Patanjali Apologizes Day After Ramdev SC Summons
In a surprising turn of events, Patanjali Ayurved, the Indian consumer goods giant with a reported ₹45,000 crore annual revenue (FY 2022-23), submitted an affidavit to the Supreme Court on March 20th, 2024, expressing regret for its advertising practices. Acharya Balkrishna, the company’s managing director, took full responsibility for the misleading claims about the medicinal […]
PB Fintech Initiates Payment Aggregator Division
In a move set to ripple through the Indian fintech industry, PB Fintech, the company behind insurance comparison platform PolicyBazaar, announced its ambitious entry into the payment aggregator sector on March 20th, 2024. The company will establish a wholly-owned subsidiary named PB Pay Private Limited, signaling its intent to become a one-stop shop for financial […]
NBCC (India) Secures $30M Saudi Project via MEA
NBCC Wins Prestigious $30 Million Saudi Arabia Construction Contract Indian construction giant NBCC (India) Ltd. has secured a prestigious project in Saudi Arabia, marking a significant milestone in their International Construction Projects strategy. The company was awarded a hefty $30 million (approximately Rs 249 crore) contract by the Kingdom’s Ministry of Education (MEA), showcasing NBCC’s […]
NCLAT: PSBs Restricted in Actions Against IL&FS Board
In a significant development for Infrastructure Leasing & Financial Services (IL&FS), the National Company Law Appellate Tribunal (NCLAT) has issued a much-needed reprieve. The tribunal has directed 11 public sector banks (PSBs) to refrain from taking any coercive action against the company and its board. This decision comes as a welcome respite for IL&FS, which […]
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 […]