Author: News Desk
Ola Electric recalls 1,441 units of electric two-wheelersThis voluntary recall is for a specific batch of S1 Pro e-scootersThe recall is in the wake of the recent Pune fire accidentOne of its vehicles caught fire in Pune last monthOla would conduct a detailed check of scooters in the batchMeanwhile, the Ola team is investigating the incident in PuneAs of now, they say ‘it was an isolated one’Recently, electric scooters have been facing backlash in IndiaIt was following a spate of fire incidentsBesides Ola Electric, Pure EV and Okinawa Scooters also faced the fire incidentsUnion Minister Nitin Gadkari had asked EV…
Beauty and fashion retailer Nykaa recently announced investments in three brands – Earth Rhythm, Nudge Wellness, and KICA – for a total of Rs 49.76 crore. Nykaa has taken an 18.51 per cent share in clean and sustainable beauty brand Earth Rhythm for Rs 41.65 crore. The new investment will strengthen Earth Rhythm’s product portfolio in the sustainable beauty category. The company had a revenue of Rs 18.56 crore in FY 22. Harini Sivakumar, founder and CEO of Earth Rhythm, sees the investment as an endorsement of their efforts for a clinically-effective, tech-driven skincare and haircare brand. Nykaa took a…
Netflix, one of the most popular streaming platforms, is going downhill. The company’s total market capitalization has come down to nearly $50 billion. What is happening with Netflix? The company said that it lost 200,000 subscribers during the first quarter of 2022, the biggest drop in a decade. Although Netflix believed the fall was due to COVID-19, looks like there are other factors. One of the main problems Netflix face is people sharing passwords. According to the company, over 100 million additional households, other than its 222 million paid subscribers, access the service due to passwords being shared. When the…
The Initial Public Offering (IPO) of India’s largest insurer Life Insurance Corporation of India (LIC) is reducing its issue size. According to the latest reports, the LIC board has given permission to reduce the issue size to 3.5 per cent from 5 per cent, meaning the government will dilute only 3.5 per cent of its shares worth Rs 21,000 crores. However, the decision is yet to receive Sebi’s permission. As per the rules of the market regulator, companies with a valuation of over 1 trillion have to dilute 5 per cent equity and Rs 5,000 shares. According to the revised…
Gautam Adani to buy top marine services company Ocean Sparkle for Rs 1,530 crHe will do the purchase through Adani Harbour Services, an arm of Adani PortsThe acquisition will make Adani Harbour the leader of India’s marine services marketA group of marine technocrats and financial investors own Ocean SparkleOcean Sparkle was established in July 1995It does towage, pilotage, and dredging services across ports and LNG terminalsTowage and pilotage contribute 92% of its revenue while dredging services provide 8%Ocean Sparkle is expected to hit a profit of Rs 135 cr in FY22
Dubai is a place of many wonders. A commercial hub, it offers many exciting experiences to residents as well as tourists. Here is another breathtaking experience from Dubai which now hosts the world’s most expensive restaurant, Sublimotion. The restaurant is up for a three-month pop-up experience and the price range starts at AED5,000. The restaurant will stay in Mandarin Oriental Dubai until May 4, 2022. What makes the restaurant unique is its multi-sensory concept. The restaurant offers a delicious dining experience through culinary art and technology innovation. The world’s most expensive restaurant offers the most luxurious dining experience. It has…
From virtual puja to airplane parts construction, the entrepreneurial spirit of the third generation of the NR Group, producers of Cycle Agarbattis, is branching out to various ventures. However, the incense stick stays at the core of all the businesses. Cycle Agarbatti, also known as Cycle Pure Agarbatti is an Indian incense stick brand, founded by N. Ranga Rao in 1948. Presently, it is headed by Arjun Ranga who is the managing partner of the brand. It is a commodity parented by the NR Group. It was created as a subsidiary. N. Ranga Rao was eight years old when he…
BigBasket to start 10-minute grocery delivery after Swiggy, Blinkit BigBasket announced its foray into 10-20 minute delivery It will be delivering through bbnow within a 1.5-2.5 kilometer radius The bbnow service will sell over 3,000 products Besides this, BigBasket would also be focusing on one hour delivery through bbexpresss within a 6 kilometer radius of the store The bbexpress would offer over 8,000 products The company will rely on its own dark stores for these operations BigBasket will be a part of Tata Digital’s super app TataNeu BigBasket is the last big grocery delivery player to enter the quick commerce…
UK Prime Minister Boris Johnson is on a two-day visit to India During his visit, he will announce several commercial agreementsIndia, UK to confirm more than 1 billion pounds in new investmentsThe investments will range from software engineering to healthThe UK PM will use his visit to reinforce trade opportunities with IndiaThis, in turn, will drive jobs and growthFor eg, the opening of Asia Pacific HQs in Chennai will create over 1,000 jobs in the UK and India The UK will also confirm the joint investment for Indian deep-tech and AI startups
Hero Electric and Bolt to install 50,000 charging stations in IndiaThis development will occur within one yearHero Electric is an electric two-wheeler companyBolt is an EV infrastructure providerThe chargers will be set up across 750 touchpoints of Hero ElectricThe initiative will support over 4.5 lakh customersBesides, about 2,000 Hero Electric riders will get free Bolt charging units installed at their homesThe union is expected to boost EV adoption and carbon-free mobility in India