HUL May Discontinue Vanilla Ice Cream Business
Hindustan Unilever Limited (HUL), a household name synonymous with everyday FMCG products in India, might be looking to ditch the ice-cream business, according to a recent report. The report suggests that HUL’s ice-cream portfolio, which includes popular brands like Kwality Walls and Dollops, might not be churning out the kind of returns the company desires. […]
NCLAT Orders NHAI to Uphold IL&FS Agreement
The National Company Law Appellate Tribunal (NCLAT) has issued a reprieve for Baleshwar Kharagpur Expressway Ltd (BKEL), an entity belonging to the IL&FS Group. In a recent order, NCLAT directed the National Highways Authority of India (NHAI) to refrain from terminating BKEL’s concession agreement, estimated to be worth ₹1550 crore. This decision paves the way […]
Hero MotoCorp Receives Rs 605 Cr Tax Notice: I-T Dept
Two-wheeler giant Hero MotoCorp finds itself embroiled in a tax dispute with the Income Tax Department. On April 3, 2024, the company received assessment orders and demand notices totaling Rs 605 crore, including interest, for alleged tax discrepancies across six assessment years (AYs) between 2013-14 and 2019-20.expand_more Breaking Down the Tax Demand The Income Tax […]
RBI Sticks to Repo Rate: Seventh Unchanged Period
In a move closely watched by financial markets and businesses, the Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) decided to hold the key repo rate unchanged at 6.5% for the seventh consecutive time on April 5, 2024. This decision underscores the RBI’s unwavering commitment to reining in inflation and maintaining financial stability. Inflation […]
Tata Tech-BMW Alliance: Auto Software Solutions
The Indian automotive industry is set to hit the fast lane of software development with a groundbreaking joint venture between Tata Technologies and the BMW Group. This strategic alliance, announced in 2023, will see the creation of automotive software and IT development hubs in Chennai, Pune, and Bengaluru, India. These hubs aim to become a […]
PepsiCo’s Ujjain Investment: Game-Changer for Madhya Pradesh
In a landmark move for both PepsiCo India and Madhya Pradesh, the beverage giant announced a hefty investment of ₹1,266 crore to establish a state-of-the-art flavor manufacturing facility in Ujjain. Scheduled to be operational by the first quarter of 2026, this plant signifies a turning point for the local economy and PepsiCo’s commitment to India. […]
India to Construct First Commercial Crude Oil Storage
India is making a historic stride towards energy security with the construction of its first commercial crude oil strategic storage facility, boasting a massive capacity of 2.5 million tonnes. This initiative, led by the Indian Strategic Petroleum Reserves Limited (ISPRL), represents a significant shift from the existing model of solely government-controlled Strategic Petroleum Reserves (SPR). […]
PhonePe, Star Health: Transforming Insurance Access
A new dawn is breaking for health insurance accessibility in India. On April 3rd, 2024, Star Health Insurance, the country’s leading retail health insurer, and PhonePe, a prominent digital payments platform, announced a groundbreaking partnership. This collaboration aims to revolutionize the health insurance landscape by offering Star Health’s comprehensive plans through the user-friendly PhonePe app. […]
AU Small Finance Bank, Fincare SFB Merger Announced
The Indian financial landscape witnessed a historic shift on April 1, 2024, with the successful merger of AU Small Finance Bank (AU SFB) and Fincare Small Finance Bank (Fincare SFB). This first-of-its-kind consolidation in the small finance bank (SFB) space paves the way for a new industry leader. The merged entity boasts a customer base […]
SEBI Launches SCORES 2.0: Improving Investor Complaints
The Securities and Exchange Board of India (SEBI) recently unveiled a significant upgrade to its SCORES platform – SCORES 2.0. This revamped system aims to empower investors in the securities market by streamlining the complaint redressal process. Faster Resolutions and Streamlined Processes SCORES (SEBI Complaint Redress System) is an online portal designed for investors to […]