Tata and Airbus have entered into an agreement to collaborate on manufacturing Airbus’s H125 single-engine helicopters and establishing a Final Assembly Line (FAL) for commercial purposes in Vadodara, Gujarat. The 36-acre FAL is set to be operational by November 2024, utilizing components from Airbus’ Main Constituent Assembly line in Hyderabad. Additionally, the partnership will involve […]
Commerce and Industry Minister Piyush Goyal announced on the eve of the 75th Republic Day that the Indian Patent Office has set a “record” by granting 75,000 patents in the last 10 months. He emphasized that this achievement reflects India’s capacity for innovation. During the interaction with innovators and entrepreneurs, Goyal highlighted the government’s efforts […]
Zee Entertainment has opted not to proceed with its $1.4 billion deal with Disney Star for cricket match TV broadcast rights, as confirmed by an industry source. Meanwhile, Sony Corporation announced the termination of its $10 billion merger agreement with ZEEL on Monday, seeking $90 million for breach of conditions and initiating arbitration. Under the […]
Walmart’s subsidiary, Flipkart, maintains its dominant position in the e-commerce sector with a 48% market share, surpassing competitors, as indicated in the latest AllianceBernstein report. Meanwhile, Meesho, backed by SoftBank, emerges as the fastest-growing e-commerce platform in terms of user base in India, according to PTI. The report underscores Flipkart’s robust 21% year-on-year (YoY) growth […]
Ola announces EBITDA positive status for its India mobility business in FY 2023 and appoints Hemant Bakshi, former Unilever executive, as CEO for Ola Mobility. The company emphasizes aggressive growth in ride-hailing, financial services, logistics, and e-commerce. In terms of financials, consolidated entity revenue for FY2023 reached Rs 3,000 crore, compared to Rs 2,120 crore […]
Flipkart, owned by Walmart, is gearing up to trim approximately 5% of its overall workforce, affecting around 1,000 employees. This move is part of the company’s annual performance review, as per a report by Moneycontrol on January 25th 2024. The Bengaluru-headquartered e-commerce giant, inclusive of employees from the fashion portal Myntra, had a workforce of […]
Entero Healthcare Solutions, JNK India, Exicom Tele-Systems, and Akme Fintrade (India) have secured approval from the Securities and Exchange Board of India (Sebi) to initiate their initial public offerings (IPOs). Meanwhile, Stallion India Fluorochemicals has had its IPO papers returned by Sebi. According to the latest update from Sebi on January 19, these four companies, […]
The Supreme Court has rejected a customs department review plea in a case involving alleged overvaluation of imported goods by Adani Power Maharashtra, Adani Power Rajasthan, and other companies. Chief Justice DY Chandrachud and Justice Sanjay Karol, presiding over the bench, stated that there was no apparent error on the face of the record. The […]
On 25th January 2024, Thursday, the Supreme Court declined to entertain Wipro Enterprises’ appeal challenging a Delhi High Court interim order. The order restrained Wipro from using the ‘Evecare’ trademark for its intimate hygiene wash or any other product, as part of a trademark infringement suit filed by Himalaya Wellness Company. In 2022, Himalaya discovered […]
On January 25, the Supreme Court declined to entertain Airtel’s request for clarification regarding its order instructing the telecom giant to pay Rs 112 crore to the now defunct Aircel. Following the apex court’s decision not to entertain the plea, Airtel decided to withdraw its application. Airtel argued in its application, that the resolution plan […]