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Corporate

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Three Future Group companies report payment defaults

Jul 01, 2022

Future Lifestyle Fashions Ltd (FLFL), in a regulatory filing, reported a default of Rs 335.08 crore on the principal amount.

This was part of a broader crackdown by India on businesses with Chinese links amid worsening diplomatic relations.

General Motors calls off plan to sell India car plant to China's Great Wall

Jul 01, 2022

This will also send Great Wall back to the drawing board on its plans to enter India, which it considered an important part of its global strategy to break into new markets like Latin America, Thailand and Brazil.

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SEBI imposes Rs 36 lakh penalty on PGIM AMC, CEO Ajit Menon, 3 others

Jul 01, 2022

In its order, Sebi noted that five entities did not adhere to the provisions of the mutual fund regulations while executing ISTs between open and close-ended schemes of PGIM MF.

Government warns Ed-tech companies against unfair trade practices

Government warns Ed-tech companies against unfair trade practices

Jul 01, 2022

If self-regulation does not work, then the government will formulate stringent guidelines, warned Consumer Affairs Secretary.

The company, in terms of EVs, recorded its highest-ever monthly sales at 3,507 units in June 2022 as its Nexon EV Max, launched in May, witnessed strong demand.

Tata Motors reports 82% rise in domestic sales, EV sales up 433% in June

Jul 01, 2022

Indian automaker’s SUV portfolio contributed 68 per cent of Q1FY23 sales, while its electric vehicle (EV) sales reached new heights with sales of 9,283 in Q1 FY23.

Toyota’s new Urban Cruiser Hyryder

Toyota unveils its first compact SUV 'Urban Cruiser Hyryder' for India, bookings start

Jul 01, 2022

This new SUV, which has been built jointly with homegrown automaker Maruti Suzuki India, will be available in mild-hybrid as well as in strong-hybrid powertrain options.

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EXCLUSIVE: ONDC to give public access by August; first round of fundraising nearly complete

Jul 01, 2022

A UPI-type protocol, ONDC will enable discovery and shopping of products and services from partnering entities across the member applications on its network.

Amazon India signs 2 MoUs with UP govt to digitise local businesses, boost exports (Photo: Reuters)

Amazon India signs 2 MoUs with UP govt to digitise local businesses, boost exports

Jul 01, 2022

The company announced a number of key initiatives aimed at providing digital access to thousands of small businesses, entrepreneurs, traders, artisans, and weavers in Uttar Pradesh.

Will Reliance Industries bounce back after Friday’s 8% fall? Here’s what analysts have to say

Will Reliance Industries bounce back after Friday’s 8% fall? Here’s what analysts have to say

Jul 01, 2022

Shares of the company came under pressure on July 1 after the government imposed taxes on the export of petrol, diesel and jet fuel (ATF) shipped overseas by Indian firms.

Image Source: Hindujagroup.com

Ashok Leyland sees 130% rise in commercial vehicle sales in June

Jul 01, 2022

The company, in a public statement, also revealed that its total sales of medium & heavy commercial vehicles (M&HCVs) surged 255 per cent to 8,399 units in June 2022.

Concord Enviro Systems files IPO draft papers with SEBI for fundraise

Concord Enviro Systems files draft papers with SEBI to float IPO

Jul 01, 2022

Concord Enviro Systems is an integrated solutions provider for industrial wastewater reuse and zero liquid discharge solutions, with an in-house position across the value chain.

Swiggy initiates ESOP liquidity program worth $23 mn for employees

Swiggy initiates ESOP liquidity program worth $23 mn for employees

Jul 01, 2022

Swiggy has even rolled out a new program, called Build Your Own Dollar (BYOD), wherein Swiggy employees across the company can choose to invest in the firm's ESOPs.

Chandrasekharan informed that there are no plans to raise further capital by the company.

Hospitality industry outlook looks quite strong: Chandrasekaran at Indian Hotels AGM

Jun 30, 2022

"We are having an expansion plan. By 2025 we want to touch 300 properties," said Chandrasekaran.

CCI approves Google-Bharti Airtel deal

CCI approves Google-Bharti Airtel deal

Jun 30, 2022

Google International LLC and Airtel have entered into an investment agreement to buy a minority and non-controlling stake of 1.28 per cent of equity share capital in the telecom player.

Pret A Manger, French for ‘ready to eat' was first opened in London in 1986.

Reliance Brands to foray into food & beverage retail with UK chain Pret A Manger

Jun 30, 2022

At present Pret A Manger has 550 shops globally across 9 markets including the UK, US, Europe, and Asia, offering organic coffee, sandwiches, salads and wraps.

Ankiti Bose resigns from Zilingo board (Photo: Getty Image)

Ankiti Bose resigns from Zilingo board

Jun 30, 2022

Last month, the Singapore-based B2B fashion start-up had fired its Bose from the position of CEO over complaints of serious financial irregularities.

Hardip Singh Rai, CEO at THINK Gas, said this partnership with ABB will help to build the company into a modern and robust CGD company that is ready for the future.

ABB India to provide digital solution to maximise network efficiency

Jun 30, 2022

Hardip Singh Rai, CEO at THINK Gas, said this partnership with ABB will help to build the company into a modern and robust CGD company that is ready for the future.

McDonald’s India opens first all-women drive-thru restaurant near Statue of Unity

McDonald’s India opens first all-women drive-thru restaurant near Statue of Unity

Jun 30, 2022

To run this drive-thru restaurant, Westlife Development employed 28 women from nearby villages, said a statement issued by the franchise partner.

 "The shareholders decided that in the current situation it is not advisable to pay dividends based on the 2021 results," Deputy CEO Famil Sadygov said.

Gazprom to not pay dividends on last year’s results for first time since 1998, shares dive

Jun 30, 2022

"The shareholders decided that in the current situation it is not advisable to pay dividends based on the 2021 results," Deputy CEO Famil Sadygov said.

Founders of Zetwerk

Zetwerk acquires three firms to grow industrial operations for Rs 100 cr

Jun 30, 2022

''As we scale and expand further, we will look to add more homegrown manufacturing companies into our portfolio to grow our business,'' Zetwerk Manufacturing Businesses co-founder and CEO Amrit Acharya said.

Here are details about Ambani's three children who are expected to have greater say in India's biggest conglomerate valued at around $200 billion.

Ambani children at centre of leadership change at India's Reliance

Jun 30, 2022

The move is the first sign of change at Ambani's empire after the billionaire last year said his children would have significant roles in the business, adding Reliance was "in the process of effecting a momentous leadership transition."