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Business News/ Companies / News/  News In Numbers | Infosys spends $62.18 million on a dozen start-ups
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News In Numbers | Infosys spends $62.18 million on a dozen start-ups

In other news, Rs106.53 crore worth of cash, liquour and narcotics was seized from the five poll-bound states by Election Commission-appointed surveillance teams

Infosys has been frugal with its fund, spending a little over 12% of its kitty, expanded in 2015 to $500 million from $100 million. Photo: MintPremium
Infosys has been frugal with its fund, spending a little over 12% of its kitty, expanded in 2015 to $500 million from $100 million. Photo: Mint

Rs 106.53 crore

What is it? The worth of cash, liquor and narcotics seized in the five election-bound states by Election-Commission-appointed surveillance teams.

Why is it important? Two months since demonetisation to limit black money, major elections continue to draw illegal inducements of which 78% is cash. The amount can only go up with polls starting from February 4 in no less than five states. Every major election draws out a slew of forbidden bribes for voters from political parties contesting them. The worth of the seizures still remain short of the record Rs 140 crore in cash and kind found in Andhra Pradesh in 2014 and the more recent over-Rs-100-crore in cash in Tamil Nadu in 2016.

Tell me more: Uttar Pradesh accounted for 85% of the seized amount. Apart from central EC observers, 200 election-expenditure inspectors were also appointed for detecting such activity.

17.5%

What is it? Rate of sales growth in April-December, 2016, of Tata Motors’ passenger cars.

Why is it important? It could give Tata Motors, which has struggled with its passenger car sales, newfound confidence as it beat the industry growth of 8.6%. The pickup in sales, inspite of the recent demonetisation impact, has reportedly added 0.6% market share taking it to 5.3%.

Tell me more: Attributing the rise in sales to new-design models like its Zest and Tiago, the company is close to launching a new SUV, Hexa. Twenty projects involving new products and improving efficiency all across are also on the cards.

$62.18 million

What is it? The amount spent by Infosys from its innovation fund, set up in 2013, on a dozen start-ups.

Why is it important? The second-largest software exporter has been frugal with its fund, spending a little over 12% of its kitty, expanded in 2015 to $500 million from $100 million. It could have been slowed down by the general wariness among investors that saw average deal size in venture capital circles reduce from $15.57 million in April, 2015 to $3.21 million a deal in April, 2016.

Tell me more: These investments could turn into acquisitions later on, providing a part of its targeted $1.5 billion revenue from M&As by 2020.

$800 million-1 billion

What is it? The likely value of a reported stake-sale in ICICI Lombard by Fairfax Financial Holdings, its Canadian co-investor.

Why is it important? The expected worth of the 25% share sale, leaving Fairfax with only 10% underlines ICICI Lombard’s rise in valuation. Operating in an industry growing at 16% since 2006, the largest Indian private general insurer has increased its valuation from $2.6 billion in 2015 to a reported $3.2-4 billion.

Tell me more: Fairfax, led by the Canadian businessman, Prem Watsa, is yet to appoint an investment bank for the sale.

39

What is it? The number of people killed in a train accident Saturday night near Kuneri station in Andhra Pradesh. 50 were injured in the derailment of Hirakhand express train from Jagdalpur to Bhubaneswar.

Why is it important? It comes two months after Indore - Patna Express derailed in Uttar Pradesh in November last year, killing 150 people, and a reminder that the country has to improve the safety of its rail network.

Tell me more: In 2014, there were 27,581 railway deaths in India, mostly of people getting hit by a train or falling from it. One of them involved a train ramming into a school bus in an unmanned level crossing, killing 18 people in the bus, including 16 students.

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Published: 23 Jan 2017, 11:03 AM IST
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