Mahindra & Mahindra on Thursday said the Maharashtra government has approved its proposal to set up a Rs 10,000-crore electric vehicle plant in Pune under the state's industrial promotion scheme for EVs. The two sides signed an agreement to this effect at the World Economic Forum in Davos on Wednesday, M&M Ltd said in a [...]
State-owned engineering firm Bharat Heavy Electricals Ltd (BHEL) on Thursday said it has bagged an order worth Rs 300 crore to renovate and modernise (R&M) steam turbines at Ukai thermal power station in Gujarat. Valued at about Rs 300 crore, the order for renovation and modernisation of 200 MW Unit-3 and 210 MW Unit-5, has [...]
Toyota Kirloskar Motor on Thursday said Manasi Tata, daughter of late Vikram Kirloskar, will take over as its new Vice Chairperson with immediate effect. She will also take over as the Vice Chairperson of Toyota Kirloskar Auto parts (TKAP), Toyota Kirloskar Motor (TKM) said in a statement. "The resolution, passed in its board meeting, comes [...]
Vedanta's Cairn Oil & Gas on Thursday announced the appointment of Nick Walker as the new chief executive officer (CEO) of the company. In a statement, the company said the appointment is effective January 5. "Before this appointment, Walker was president and chief executive officer at Lundin Energy, one of the leading European independent E&P [...]
Walmart-owned digital payments app Phonepe on Thursday said it has raised USD 350 million at a valuation of USD 12 billion in a funding round led by private equity firm General Atlantic. "Marquee Global and Indian investors are also participating in the round," PhonePe said in a statement adding the investment marks the first tranche [...]
Maruti Suzuki India on Thursday said it has commenced exports of mid-sized sports utility vehicle Grand Vitara, with the first shipment on its way to Latin America. The country's leading carmaker and exporter aims to export the model to more than 60 countries across Latin America, Africa, Middle East, ASEAN and neighboring regions. "Supporting Government's [...]
ICICI Prudential Life Insurance is "very confident of crossing doubling the VNB target" by March on the back of a record jump in its high-margin protection business share and the resultant highest-ever margin it has booked in the just-concluded December quarter. The company reported a 23.2 per cent growth in the value of the new [...]
Microsoft will lay off 10,000 workers, about five per cent of its total workforce, its CEO Satya Nadella announced on Wednesday, terming it a hard choice that the tech giant had to make to remain a "consequential company" amid global economic uncertainties. Microsoft is the latest company after Facebook and Amazon to cut jobs as [...]
JSW Energy on Thursday said that its arm JSW Renew Energy Five has bagged two battery energy storage system projects totalling 500 MW/ 1,000 MW from Solar Energy Corporation of India (SECI). The company will be entitled to receive a fixed capacity charge of Rs 10.8 lakh per MW per month for twelve years, a [...]
Realty firm Mahindra Lifespace Developers Ltd on Wednesday said it has entered into society redevelopment business and has bagged two projects in Mumbai with a revenue potential of Rs 500 crore. In a regulatory filing, the company informed that it has been "selected as the preferred partner to redevelop two adjacent residential societies in Santacruz [...]
