JSW-GMR JV Purchases 2 Cricket Franchises for ₹400+ Cr
In a significant move that solidifies their position as a major player in the international cricket landscape, JSW-GMR Cricket, a joint venture between GMR and JSW businesses, has acquired controlling stakes in two overseas T20 franchises for a combined sum exceeding ₹400 crore. The venture has purchased the Pretoria Capitals franchise, a participant in the […]
IPC Warns on Nimesulide Painkiller Adverse Reactions
A recent safety alert issued by the Indian Pharmacopoeia Commission (IPC) has cast a spotlight on the commonly used painkiller Nimesulide. The IPC, the national body for setting drug standards in India, warns healthcare professionals and patients about potential adverse skin reactions associated with the medication. Nimesulide’s Uses and Potential Risks Nimesulide belongs to a […]
Mercedes-Benz Surpasses BMW in Luxury EV Segment
The race for dominance in India’s luxury electric vehicle (LEV) segment has intensified, with Mercedes-Benz overtaking its longtime rival BMW in the first quarter of 2024. Industry reports from Autocar Professional reveal that Mercedes-Benz sold over 350 EVs between January and March, significantly surpassing BMW’s sales of 211 units . This achievement marks a pivotal […]
L&T Infra Development Sold to Edelweiss Alt for Rs 6,000 Cr
Edelweiss Alternatives, a leading Indian alternative asset manager, has sealed the highly anticipated acquisition of L&T Infrastructure Development Projects Ltd (LTIDPL) for a whopping Rs 6,000 crore. This deal, first announced in December 2022, marks a significant stride forward for Edelweiss Alt’s presence in the Indian infrastructure sector. Acquisition Significantly Expands Edelweiss Alt’s Infrastructure Portfolio […]
Standard Chartered Bank Funds DCM Shriram with Rs 100 Cr
In a significant development for India’s clean energy sector, DCM Shriram Ltd. has secured a ₹100 crore sustainable finance loan from Standard Chartered Bank. This loan marks a major step forward for DCM Shriram’s environmental sustainability goals and will be used to fund the construction of a new compressed bio-gas (CBG) plant in Uttar Pradesh. […]
HDFC Bank’s HDB Financial: Japan’s MUFG Takes 20% Stake
In a move poised to reshape India’s financial services industry, Japan’s Bank of Tokyo-Mitsubishi UFJ (MUFG) is reportedly on the verge of acquiring a 20% stake in HDB Financial Services, a non-banking subsidiary of HDFC Bank. This strategic investment, valued at a significant $2 billion, marks a major development for both institutions and underscores the […]
Tira by Reliance Introduces Own Label, Steps into Beauty
Reliance Retail’s Tira Beauty continues its aggressive expansion strategy with the launch of its first private label brand, Tira Tools. Announced on April 11, 2024, Tira Tools signifies the beauty platform’s foray into the lucrative beauty accessories market, a segment projected to reach a staggering USD 5.5 billion by 2025 according to [Market Research Report]. […]
Maruti Suzuki Raises Swift, Grand Vitara Prices
In a move that might dampen consumer spirits, Maruti Suzuki, India’s car market leader, announced fresh price hikes for its popular Swift hatchback and select variants of the Grand Vitara SUV on April 10, 2024. This comes just three months after a company-wide price increase in January 2024, raising concerns about the affordability of these […]
Piramal Invests Rs 500 Cr in Puravankara
In a move that promises to reshape the landscape of Indian real estate, Piramal Enterprises, the Piramal Group’s flagship company, has announced a strategic investment of over Rs 500 crore in a carefully curated selection of projects undertaken by Bengaluru-based developer Puravankara Group. This collaboration signifies a major development, aiming to bolster Puravankara’s projects across […]
SBI, Standard Chartered Embrace New RBI Norms in CDS Trade
The Indian financial sector witnessed a watershed moment on April 4th, 2024, as the country’s leading lender, State Bank of India (SBI), joined forces with Standard Chartered Bank India to execute the first-ever Credit Default Swap (CDS) trade valued at ₹25 crore. This pioneering transaction serves as a tangible outcome of the Reserve Bank of […]