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M3M India sighs MoU with parent company of Oyo to expand Sunday hotel across India
Realty developer M3M India and OYO's parent company, Oravel Stays, signed an MoU to expand the Sunday branded hotel in India. The first project will be a 220-key hotel at M3M SkyLoft in Gurugram. This partnership aims to develop 1.5 million square feet of luxurious hospitality space across multiple destinations.
DailyHunt parent VerSe acquires digital marketing solutions firm Valueleaf
VerSe Innovation, parent company of DailyHunt and short-video platform Josh, acquired digital marketing solutions company Valueleaf in a cash-and-stock deal. VerSe cofounder Umang Bedi said this transaction will drive growth for the company and generate additional revenue of about $100 million.
Cathay Cargo keen to grow biz in India, wants 'coterminalisation' of freighter planes
Cathay Cargo sought permission to expand operations in India by co-terminating flights under the open sky policy. The company focused on India's robust economic growth, enhancements in infrastructure, and rising exports in sectors like pharmaceuticals, auto components, and electronics to justify this expansion strategy, reflecting a strong belief in the market's potential.
Danfoss India confident of doubling sales by 2025, company president says
Danfoss India, a subsidiary of the Denmark-based Danfoss Group, is experiencing significant growth in the Indian market and aims to double its sales by 2025. The Indian market is the fastest-growing region for Danfoss, driven by increased opportunities in energy efficiency and electrification. The company reported a 10.6% EBITDA margin for the first half of the year, down from 12.4% last year, with overall sales of €5 billion.
Air India announced additional flights to Kolkata to cater to festive rush
Air India has announced additional flights to Kolkata from Bengaluru, Hyderabad, Delhi, and Mumbai during the Durga Puja season to meet rising travel demand. These flights are introduced to offer travelers more convenience and seamless connections via major hubs to various international destinations including the United States, Canada, UK, and Australia.
Little talked but not little business: 7 stocks of companies which supply raw material to many industries with an upside potential of up to 40%
As one after another more sectors get tailwinds of higher economic growth, there are many small and medium size companies making a comeback. A comeback on the front of real business and not only the stock market. A number of them are not names which are heard on the street every day, just because of the fact that they don't deal in consumer facing goods. So a company making graphite electrodes , abrasive or supplier of electromineral will not come to mind when it comes to performers in this bull run. Though it is a different thing that these companies have given decent returns in the current bull run.
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Harris' family members are popping up around Chicago this week during the DNC. Here's who's who
Kamala Harris' family is a close-knit, diverse group that plays key roles in her life and career. Her husband, Doug Emhoff, would become America's first gentleman if she is elected president. Harris' stepchildren, sister Maya, and brother-in-law Tony West, along with other relatives, actively support her political journey. The family includes Emhoff's ex-wife, who maintains a positive relationship within their blended family. Together, they provide a strong support system as Harris navigates her historic path in American politics.
AC makers' profits soar in April-June amid blistering heat
During the April-June quarter, air-conditioner manufacturers experienced significant revenue and profit growth due to heightened demand from a severe summer. Key players such as Voltas, Blue Star, Whirlpool of India, Johnson Controls-Hitachi, and Havells (owner of the Lloyd brand) reported substantial increases in both top-line and bottom-line metrics.
From India, with intelligence: How Indian GCCs are driving parent firms' successes
From India-made products that have helped retail giant Tesco increase its profits in the triple-digit million pounds range, to personalised recommendations at Verizon that have made every store visit faster by seven minutes, to Gen AI tools that enhance developer productivity between 10-25% at Goldman Sachs, Indian GCCs have come a long way in becoming strategic partners to their parent organisations, finds Beena Parmar.
Oyo parent raises Rs 1,457 crore in latest funding round
Oravel Stays Ltd, the parent company of OYO, secured Rs 1,457 crore from several investors, including InCred Wealth, J&A Partners, and ASK Financial Holdings. This funding round will aid OYO's growth and global expansion. Additionally, Sumer Juneja from SoftBank was appointed as a Non-Executive Director on the company's Board.
Winning bet: India Inc players also ace the sports game
Corporate-owned professional sports teams in India experienced a surge in earnings during 2023-24, particularly in cricket. Entities like Reliance Industries and United Spirits saw their teams' revenues increase, driven by higher central revenue from the BCCI. In contrast, football teams struggled with modest revenue growth and profitability.
Mahindra Group companies run into 'brand' tax
Mahindra & Mahindra received a notice from the GST office regarding the use of the 'Mahindra' brand name by group companies, questioning why GST wasn't paid for the service between 2017-23. Tax officials believe GST should apply to the royalty or fees, raising concerns among corporate circles about the implications for numerous business houses.
Air India Express offers more booking options through virtual interline platform
Air India Express has launched a new virtual interline platform called "AIX Connect," developed with travel technology company Dohop. This platform allows passengers to book connecting flights between Air India Express and its partner airlines.
