BLS International Services on Wednesday said it has signed a memorandum of understanding (MOU) with Thailand to accept electronic visa-on-arrival (EVOA) applications for 17 countries. "This convergence of forces is expected to propel Thailand's tourism inflow steadily, with estimated 75,000-plus applications expected for the upcoming season," the city-based company said in a release. The company [...]

Blue Star aims to corner around 15 per cent share of the residential air conditioner market in terms of value as the cooling products maker expands its product portfolio and distribution network, its Managing Director B Thiagarajan said on Wednesday. The company is witnessing a pick up in the markets of West and South regions [...]

Infosys on Wednesday said it has extended collaboration with data and analytics company LexisNexis to provide information services across their range of content, enterprise and product applications. Infosys will provide LexisNexis end-to-end strategic IT services across multiple business domains that include their global content systems, global business systems and product development, according to a statement. [...]

Yes Bank on Wednesday said it has reported a credit growth of 11.3 per cent at Rs 2.01 lakh crore for the March 2023 quarter. The outstanding credit was Rs 1.81 lakh crore at the end of March 31, 2022, Yes Bank said in a regulatory filing. The lender registered a 12.9 per cent growth [...]

Beauty and fashion firm FSN E-Commerce Ventures, which operates under the Nykaa brand, is expecting over 30 per cent growth in revenue in the just-ended fiscal 2023, the company said on Wednesday. However, it has estimated subdued growth in the fashion business, due to consumers tightening their wallets on discretionary spending. "The Operating parameters for [...]

Digital financial services firm One97 Communications, which operates under the Paytm brand, has recorded 40 per cent growth in gross merchandise value on its platform to Rs 3.62 lakh crore in March 2023 quarter, the company said on Wednesday. The company had recorded a total GMV of Rs 2.59 lakh crore a year ago, Paytm [...]

Leading retailer Reliance Retail has roped in RS Sodhi, the former MD of Gujarat Cooperative Milk Marketing Federation Ltd (GCMMF) that markets its products under the Amul brand. Sodhi, a dairy industry veteran, will work with Reliance Retail's fruit and vegetable category of its Grocery division, said an industry source. His presence would help Reliance [...]

Goldman Sachs, which has funded the business and management education of 10,000 women in India, has claimed these beneficiaries have helped create around 12,000 new jobs as well as add Rs 2,800 crore in revenues to the country's economy in the past 18 months. The investment banking major first launched the graduation programme in the [...]

Tata Steel on Wednesday said its consolidated steel production rose by around 3 per cent to 7.77 million tonne during the January-March quarter. The company's total steel output was at 7.55 MT in the year-ago period, Tata Steel said in a regulatory filing. Tata Steel's total sales were 7.59 MT, down 3.43 per cent over [...]

Financial services firm Religare Enterprises on Wednesday said it will acquire Indian Express Group's insurance web aggregator MyInsuranceClub in an all-cash deal. The company said in a statement that it has signed a share purchase agreement for the proposed acquisition of MyInsuranceClub (MIC) from iGear Holdings Private Limited, part of The Indian Express Group. Religare [...]

SunSource Energy on Wednesday announced commissioning of a 9 MW solar project for Varun Beverages, PepsiCo's largest franchise bottler, in Uttar Pradesh. The project commissioned is part of its 45 MW open access solar project in the state, SunSource Energy said in a statement. "SunSource Energy commissions 9 MW DC solar open access project for [...]

Jakson Green has secured an order to set up a methanol synthesis facility at the NTPC's Vindhyachal Thermal Power Plant (VTPP) in Madhya Pradesh. In a statement, Jakson Group said, it will be "world's first methanol production plant in partnership with NTPC Ltd." Group company Jakson Green has won a project from NTPC to establish [...]

Reliance Retail on Wednesday entered into the beauty space with the launch of Tira, an omnichannel beauty retail platform. The country's leading retailer will now compete with the brands like HUL's Lakme, Nykka, Tata and LVMH's Sephora in India's growing beauty and personal care marketplace. Reliance Retail announced the launch of Tira, an omnichannel beauty [...]

State-owned Bank of Maharashtra (BoM) on Wednesday said it has posted a credit growth of 29.59 per cent at Rs 1.75 lakh crore for the March quarter. The outstanding credit was Rs 1.35 lakh crore at the end of March 31, 2022, BoM said in a regulatory filing. The Pune-headquartered lender registered a 21.28 growth [...]

Motilal Oswal Alternatives (MOA) on Wednesday said its investee company IKF Finance has raised Rs 250 crore in a funding round led by Accion's Digital Transformation Fund. The south-based non-bank lender has been operational since the 1990s and focuses on the commercial vehicle, small business and affordable housing segments. MOA had invested in the company [...]

Adar Poonawalla-controlled non-banking finance company Poonawalla Fincorp on Wednesday said its total disbursement grew 151 per cent year-on-year to record Rs 6,370 crore in the March 2023 quarter. Its assets under management (AUM) increased by 37 per cent year-on-year and 16 per cent quarter-on-quarter to about Rs 16,120 crore at March-end 2023, despite a sharp [...]

