be read by the company’s leadership.
It detailed how Facebook could address a growing number of data usage regulations, including new privacy laws in India, South Africa and elsewhere.
The report’s authors described a platform often in the dark about the personal data of its estimated 1.9 billion users, citing an internal report leaked to Motherboard, the report said.
The engineers warned that Facebook would have difficulty making promises to countries on how it would treat the data of its citizens.
“We do not have an adequate level of control and explainability over how our systems use data, and thus we can’t confidently make controlled policy changes or external commitments such as ‘we will not use X data for Y purpose,'” the authors were quoted as saying.
Xiaomi on Wednesday launched in India its premium flagship smartphone, the Xiaomi 12 Pro 5G. Alongside, the Chinese internet company launched the Xiaomi Pad 5 and Xiaomi smart TV 5A-series in the country. The Xiaomi 12 Pro 5G, Xiaomi Pad 5, and Xiaomi smart TV 5A series will be available across Mi online store, Mi Home, Amazon India and retail stores.
Xiaomi 12 Pro 5G: Specifications, price in India, and sale details
The Xiaomi 12 Pro 5G boasts premium glass-metal construction with Gorilla Glass Victus protection on the front and Gorilla Glass 5 protection on the back. It weighs 205g and measures 8.16mm at its thickest point. It sports a 6.73-inch AMOLED screen of 3200 x 1440 resolution and 120Hz refresh rate. It is a 10-bit LTPO 2.0 panel with Xiaomi AdaptiveSync Pro tech for variable refresh rate (1Hz – 120Hz). The screen is HDR10+ certified and supports Dolby Vision. According to Xiaomi, the screen’s brightness peaks at 1000 nits in high brightness mode and goes up to 1500 nits.
The Xiaomi 12 Pro 5G has a 50-megapixel triple-camera set-up on the back, featuring a Sony IMX 707 primary sensor (f/1.9) with optical image stabilisation, a 115-degree wide ultra-wide-angle sensor (f/2.2), and a telephoto sensor of focal length equivalent to 48mm (f/1.9). On the front, the phone has 32MP in-display camera sensor. The 12 Pro 5G is Xiaomi’s first smartphone in India to feature its ProFocus feature for stills and videography.
The Xiaomi 12 Pro 5G is powered by Qualcomm Snapdragon 8 Gen 1 system-in-chip, paired with up to 12GB LPDDR5 RAM and 256GB on-board storage (UFS 3.1). It boots Android 12-based MIUI 13 interface. It packs a 4,600 mAh battery, supported by company’s proprietary 120W fast-charge solution. The phone also supports 50W fast wireless charging and 10W reverse wireless charging. Other features include quad-speakers for audio with Dolby Atmos and sound by Harman Kardon, X-axis linear vibration motor for haptics, Bluetooth 5.2, and Wi-Fi 6.
The Xiaomi 12 Pro 5G is priced at Rs 62,999 and Rs 66,999 for the 8GB + 256GB and 12GB + 256GB variants, respectively. It will go on sale from May 2.
Xiaomi Next launch event is set to kick off at 12 pm on Wednesday. At the event, the Chinese internet company would launch its premium flagship smartphone, the Xiaomi 12 Pro 5G. Alongside, the company would launch the Pad 5, its maiden tablet in India, and smart TV 5A-series. Though an offline event, the Xiaomi Next will livestream online on Xiaomi official YouTube channel. You can watch the event livestream through the video embedded below.
Xiaomi 12 Pro 5G: Expect specifications
Launched earlier this year in China, the Xiaomi 12 Pro 5G is a premium flagship smartphone. It boasts premium glass-metal construction and sports a 6.73-inch AMOLED screen of 120Hz refresh rate. The screen is HDR10+ certified and supports Dolby Vision. The smartphone sports a 50-megapixel triple-camera set-up on the back, featuring a 50MP primary sensor (f/1.9) with optical image stabilisation, a 50MP 115-degree wide ultra-wide-angle sensor (f/2.2), and a telephoto sensor (f/1.9). On the front, the phone has 32MP in-display camera sensor.
The Xiaomi 12 Pro 5G is powered by Qualcomm Snapdragon 8 Gen 1 system-in-chip, paired with up to 12GB LPDDR5 RAM and 256GB on-board storage (UFS 3.1).
It boots Android 12-based MIUI 13 interface. It packs a 4,600 mAh battery, supported by company’s proprietary 120W fast-charge solution. Other features include quad-speakers for audio with Dolby Atmos and sound by Harman Kardon, X-axis linear vibration motor for haptics, Bluetooth 5.2, and Wi-Fi 6.
