Napino Auto & Electronics, on Tuesday, confirmed the inking of a deal with Israel-based startup EVR Motors to develop and manufacture motors for electric two-wheelers in India. The automobile component maker feels that the commercial licensing deal with EVR for TSRF motors will offer a fresh dimention to the EV industry with lower cost and better performance.

✅ Domestic benchmark indices continue to trade in the red at 1:30 PM ahead of Infosys Q4 results declaration today. ✅ During the mentioned hour, the BSE Sensex was trading at 58,440.41, down by 136 points or 0.23%. Nifty50 stood at 17,487.20, down 43 points. ✅ ONGC, Apollo Hospital, and UPL appeared as the top gainers at 1:30 PM while Power Grid, HDFC, and Titan emerged as the top losers.

Yes Securities projects that SBI Cards and Payment Services would continue to command a premium valuation thanks to significantly higher profitability than Banks and NBFCs. The domestic brokerage and research firm retained a Buy call on SBI Cards shares with a target price of ₹1,210, thus suggesting a potential rally of about 45% from the current stock level.

Kinara Capital is garnering about $27.3 Mn in a fresh round of funding from the Nuveen Global Impact Fund and Triple Jump. The MSME lending startup Kinara Capital signed a deal to allot a total of 3.2 Mn Class A1 equity shares to Nuveen Global and Triple Jump. The latest funding is secured almost after six months after Kinara Capital had raised INR 70 Cr from Invest in Visions GmbH (IIV).

Almost two years ago, Tata Consumer Products acquired PepsiCo’s stake in NourishCo Beverages. Now the Tata Group Company is eyeing to expand the distribution of brands such as Himalayan bottled water and Tata Gluco+ besides launching more mass-to-premium beverages. The list also includes oral rehydration drinks as it eyes a greater share of the ready-to-drink beverages market.

The US subsidiary of JASH Engineering, Rodney Hunt Inc, USA, has garnered an order worth USD 4.9 million from Lane Construction for the Kansas city flood risk management project. The company stated, "This is the first part of the order and we are quite hopeful to get the second part also which is also quite large.” The shares of the company hit 52-weeks high after the news.

Zydus Lifesciences, on Wednesday, confirmed its decision to deliver Caffeine Citrate Oral Solution from its Gujarat-based production facility to Sagent Pharmaceuticals, Inc. The former will be producing and supplying Caffeine Citrate Oral Solution in the strengths of 60 mg per 3 ml single-dose vial from its injectables facility at Jarod in Gujarat.

A Letter of Acceptance (LoA) from Bharat Mumbai Container Terminal Private Limited (BMCTPL) has been garnered by Man Infraconstruction Limited for the execution of Phase II works at JNPT, Navi Mumbai, Maharashtra being "Reclamation works- Material Supply" for Rs937.89 crore. BMCTPL is an arm of PSA International which is a leading global port player headquartered in Singapore.

KLM will restart its flight services on the Bengaluru-Amsterdam route from May 25. The Royal Dutch airline had temporarily suspended services to India after the Central government suspended all scheduled international flights from and to India, in late March 2020 to arrest the spread of the Covid-19 pandemic. There will be three flights per week from Bengaluru to Amsterdam from May 25 onwards.

Arkam Ventures, the early-stage venture capital fund has stated that it has concluded the final closure of its debut funds at $106 Mn (INR 790 Cr). Against its original target of INR 650 Cr, the fund was oversubscribed at INR 790 Cr. In the Pre-Series A to Series B deals, the funds will invest with an individual cheque size between INR 10 – INR 20 Cr. The fund has supported 12 companies to date.

In Wednesday’s trading session, the Poonawalla Fincorp shares zoomed to hit a 52-week high. The company stated "Q4 FY22 witnessed significant improvement in organic disbursements across all products. Company's disbursements for the fourth quarter were approximately ₹3,330 crores and for FY22, they stood at ₹9,490 crores.” Poonawalla Fincorp primarily focuses on consumer and MSME financing.

To promote GIFT SEZ to Indian as well as global businesses including IT / ITeS and financial services, ICICI Bank and GIFT SEZ have inked MoU. As a part of the MoU, ICICI Bank will jointly work with GIFT SEZ to attract global investors and capital market firms to set up operations in GIFT SEZ. ICICI Bank has been a noticeable player in GIFT SEZ with its banking business since 2016.

A week after the National Payments Corporation of India issued a statement saying that it was not mindful of any crypto exchange using its United Payments Interface (UPI) framework, crypto exchanges CoinSwitch Kuber and WazirX have disabled rupee deposits for the purchase of cryptocurrency using widely-used UPI. The users went on to Twitter to raise their concerns.

Chhattisgarh-based Eighty Jewellers Limited has become the 370th company to get listed on the BSE SME Platform today. The jewellery firm has come out with an IPO of 27,00,000 Equity Shares of ₹10/share for cash at an offer price of ₹41/share, totaling ₹11.07 cr. Further, the company announced that it has successfully completed its public issue on April 05, 2022.

By the fiscal year 2047, the domestic stainless steel demand is expected to reach 20 million tonnes. According to a report, “stainless demand to register a compound annual growth rate (CAGR) of 6.6-7.5 per cent over fiscals 2022-2025 and reach 4.6-4.8 MT." India's installed stainless steel capacity is at 6.6-6.8 MT as of March 2022.