Fantasy sports segment revenue is expected to grow in the range of 30-35 per cent to Rs 2,900-3,100 crore during the ongoing IPL 2023 cricket tournament season over the last year, market research firm Redseer Strategy Consultants said on Wednesday. The data estimates show 6.5-7 crore users are expected to transact on gaming platforms. Redseer [...]

India Grid Trust on Wednesday said it has commissioned its first battery energy storage system (BESS) project coupled with its solar panels at the Dhule substation in Maharashtra. The project will meet the substation’s auxiliary consumption requirement, a company statement said. It will not only "reduce our emissions but also act as a prototype for [...]

Shares of Cyient on Wednesday jumped 5 per cent in the mid-session trade after the IT company rejigged its top management. The stock of the firm zoomed 5.07 per cent in the mid-session trade at Rs 1,045 apiece on the BSE. During the intra-day trade, the stock touched its 52-week high of Rs 1,049.80 per [...]

Bandhan Bank’s total deposits in the fourth quarter of last fiscal stood at Rs 1,08,069 crore, registering a rise of 12.2 per cent over the same period a year ago, the private lender said. Loans and advances during the quarter ended March 31 was at Rs 1,09,112 crore, reflecting a year-on-year growth of 9.8 per [...]

An employees' association of Rashtriya Ispat Nigam Ltd has requested the government to direct SAIL to submit an expression of interest for the new business model proposed by the steel PSU. Visakhapatnam-based Rashtriya Ispat Nigam Ltd (RINL) is exploring a business model wherein it will supply finished steel products to companies which will either fund [...]

Disney Star is continuing to sign up advertisers for the ongoing Tata IPL 2023, encouraged by the initial viewership of the T20 league on its television platform amid "unavoidable" competition from JioCinema which has the digital streaming rights, according to a senior company official. The company, which has the linear broadcast rights for Tata IPL, [...]

Three companies -- Cyient DLM, Healthvista India and Zaggle Prepaid Ocean Services -- have received Sebi's go- ahead to raise funds through initial public offering (IPO). The three companies, which filed their preliminary IPO papers with the regulator between July 2022 and January 2023, obtained its observation during March 29-31, an update with the Securities and [...]

Smartr Logistics is expecting to raise USD 30 million in Series A funding round by August this year to drive its aggressive expansion plans which include adding pin codes and services offering among others, a top company executive has said. The city-based company is also eying a more-than-two-fold growth in its topline at Rs 200-250 [...]

Amp Energy India on Wednesday said it has bagged 1 GW capacity for integrating cell and module manufacturing under the government's performance-linked incentive (PLI) scheme. Solar Energy Corporation of India Limited (SECI) is a nodal agency of the central government for auctioning renewable energy projects. In a statement, Amp Energy India said subsidiary company AMPIN [...]

Japanese auto major Honda Motor Co Ltd on Wednesday announced top management changes in its Indian two-wheeler arm with the appointment of Tsutsumu Otani as the President, CEO & Managing Director of Honda Motorcycle & Scooter India. Otani, also a Vice President at Honda Motor Co., Japan, will succeed Atsushi Ogata, who returns to Shanghai, [...]

The Bombay High Court on Wednesday continued till further orders an interim stay on show-cause notice and penalty demand issued to industrialist Anil Ambani by the Income Tax department under the Black Money Act. A division bench of Justices Gautam Patel and Neela Gokhale posted Ambani's petition challenging the notice and penalty demand for hearing [...]

Billionaire Gautam Adani's Adani Ports and Special Economic Zone Ltd (APSEZ) on Wednesday reported 9 per cent growth in cargo handling at seaports it operates for fiscal year ended March 31. At 339 million tonne, this is the largest port cargo ever, APSEZ said in a statement. The firm handled about 32 million tonne of [...]

The board of clean energy solution provider Suzlon Energy has appointed J P Chalasani as the company's Chief Executive Officer following the resignation of Ashwani Kumar from the post. Ashwani Kumar has resigned as the CEO with effect from 5th April 2023 on account of personal reasons, a BSE filing stated. The Board of Directors, [...]

Construction major Larsen & Toubro (L&T) on Wednesday said it has bagged multiple contracts of worth more than Rs 7,000 crore in the Middle East region. The scope of work comprises engineering, procurement, construction and installation for various new offshore facilities and integration with existing installations, L&T said in a statement. L&T wins "mega" contracts [...]

Electric mobility solutions provider Magenta on Wednesday said it has closed a Series A1 funding round with USD 22 million equity investment from the UK-headquartered bp and Morgan Stanley India Infrastructure-managed investment fund. The company plans to deploy the freshly raised capital in fleet and geographical expansion besides investing a part of the funds in [...]

INOX Air Products on Tuesday said it has signed an agreement with TP Saurya Bandita Ltd to set up a 40 MW captive solar plant at Dhule in Maharashtra. TP Saurya Bandita is a special-purpose vehicle of Tata Power Renewable Energy Ltd (TPREL). In a statement, INOX Air Products (INOXAP) said, "The power project with [...]

