Ola has commenced same-day registration and delivery of its 4680 Bharat Cell powered vehicles in Bangalore. Customers can now complete their purchase online or at an Ola Electric Store and ride home on their fully registered vehicles on the same day (Hyperdelivery). Ola’s same-day delivery likely runs via dealer-point registration on VAHAN 4.0 (India’s centralized … Read more
The parent of Nestle India, Nestle SA has acquired a minority stake in Indian pet food brand ‘Drools‘. Founded in 2010, Drools distributes its products across over 40,000 retail outlets and exports to 22 countries. It operates six manufacturing units and has a warehousing footprint of 1.6 million sq. ft. Drools had raised $60 mn … Read more
The Company has informed that it is not being considered favorably by the Income Tax Department (ITD) for the next round of RFP selection process for PAN 2.0 project. This obviously came as a major shock to the investors given Protean’s significant reliance on the PAN related revenues; 55% contribution to the revenues in FY … Read more
CARE has got feedback from Gensol’s lenders that there have been delays in the servicing of term loan obligation and hence the downgrade from BB+ to D. Company had an outstanding debt of Rs 1,150 cr as at December 31, 2024. It had negative operating cash flows during FY 24. During the current year, the … Read more
In a significant decision, United Breweries (UBL) has suspended supply of it’s beer to Telangana Beverages Corporation Limited (TGBCL) with immediate effect. (TBCL is a public sector company that controls the sale of alcohol in Telangana. It has a monopoly on the wholesale and retail sale of alcohol in the state, including IMFL and beer) … Read more
The impacted Company is VA Tech Wabag. The order pertains to the proposed 300 mega liters per day seawater desalination plant in Yanbu, Kingdom of Saudi Arabia. VA Tech Wabag said the client notified tender participants this week that the said tender stands cancelled due to some internal administrative procedures. “We are currently in touch … Read more
Reliance in recent years has announced big ambitions in the renewable space. In continuation of the same, it has now showcased it’s swappable and multipurpose battery storage technology for electric vehicles (EVs). As part of the plan, RIL has developed a removable lithium-ion battery that can power an electric scooter, electric three-wheeler and a light … Read more
In a surprise announcement, Balaji Amines informed the following – All five independent directors of the Company – Mr. Naveena Thammishetty Chandra, Mr. Kashinath Revappa Dhole, Mr. Satyanarayana Murthy Chavali, Mr. Amarender Reddy Minupuri and Mrs. Vimala Behram Madon have resigned as Independent Directors of the Company from the closing hours on 20th May, 2023; … Read more
As per newspaper reports, Tata group has offered to acquire stake in Bisleri. There is no information on the quantum of stake that Tatas have offered to acquire currently. However, as per the said report, Tatas are very keen on this business and eventually they want to scale their stake up. Given that Bisleri is … Read more