Equitas Small Finance Bank (ESFB) on Wednesday said that the Reserve Bank of India has okayed its proposal to reappoint MD and CEO Vasudevan P N for one year. "We wish to inform that pursuant to the bank's application vide its letter dated May 23, 2022, RBI vide its letter dated June 15, 2022 has [...]
Two officials of Punjab cooperative federation Markfed have been dismissed from service over charges of embezzlement in wheat stock and involvement in other irregularities. Markfed's Managing Director Ramvir dismissed the two officials on Monday after an enquiry into the matter. The matter came to fore after physical verification of the stock at Guruharsahai branch office. [...]
Capital markets regulator Sebi on Wednesday sent notices to stock exchanges BSE and NSE asking them to pay over Rs 5 crore in a case related to Karvy Stock Broking Ltd (KSBL) and warned of attachment of assets and bank accounts if they fail to make the payment within 15 days. The notices came after [...]
Global apparel and jeanswear major Levi Strauss & Co on Wednesday announced the appointment of Amisha Jain as its new Senior Vice-President and Managing Director of South Asia-Middle East and Africa (SAMEA). Jain, who was CEO at Zivame - an intimate-wear brand, will be responsible for leading the company's operations in SAMEA and ensuring that [...]
The Adani Group has gained the most in terms of value in the six months to April 2022, with a 88.1 per cent jump to Rs 17.6 lakh crore, a report said on Wednesday. In comparison, billionaire Mukesh Ambani's Reliance Industries -- which houses nearly all its ventures -- saw a 13.4 per cent rise [...]
GE Energy Financial Services, an arm of GE, has acquired a 49 per cent stake in Continuum Green Energy's 148.5 megawatt Morjar onshore wind project in Gujarat for an undisclosed sum. This transaction marks GE EFS' first onshore wind equity investment in Gujarat through a structured preferred equity solution, the company said in a statement. [...]
B2B manufacturing startup Groyyo on Wednesday said it has raised USD 40 million (about Rs 310 crore) in a combination of equity and debt in its Series A round led by Tiger Global. The funding round also witnessed strong participation from early investor Alpha Wave Global. Existing investors Sparrow Capital and Stride Ventures, and angel [...]
JSW Steel crude steel production in May on a standalone basis jumped 31 per cent to 17.89 lakh tonnes, the company said on Wednesday. The crude steel output in May of FY'21 was 13.67 lakh tonnes. The flagship company of the USD 22 billion JSW Group stated that production of flat-rolled products also expanded by [...]
E-commerce logistics SaaS company Shiprocket has inked a deal to acquire a majority stake in its competitor e-commerce platform Pickrr for about USD 200 million (about Rs 1,560 crore) in a mix of cash and equity transaction, the firms said in a joint statement. Shiprocket and Pickrr cater to India's burgeoning D2C (direct-to-customer) sector, where [...]
Hero MotoCorp-backed electric two-wheeler maker Ather Energy is in talks with several state governments to set up a new manufacturing facility in the country, according to sources. The company is said to be in talks with officials of several state governments, including Andhra Pradesh, Maharashtra, Gujarat, Telangana and Karnataka, to set up an additional manufacturing [...]
