BSES discoms BRPL and BYPL have facilitated the installation of around 2300 charging points in Delhi for electric vehicles (EVs) and are in the process to set up 900 more in the coming months, company's officials said on Tuesday. The 2300 charging points installed at over 900 locations across south, east, central and west Delhi [...]

E-commerce company Flipkart has set up eight supply chain facilities and 200 delivery hubs in Tamil Nadu under its initiative towards creating inclusive job opportunities besides boosting economic growth, the company said on Tuesday. The company has onboarded 15,000 kirana partners under its Kirana Delivery programme, which enables faster customer shipments and also creates an [...]

To bring transparency in expenses and curb mis-selling, markets regulator Sebi has asked alternative investment funds (AIFs) to provide an option of "direct plan" for investors and introduced a trail model for distribution commission. In addition, the regulator came out with guidelines with respect to excluding an investor from an investment of AIF. This came [...]

Delphi-TVS Technologies, a joint venture between diversified conglomerate TVS Group and auto-component major BorgWarner, has lined up investments worth about Rs 450 crore over the next three years to take up capital expansion plan at its manufacturing facility here. Delphi-TVS Technologies, which commenced production of common rail system in 2009 has reached milestone production of [...]

Apple will next week open its first retail store in India, in signs of importance the iPhone manufacturer attaches to the world's fastest growing smartphones market. The company will open its first official store in Mumbai on April 18 and the second in Delhi on April 20. The company at present sells its products in [...]

Small businesses focused fintech Ugro Capital on Tuesday said it will raise Rs 340 crore in equity capital through a preferential allotment and qualified institutional placement. The company said its board approved Rs 240 crore worth of shares to IFU (Investeringsfonden for Udviklingslande), a Danish sustainable development goals investment fund, on a preferential allotment basis. [...]

Beauty and skincare brand VLCC, now controlled by Global investment firm Carlyle, on Tuesday announced the appointment of Vikas Gupta as CEO with immediate effect. The leadership change comes after Carlyle, in December 2022 announced the acquisition of a majority stake in the homegrown firm, a company statement said. Vikas Gupta succeeds Jayant Khosla. Prior [...]

Japanese lender JICA has teamed up with Citibank to provide a USD 125 million funding line to domestic private sector lender Indusind Bank. Indusind will be utilising the co-finance funding for onlending to the agricultural sector in the country, as per an official statement issued on Tuesday. The funding includes a JPY 13 billion (approx [...]

Homegrown Jakson Green on Tuesday said it has bagged renewable energy projects totaling 1 GW of capacity in the domestic as well as international markets. The projects are to be set up through engineering, procurement and construction (EPC) mode for the customers in India, Africa and Middle East regions, Jakson Green said in a statement. [...]

German automaker Audi on Tuesday said it will increase the price of Q3 and Q3 Sportback by up to 1.6 per cent with effect from May 1, in order to offset the impact of increase in customs duty and input costs. The company has already increased the price of Q8 Celebration, RS5 and S5 by [...]

Air India on Monday said it has completed modernisation of its Enterprise Resource Planning (ERP) system that will bring improvements in various functions. According to a release, the airline has completed its ERP modernisation programme ahead of schedule by migrating from an on-premise legacy mainframe system to SAP Cloud, laying a strong foundation for its [...]

Frigidaire, a US-based consumer electronics manufacturer, has entered the Indian market in partnership with Ossify, a homegrown consumer electronics brand. Part of Electrolux group, Frigidaire has ventured into the Indian market with its range of home appliances in segments such as air conditioners, washing machines, refrigerators, freezers, etc. Frigidaire, an over 100 years old company, [...]

State-owned Punjab & Sind Bank on Monday announced the opening of 25 new branches across the country. With the opening of the new branches, the bank has now a total of 1,553 branches pan-India, Punjab & Sind Bank said in a statement. Considering the geographical spread, these 25 branches were inaugurated virtually from the bank's [...]

L&T Mutual Fund ceases to exist as a mutual fund, capital markets regulator Sebi said on Monday. This comes after L&T Mutual Fund Trustee Ltd had informed Sebi that it wanted to surrender the registration granted to L&T Mutual Fund (L&T MF) by the markets regulator pursuant to the approval of change in control of [...]

Drug major Cipla on Monday said it has inked a licensing pact with Novartis Pharma AG to manufacture and market Galvus range, used in the treatment of type 2 diabetes, from January 1, 2026. The Mumbai-based company has signed a perpetual license agreement with Novartis Pharma AG (Switzerland) to manufacture and market Galvus and Galvus [...]

Bajaj Finserv Mutual Fund, which received Sebi's clearance to begin the mutual fund operations last month, has filed draft documents with the markets regulator for launching seven schemes in equity, debt and hybrid spaces. The newest player has filed papers to launch mutual fund schemes -- liquid fund, money market fund, overnight fund, arbitrage fund, [...]

Cold chain solutions provider Celcius Logistics has raised Rs 100 crore in a funding round led by IvyCap Ventures, the company said on Monday. The startup had earlier raised Rs 35 crore from existing investors Mumbai Angels, Supply Chain Labs, Endurance Capital, VCats, Huddle, Eaglewings Ventures (EVAN), and others. The company aims to utilize the [...]

India's largest hospitality company Indian Hotels Company Ltd on Monday said it is well poised to achieve its vision of 300 hotels by 2025, from the current portfolio of 260 hotels. Indian Hotels Company Ltd (IHCL) said it accelerated portfolio expansion in FY 2022-23 which ended in March, with the signing of 36 new hotels [...]