The Centre is learnt to have set the price band for the initial public offering (IPO) of Life Insurance Corporation of India (LIC) at Rs 902-949 a share, and may offer a discount of Rs 60 to the policyholders. Retail investors and the employees of LIC, on the other hand, may get a discount of Rs 45 on subscribing to the shares of India’s largest insurer, a senior government official said.
The board of LIC has approved the discount to be offered to the three categories, reservations for policyholders and employees, and the issue dates, the official added.
The government may sell 221.3 million shares, or 3.5 per cent stake, in LIC through the offering. This would help the government garner Rs 21,000 crore, valuing the insurer at Rs 6 trillion. The Securities and Exchange Board of India has approved the reduction in the issue size, the official said.
An exemption on lowering the issue size was required from the market regulator as the existing guidelines mandate a minimum offering of 5 per cent equity and Rs 5,000 crore worth shares for companies valued over Rs 1 trillion.
“All regulatory approvals for LIC’s IPO are now in place,” the official said.
Mukesh Ambani-led Reliance Industries Ltd’s (RIL) became the first Indian listed company to touch the Rs 19-trillion market capitalisation-mark after its shares scaled a record high. The stock hit a new high of Rs 2,827.10, up 2 per cent on the BSE in Wednesday’s intra-day trade in an otherwise weak market.
According to the BSE data, RIL m-cap stood at Rs 19.02 trillion at 09:33 AM, with the stock up 1.3 per cent at Rs 2,811.85. In comparison, the S&P BSE Sensex was down 0.61 per cent at 56,977.
In the past seven trading days, the stock price of RIL has appreciated by 11 per cent from a level of Rs 2,544 on April 18, 2022. In the past three months, the stock has rallied 20 per cent, as compared to 0.42 per cent decline in the S&P BSE Sensex.
“Reliance industries is firing on all cylinders because its petchem business is doing extremely well on the back of a surge in Oil and Gas prices where Singapore gross refining margin (GRM) is at an all-time high. Its telecom business is unaffected by geopolitical tension and inflation whereas it is exploring synergies in its retail business. It is continuously expanding its path in the renewable energy business that opening more opportunities for the company,” said Santosh Meena, Head of Research, Swastika Investmart.
RIL is one of India’s biggest conglomerates with a presence in refining or marketing petrochemicals (O2C), oil and gas exploration, retail, digital services and media, making it a well-diversified business entity. In April-December period (9MFY22), O2C and oil and gas contributed 50 per cent to the EBITDA level whereas retail, digital and others contributed 10 per cent, 34 per cent and 6 per cent, respectively.
RIL and Abu Dhabi Chemicals Derivatives Company RSC (TA’ZIZ) on Tuesday signed a shareholder agreement for a chemical project in Ruwais, Abu Dhabi. The development acquires significance as it will focus on chlor-alkali, ethylene dichloride (EDC) and polyvinyl chloride (PVC) production, which is used in a wide range of industrial applications.
This is expected to unlock new revenue streams for RIL as well as the Abu Dhabi National Oil Company (ADNOC) and ADQ, an Abu Dhabi-based investment and holding company, who are strategic partners in TA’ZIZ, a joint venture company. CLICK HERE FOR FULL REPORT
Japanese utility vehicles major Isuzu Motors on Tuesday announced top management changes in its India operations with Wataru Nakano taking over as the President and Managing Director of Isuzu Motors India (IMI).
The company also announced the appointments of Toru Kishimoto as Deputy Managing Director of IMI and Rajesh Mittal as President of Isuzu Engineering Business Centre India (IEBCI) and as Deputy President of IMI.
Nakano, who was General Manager, LCV Business Department at Isuzu Motors, Japan, has taken over from Tsuguo Fukumura as the President and Managing Director of IMI, the company said in a statement.
With over 30 years of experience in areas of international sales, operations and business strategy, Nakano was responsible for the company’s light commercial vehicles business at Isuzu Motors, Japan.
“His vast experience will add to accelerating Isuzu’s growth in the domestic and export markets,” it added.
In other changes, Toru Kishimoto, who was General Manager, Isuzu Oceania, Europe and America Department, Mitsubishi Corporation, Japan, succeeded Ken Takashima as Deputy Managing Director of IMI.
Having so far catered to the lead acid battery-powered L3 category of three-wheelers, with its recent foray in electric vehicles (EV), Gujarat-based Atul Auto Ltd. would now be looking to cater to the lithium ion-powered L5 vehicles that compete with conventional three-wheelers.
Recently, the company announced its foray into EV three-wheelers through its wholly-owned subsidiary Atul Greentech Pvt Ltd (AGPL) which is engaged in designing and developing innovative solutions for last mile electric mobility for domestic and export markets.
