Depository of News

Koparo, founded during COVID-19 pandemic, raises seed funding of Rs 5.7 crore

Koparo is a direct-to-consumer brand that manufactures natural and sustainable products for home and personal hygiene.

Delhi’s Indira Gandhi International Airport to become ‘net zero carbon emission airport’ by 2030

Videh Kumar Jaipuriar, CEO of DIAL announced this in a video message displayed by the Airport Council International during the ‘Delivering the Net Zero Airport of the Future’ event at COP26

Ola elevates Balachandar N as Group Chief People Officer

An Ola spokesperson confirmed the development. Earlier this month, Ola had announced key leadership appointments across its financial services, electric mobility and vehicles sales businesses.

Maruti-Toyota inaugurate vehicle scrapping unit in Noida

The facility which can process one car in 200 minutes, is built at a cost of Rs 44 crore

Alembic Pharma gets final USFDA nod for generic formoterol fumarate inhalation solution

The approval for the abbreviated new drug application (ANDA) for formoterol fumarate inhalation solution is for 20 mcg/2 ml per unit-dose vial.

Adani Solar partners KSL Cleantech to expand market share in eastern, northeastern states

Adani Solar, the Adani Group’s solar manufacturing and EPC arm, on Tuesday announced the launch of its retail distribution business for India’s eastern and northeastern states with KSL Cleantech Ltd as the official channel partner for the two region

Employees of India#39;s Future Retail urge top court to clear asset sale in Amazon dispute

Future has its $3.4 billion deal to sell its retail assets to market leader Reliance Industries due to successful legal challenges by Amazon, which argues that Future violated some pre-existing contracts the two sides had struck, by deciding to sell its retai

Greaves Electric Mobility inaugurates its largest EV production facility at Ranipet, Tamil Nadu

The facility was inaugurated by Tamil Nadu Chief Minister M K Stalin and the state’s Minister for Industries, Thangam Thenarasu.

SpiceJet brings back Boeing 737 MAX aircraft onboard

SpiceJet#39;s fleet of 13 Max aircraft had not operated any commercial flight since March 2019 when the plane was grounded worldwide.

Unicommerce to invest $5 million towards international expansion

The software-as-a-service provider has already acquired over 25 new clients in the multiple markets of the Middle East and Southeast Asia such as Dubai, KSA, Kuwait, Singapore, Philippines, Malaysia etc.

Tech company UST to hire 6,000 employees for Bengaluru centre in 2 years

"In line with the company’s accelerated growth strategy, UST Bengaluru centre plans to double the number of employees to 12,000 by 2023”, it said in a statement.

LatentView listing | Bootstrapped, profitable, under the radar: How Venkat Viswanathan built this Chennai-based Analytics firm

LatentView listed on the Indian stock exchanges on November 23, 2021 and had a bumper opening with stocks trading at Rs 512.20, from IPO price that was fixed between Rs 190-197.

Vedanta promoters look to increase stake by up to 4.57% for Rs 5,950 crore: Report

JP Morgan is acting as broker to Vedanta Netherlands Investments BV and Twin Star Holdings

Petrol, diesel prices on November 23: Fuel rates unchanged for 19th straight day

In Mumbai, the petrol price remained unchanged and retailed at Rs 109.98 a litre.

Japan, India working on oil-stock release with US, timing unclear: Sources

Japan, the world’s fourth-biggest oil buyer, is restricted on how it can act with its reserves – made up of both private and public stocks – which typically can only be used in times of shortage.

Moneycontrol Pro Panorama | Is investor allure for startups dimming already?

In today’s edition of Moneycontrol Pro Panorama:  Global debt Black Hole, the faltering farm reforms, oil flexes muscles, why Repco Home clicks and more

Covid-19 delivers body blow to new hotel projects

Hospitality projects have been delayed, deferred or put on hold across the board. In 2020, just 4,537 keys entered the branded hotel space, far lower than the pre-pandemic projection of 15,000 keys.

