Page 1994 - Company News

Hero MotoCorp reports 165% jump in wholesales in May at 486,704 units

Domestic sales stood at 4,66,466 units last month. The company had dispatched 1,59,561 units in the domestic market in May 2021.

Byju's CEO set to focus on global biz, COO Mrinal Mohit to handle India mkt

BYJU'S in March announced a new partnership with QIA, the sovereign wealth fund of Qatar, to launch a new edtech business and state-of-the-art research centre in Doha

MoEngage raises $77 mn in round led by Goldman Sachs Asset Mgt, B Capital

This is Goldman Sachs Asset Management's first investment in an Indian SaaS company

Royal Enfield's total dispatches rise 133% at 63,643 units in May

Motorcycle maker Royal Enfield on Wednesday said its total sales stood at 63,643 units in May.

IRDAI eases approval norms for health, general insurance products

Irdai has tweaked 'Use and File' procedure for all health insurance products and almost all the general insurance products in line with the reform agenda taken up towards having a fully insured India

Fintech unicorn Slice raises $50 mn funding led by Tiger Global, others

With its core credit product set to become profitable in the months ahead, Slice will use the new capital to shore up its balance sheet and support expansion of its new UPI product

M&M reports over 200% surge in total sales at 53,726 units in May

Mahindra & Mahindra (M&M) on Wednesday said its total sales stood at 53,726 units in May.

Sachin Bansal's Navi Finserv's Rs 300-cr debt bond subscribed 1.4 times

The fintech firm's secured, rated, listed and redeemable non-convertible debentures (NCDs) have a total value of Rs 600 crore after including the greenshoe option of Rs 300 crore.

Vedanta employs largest lithium-ion battery powered fleet of 27 forklifts

Done in partnership with Gemini Equipment and Rentals India, this feat sets the ball rolling on Vedanta Aluminium's plans to decarbonise its industrial vehicle fleet.

Hyundai total sales at 51,263 units in May; exports at 8,970 units

The company's two plants in Chennai observed the scheduled biannual maintenance shutdown leading to no production for six days in the month (May 16-21), the automaker said in a statement.

FMCG industry logs volume decline in Jan-Mar as consumption slows: Report

The FMCG industry saw decline in volume in the January-March period as consumption was impacted by price increases, especially in the food and essentials categories, said a report by NielsenIQ.

Reliance Brands to acquire 40% stake in Plastic Legno SPA's India toy biz

Plastic Legno SPA is owned by the Sunino group that boasts of more than 25 years of toy production experience in Europe

Cuemath raises $57 mn in funding led by Alpha Wave; valuation doubles

The valuation of the edtech startup has doubled to USD 407 million (about Rs 3,155 crore), post the fresh fundraising, the company said.

Alibaba best-paying tech company in China despite internet crackdown

Despite China aiming to rein in domestic Internet giants, Alibaba is still the best-paying tech company in the country at an average monthly salary of $5,000, followed by ByteDance and Tencent Holdings that offer average monthly wages of $4,900 and $4,600, respectively.

Workplace platform Slack enters India to help firms establish 'digital HQs'

Slack, which has users in over 150 countries globally, already has a significant following in India which is one of its top 10 markets for paid teams globally.

Cordelia Cruises aims to pump in $1 bn by 2025 to boost India operations

The company's bullish outlook is in line with the government's projection of a 10-fold growth for this industry over the next decade.

CV maker Ashok Leyland's sales jump four-fold to 13,273 units in May

Sales of light commercial vehicles in the domestic market stood at 5,190 units in May, as against 1,225 units in May 2021, the company said.

Biz travel sees revival as OYO adds 1,250 new corporate clients since Mar

Small and medium businesses continue to contribute significantly to the business travel bookings as more and more people from this segment opt for physical interactions

Pvt refiners profit from cheap Russian crude, state refiners suffer: Report

While many Western buyers are avoiding Russian crude in response to its invasion of Ukraine, Indian private refiners such as Reliance and Nayara have been among the biggest buyers this year

SpiceJet tells SC matter with Credit Suisse settled; seeks urgent hearing

SpiceJet Limited told the Supreme Court that it has reached a settlement over its outstanding dues with Swiss company Credit Suisse and sought an urgent listing of its plea