Electric two-wheeler maker Okinawa Autotech on Wednesday said it will invest Rs 500 crore to set up a new manufacturing plant at Karoli in Rajasthan. Spread across 30 acres of land, the factory will have an annual production capacity of 10 lakh units and will be fully operational from October 2023, Okinawa Autotech said in [...]
Adani Enterprises and 10 other companies including offshore firms have expressed interest in bidding for coal import tenders floated by Coal India Limited, the public sector minor said on Tuesday. In a statement, the miner said it has held three pre-bid meetings with prospective coal importing agencies evincing interest in pitching in, in the three [...]
Debt-ridden Future Enterprises Ltd (FEL) has defaulted on payment of interest of Rs 6.07 crore for its non-convertible debentures. The due date for payment was June 20, 2022, said a regulatory filing from FEL. "The Company is unable to service its obligations in respect of the interest on Non-Convertible Debentures was due on June 20, [...]
Private sector lender South Indian Bank (SIB) is planning to raise up to Rs 2,500 crore to shore up its capital base for business growth and meet regulatory norms. The bank's shareholders had given approval for this fundraise in the previous AGM last fiscal, however, the bank did not raise the funds. A banking company [...]
CK Birla Group firm, Hindustan Motors Ltd on Tuesday said it has agreed to sell its 'Contessa' brand to SG Corporate Mobility Pvt Ltd for an undisclosed sum. The company has executed a brand transfer agreement with SG Corporate Mobility Pvt Ltd on June 16, 2022 for the transfer of the Contessa brand, including the [...]
It is not easy for an airline to operate in India and if the Tata Group cannot make Air India work, no one else in the country will be able to do so, Emirates President Tim Clark has said. “Air India should be as big as United Airlines. It should be as big because of [...]
Home appliance maker Whirlpool of India is expecting a better performance this fiscal after having a muted demand in FY22, as it sees green offshoots and a rebound in consumer sentiments, according to its Managing Director Vishal Bhola. In his address to shareholders in the latest annual report of the company, Bhola, however, said global uncertainties [...]
State-owned Oil and Natural Gas Corporation (ONGC) is seeking a minimum USD 17 price for the gas it plans to produce from coal seams in its Bokaro CBM block in Jharkhand. ONGC invited bids for the sale of 0.20 million standard cubic metres per day of gas it plans to produce from the Bokaro CBM [...]
Capital markets regulator Sebi has permitted mutual funds to again invest in foreign stocks within the aggregate mandated limit of USD 7 billion for the industry. This came in the wake of a major correction in global markets that brought down the valuation of international stocks. In January, Sebi had asked mutual fund houses to [...]
PwC India on Tuesday said it will acquire Bengaluru-based Venerate Solutions Private Limited, a salesforce consulting firm. PwC India, however, did not disclose the financial details of the acquisition. Upon completion of the acquisition, Venerate and its team of consultants and developers will integrate with PwC India's salesforce practice, said PWC India, adding this acquisition [...]
