Agritech startup Fyllo on Friday said it has raised USD 2 million (over Rs 15 crore) in a funding round led by Triveni Trust, Ninjacart and existing investor IAN. New investors, including Venture Catalysts, StarAgri, Kia Ora Ventures, Singularity Ventures and Mastermind Capital, also took part in the round, the company said in a statement. [...]
Brookfield Asset Management-based Pipeline Infrastructure Ltd has signed a pact with state-owned GAIL for jointly developing a hydrogen-based ecosystem in India. The MoU aims at collectively exploring the feasibility, desirability and viability of hydrogen as a source of energy and thus build a partnership between the companies, official sources said. Pipeline Infrastructure Limited (PIL) is [...]
Mortgage financier LIC Housing Finance (LIC HFL) on Friday increased interest rate on home loans by 20 basis points to 6.9 per cent, from 6.7 per cent, for select borrowers. For borrowers with CIBIL score of 700 and above, the rate hike has been limited to only 20 bps, LIC Housing Finance said in a [...]
Digital logistics startup Zipaworld Innovation on Friday said it is planning to raise USD 0.5 million (around Rs 3.8 crore) at a valuation of USD 14-million, in an early-stage round of investment from angel investors from the pharma and chemicals industry. The startup plans to harness the funds to mobilise and accelerate AI and ML-based [...]
Zydus Lifesciences on Friday said it has launched in India its Bempedoic acid drug under the Bemdac brand for treatment of uncontrolled levels of bad cholesterol. Bemdac (Bempedoic acid) is a new class of drug which is orally administered and offers a new line of treatment for patients suffering from uncontrolled levels of LDL-Cholesterol (LDL-c) [...]
The National Company Law Tribunal (NCLT) on Thursday gave time till June 6 to Future Retail Ltd (FRL) to file its reply on the insolvency petition filed by Bank of India, which told the tribunal that any delay in initiating the resolution process could jeopardise recovery of money lent to the firm. In April, Bank [...]
Debt-ridden telecom operator Vodafone Idea expects the government to complete conversion of around Rs 16,100 crore dues into 33 per cent stake in the company in the coming weeks, a top official of the firm said. During the company's earnings call, Vodafone Idea CEO Ravinder Takkar said as part of the telecom reforms package, the [...]
A promoter entity of automotive component supplier Mahindra CIE Automotive Ltd on Thursday bought the company's shares worth Rs 200 crore through an open market transaction. According to bulk deal data available with BSE, Participaciones Internacionales Autometal Dossociedad Limitada purchased 1,02,36,240 shares at an average price of Rs 195 apiece. This took the transaction value [...]
State-owned GAIL (India) Ltd will build one of India's largest proton exchange membrane (PEM) electrolyzer at Guna in Madhya Pradesh to produce green hydrogen by the end of 2023, as it looks to supplement its natural gas business with carbon-free fuel. In a statement, India's largest gas transporting and marketing firm said it has awarded [...]
Tata Sons on Thursday announced the appointment of Campbell Wilson as the Chief Executive Officer and Managing Director (MD) of Air India. The Air India board approved the appointment of Wilson subject to requisite regulatory approvals, the company said in a statement. Wilson, 50, is the CEO of Scoot, the wholly-owned low-cost subsidiary of Singapore [...]