PB Fintech Q1 Results: Policybazaar parent posts cons PAT of Rs 60 crore versus YoY loss; revenue jumps 52%
During the April-June quarter, the company witnessed significant 62% year-over-year increase in total insurance premium, reaching Rs 4,871 crore. The new core online insurance premium surged by 66%, while new health and life insurance premiums experienced an even more substantial 78% growth. Additionally, the company disbursed Rs 3,100 crore in credit and issued 1.3 lakh credit cards during the same period.
Hotstar, JioCinema beat parents' TV operations in valuations game
Disney+ Hotstar and JioCinema were valued higher than their parent companies' linear TV businesses. Reliance Industries and Disney signed a deal to merge Star India and Viacom18, creating an entity valued at ₹70,352 crore. The valuations by EY and BDO reflect the greater worth of digital platforms compared to traditional TV.
India Inc rolls out benefits for employees’ parents, in-laws
India Inc is shifting focus to providing caregiver support for employees with ageing parents and in-laws due to the country's growing elderly population. Companies such as HSBC, Deutsche Bank, Accenture, SAP, and GlobalLogic are offering benefits like elder care leave, mental health counselling, and wellness apps to help employees fulfill caregiving responsibilities. This trend is expected to continue as the need for such initiatives grows with the ageing population.
Ricky Kej 'GQ Man of the year' downgraded for the 3rd time from Air India's business to eco class
Musician Ricky Kej has revealed his intent to sue Air India following repeated issues with ticket downgrades. Kej took to Twitter after being downgraded from business to economy class without a refund. He voiced concerns over the airline's customer service and overall management, urging Air India to improve its operations.
Air India Express gears up for unprecedented Independence Day weekend
The airline, in a statement to ET, said it is witnessing a remarkable increase in both domestic and international travel, with popular destinations like Goa, Jaipur, and Dubai seeing the most demand.
LG to focus on increasing localisation of commercial AC in India; sets up separate service entity
LG Electronics Inc is focusing on commercial air-conditioners in India, launching a new company for their service and maintenance, said a senior executive. Production of compressors has started locally with 50% localization, aiming to increase. LG plans to leverage India's manufacturing for exports and has set up six HVAC training academies
Air cargo companies seek custom-fit tag for transhipment goods
India had set itself an ambitious target to handle 10 million metric tonnes of air cargo by 2030. Shipments in and out of Indian airports were 3.4 mmt in 2023-24, up 7% year on year, according to new data from Airport Authority of India (AAI).
Air India to set up pilot training school at Amravati
The aviation landscape in India is witnessing a transformative phase with major players like IndiGo, Akasa, Air India, and the GMR group investing in extensive training programs to meet the surging demand for skilled pilots and engineers. Air India's Amravati pilot training school is set to be operational by Q1 FY26.
Best ACs in India from 10 Top-Selling Brands (June 2024)
Are you looking for a great air conditioner for your home? If so, then continue reading this article to learn about the best ACs in India from 10 top-selling brands in the country. We have ensured to cover all the best-selling air conditioners from top 10 popular air conditioners brands in this article. Go through the complete list to find the one that suits your needs the best.
Reliance Retail's FMCG plans stay in fast lane with funds on tap
RCPL has raised a total of ₹1,053 crore as debt capital from the parent company over 14 months, according to the filings. RCPL began operations in November 2022 and completed its first full year in FY24. In the filings, RCPL said the proceeds will be used for business operations. A senior industry executive, aware of the plans, said the funding from the parent into RCPL will continue in this fiscal as well, since Reliance has plans to rapidly grow the FMCG business.
Whirlpool shares skyrocket 19% as Bosch weighs bid for parent company
Robert Bosch is eyeing a bid for Whirlpool Corporation, led by CEO Stefan Hartung. The potential acquisition could include popular brands like KitchenAid and JennAir, strengthening Bosch's position in the home appliances sector.
Air India- Vistara merger gets NCLT nod
The National Company Law Tribunal (NCLT) has approved the merger of Air India and Vistara, making Air India the largest international carrier in India operating flights to five continents. The merger, already approved by the Competition Commission of India, will lead to a more efficient operation by eliminating duplicities in resources and operations. Consultants are working on harmonizing workforce and route networks, with the integration process set to begin gradually without grounding flights.
Vistara nimble enough to make course corrections: CEO Vinod Kannan
Vistara CEO Vinod Kannan stated the airline is agile in making adjustments during disruptions, as it navigates its merger with Air India. The carrier aims for growth through the merger, emphasizing the importance of full service carriers in India's market. Kannan expects the merger to be finalized by year-end, pending NCLT approval.
Timken India shares jump 8% after Rs 1,800 crore block deal
On Tuesday, Timken India, a bearings manufacturer, saw a significant surge of 7.5% to reach a high of Rs 4,250 on the BSE, attributed to a substantial block deal valued at approximately Rs 1,800 crore, involving the exchange of 6.65% of equity shares.
Foreign promoters likely to sell 6.6% stake in Timken India
BofA Securities India’ term sheet revealed that the floor price has been fixed at Rs 3,550 apiece — a 10.2% discount to Monday's closing price of Rs 3,956. The sale at the floor price could fetch the parent company around Rs 1,775 crore or $213 million.
Groww moves domicile to India from the US
Increasing number of large startups across sectors looking to shift from US, Singapore
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