Union Cabinet approves 3 metro rail projects in Karnataka and Maharashtra
New Delhi: The Union Cabinet approved three metro rail projects in Karnataka and Maharashtra, with a combined estimated cost of approximately Rs 30,765 crore.
Finance
Ola Electric Mobility sees 20% valuation jump on motorcycle launch and battery plan
India's leading e-scooter manufacturer, Ola Electric Mobility, saw its valuation soar by 20 percent on Friday, reaching Rs 58,664 crore ($6.99 billion), following the launch of its new motorcycle lineup and optimism about cost reductions through in-house battery production, media reports said.
Ola Electric Mobility sees valuation jump 20% on motorcycle launch and battery plan
India's leading e-scooter manufacturer, Ola Electric Mobility, saw its valuation soar by 20 percent on Friday, reaching Rs 58,664 crore ($6.99 billion), following the launch of its new motorcycle lineup and optimism about cost reductions through in-house battery production, media reports said.
Adani Group pledges 51% stake in Navi Mumbai airport for Rs 12,770 cr loan: Report
Mumbai: The Adani Group-controlled Mumbai International Airport Ltd (MIAL) has pledged a 51 percent stake in the Navi Mumbai International Airport (NMIAL) to the State Bank of India (SBI), media reports said.
India's medicine and antibiotics exports to US, Italy grow
New Delhi/IBNS: India has become the third largest import source of medicine put up for retail sale in the United States, following Ireland and Switzerland, according to media reports citing Ministry of Commerce data.
Hindustan Zinc planning dividend payout of Rs 8,000 cr
Mumbai: Vedanta group firm Hindustan Zinc Ltd (HZL) is reportedly planning a special dividend payout of Rs 8,000 crore to its shareholders in the current fiscal, media reports said.
Telecom companies witness weak ARPU growth in 2024
New Delhi: The telecom companies in India have witnessed a significantly smaller rise in Average Revenue Per User (Arpu) at 7.5 percent in FY24, against nearly 20 percent in FY23, media reports said, citing the latest government data.
Ola founder Bhavish Aggarwal's first Krutrim AI chips to be ready by 2026
Bengaluru: Krutrim, an AI startup founded by Ola Cabs co-founder and CEO Bhavish Aggarwal last December, announced on Thursday that it plans to design, develop, and launch its first AI chip by 2026, media reports said.
Foxconn chief meets PM Modi, explores investment plan in Karnataka, Tamil Nadu and Andhra Pradesh
New Delhi/IBNS: Young Liu, the chairman of iPhone contract manufacturer Foxconn, on Wednesday (Aug 14) met Prime Minister Narendra Modi and discussed the Taiwanese tech company's investment plan in India.
Govt to boost India's critical minerals self-reliance with financial incentives
New Delhi: The government announced on Wednesday its plans to introduce financial incentives for the development of critical minerals, including lithium, as part of its National Critical Minerals Mission.
Ather Energy attains unicorn status after raising $71 million from National Investment and Infrastructure Fund
Hyderabad: Electric two-wheeler maker Ather Energy has raised $71 million in a new funding round led by its existing investor, the National Investment and Infrastructure Fund (NIIF), elevating the company's valuation to $1.3 billion and securing its status as a unicorn, according to sources familiar with the matter, Moneycontrol reported.
Ola Electric Mobility Q1FY25 loss widens to Rs 346 cr YoY
Bengaluru: Bhavish Aggarwal-led Ola Electric Mobility reported a year-on-year (YoY) increase in losses for Q1 FY25, reaching Rs 346 crore, compared to Rs 268 crore in Q1 FY24.
Merchandise exports fall in July 2024 on muted demand for petroleum products
New Delhi: India’s merchandise exports fell after three months in July 2024, down 1.48 percent to $33.98 billion compared to $34.49 in July 2023 on the back of subdued global demand and geopolitical challenges.
India's auto industry sees steady growth in July 2024: SIAM
Mumbai: India's automobile sector recorded a robust performance in July 2024, driven by strong domestic sales and exports across all vehicle categories.
HAL Q1FY25 net profit soars 77% to Rs 1,437 cr
New Delhi: India's Hindustan Aeronautics Ltd (HAL) reported a 77% surge in first-quarter profit, driven by strong realizations from aircraft manufacturing contracts.