Over the past few years AGPL has developed automotive grade fixed thermal battery solutions, battery management systems and vehicle telematics solutions. However, recently AGPL announced collaboration with Honda Power Pack Energy India Pvt Ltd and Valeo to develop a prototype cargo and passenger three-wheeler vehicle.
“So far, Atul Auto was only present in the L3 category of electric three-wheelers which mostly comprised pedal rickshaws. However, with AGPL the company is now foraying into the L5 category of EV three-wheelers which compete directly with conventional three-wheelers where we are already present with diesel and alternate fuel models,” said Jitendra Adhia, president – finance at Atul Auto Ltd.
The EV business of AGPL will be divided into two separate models. Firstly, AGPL will be selling EV three-wheelers entirely manufactured by Atul Auto with fixed battery solutions. However, the second model involves battery swapping powered by Honda’s Mobile Power Pack and Valeo’s powertrain system.
AGPL would launch the e-vehicle after successful completion of field trials. The vehicle with swapping battery will be equipped with Valeo’s integrated compact electric powertrain system. “This world class swappable solution from AGPL will enable our fleet and individual customers to lower the Total Cost of Ownership and up front capital expenditure,” Adhia added.
In its conventional three-wheeler business, Atul Auto Ltd. manufactures 0.5 and 0.35 tonnes capacity vehicles in diesel as well as alternate fuel ranges including CNG and LNG. While passenger vehicles form 50-55 per cent of its business, the rest comes from cargo models. The company has two plants with 60000 units per annum capacity each totaling 120,000 units per annum along with over 10000 batteries per annum capacity. Having witnessed a setback in the last couple of years due to factors led by COVID-19 pandemic, the company is expecting to bounce back in the financial year (FY) 2022-23.
During a recent Indian Premier League match, West Indian bowler Obed McCoy celebrated taking a wicket by coolly swiping his chin with the back of his hand.
McCoy’s imitation of actor Allu Arjun’s gesture was a reminder of the phenomenal run of ‘Pushpa: The Rise’ at the box office since its release four months ago.
It was also a reminder of the fact that South Indian cinema has perfected the art of making pan-India movies, which appeal to both a larger domestic audience and foreign viewers. And, the results are showing where they matter the most, in terms of money earned.
And Salman Khan too acknowledged it. He said on Monday that it is the heroism in South films that is drawing audiences to theatres, which is lacking in Hindi movies today.
In 2019, Bollywood’s share in domestic box-office revenues was higher than that of South Indian films. The numbers stood at Rs 5,200 crore for Bollywood versus Rs 4,000 crore for South Indian films. Meanwhile, Hollywood’s share stood at Rs 1,500 crore.
Things, however, have changed. An EY-FICCI report has revealed that South Indian films dominated domestic box-office revenues for calendar year 2021 at 2,400 crore rupees. Bollywood was a distant second at 800 crore rupees and Hollywood third at 500 crore rupees.
Till February this year, Telugu cinema was reportedly doing better business at the box-office than any regional language cinema.
According to Ormax Box Office Report 2020 and 2021, which had been shared exclusively with Business Standard back in February, Telugu cinema’s share in box-office revenues had risen to 29 per cent — higher than Hindi’s 27 per cent and Tamil’s 17 per cent share.
Karnataka Chief Minister Basavaraj Bommai on Monday said the silver jubilee edition of ‘Bengaluru Tech Summit-2022 (BTS-22)’- State government’s flagship technological event – would be organised at an international-level.
The summit would be held from November 16-18.
The Chief Minister today chaired a meeting over breakfast with a number of CEOs and leaders from the fields of electronics, IT, biotech and startups here.
“In November, we are holding the Bengaluru Tech Summit. In this regard, I have met industry leaders and they have given various suggestions concerning their respective sectors. This year’s Tech Summit will be its 25th year and we want to make it special and of international-level,” Bommai said.
Speaking to reporters after the meeting, the Chief Minister said he has received various suggestions regarding technology, policy, infrastructure and eco system, among others, and most of which have been taken positively by the government and would be implemented at the earliest.
“This summit will give a new dimension…we want to make Bengaluru number-one silicon city. The government will give importance to all these sectors in the days to come ,” he said, adding that discussions happened on improving infrastructure in Bengaluru, especially where the IT sector is located and efforts are on to have similar facilities outside the city, aimed at decongesting it.
The event with the tagline ‘Tech for Next Generation’ would be held in physical format on the Bengaluru Palace premises and for the first time pre-events of BTS would be held in foreign countries including USA, the UK, and Japan.
Minister for Electronics and IT/BT C N Ashwath Narayan attended the meeting, too. While speaking to reporters, he said the government would promote Web 3.0 and Metaverse technologies and aims to take the benefits of these developments to remote villages by framing suitable policies.
News Time 