IFTA 2021: Here are 28 high potential fintech startups

The Forum received over 800 applications from Australia, Germany, Hungary, India, Israel, Peru, Netherlands, Singapore, Sweden, UAE, UK, the US and Vietnam for the IFTA Fintech Startup of the Year award. Winners will be announced on November 25

Indian consortium considering oil projects in Russia’s Rosneft

The consortium of ONGC Videsh, Indian Oil Corporation and Oil India is also looking at buying a stake in Novatek, which owns 60 percent in liquefied natural gas project Arctic LNG-2, a report has said

Bharti Airtel raises mobile tariffs, prepaid rates up 20-25% from November 26

Airtel said the revised tariffs will “enable substantial investments required in networks and spectrum and more importantly give Airtel the elbow room to roll out 5G in India”

MC Insider: Life after Paytm’s flop listing, IPO buzz, crypto tizzy, unusual travel deal and more

Hush-hush tales from the world of stock markets, banking, corporate world and corridors of power

Clubhouse ropes in former TikTok executive Parijat Kaushik as its first India hire

This is the first country-specific appointment by the social audio startup outside the US and Parijat Kaushik will be responsible for scaling Clubhouse#39;s operations in India

Airtel announces revised mobile tariffs, prepaid rates up 20-25% from November 26

Airtel said the revised tariffs will “enable substantial investments required in networks and spectrum and more importantly give Airtel the elbow room to roll out 5G in India”

Anand Mahindra blasts #39;fake#39; online quotes again, warns of legal action

This is the third time Anand Mahindra has used Twitter to directly disapprove quotes attributed to him.

Vulnerability in PNB server exposed customer data for about seven months: CyberX9

Cyber security firm CyberX9 has claimed that the vulnerability provided access to the entire digital banking system of PNB with administrative control

Zydus Cadila gets USFDA nod to market generic cancer drug in US

The company has received final approval from the US Food and Drug Administration (USFDA) to Decitabine for Injection in the strength of 50 mg/vial single-dose vial, Zydus Cadila said in a statement.

Laurus Labs acquires 26.62% stake in ImmunoACT for Rs 46 crore

Additionally, Laurus Labs#39; senior management will also invest in ImmunoACT for a 5.64 percent stake for approximately Rs 9.75 crore at the same price and terms, the company said in a BSE filing

Moneycontrol Pro Weekender | Unicorns and other fabulous beasts

The Paytm listing episode raises questions about the ability of fintech companies to match up to the soaring investor expectations

GST on apparel, textiles and footwear up from 5% to 12%, effective January

The GST hike was notified by the Central Board of Indirect Taxes and Customs (CBIC) on November 18

IBM bets big on India, to open more software development centres

On a visit to India, Krishna met Finance Minister Nirmala Sitharaman, Telecom Minister Ashwini Vaishnaw and Minister of State for IT Rajeev Chandrasekhar to discuss deeper collaboration including skilling and workforce development.

Amazon India inks collaborations to empower women entrepreneurs

These organisations include Jharkhand State Livelihood Promotion Society (JSLPS), Uttar Pradesh State Rural Livelihood Mission (UPSRLM), Chhattisgarh State Forest Department (CG Forest) and Assam Rural Infrastructure and Agricultural Services (ARIAS).

Skies darken for Indian IPOs after Paytm#39;s disappointing debut

Indian companies have raised a staggering $9.7 billion through initial share sales in the first nine months of 2021, for the highest such tally in any of the corresponding periods of the last two decades, said accountants EY.

European stocks slide as lockdown worries resurface

The pan-European STOXX 600 index fell 0.3 percent after hovering near record highs earlier in the session.

15 states have rolled out BH-series so far for seamless transfer of vehicles across India: Road Secretary

The government in August had notified a new vehicle registration regime that will free vehicle owners from the re-registration process when they shift from one state or Union territory to another.

PM Modi to inaugurate #39;InFinity Forum#39; on fintech on December 3

The event is being hosted by the International Financial Services Centres Authority (IFSCA) under the aegis of Government of India (GoI) in collaboration with GIFT City and Bloomberg on December 3 and 4, 2021, in virtual mode.

Business in the Week Ahead (November 22-26, 2021)

Flash PMIs for November will be released. Two IPOs will debut on the stock markets while the board of Siemens will meet to consider financial results

Containers seized at Mundra port on concerns of carrying hazardous cargo: APSEZ

The seized hazardous cargo containers were en route from Karachi in Pakistan to Shanghai in China, and the containers were not destined for Mundra Port.

Route Mobile Ltd raises Rs 867 crore via QIP

The QIP saw interest from a mix of international and domestic investors and several existing and new shareholders participated in the QIP, a statement said.

Mercedes-Benz launches compact car model priced at Rs 79.5 lakh

The car is powered by a 2-litre turbocharged engine, producing 421 hp and can accelerate from 0-100 kmph in 3.9 seconds and has a top speed of 270 km/hr, Mercedes-Benz India said in a statement.

Sundaram Asset Management receives SEBI#39;s nod for purchase of Principal AMC in India

"The transaction is subject to compliance with SEBI prescribed processes and fulfillment of mutually agreed conditions precedent to deal closure. As per regulatory requirements, there will be an ‘exit load free window’ for investors to redeem their
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