Company News
IndiGo expects to carry 112 million passengers in 2024: CEO Pieter Elbers
India is one of the world's fastest-growing civil aviation markets and IndiGo, which has a domestic market share of 63.6 per cent, is also expanding its international network
 "IndiGo expects to carry 112 million passengers in 2024: CEO Pieter Elbers")
Ola marks 4,000-store milestone with tier-3 town EV network expansion
The electric vehicle company said it is committed to driving large-scale EV adoption enabling deeper penetration beyond tier-1 and tier-2 cities to almost every town and tehsil across India
 "Ola marks 4,000-store milestone with tier-3 town EV network expansion")
GoMechanic eyeing threefold growth to Rs 700 cr by 2027 before IPO launch
GoMechanic Co-Founder and CEO Himanshu Arora told PTI that the company at present has around 3 per cent market share and aims to raise it to 10 per cent in the next three years
 "GoMechanic eyeing threefold growth to Rs 700 cr by 2027 before IPO launch")
Hisense in talks with contract manufacturer Epack to pick minority stake
Greater Noida-based company further said it will file the requisite disclosure in compliance with applicable laws when required
 "Hisense in talks with contract manufacturer Epack to pick minority stake")
Ola Electric adds 3,200 new outlets to improve after-sales service
Ola Electric grows its network to 4,000 showrooms and service centres following consumer complaints and social media backlash on product quality and after-sales service
 "Ola Electric adds 3,200 new outlets to improve after-sales service")
Toyota global production down for 10th month despite rising sales
The world's biggest automaker manufactured 869,230 vehicles globally in November, down 6.2 per cent from the same month last year
 "Toyota global production down for 10th month despite rising sales")
AB Capital infuse Rs 23 crore into health insurance arm via rights issue
The standalone health insurance company is an associate of Aditya Birla Capital and with this acquisition of the shares through rights issue
 "AB Capital infuse Rs 23 crore into health insurance arm via rights issue")
IOC to invest Rs 61,000 crore for naphtha cracker project in Odisha
The decisions were taken at a meeting between Chief Minister Mohan Charan Majhi and IOCL Chairman AS Sahney in Bhubaneswar
 "IOC to invest Rs 61,000 crore for naphtha cracker project in Odisha")
Xerox to buy printer maker Lexmark from Asian investors in $1.5 bn deal
Lexmark, spun off in 1991 by International Business Machines Corp., is already a partner and supplier to Xerox
 "Xerox to buy printer maker Lexmark from Asian investors in $1.5 bn deal")
Action likely against AbbVie executive who signed self-declaration
Pharma cos and docs say medical conferences have declined since March after UCPMP was notified
 "Action likely against AbbVie executive who signed self-declaration")
NFRA slaps a penalty of Rs 2 crore on Deloitte Haskins for ZEEL audit
NFRA found that ZEEL had misappropriated its money and made unauthorised transactions with related parties without the approval of the audit committee, the board, and shareholders
 "NFRA slaps a penalty of Rs 2 crore on Deloitte Haskins for ZEEL audit")
Shift and diverge: Why mergers of carmakers like Honda-Nissan often crash
Combining two large, global manufacturing operations is an incredibly difficult feat that involves reconciling different technologies, models, and approaches to doing business
 "Shift and diverge: Why mergers of carmakers like Honda-Nissan often crash")
NFRA flags deficiencies in BSR & Co's audit of related party transactions
In a 13-page inspection report, NFRA found lapses related to auditing standards and compliance with the Companies Act 2013
 "NFRA flags deficiencies in BSR & Co's audit of related party transactions")
MultiPlan Corp signs agreement with creditors to refinance $4.5 bn debt
Holders of about 78 per cent of various bonds and term loans have agreed to the deal, which targets debt due between 2026 and 2028
 "MultiPlan Corp signs agreement with creditors to refinance $4.5 bn debt")
Samsung plans comeback in AC segment, to launch over a dozen models
The company is planning to launch over a dozen models of inverter ACs for its 2025 lineup in the next few weeks, expanding the total number of stock-keeping units (SKUs) to 15-16
 "Samsung plans comeback in AC segment, to launch over a dozen models")
Dabur sues Patanjali Ayurved over 'disparaging' Chyawanprash advertisement
The lawsuit alleges that an advertisement featuring Patanjali Ayurved founder Baba Ramdev falsely claims that only Patanjali's Chyawanprash is 'original'
 "Dabur sues Patanjali Ayurved over 'disparaging' Chyawanprash advertisement")
V2 Retail aims for Rs 2,800 crore revenue; 250 stores in two years
The company is set to close FY24 with a revenue of Rs 1,800 crore up from Rs 1,150 crore in FY24
 "V2 Retail aims for Rs 2,800 crore revenue; 250 stores in two years")
DGCA slaps Akasa Air with Rs 10 lakh penalty over boarding denial
This is not the airline's first run-in with the regulator. In October, the DGCA imposed a Rs 30 lakh fine on Akasa Air for lapses in pilot training
 "DGCA slaps Akasa Air with Rs 10 lakh penalty over boarding denial")
BPCL clears decks for Rs 95k cr Ramayapatnam refinery in Andhra Pradesh
The refinery was a commitment made in the Andhra Pradesh Reorganisation Act 2014
 "BPCL clears decks for Rs 95k cr Ramayapatnam refinery in Andhra Pradesh")
IRFC raises Rs 2,840 cr through 10-year bonds at 7.15% interest rate
Indian Railways' finance arm was in the market to raise Rs 3,000 cr
 "IRFC raises Rs 2,840 cr through 10-year bonds at 7.15% interest rate")
