Top headlines: TaMo to raise PV prices; FM clears air on Antrix-Devas case

Business Standard brings you the top headlines on Tuesday

Tata Motors to increase passenger vehicle prices from January 19

Tata Motors on Tuesday said it will increase prices of its passenger vehicles by an average of 0.9 per cent with effect from January 19, in order to partially offset the impact of rise in input costs.

The Mumbai-based automaker sells various models like Tiago, Punch and Harrier, in the domestic market.

Effective January 19, 2022, an average increase of 0.9 per cent will be implemented, depending on the variant and model, the automaker said in a statement. Read more

Antrix-Devas case was a fraud on people of India, says FM Sitharaman

Finance Minister Nirmala Sitharaman on Tuesday accused Congress-led UPA of entering into a "fraud" and "scandalous" deal with Devas Multimedia by allocating S-band spectrum used by the defence for "pittance".

At a press conference, she said the government is now fighting in every court to save taxpayers' money that would otherwise go towards paying for arbitration awards that Devas has won against the cancellation of the 2005 deal. Read more

Bhagwant Mann is AAP's chief minister candidate for Punjab assembly polls

Bhagwant Mann will be the AAP's chief ministerial face for the February 20 Punjab Assembly polls, the party announced on Tuesday.

The Sangrur MP assured people that he will work for their welfare and put the state back on its feet again if the Aam Aadmi Party (AAP) is voted to power.

Polling for Punjab's 117 Assembly seats is scheduled to be held on February 20 and the counting of votes will be taken up on March 10. Read more

Reliance invests $132 mn in robot firm Addverb Tech in strategic tie-up

Addverb Technologies, which provides robotics and automation tech to customers such as Flipkart, HUL, Asian Paints and Coca-Cola, has formed a strategic partnership with billionaire Mukesh Ambani’s Reliance, which will see the energy-to-telecom conglomerate investing up to $132 million to become the largest shareholder. With this investment, Reliance will hold around 54 per cent stake in Addverb.

Noida-based Addverb had earlier raised around $11 million in Series A and Pre-Series funding led by Jalaj Dani, co-promoter of Asian Paints, making its total funding close to $143 million, since its inception in June 2016. Read more