Kirloskar Oil Engines (KOEL) today said it will hike prices of its power generator sets under KOEL Green and KOEL Chhota Chilli brands by 5-8 per cent from June 10 due to rise in raw material costs.
"Over the past one year, there has been a continuous rise in raw material costs, due to escalation in commodity prices. Considering the industry dynamics and GST transition during the last fiscal, we have been holding our genset prices. However, a price increase from June 10, now seems inevitable," said Sanjeev Nimkar, vice-president and business head, KOEL.
***************** Unicorn India Ventures invests in Inntot Technologies *
Unicorn India Ventures, an early stage VC fund, has invested an undisclosed amount in Kerala-based Inntot, a software defined radio startup.
It is a seed-funding round, which marks Unicorn India as the first institutional investor in Inntot, a statement here said.
Inntot aims to bring down the cost of digital radio receivers substantially for OEMs or ODMs, it added.
***************** Avis India launches chauffeur services for outbound travellers *
Avis India, a joint venture between US-headquartred Avis and Oberoi group, today launched 'international chauffeur drive service' for Indian outbound travellers.
The service is aimed at its Indian customers, including business, corporate and leisure travellers by enabling on-demand chauffeur-driven car hire solutions in over 110 countries across EMEA, APAC, the USA and Canada, it said in a release today.
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