WPI inflation eases to a 3-month low of 2.04% in July amid falling food prices
New Delhi: India's wholesale inflation, measured by the Wholesale Price Index (WPI), dropped to a three-month low of 2.04% in July, down from a 16-month high of 3.36% in June, largely due to a significant decrease in food prices.
Did his work-life balance POV cost Starbucks' Indian-origin head Laxman Narasimhan the job?
When multinational global coffeehouse chain Starbucks on Tuesday announced Chipotle Mexican Grill's head Brian Niccol as its new chairman and chief executive officer (CEO), replacing Indian-origin Laxman Narasimhan, the shake-up shifted the focus as much on the rapid firing of CEOs in the US in recent times as on views of a corporate honcho on work-life balance.
Hero MotoCorp Q1FY25: Standalone net profit of Rs 1,123 cr, up 36% YoY
Mumbai: Hero MotoCorp reported a standalone net profit of Rs 1,123 crore for the quarter ending June 30, 2024, on Tuesday, reflecting a 36% rise from the Rs 825 crore recorded in the same quarter the previous year.
Coal India removes limit on procurement for power generation units
Kolkata: State-owned miner Coal India Ltd (CIL) has removed all limits on the amount of coal power generation units can procure, allowing plants with fuel supply agreements (FSA) to acquire as much coal as needed.
Starbucks appoints Chipotle CEO Brian Niccol as new head, Laxman Narasimhan steps down
Seattle (US): Multinational chain of coffeehouses Starbucks on Tuesday announced Chipotle Mexican Grill's head Brian Niccol will be its new chairman and chief executive officer, replacing Laxman Narasimhan.
SBI plans to sell stake worth Rs 2.2 billion in Yes Bank by end of March 2025: Report
Mumbai: India’s largest lender the State Bank of India (SBI) plans to finalise a deal by the end of March to sell its 24 percent stake in Yes Bank, valued at Rs 18,420 crore (around $2.2 billion), Reuters reported.
Private lender Bandhan Bank offers up to 8.50 pct interest rates on FD
Private lender Bandhan Bank has announced a new bucket of 1 year 9 months at an attractive interest rate of 8.50%.
Truck rentals and used commercial vehicle prices surge in July; passenger vehicle prices drop: Report
Mumbai/Kolkata: After remaining tepid for two months, truck rentals across key trunk routes witnessed a rebound in July, according to a report.
Bajaj Finance in talks to borrow $500 million offshore borrowing
Mumbai: India's largest non-banking finance company by market value is planning to raise up to $500 million through offshore borrowing, Bloomberg reported, citing sources who requested anonymity due to the private nature of the talks.
India's weight on MSCI Global Standard index rises to record high
Mumbai/IBNS: India's weight on the MSCI Global Standard index has risen to another record high, which is likely to attract inflows of about $3 billion into its equity markets, reports Reuters.
Inox Wind bags 51 MW equipment supply order from Everrenew Energy
New Delhi/IBNS: Indian wind energy service provider Inox Wind Ltd has bagged a 51-megawatt (MW) equipment supply order from Chennai-based renewable energy company Everrenew, reports said.
India's retail inflation declines to near 5-year-low of 3.5% in July
New Delhi/IBNS: India’s inflation fell to a 59-month low of 3.5 percent in July 2024 compared with 5.1 percent in the previous quarter, as a favourbale base helped contain pressures, according to data released on Monday (August 12).
Bharti Enterprises' international arm to buy 24.5% stake in UK's BT Group worth $4 bn
London/IBNS: Bharti Televentures UK Ltd, a wholly owned subsidiary of Bharti Enterprises’s international investment arm Bharti Global, will buy a 24.5 percent stake in British Telecom (BT) Group Plc, the United Kingdom's largest mobile and broadband services provider, the companies said in a statement on Monday (August 12).
Tata Curvv EV bookings open today, deliveries to begin from August 23
Mumbai/IBNS: Tata Motors on Monday (August 12) officially launched bookings for its newly launched electric vehicle, Tata Curvv EV.
Ola Electric shares jump 20% on second day of trading amid strong demand
Mumbai/IBNS: Shares of recently listed Ola Electric Mobility jumped 20 percent to hit an upper circuit of Rs 109.44 apiece on Monday (August 12), extending gains for a second consecutive session.