Air India Cuts 180+ Non-Flying Jobs
Tata-owned Air India has shed over 180 non-flying staff in recent weeks, a move aimed at streamlining operations and improving its bottom line. The airline, acquired by the Tata Group in January 2022, has grappled with significant financial losses for years. Voluntary Retirement and Reskilling Initiatives Air India claims the affected employees were unable to […]
Flipkart Valuation Takes Rs 41K Cr Hit in 2 Years
E-commerce giant Flipkart finds itself navigating choppy waters after a recent report by its parent company Walmart revealed a significant decline in its valuation. Over the past two years, Flipkart’s valuation has shrunk from $40 billion at the end of FY 2022 (January 31, 2022) to $35 billion as of January 31, 2024. This translates […]
RailTel Secures ₹130 Cr Bihar Education Project Council Order
RailTel Corporation Limited, a public sector undertaking under the Ministry of Railways, has secured a significant order worth ₹130 crore from the State Project Director (SPD) of the Bihar Education Project Council (BEPC). Project Details This project focuses on the empanelment of an agency for supplying teaching and learning materials for classes 1 to 5 […]
EV Policy Extended: Delhi Cabinet Approves Till June
The fight for cleaner air in Delhi gets a shot in the arm with the Delhi Cabinet’s approval to extend the Electric Vehicle (EV) Policy until June 30, 2024. This decision comes as a welcome relief for potential EV buyers, as it ensures the continuation of existing incentives and subsidies that make electric vehicles a […]
Govt’s E-Vehicle Policy: Minimum $500M Investment Decided
India’s electric vehicle (EV) dream charges forward with the government’s recently unveiled policy. This strategic initiative aims to propel the nation into the fast lane of global EV manufacturing by attracting established industry giants. A Selective Invitation: High Investment Bar A central pillar of the policy is the significant minimum investment requirement of $500 million […]
IIT Roorkee, Ministry of Heavy Industries Partner in Auto, EV Sector
India’s electric vehicle (EV) sector is poised for a significant leap forward, fueled by a collaborative effort backed by a substantial financial investment. The Ministry of Heavy Industries (MHI) and IIT Roorkee have joined forces, signing a Memorandum of Understanding (MoU) to establish a Centre of Excellence (CoE) and an Industry Accelerator at the esteemed […]
Shivalik Bank, Arya.ag Partner for Commodity Financing
In a significant development for the Indian agricultural sector, Shivalik Small Finance Bank and Arya.ag, a leading integrated grain commerce platform, have joined forces. This strategic partnership aims to empower a critical segment of the economy – farmers, agro-processors, and micro-enterprises – by facilitating over ₹200 crore in warehouse receipt financing during the current financial […]
Reliance buys 13% Viacom stake from Paramount for Rs 4,286 Cr
In a move that significantly bolsters its presence within the Indian media industry, Reliance Industries Limited (RIL) has signed a definitive agreement to acquire Paramount Global’s entire 13.01% stake in Viacom18 Media Private Limited for Rs 4,286 crore. This strategic acquisition, announced on March 14, 2024, comes on the heels of Reliance and Viacom18’s recent […]
Tata Power Solar Finishes India’s Biggest Solar-Battery Project
Tata Power Solar, a subsidiary of Tata Power Renewable Energy Limited (TPREL), has solidified its leadership in India’s renewable energy sector by successfully commissioning the country’s largest integrated solar-battery energy storage system (BESS) project. Located in Rajnandgaon, Chhattisgarh, this groundbreaking initiative boasts a mammoth 100 MW solar photovoltaic (PV) plant seamlessly integrated with a colossal […]
Tata Motors’ Rs 9,000 Cr Tamil Nadu Manufacturing Unit
Indian automobile giant Tata Motors floored the accelerator on its South Indian expansion plans, unveiling a groundbreaking Rs 9,000 crore investment for a cutting-edge manufacturing unit in Tamil Nadu.expand_more This strategic maneuver underscores the company’s commitment to fortifying its presence in the southern market, with the project slated for completion within a five-year timeframe.expand_more Industry […]