The Life Insurance Corporation of India (LIC) has reduced the first-year commission for its agents from 35% to 28%, following a comprehensive revision of the surrender value guidelines. The move aims to align LIC’s agent payouts with the new customer-centric surrender value structure that ensures better benefits for policyholders who choose to terminate their policies Read More…
Ola Electric has been issued a show cause notice by India’s consumer protection authorities after numerous complaints surfaced regarding potential violations of consumer rights. These grievances primarily focus on issues related to the company’s electric scooters, such as product performance not aligning with advertised claims, delivery delays, and subpar after-sales service. Additionally, customers have reported Read More…
In a bold step to solidify its presence in the construction materials sector, the Adani Group is on the verge of acquiring the India unit of HeidelbergCement. This acquisition is part of Adani’s broader strategy to diversify its business interests and gain a stronger foothold in the competitive Indian cement market. HeidelbergCement India, a key Read More…
Reliance Power shares tumbled by 5% following the board’s approval of a ₹4,200 crore fundraising plan. The company aims to raise capital through a mix of debt and equity to address its financial obligations, including debt refinancing and fueling future growth projects. The market reacted swiftly to the announcement, with shares sliding as investors expressed Read More…
Anil Ambani’s Reliance Group is set to make a substantial investment of approximately $1 billion (around ₹8,300 crore) in Bhutan’s renewable energy sector. This ambitious initiative includes the development of a 1,270 MW capacity project, featuring a 500 MW solar plant and a 770 MW hydroelectric project, in partnership with Bhutan’s Druk Holding and Investments Read More…
In a landmark move for India’s aviation sector, Air India and Vistara are set to merge under the Tata Group’s ambitious restructuring plan. This merger aims to establish a single, world-class airline capable of competing both domestically and internationally. As part of Tata’s “Vihaan.AI” transformation initiative, this strategic union will strengthen Air India’s position in Read More…
Candytoy Corporate (CTC), valued at nearly Rs 1,000 crore, has unveiled a strategic partnership with Reliance Retail, signaling a significant leap into the Indian market. Through this collaboration, CTC aims to introduce an innovative blend of confectionery and toys, offering children and families a unique, engaging experience. With a strong presence in 40 countries globally, Read More…
In a notable regulatory action, the Securities and Exchange Board of India (SEBI) has imposed a fine of ₹1 crore on Anmol Ambani, son of industrialist Anil Ambani. This penalty is part of an ongoing investigation into alleged violations of securities regulations. SEBI’s move reflects its unwavering commitment to upholding market integrity and ensuring compliance Read More…
Swiggy, one of India’s largest food delivery platforms, is gearing up for a blockbuster Initial Public Offering (IPO) set for November 2024. The company has received a green light from the Securities and Exchange Board of India (SEBI) and is eyeing a massive ₹11,000 crore (₹110 billion) raise. This includes ₹5,000 crore through fresh share Read More…
In a groundbreaking move, Blinkit is offering ultra-fast delivery of the iPhone 16 to customers in Delhi, Mumbai, Bengaluru, and Pune. Thanks to a partnership with authorized Apple reseller Unicorn Stores, buyers can have the latest iPhone model at their doorstep in just 10 minutes. The service, which launched on the iPhone’s release day, also Read More…