The Karnataka High Court on Monday extended the stay on the Enforcement Directorate's (ED) order of freezing Rs 5,551 crore in the bank accounts of Xiaomi India. Justice S G Pandit extended the stay till June 1, with the hearing of the case posted to that day. The ED froze Xiaomi's accounts on April 29 [...]
Maruti Suzuki India (MSI) on Monday said it will acquire an equity stake of 12.09 per cent in Sociograph Solutions Pvt Ltd (SSPL) for about Rs 2 crore. SSPL is an artificial intelligence (AI) software company that specialises in visual AI platform predominantly used to help enterprises improve sales experiences and improve efficiency in their [...]
Multi-channel automobile buying and selling platform, CarTrade Tech Ltd on Monday said it has entered into a strategic alliance with Cholamandalam Investment and Finance Co Ltd to offer easy and smart financing for used cars. Under the partnership, Cholamandalam Investment and Finance (Chola) will become the preferred financier for customers purchasing used vehicles from CarWale [...]
Divi's Laboratories on Monday said its consolidated net profit increased by 78 per cent to Rs 895 crore in the quarter ended on March 31, 2022. The drug maker had reported a net profit of Rs 502 crore in the January-March quarter of 2020-21 fiscal. Revenue from operations rose to Rs 2,518 crore for the [...]
Steel product prices -- which were continuously rising in the domestic market -- are expected to fall by 10-15 per cent due to duty-related measures taken by the government, industry body Engineering Export Promotion Council (EEPC) on Monday said. Reacting to the government's move to levy export duty on some steel items, EEPC India Chairman [...]
Tata Power and Tata Motors have collaborated to develop a 7 MWp solar rooftop project at the latter's passenger vehicle plant in Chikhali, Pune. This is the third phase of a joint 17 MWp on-site solar project developed by the two companies, of which 10 MWp has already been installed, a company statement said. The [...]
Prime Minister Narendra Modi on Monday met Softbank Corporation founder and CEO Masayoshi Son to discuss the Japanese investment firm's future participation in Indian technology, energy, finance and R&D sectors. "Further propelling Japanese investments in India...PM @narendramodi met Founder @SoftBank_Group Masayoshi Son and commended Softbank's role in India's startup sector," MEA spokesperson Arindam Bagchi tweeted. [...]
Prolonged high temperatures are credit negative for India, as that could exacerbate inflation and hurt growth, Moody's Investors Service said on Monday. Over the longer term, India's highly negative credit exposure to physical climate risks means its economic growth will likely become more volatile as it faces increasing, and more extreme incidences of climate-related shocks, [...]
JSW Group on Monday announced the appointment of Gaurav Sachdeva as CEO of its e-commerce venture JSW One Platforms. "Gaurav Sachdeva takes over the role of CEO at JSW One Platforms after his successful tenure at JSW Ventures, where he led venture capital investments for the fund," JSW Group said in a statement. JSW One [...]
Digital payments firm Paytm expects that the issue of RBI ban on its subsidiary Paytm Payments Bank to onboard new customers would be resolved in 3-5 months after the clearance by the banking regulator to the processes being put in place. Paytm group chief financial officer Madhur Deora told PTI on Sunday that the RBI [...]
