Comparing the creation of the semiconductor industry to the construction of a building, the IT Minister said that India’s semiconductor strategy was being developed brick by brick using the best talent available and creating a conducive ecosystem. Even as India is poised to become a major global hub in semiconductor … Read more
Category: Business and Finance
DDA housing scheme 2023: Registration for 5,500 flats to start at 5 PM. Check how to apply, documents needed
A DDA notification said that under the latest scheme, registration will be open for 40 High Income Group (HIG) flats in Jasola, 200 Middle Income Group (MIG) flats in Dwarka and Narela. The Delhi Development Authority (DDA) is all set to open the online registration for over 5,500 flats today … Read more
IDFC First Bank to merge with IDFC Ltd in 155:100 share exchange ratio
Post merger, book value per share of IDFC First Bank would increase by 4.9%, as calculated on audited financials as of March 31, 2023. The Board of Directors of IDFC First Bank Ltd on Monday approved merger of IDFC Ltd with the lender. The share exchange ratio for the amalgamation of IDFC Limited with … Read more
Peak XV leads $10 million Series A1 funding round of spacetech start-up Digantara
This investment will enable the Bengaluru-based firm to deploy the first phase of its flagship Space-MAP surveillance satellite constellation. Bengaluru-based space situational awareness (SSA) firm Digantara Research & Technologies has raised $10 million in a Series A1 funding round to further develop its flagship Space-Mission Assurance Platform (Space-MAP), the company announced Tuesday. … Read more
BPCL to add 165 EV charging corridors by March; to add 7.5 bn litres of ethanol capacity.
Rapidly expanding capability to promote cleaner vehicle fuels like ethanol and EV charging infrastructure, says P.S. Ravi, Executive Director of BPCL. Bharat Petroleum Corporation (BPCL), the country’s second largest public sector oil marketing company (OMC), is rapidly expanding capacity in the green energy space. The company has taken the lead … Read more
Maruti Suzuki sales rise 2% YoY in June at 1,59,418 units; domestic PV sales up 8%
The mini car category, which includes popular models such as Alto and S-Presso, witnessed a slight decline, with 14,054 units sold compared to 14,442 units in June 2022. Maruti Suzuki India Limited (MSIL) on Saturday announced that it has seen a 2 per cent increase in total sales to 1,59,418 … Read more
Mercedes-Benz India sold more than 25,000 cars through its ‘direct-to-customer’ sales model
Santosh Iyer, MD and CEO of Mercedes-Benz India, told Business Today, says top-end segment is one of the fastest growing. Mercedes-Benz India seemingly paved the way for a new retail model in India’s auto industry when in June 2021 it launched what it called ‘Retail of the Future’ (ROTF), a … Read more
HDFC Bank initiates rebranding process of HDFC offices, branches after merger
The complete process of changing the look of HDFC Ltd offices and branches is expected to take around 24 hours. HDFC Bank has started rebranding the offices and branches of HDFC Ltd after the merger of the two companies was announced on late Friday. Branding at the home lending giant’s … Read more
Is HDFC Bank’s lacklustre stock performance about to get better with a stronger mortgage portfolio?
On July 1, HDFC Ltd will merge with the bank, providing it an extensive network of specialised branches, highly skilled employees, and a secured mortgage portfolio. The last two years have seen HDFC Bank underperform in the stock market. The country’s second largest bank’s stock has been range-bound around Rs … Read more
‘Will liquidate non-core assets if equity funding doesn’t materialise’: Byju Raveendran tells employees
Byju Raveendran addressed his employees in a virtual town hall and assured them that “the situation is not as bad as what appears in the media.”Addressing his employees in a town hall meeting on Thursday, Byju Raveendran, co-founder and CEO of edtech company BYJU’S said the company is actively engaged … Read more