Kinetic Green Energy join hands with Chola for EV financing
Mon, Jul 4, 2022 12:03 PM

Kinetic Green Energy join hands with Chola for EV financing

On Monday, electric vehicle manufacturer Kinetic Green Energy stated that it has signed an initial pact with Chennai-based Murugappa Group's financial services arm Cholamandalam Investment and Finance Company Ltd to offer financing solutions to its EV customers. Via the partnership, Kinetic Green and its dealers will provide easy and affordable financing solutions to their EV customers.

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Unicommerce is planning to add 800 warehouses to its network this FY
Mon, Jul 4, 2022 11:59 AM

Unicommerce is planning to add 800 warehouses to its network this FY

Unicommerce, a supply chain Saas technology company affirmed that it intends to add 800 warehouses to its network this fiscal. The company has attributed this decision to the e-commerce boom in the country. The company is also mulling over creating several new categories and business models. Unicommerce processes over 20 percent of India's e-commerce volumes.

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Wholly-owned arm in New Zealand incorporated by Easy Trip Planners
Mon, Jul 4, 2022 11:53 AM

Wholly-owned arm in New Zealand incorporated by Easy Trip Planners

Easy Trip Planners Limited announced the incorporation of its Wholly Owned foreign subsidiary in New Zealand on June 30, 2022, called EaseMyTrip NZ Limited. The company stated that the newly formed subsidiary will operate all three activities i.e. Inbound/Domestic, Outbound & E-Commerce (Air Tickets, hotels etc) and will start its business operations in dues course.

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Schneider Electric will sell its Russian biz. to local leadership
Mon, Jul 4, 2022 11:51 AM

Schneider Electric will sell its Russian biz. to local leadership

France's Schneider Electric SE on Monday revealed that it has inked a pact to sell its Russian unit to the local management team. Upon completion of the aforementioned sale, Schneider will become another addition to the list of companies divesting their Russian businesses. Schneider will write off up to 300 million euros ($313 million) in net book value after this deal.

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NTPC logs massive growth in power generation in the June quarter
Mon, Jul 4, 2022 11:47 AM

NTPC logs massive growth in power generation in the June quarter

NTPC Ltd., a state-run power enterprise revealed on Monday that it had logged a 21.7 percent spike in electricity generation at 104.4 billion units (BU) in the April-June quarter of this financial year. It is noteworthy that In June 2022, power generation was 34.8 BU, up by 29.3 percent against 26.9 BU in June 2021.

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Mohan Wilson appointed as Director Marketing by Nissan Motor India
Mon, Jul 4, 2022 11:44 AM

Mohan Wilson appointed as Director Marketing by Nissan Motor India

Automaker Nissan Motor India appoints Mohan Wilson as Director of Marketing, Product and Customer Experience effective July 1. Wilson succeeds Sriram Padmanabhan and will now report to Adam Paterson, Managing Director Nissan Australia. Wilson earlier looked after the Global Marketing Planning at Nissan Motor Corporation's premium car brand INFINITI at its global headquarter in Japan.

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JGB yields log a decline ahead of 10-year auction
Mon, Jul 4, 2022 11:43 AM

JGB yields log a decline ahead of 10-year auction

Japanese government bond yields declined on Monday. The aforementioned dip came after U.S. Treasury yields dipped their most since March 2020 at the end of last week. The U.S. Treasury yields fell owing to expectations that the Federal Reserve will further hike interest rates to counter spiking inflation. The 20-year JGB yield slumped 0.5 basis points to 0.865%.

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Zomato shares drop after Blinkit acquisition announcement
Mon, Jul 4, 2022 11:36 AM

Zomato shares drop after Blinkit acquisition announcement

In Monday’s morning trade, the share price of Zomato plunged after it announced to acquire Blinkit (earlier known as Grofers) for ₹4,447 crores. On 24th June 2022, Zomato’s board nodded to the acquisition of cash-strapped Blinking. Owing to this, the share price of Zomato has declined in 6 straight sessions. Stock market experts believe it may further drop up to ₹30 to ₹25 levels.

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A mobile telematics-based motor policy has been launched by Edelweiss
Mon, Jul 4, 2022 11:33 AM

A mobile telematics-based motor policy has been launched by Edelweiss

Edelweiss General Insurance has rolled out SWITCH. SWITCH is a comprehensive motor insurance product launched under the aegis of the Insurance Regulatory and Development Authority's (Irdai) Sandbox initiative. It is noteworthy that SWITCH is a completely digital, mobile telematics-based motor policy.

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Mon, Jul 4, 2022 11:30 AM

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Greenko partners up with IIT Hyderabad to establish GSSST
Mon, Jul 4, 2022 11:29 AM

Greenko partners up with IIT Hyderabad to establish GSSST

A memorandum of understanding (MoU) has been signed between renewable energy major Greenko and IIT Hyderabad to launch India’s first dedicated school for sustainable science and technology. Greenko School of Sustainable Science and Technology’ (GSSST) intends to plug the rising research, education, and skills gaps caused by the imperatives of sustainable development.

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Hiren T Makwana appointed as Chief Financial Officer by Ashoka Metcast
Mon, Jul 4, 2022 11:23 AM

Hiren T Makwana appointed as Chief Financial Officer by Ashoka Metcast

Ashoka Metcast Limited has appointed Hiren Tribhovandas Makwana as the Chief Financial Officer of the Company with effect from July 02, 2022. Hiren T. Makwana, 27 years, has more than five years of experience in the field of accountancy. The company was incorporated on July 29 2009. At around 11:09 AM, Ashoka Metcast was trading at Rs8.99 per share higher by 12.38% on the BSE.

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Vasil upgrade goes live on Cardano's Testnet
Mon, Jul 4, 2022 11:12 AM

Vasil upgrade goes live on Cardano's Testnet

According to a statement published on Sunday, Cardano's Vasil hard fork has begun operating on the testnet of the blockchain. According to the company, the event act as an "essential next step" in the deployment of the much-awaited upgrade. Stake pool operators, developers, and crypto exch will test Vasil for 4 weeks. After that, the hard fork will be triggered on the blockchain’s mainnet.

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JPMorgan downgrades ONGC as shares extend decline after windfall tax
Mon, Jul 4, 2022 11:05 AM

JPMorgan downgrades ONGC as shares extend decline after windfall tax

On Friday, the GoI imposed a $240 per tonne special additional excise duty on crude oil production in the country. Owing to this, the shares of ONGC extended their decline on July 4 after JPMorgan India downgraded the stock in the wake of the new windfall tax. The brokerage firm has reduced its rating on the stock to ‘neutral’ from ‘buy’ earlier and cut its price target by 26% to Rs 155.

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Crypto trading, deposits, and withdrawals suspended by Voyager Digital
Mon, Jul 4, 2022 11:04 AM

Crypto trading, deposits, and withdrawals suspended by Voyager Digital

The crypto brokerage firm, Voyager Digital, revealed on Friday that all customer trading, deposits, withdrawals, and loyalty awards have been halted. “This decision gives us additional time to continue exploring strategic alternatives with various interested parties while preserving the value of the Voyager platform we have built together,” said Voyager Digital’s CEO, Stephen Ehrlich.

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