Billionaire Gautam Adani's group on Monday listed out details of the USD 2.87 billion stake sales in group firms since 2019 and how USD 2.55 billion of this was ploughed back into business, as it looked to counter Congress leader Rahul Gandhi's claim of Rs 20,000 crore coming in to the conglomerate through 'shell companies'. [...]

Bajaj Auto Ltd and British bike maker Triumph Motorcycles on Monday said they have completed transfer of the latter's India sales and marketing operations to the Indian firm. The two companies would also be launching a jointly developed mid-sized range of bikes later this year. The development is part of the strategic partnership between the [...]

Multilateral funding agency ADB on Monday said it proposes to subscribe non-convertible debentures worth Rs 150 crore of Tata Power Delhi Distribution Ltd (TPDDL), to enhance Delhi’s power distribution through grid enhancements. Besides, Asian Development Bank (ADB) agreed to provide USD 2 million grant to partially finance the purchase and integration of a pilot battery [...]

Managed service provider The Executive Centre clocked a 24 per cent annual growth in revenue at USD 45 million during the last calendar year on rising demand for flexible workspace. Hong Kong-based The Executive Centre (TEC) entered India in 2008 with its first property in Mumbai. It currently has 40 centres, comprising about 15,000 desks [...]

In a move to strengthen its position as a leading player in the Asian food space, Speciality Restaurants Ltd is looking to clock a revenue of Rs 1,000 crore with technology intervention and brand refresh, a company official said on Monday. The multi-brand restaurant chain's standalone net profit in the first half of (April-September) FY'23 [...]

State-owned steel maker RINL is aiming to produce 55,000 wheels in the current financial year to meet the demand from Indian Railways, its CMD Atul Bhatt said. Visakhapatnam-based Rashtriya Ispat Nigam Ltd (RINL) has set up a forged wheel plant at Lalganj, in Uttar Pradesh at an estimated cost of Rs 2,350-crore with a capacity [...]

Sajjan Jindal-led JSW Group's business-to-business e-Commerce arm on Monday announced a Rs 205 crore fund raise from Japan's Mitsui & Co. The Series A funding, which is also the maiden capital raise from an institutional investor by JSW One Platforms, has been done at a valuation of Rs 2,750 crore, as per an official statement. [...]

Singapore-based investment firm Temasek will acquire an additional 41 per cent stake in Manipal Health Enterprises, to take majority control of the Bengaluru-based firm, as per a joint statement issued by the entities on Monday. The companies did not share financial details of the deal. Sources, however, said Temasek stake buyout would be for over [...]

The country's largest car maker Maruti Suzuki India aims to more than double its SUV sales this year and take the leadership position in the fast-growing segment with a market share of over 25 per cent, according to a senior company official. The auto major sold 2.02 lakh sports utility vehicles (SUVs) last financial year [...]

GAIL Gas Ltd, the city gas arm of the nation's largest gas firm GAIL (India) Ltd, on Sunday announced a reduction of up to Rs 7 in the prices of CNG and piped cooking gas following a reduction in input gas price. GAIL Gas cut the price of the gas that households received through piped [...]

Apollo Micro Systems Ltd (AMSL) has fixed May 4 as the record date to split its shares in ratio of 1:10. On March 28, the company's shareholders had approved a proposal for the share division through postal ballot, the company said in a statement. Subsequently, the board also passed the necessary resolution  on April 6, [...]

GCMMF, which sells dairy products under the Amul brand, is expecting 20 per cent growth in its revenue this fiscal to around Rs 66,000 crore on rising demand, its MD Jayen Mehta said. Gujarat Co-operative Milk Marketing Federation Ltd (GCMMF) registered a turnover of Rs 55,055 crore in 2022-23, up 18.5 per cent from the [...]

State-owned power giant NTPC on Sunday said its captive coal mines have registered 65 per cent year-on-year production growth to over 23 million tonnes in FY23. NTPC Ltd has recorded a coal production of 23.2 million tonnes in FY23, witnessing a 65 per cent growth against 14.02 million tonnes a year ago from its four [...]

SBI Foundation, the CSR arm of State Bank of India (SBI) on Sunday committed Rs 30 lakh as a grant to 8 ventures who work at the grassroot level to bring change in the lives of rural population. The selection for the grant is done on the basis of projects submitted by fellows of SBI [...]

Adani Power on Sunday said that it has begun supplying electricity from its plant in Godda in Jharkhand to Bangladesh. Adani Power Ltd (APL), a part of the diversified Adani Group, has commissioned the first 800 MW ultra-super-critical thermal power generation unit at Godda in Jharkhand. The plant has started with supplying 748 MW of [...]

HLL Infra Tech Services Ltd (HITES) has reported a 58 per cent jump in net profit to Rs 27.76 crore in 2022-23 compared to Rs 17.6 crore in FY22 on higher revenue from the infrastructure division, the Health Ministry said on Thursday. The total turnover of the central public sector undertaking under the Health Ministry [...]

Demand trajectory across urban and rural markets in India has shown a "slight improvement" sequentially in the March quarter, although it falls short of a full recover, FMCG major Dabur said. Despite near-term consumption pressure, some "green shoots" are emerging such as moderating inflation, improving consumer confidence and increase in government spending. "While urban markets [...]

Refractory player RHI Magnesita India has raised Rs 900 crore through qualified institutions placement, according to a company's top official. "We are pleased to announce a successful qualified institutional placement (QIP). This transaction demonstrates the support of high quality international and domestic institutional investors in the business and financial model of our company," the company's [...]

Vibrant Energy has tied up over Rs 2,200 crore of project financing from state-run Power Finance Corporation (PFC) to build 300 MWac wind-solar hybrid projects in Madhya Pradesh and Karnataka. Vibrant Energy (Vibrant), which develops corporate renewable energy solutions, in a statement said that the financing will stand out as one of the largest project [...]