Jain Irrigation Systems on Thursday said it has completed the deal to merge global irrigation business with Temasek-owned Rivulis. In June last year, Jain Irrigation Systems Ltd had announced that its global irrigation business will be merged with Temasek-owned Rivulis in a cash-and-stock deal and the combined entity will have a revenue of USD 750 [...]
Water pumps company Shakti Pumps on Thursday said it has been assigned 'IND A' ratings by India Ratings and Research (Ind-Ra) with a stable outlook. The Madhya Pradesh-based company is a leader in the manufacturing of energy-efficient pumps and motors, including solar. In a regulatory filing, Shakti Pumps said, "India Ratings and Research (Ind-Ra) has [...]
PepsiCo India, through its brand Lay’s, on Thursday announced a crop and plot-level predictive intelligence model to help farmers with real-time tracking of the health of potato crop. Launched in collaboration with global agri-tech firm Cropin, the predictive and plot intelligence models are fine-tuned for specific crop varieties, conditions, and locations, it said in a [...]
Sansera Engineering on Thursday announced it has entered into a definitive agreement for strategic investment of Rs 20 crore in MMRFIC Technology. Sansera would make an investment of Rs 200 million (Rs 20 crore) in MMRFIC by way of 1,49,250 CCPS (Compulsory Convertible Preference Shares) of Rs 100 each with a premium of Rs 1,240 [...]
Mahindra Group's agritech business on Thursday launched an IoT-based aftermarket device Krish-e-Smart Kit for farm equipment. The device, developed by agri-tech startup Carnot Technologies, provides detailed insights into tractors and farm equipment through GPS-enabled time-tracking and remote monitoring of various parameters through a smartphone, the company said in a release. The startup was founded [...]
Insolvency appellate tribunal NCLAT has dismissed the plea of Jindal Stainless Ltd, one of the bidders for debt-ridden Mittal Corp, challenging the issuance of a fresh Request for Resolution Plan (RFRP) by the lenders. A two-member NCLAT bench observed the lenders of Mittal Corp were "empowered to issue fresh RFRP" when none of the resolution [...]
Tata Power on Thursday said it has re-appointed Praveer Sinha as the company's Chief Executive Officer (CEO) and Managing Director. His re-appointment to the top post is for a period of four years from May 1, 2023, to April 30, 2027, subject to the approval of the members of the company, Tata Power said in [...]
British carrier Virgin Atlantic has expanded its codeshare pact with budget airline IndiGo, offering new destinations to its customers pan-India, a statement said on Thursday. The two airlines had in August last year inked a codeshare partnership to help them expand their access to customers flying to the destinations serviced by them. In total, the [...]
Edtech firm Uncademy will lay off 12 per cent or about 350 employees amid a funding crunch as it strives to make the core business profitable, a top company official said. In an internal note, Unacademy co-founder and CEO Gaurav Munjal mentioned that a decision has been taken to meet the goals in the current [...]
Korean electronics major Samsung is planning to set up 15 premium experience stores across nine cities in India by the end of this year to increase the share of high-end products in total sales, a company official said on Thursday. Samsung India D2C business senior director Sumit Walia told PTI that the trigger for expansion [...]
