Indian media and entertainment sector is likely to grow 12-14 per cent to clock Rs 1.6 lakh crore revenue in FY24, rating agency Crisil said in a report. The revenue growth of the Indian media and entertainment (M&E) from advertising would be led by digital platforms, followed by TV and print, it added. "Ad revenue, [...]
Capital markets regulator Sebi has asked Oravel Stays Ltd, the parent company of travel-tech firm OYO, to refile the draft IPO papers with certain updates. The move might delay the Gurugram-based hospitality unicorn's initial public offering (IPO). OYO filed preliminary documents with the Securities and Exchange Board of India (Sebi) in September 2021 for a Rs [...]
Electric vehicle charger and lithium-ion battery maker Exicom on Tuesday said it signed an agreement with Hero Electric to supply its battery management systems. Under the agreement, Hero Electric intends to purchase 5 lakh units of Exicom BMS (Battery Management Systems) per annum, the company said in a statement. Exicom will provide intelligent BMS, built [...]
Telecom operator Bharti Airtel on Tuesday announced the launch of its 5G services in Indore. In a statement, the company said customers with 5G-enabled devices will experience high speed Airtel 5G Plus network at no extra cost until the rollout is more widespread. "Currently operational at Vijay Nagar, Rasoma chowk, Bombay Hospital Square, Radisson square, [...]
State-owned Convergence Energy Services Ltd, a wholly-owned subsidiary of Energy Efficiency Services Ltd (EESL), on Tuesday said the prices discovered for the 6,465 electric bus tender were 29 per cent lower than what it costs to operate diesel buses. This unified tender constitutes demand for electric buses from six Indian states & UTs – Delhi, [...]
Agrochemicals maker Safex Chemicals Ltd on Tuesday said it plans to invest Rs 100 crore in its new agri-tech arm, AgCare Technologies, in the next 3-4 years for launching an interactive tech platform and for setting up a manufacturing unit. Speaking to PTI, the company's Group Director Piyush Jindal said, "We are investing Rs 100 [...]
Society of Manufacturers of Electric Vehicles on Tuesday sought extension of subsidies for EVs under the FAME II scheme and also include light to heavy commercial vehicles in it to promote electric mobility. In its pre-Budget recommendations, the industry body also called for a uniform 5 per cent GST on spare parts for electric vehicles. [...]
State-owned Bank of Maharashtra (BoM) on Tuesday said it has posted a credit growth of 21.81 per cent to Rs 1.57 lakh crore for the third quarter ended December 2022. The outstanding credit was Rs 1.29 lakh crore at the end of December 31, 2021, BoM said in a regulatory filing. The bank's deposits aggregated [...]
The Indian economy and exports will be moderately impacted in 2023 by weak global demand and recession in large economies and to improve its current account, the country should aim at reducing energy import bill, economic think tank GTRI said on Tuesday. The Global Trade Research Initiative (GTRI) said that in 2022, India will pay [...]
Online food delivery platform Zomato Ltd said its Co-founder and Chief Technology Officer Gunjan Patidar resigned from the post on Monday. Patidar was one of the first few employees of Zomato and built the core tech systems for the company, it said in a regulatory filing. "Over the last ten plus years, he also nurtured [...]
