Vodafone Idea Decides To Converse Debts Into Equity, Government Owns The Share
On Tuesday, Vodafone-Idea informed the exchanges about the decision of resolving debts and interests converting into government equity. The company decided to adjust the gross revenue dues by converting them into equity. This is a smart business move by Vodafone. Vi was under debt, which exceeded Rs 2 lakh crore, and tried methods to raise…
John David
RBI Normalises Liquidity After The Secondary Sales Of Securities
The Reserve Bank Of India recently sold sovereign securities worth rupees 1,435 crores in the secondary market, clearing the sign of liquidity mobilisation. Indian benchmark yields hit their highest level in the past two years, due to the sale of bonds in the recent auctions. Resulting in a rise of the 10-year-old bond yield of…
Home Appliances Face 5-10% Price Hike, Rise In Input Cost
The recent price hike is noticed in home appliances like AC, washing machine, and refrigerators This new year the CEAMA, have made an impact by raising the price of raw materials and a sudden increase in freight charges. Other home appliances will also witness inflation of 5 to 10 percent until march. Different companies came…
Reliance Retail Buys 25.8% Stakes in Dunzo Worth $240 Million
Reliance has picked 25.5% stakes worth $240 million in Dunzo – a Google-backed hyperlocal delivery startup, as the largest Indian retail chain expands to the instant commerce space. Dunzo is a six-year-old startup that operates an eponymous hyperlocal delivery service in seven cities of India including Delhi, Bengaluru, Gurugram, Pune, Chennai, Mumbai, and Hyderabad. Its…
Electric Vehicles Sales Grew By 240% in December 2021
India: A huge market of electric vehicles (EV) seen in December 2021, predicts that India is going to have a massive demand for electric vehicles in forthcoming years. As per reports shared by JMK Research and Analytics, more than 50,000 new electric vehicles were registered in December, 2021, which is 240% higher than in December…
Sanjay Bhargav Step Down From Elon Musk’s Starlink
Sanjay Bhargav was appointed as Country Director and chairman of the board for Starlink India in the month of October 2021. Earlier, Bhargav Announced a target to build 200,000 terminals across India. But was waiting for the government approval on the same. On 4th January Sanjay Bhargav got on Linkedin and wrote about his withdrawal…
Alka Mittal, Next Chairman and Managing Director at ONGC
Alka Mittal is appointed as the full-time chairman and managing director at Oil and Natural Gas Company (ONGC), announced by the company on January 3. With this charge, Alka has become the first woman ever to head ONGC as CMD. However, she is the temporary CMD and will hold the post for six months or…
TATA Motors Recorded Second Highest Sales in December 2021
TATA Motors Overtook Hyundai – the South Korean Carmaker and Recorded the Highest Sales in December 2021. Keep reading for full coverage. TATA Motors, one of India’s biggest and oldest industrial groups, overtook Hyundai and became the second-highest seller of passenger vehicles in the domestic market after decades in December 2021. Despite the second wave…
Lulu Announced to Invest ₹500 Crore In Food Plant in Greater Noida
Lulu, the UAE-based retail company, announced setting up its export-oriented food and agriculture-produce processing park in Greater Noida, Uttar Pradesh, with an initial investment of Rs. 500 crore. At a formal function held at Uttar Pradesh Chief Minister Yogi Adityanath’s office in Lucknow, 20 acres of land was handed over to Yusuffali M A, Lulu…
GlobalBees Joins Unicorn Club For its Thrasio-Like House of Brands
GlobalBees has joined the Unicorn club as the New Delhi headquarters firm to scale its Thrasio- like the house of Brands. Prem Invest, the investment firm controlled by Indian tycoon Azim Premji, led the nine-month-old startup’s Series B financing round, the young firm disclosed in a regulatory filing. Steadview Capital and existing investors ━ SoftBank…