ICICI bank calls it – interoperable app What is it? In general you can not use any bank’s app if you are not it’s customer. Every bank asks the user to login before using. ICICI decided to do away with it last year, did a soft launch in December 2020 and a full launch in … Read more
When everyone is going aggressive on Electric Vehicles (EVs), Maruti Suzuki India (MSI) continues to focus greater and greater on CNG cars. It expects it’s CNG car sales to almost double this fiscal year over 2020-21. Key points to note – Around 1.9 lakh CNG cars were sold in the country in FY 21 with … Read more
Zomato along with it’s Q2 FY 22 results also announced that it has committed $275 mn across four start-ups in the last 6 months and will deploy another $1 billion over the next one to two years. Four investments of $275 mn – $100 mn for 9.3% stake in Grofers $50 mn in Curefit along … Read more
Currently Inox group is run by the 3rd generation of promoters – Brothers Pavan Jain (70) and Vivek Jain (66). Brothers have reached an amicable family settlement. Pavan Jain gets the control of – Inox Leisure – listed, movie theater business Inox Air Products – unlisted, industrial and medical gases manufacturer Inox India – unlisted, … Read more
The Company has denied allegations of a whistleblower on undue advantage to the promoters at Company’s expense and provided the necessary clarifications. The allegation – Reports surfaced in media that a whistleblower has made a complaint that Asian Paints (APL) entered into a transaction with one of it’s ex-employees Jayram Nadkarni and the company founded … Read more
Vishal Kampani, son of Nimesh Kampani (Indian securities market veteran) decides not to seek re-appointment as MD of JM Financial (JMF) and instead decides to take the position of Non-Executive Vice Chairman w.e.f. October 1, 2021. Key points to note – Kampanis (promoter family) own 54.75% of JMF. Decision to give up MD post is … Read more
Shapoorji Pallonji Group has decided to sell Eureka Forbes business to the Private Equity (PE) giant, valuing business at Rs 4,400 crore. Eureka Forbes is a 100% subsidiary of the listed group entity Forbes & Co (Forbes). Structuring of the transaction is very interesting – Normally, in such transactions, the holding company (Forbes in this … Read more
The intimation for the same was made by Gaurav through an email to Company employees. Zomato founder and CEO Deepinder Goyal confirmed it on twitter. Reason mentioned – “taking a new turn in life and start a new chapter” Key points to note – Gaurav had joined Zomato only 6 years ago in 2015 and … Read more
Proxy advisory firm Institutional Investor Advisory Services’s (IiAS) recommendation to vote against a resolution to reappoint 31-year-old Rama Kirloskar to the board of (KBL) and also her appointment as joint managing director triggered a war of words between her father Sanjay Kirloskar (Chairman of the Company), and the proxy advisory firm through series of emails. … Read more