Insurance Sector Sees Rs 54,000 Cr FDI Surge in 9 Years
The Indian insurance sector has transformed into a powerhouse, driven by a tidal wave of foreign direct investment (FDI). Over the past nine years (December 2014 – January 2024), the sector has garnered a staggering Rs 54,000 crore in FDI, according to Financial Services Secretary Vivek Joshi. This impressive investment surge coincides with a remarkable […]
YES Bank Joins Indian Olympic Association for Paris Olympics
YES Bank has ignited a wave of national pride by securing the coveted title of Official Banking Partner for Team India at the upcoming Paris Olympics 2024. This strategic partnership, announced on February 19, 2024, marks a significant milestone for both the bank and the Indian Olympic Association (IOA). A Multifaceted Approach to Empowering Athletes […]
Ranbir Kapoor Joins Asian Granito as Brand Ambassador
In a move that is sure to generate buzz, leading Indian tiles and bathware brand Asian Granito has signed Bollywood superstar Ranbir Kapoor as their brand ambassador. This strategic partnership signifies the company’s intent to strengthen its brand identity and target a younger demographic. Kapoor, known for his impeccable style and association with contemporary roles, […]
Zomato Cancels Green Uniform for Pure Veg Fleet
In a surprising move, online food delivery giant Zomato has backtracked on its decision to introduce green uniforms for its “Pure Veg Fleet.” The change comes after the company faced a social media firestorm for creating a two-tiered delivery system based on vegetarian preferences. Earlier this week, Zomato announced the launch of a “Pure Veg […]
Unilever to Divest Ice Cream Unit, Lay off 7,500 Staff
Unilever, the consumer goods conglomerate behind household brands like Dove soap and Knorr soup, announced a significant strategic restructuring plan on Tuesday. The company will establish a separate entity for its entire ice cream division, encompassing popular labels like Ben & Jerry’s and Magnum. This move coincides with a cost-saving initiative that will result in […]
Tata Steel Board Sanctions Rs 2700 Cr NCDs Fund Raise
Tata Steel, a leading global steel producer with a market capitalization of Rs 1.2 lakh crore (as of March 19, 2024), has announced its board’s approval to raise Rs 2,700 crore through the issuance of non-convertible debentures (NCDs). This strategic debt financing move comes after similar fundraising activities undertaken by the company in the past […]
Jio Financial Services Invests ₹40 Cr in JLSL Leasing
Jio Financial Services, the financial arm of Reliance Industries, has sent ripples through the Indian leasing sector with a well-timed investment. On March 19, 2024, the company announced a Rs 40 crore infusion into its wholly-owned subsidiary, Jio Leasing Services Ltd (JLSL). This strategic move signals Jio Financial Services’ intent to become a key player […]
Lloyd Targets 50% Growth in Mass Premium Market
Havells’ consumer durables brand, Lloyd, is charting a course for significant growth in the Indian market by strategically prioritizing the mass premium segment. The company anticipates this strategic move to be a game-changer, propelling the mass premium segment to contribute a remarkable 50% to its overall growth trajectory in the coming years. Capturing the Value-Conscious […]
Onion Export Ban Removal Demanded by Farmers
Indian onion farmers are anxiously awaiting a decision from the government regarding the removal of the export ban currently in place. The ban, implemented in December 2023, aimed to curb skyrocketing onion prices that had reached a retail inflation rate of 22.1% in February 2024. However, with the arrival of the rabi onion harvest, the […]
BPCL, BP Sign 4-Month US Oil Purchase Agreement
India’s state-owned Bharat Petroleum Corporation Limited (BPCL) has signed a significant agreement with British multinational oil and gas giant BP. The deal entails the purchase of 1 million barrels of US West Texas Intermediate (WTI) crude oil per month, for a four-month period starting from June 2024. This translates to a total import of 4 […]