State-owned non-banking finance firm REC Ltd has raised USD 750 million through issuance of green bonds. The expected settlement date for these bonds is April 11, 2023. "REC Ltd under its USD 7 billion Global Medium Term Note Programme, has priced and issued USD 750,000,000; 5.625 per cent green bonds on April 3," according to [...]

Private sector Karur Vysya Bank has inked a pact with SBI Life Insurance to offer their insurance products to customers at its branches, the bank said on Tuesday. The Tamil Nadu-based bank offers a range of financial services through similar tie-ups with leading service providers. "In an attempt to offer a wider choice to customers [...]

Leading bakery foods company Britannia Industries on Tuesday announced an interim dividend of Rs 72 per equity share for FY 2022-23. The board of the company in its meeting held on Tuesday declared an interim dividend of 7200% i.e, Rs 72 per equity share of the face value of Re 1 each for 2022‐23, Britannia [...]

State-owned MOIL has registered a 6 per cent rise in its manganese ore production to 13.02 lakh tonnes (LT) in 2022-23. The company also utilised 14 per cent higher capital expenditure in the financial year that ended March 31 over 2021-22, the Ministry of Steel said in a statement. MOIL Ltd recorded its second-highest production [...]

Electronics company Samsung India has collaborated with Ministry of Electronics and IT, IIT Delhi and other entities for rolling out a national innovation competition "Solve for Tomorrow, the company said on Tuesday. The competition is open for youth in the age group of 16-22 years who can participate in the programme by submitting their innovative [...]

BALCO has entered into an agreement with Serentica Renewables India Private Ltd (SRIPL) to set up a special purpose vehicle to source hybrid renewable power for its aluminium operations in Chhattisgarh. Bharat Aluminium Company Ltd (BALCO) is a subsidiary of mining major Vedanta Ltd. "BALCO has entered into a Power Delivery Agreement (PDA) to source [...]

Barely days after signing a USD 3 billion financing in India's most widely syndicated loan, Reliance Industries Ltd and its unit Reliance Jio Infocomm have raised USD 2 billion add-on foreign currency facility at most competitive rates, sources said. The USD 3 billion financing closed on March 31 and the add on USD 2 billion [...]

Grasim Industries, the flagship company of the Aditya Birla Group, on Tuesday announced entering into three term loan agreements totalling Rs 5,000 crore to finance capital expenditure and repayment of existing loans. It has executed agreements for a secured loan of Rs 4,850 crore and two unsecured loans of Rs 70 crore and Rs 80 [...]

Microblogging platform Twitter has so far not revoked the legacy verified blue tick from most of the accounts that have not paid for subscribing 'Twitter Blue' service. However, some of the organisations in India shared that they have paid for the blue service to maintain the brand reputation on the microblogging platform. Twitter also replaced [...]

Welspun Enterprises Ltd (WEL) has appointed Kapil Maheshwari as CEO and executive director of its wholly-owned subsidiary Welspun New Energy Limited. Before joining Welspun, Maheshwari was part of Reliance Industries, where he was leading Renewable Energy and Green Hydrogen Ecosystem Development, a statement said. He comes with over 20 years of experience in solar PV, [...]

Housing finance company Aviom has raised USD 30 million (over Rs 246 crore) in a funding round through a mix of primary and secondary investments by Nuveen, a global investment manager. The company is focused on affordable housing sector and the funding will help in expanding its loan book and widen its operations to newer [...]

The government on Monday said Rs 414.24 crore has been paid to a total of 34,497 clients of Karvy Stock Broking Ltd (KSBL) from the National Stock Exchange's (NSE) investor protection fund till March 2023. In addition, NSE along with other market infrastructure institutions (MIIs) have also monetised the mutual fund distribution business of KSBL, and [...]

Billionaire Anil Agarwal's Vedanta Resources Ltd has debt servicing obligations of about USD 3 billion, including interest, in the current fiscal, S&P Global Ratings said on Monday, estimating that the natural resources company will likely have enough liquidity until December 2023. In a statement, S&P said Vedanta is close to securing about USD 1 billion [...]

Moneyboxx Finance, which provides business loans to micro entrepreneurs in smaller towns, on Monday said it has raised equity capital of Rs 24 crore by way of private placement from non-promoter investors. With this funding round, the company said it has raised capital of Rs 48.4 crore in 2022-23 (including warrants of Rs 3.36 crore) [...]

Axis Bank in partnership with Visa on Monday launched an app that will empower merchants to accept payments through various digital modes and also enable them to manage their day-to-day business digitally. The app 'Digital Dukaan' has been specifically designed to address business requirements such as accepting digital payments, inventory management and billing, among others, [...]

Global banking group Standard Chartered on Monday said it has closed an operating lease of five new Boeing 737 MAX 8 aircraft with domestic carrier Akasa Air. While the bank already provides Akasa Air with corporate banking solutions and services, this is the first aviation finance transaction with the airline, Standard Chartered said in a [...]

Nainital Bank, a subsidiary of public sector lender Bank of Baroda (BoB), on Monday said it has raised around Rs 100 crore through a rights issue to meet future capital requirements. BoB holds 98.57 per cent stake in Nainital Bank. The amount was raised on March 29, 2023, Nainital Bank said in a statement. Nainital [...]