In a major consolidation move in the Indian courier industry, Delhivery has announced acquisition of it’s rival Ecomm Express. The deal is all cash of Rs 1,407 cr for 99.4% stake It is a distress sale for the struggling Gurgaon-based company that cancelled its IPO last year amid declining business. After Ecomm Express filed it’s … Read more
Adani Group chairman Gautam Adani, 62, plans to step down at the age of 70 and shift control to his sons and their cousins in the early 2030s, he told Bloomberg News in an interview published on Monday. When Adani retires, his four heirs – sons Karan and Jeet, and their cousins Pranav and Sagar … Read more
To tap the potential of the country’s air cargo sector, the focus should be on further improving processes as well as ensuring faster turnaround time, a senior government official said on Thursday. “The government is working on developing logistics hubs,” he added. Piyush Srivastava, Senior Economic Advisor at the Ministry of Civil Aviation, said that … Read more
With Narendra Modi-led National Democratic Alliance voted to power for the third consecutive term, the Adani Group is well-positioned to continue the economic and social programs that have driven “spectacular” journey over the last decade, Gautam Adani said at Adani Enterprises’ Annual General Meeting on Monday. “India is no longer at the crossroads of destiny … Read more
The targeted strikes by the US and the UK on Houthi militia have increased the worry for policymakers as the disruption around Red Sea has now begun to impact supply chains apart from making shipping schedules erratic. While the commerce department is working on an inter-ministerial consultation next week to address some of the concerns … Read more
Zomato has launched intra-city parcel delivery app Xtreme the service will allow merchants to send and receive small parcels within the city packages can weigh up to 10 kgs with the price starting at Rs 35 aim is to leverage Zomato’s existing fleet of 3lakh+ riders for additional revenue it will compete with Swiggy’s Genie, … Read more