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 […]
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 […]
Annapurna Finance Sells 10.4% Stake to Piramal Enterprises
Piramal Enterprises Ltd, the financial services arm of the Piramal Group, has announced that its wholly-owned subsidiary Piramal Alternatives Trust (PAT) will acquire a 10.4% stake in Annapurna Finance Pvt Ltd (AFPL) for Rs 300 crore. The deal will be done through a combination of purchase of equity shares and subscription to optionally convertible debentures. […]
SoftBank Sells Additional 2% Stake in Paytm
SoftBank, the Japanese investment giant, has sold an additional 2% stake in Paytm’s parent company One97 Communications over the last month through open market operations, according to media reports. The investor has reduced its stake in the fintech giant from 13.24% at the beginning of FY24 to just a little over 5%, earning about Rs […]
CCI Approves Burman’s Stake in Religare
The Competition Commission of India (CCI) has given the green light to the Burman family, the promoters of Dabur India, to acquire a majority stake in Religare Enterprises, a financial services company. The deal involves open market purchases and an open offer for up to 53.94% of the total share capital of Religare. Religare Enterprises […]
CCI Approves Tata’s Acquisition of Wistron Infocomm
Tata Electronics, a venture of Tata Sons, has acquired 100% of Wistron Infocomm Manufacturing (India), an iPhone supplier, with the approval of the Competition Commission of India (CCI). This deal will boost Tata’s presence in the smartphone manufacturing sector and strengthen its partnership with Apple. Introduction Tata Electronics, a greenfield venture of Tata Sons Private […]
JSW’s 38% Stake in MG Motor: Approved by Competition Commission of India
The Competition Commission of India (CCI) has cleared the proposed acquisition of up to 38% stake in MG Motor India by JSW Ventures Singapore, a subsidiary of JSW International Tradecorp and part of JSW Group. The deal is expected to boost the growth prospects of MG Motor India, which is engaged in the manufacturing and […]
Infosys’ AI-First Tech Enhances Australian Open 2024 Experience
The Australian Open 2024 (AO24) is not just a tennis tournament, but a showcase of how artificial intelligence (AI) can transform the game and the fan experience. Infosys, a global leader in next-generation digital services and consulting, is partnering with Tennis Australia to bring AI-first technologies to the centre court and beyond. AI for fan […]
Realme’s 100M Indian Sales in 5 Years; 2024 Product, Branding Focus
Realme, a global emerging consumer technology company, has achieved a remarkable milestone of 100 million smartphone sales in India in just five years of its inception. The brand has also become the fastest smartphone brand to reach this feat globally, according to Strategy Analytics. In this article, we will look at how Realme has achieved […]
Tata Motors’ Sanand Plant Set for EV Production from April
Tata Motors, India’s leading automobile company, is gearing up to start the production of electric vehicles (EVs) at its newly acquired Sanand plant in Gujarat from April 2024. The company aims to leverage the state-of-the-art facility and the strong supplier network in the region to boost its EV portfolio and market share. The Sanand plant […]