Ola Electric's FY23 financials will be a positive surprise: CEO Bhavish Aggarwal
Ola Electric's losses widened around 293 percent to Rs 784 crore in FY22, but expects to see recovery this year. The company is also launching its lithium ion battery facility and hopes to hit the global EV market next year.
'ITC Next' lays out blueprint for profitable growth amid global uncertainty
In line with its expansion strategy, ITC inaugurated five state-of-the-art factories and a luxury hotel.
Ola reports consolidated revenue of Rs 1,970 crore; losses mount to Rs 1,522 crore
The company reported a consolidated loss of Rs 1,522.3 crore in FY22, up by around 36.3 percent YoY mainly on account of rise in its overall expenses
Kalyan Jewellers to expand Candere's offline presence, open 30 stores this year
By the end of the year, the company wants offline revenue to account for 20-25 percent of Candere's total revenue, Kalyan Jewellers executive director Ramesh Kalyanaraman tells Moneycontrol
Credgenics raises $ 50 million in funding led by WestBridge, Accel
Founded in 2019 by Goel, Anand Agrawal and Mayank Khera, Credgenics provides loan collections and debt resolution technology platform to banks, non-banking finance companies, fintechs
ZestMoney gets a lifeline, existing investors infuse capital
This comes months after Walmart-backed PhonePe called off its deal with ZestMoney over due diligence concerns that led to a huge setback for the BNPL platform.
Stable Money raises $5 million in seed funding led by Matrix Partners India and Lightspeed
Founded in 2022, Stable Money is cofounded by Saurabh Jain and Harish Reddy. Jain left Sachin Bansal-backed Navi Mutual Funds in 2022 to start Stable Money.
Freshworks sees churn in top level as HR, marketing chiefs call it quits
The company's co-founder and Chief Technology Officer (CTO) Shan Krishnaswamy left the company in September 2022 amid a management rejig.
Reliance Retail positioned for industry leadership with impressive growth: Annual report
Reliance Retail opened more than 3,300 new stores this year, the company said in the annual report.
Reliance Retail boosts sustainability focus with EV fleet
In fiscal year 2022-23, technological advances and maintenance methods resulted in considerable energy savings of 2.53 million GJ, for Reliance.
Explore the power of megatrends with Bajaj Finserv Flexi Cap Fund
The fund managers at Bajaj Finserv Flexi Cap Fund follow a megatrend investing approach to determine the portfolio allocation and stay ahead in a rapidly changing world
Blinkit will deliver more value to shareholders than Zomato in 10 years: Deepinder Goyal
Zomato's quick commerce bet enters positive unit economics territory, aims to become operationally profitable in next 4 quarters
Kalyan Jewellers to open 200th outlet amid nationwide expansion drive
Kalyan Jewellers has a presence in 22 Indian states and union territories and extends its reach to four Middle Eastern countries.
DPDP bill: Govt proposes Rs 25 crore one-time expense to set up Data Protection Board, annual expenditure of Rs 10 crore
The Data Protection Board has been given the power to advise the Central government to block digital platforms.
Peak XV-backed FamPay undertakes layoffs, cuts 18 jobs
Founded in 2019, FamPay is a neo-bank or payment app that offers cashless facilities for teenagers
Freshworks’ Q2 revenue up 19% YoY to $145 million, expects full-year operating profit of $28 million
The company's net loss came down to $35.04 million in Q2 of 2023 as against a loss of $68.16 reported during the same quarter last year. It expects its overall revenues in 2023 to be in the range of $587 million to $595 million.
PayU to focus on Indian market after selling Global Payments for $610 mn
In FY23, PayU's GPO business's total payment volumes grew 12 per cent year-on-year to USD 34 billion, which is around a 3x growth in 5 years. PayU will now focus on its growing Indian payments and credit business.
Foxconn signs LoI with Tamil Nadu to set up Rs 1,600 cr mobile components plant, generate 6,000 jobs
Foxconn's repeated investments and expansion plans in Tamil Nadu are a testament to the state being the top choice for manufacturing in India for major companies around the world, said Industries Minister TRB Rajaa.
Fintech firm PayMate plans to raise pre-IPO funding round, to turn Ebitda positive by Q3FY24
The firm planned to raise a fresh issue of Rs 1,125 crore and an offer of sale of up to Rs 375 crore from its existing shareholders and promoters. The firm plans to raise not more than $30 million from the pre-IPO round as per regulations.
McDonald's to create a spinoff restaurant brand called CosMc's
This new announcement comes in as the chain steps up the pace of new restaurant openings in the current year
ITC expects demerged hotels entity to flourish, backed by parent's 40% stake
ITC’s 40 percent stake will help instill a strong brand value, resonating goodwill, and offer a sense of stability and security to all stakeholders and employees involved, the company said.
Together Fund launches Fund II with total corpus of $150 million
Together’s Fund II to focus on artificial intelligence-based startups, to invest in up to 25 early-stage firms
Rahul Yadav’s 4B Networks didn’t give details to Info Edge despite forensic audit, to go into arbitration
Info Edge said after it did not receive any information and access for the forensic audit, it sent a legal notice and also filed a petition before the Delhi High Court for protection under relevant sections of the Arbitration and Conciliation Act.
Razorpay launches export account for SME merchants to receive international payments
Revenues from Razorpay's international payments division contribute about 20 percent of its overall payments revenue and the firm expects to cover over 1-2 lakh businesses by end of 2025.
