Ranjan Pai Buys 40% Stake in Aakash Institute: Byju’s Lifeline?
Ranjan Pai, the chairman of Manipal Education and Medical Group, has bought a 40% stake in Aakash Institute, one of the largest test-prep businesses in India, owned by edtech giant Byju’s. The Aakash board has approved the conversion of Pai’s $300 million investment, made during 2023, into equity, valuing the company at around $700 million […]
Glenmark, Jiangsu Alphamab, 3D Medicines Sign Cancer Drug Pact
Glenmark Pharmaceuticals Ltd., a leading Indian drugmaker, has secured an exclusive license to develop and commercialize a novel cancer drug in several emerging markets. The drug, known as Envafolimab or KN035, is a subcutaneous injection of PD-L1 antibody that can be administered at home or in outpatient settings. Envafolimab is being developed by Jiangsu Alphamab […]
Airtel Surpasses Jio in Fixed Broadband Speed: Opensignal
According to Opensignal, an internet analytics company, Airtel Xstream broadband has outperformed JioFiber in terms of download speeds and quality of service for fixed broadband users in India. The report, based on data collected from December 2022 to February 2023, reveals that Airtel Xstream broadband is now ahead of JioFiber in the Broadband Download Speed […]
GSTN: Submit Bank Details in 30 Days to Avoid Suspension
The GST Network (GSTN) has issued an advisory to GST-registered businesses to furnish their bank account details within 30 days of grant of GST registration or before the due date of filing GSTR-1/IFF, whichever is earlier, to avoid suspension of their GSTIN. Why is it important to submit bank account details? According to the GST […]
ZEEL Fights Sony’s Merger Termination in NCLT Court
Zee Entertainment Enterprises Ltd (ZEEL) has filed a petition in the National Company Law Tribunal (NCLT) against Sony Group for terminating the merger deal between the two media giants. ZEEL has denied any breach of obligations and has contested Sony’s claim for a $90 million termination fee. ZEEL has also sought directions from the NCLT […]
Drone Startup Squadrone Partners with Geodia Industries
Bengaluru-based drone startup Squadrone Infra and Mining has announced a strategic partnership with Geodia Industries, a leading company in AI and ML-driven exploration technology. The collaboration aims to tap into the lucrative market of mineral exploration in India, Middle East, and South Asia, and to leverage state-of-the-art technology for sustainable development and innovation. Squadrone Infra […]
TVS’s Rs 1,000 Crore Investment in Capex
TVS Motor, the second largest two-wheeler maker in India, has announced that it will invest Rs 1,000 crore in capex for both electric vehicle (EV) and internal combustion engine (ICE) products in the financial year 2023-24. The company also plans to spend another Rs 1,000 crore on subsidies and acquisitions, including its premium motorcycle brand […]
CPCL and IIT-Madras Collaborate for Green Hydrogen Production
CPCL, a subsidiary of Indian Oil Corporation, has partnered with IIT-Madras to produce green hydrogen from seawater using renewable energy sources. The project aims to cover the entire value chain of hydrogen, from generation to utilization, and reduce India’s dependence on fossil fuels. Green hydrogen is a clean and sustainable alternative to conventional hydrogen, which […]
Madras High Court’s Clarification on GST for Gift Vouchers
The Madras High Court has clarified the GST implications of gift vouchers issued by Kalyan Jewellers. The court held that gift vouchers are actionable claims and not taxable unless they are for specified goods and value. Gift vouchers are popular instruments for gifting and purchasing goods and services. However, their taxability under the Goods and […]
Azim Premji Gifts Rs 500 Cr Worth Wipro Shares to Sons
Wipro founder Azim Premji has given 10.2 million shares, worth nearly Rs 500 crore, to his sons Rishad and Tariq, as per the stock exchange filing on Wednesday. The transaction does not alter the overall promoter and promoter group shareholding in the company, which remains the same. A generous gesture Azim Premji, who is known […]