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 [...]
Indian-American business leader Ajay Banga is poised to become the next President of the World Bank which on Thursday said he is the sole nominee for the post as no other candidates were nominated. The World Bank's Board of Executive Directors will interview Banga before he is formally appointed. In February, President Joe Biden announced [...]
Welspun Group on Thursday said it has acquired water tank maker Sintex for Rs 1,251 crore to expand its building material portfolio. In a statement, Welspun Group said Sintex has been a household name in India for decades for water tanks and other plastic products. It has a strong distribution network across India. "With its [...]
The country's largest two-wheeler maker Hero MotoCorp on Thursday said it has elevated Niranjan Gupta as the new Chief Executive Officer (CEO). Gupta, currently designated as Chief Financial Officer (CFO), Head - Strategy and M&A, takes over as the CEO with effect from May 1, 2023. The company's board has appointed Gupta as the new [...]
The Assam government disbursed Rs 63.05 crore as a financial incentive to 370 tea gardens in the state to help them mitigate the adverse impact of the pandemic. Chief Minister Himanta Biswa Sarma said the tea industry was the backbone of the state's economy, making up nearly 90 per cent of its gross export value, [...]
