Author: sampoorna.gupta

Today, Bharti Airtel introduced an unlimited data plan for customers of its fifth-generation (5G) cellular services, intensifying its conflict with Mukesh Ambani-owned Reliance Jio. The telecom provider announced in an exchange filing that it is abolishing the data use cap from all current plans. All postpaid customers and prepaid consumers with data plans costing Rs. 239 or more would be eligible for the promotion, according to Airtel. Airtel is now providing an opportunity for its users to experience 5G technology with the launch of the Unlimited 5G Data offer. Customers who have a compatible plan, a 5G-enabled device, and access…

Real estate giant DLF has made headlines once again with the sale of 1,137 flats in Gurugram in just three days, raking in over Rs 8,000 crore. This impressive feat comes as a significant boost to the company, which had seen a slump in sales due to the ongoing pandemic. The flats, located in DLF’s luxurious residential projects in Sector 63- Gurugram, were sold through a digital platform that allowed customers to explore the properties virtually and make bookings online. The response to this virtual sales model was overwhelming, with the company receiving an unprecedented number of bookings. For its…

The co-founder of Flipkart, Binny Bansal, is thinking about investing $100 to $150 million in the online payment system PhonePe. According to a story, the development was discovered as the digital payments startup was conducting a financing round. If it is a success, the investment will rank among the largest one-off investments in a modern business. The article claimed, citing an individual with knowledge of the situation, “The sum that he (Binny Bansal) will invest has not yet been determined. The ongoing negotiations will probably come to an end soon.” General Atlantic, Tiger Global, Ribbit Capital, and other investors have…

The acquisition of Mimosa Networks by Jio Platforms, a subsidiary of Reliance Industries Ltd.’s Indian conglomerate, would cost $60 million and will help Jio Platforms’ rapidly growing 5G and internet offerings The agreement is between Mimosa’s owner, US-based Airspan Networks Holdings, and Radisys Corp, a division of Jio Platforms. The company, through Jio, is expanding 5G and broadband services throughout the nation after purchasing airwaves worth $11 billion in a 5G spectrum auction last year. Jio is India’s top telecom service provider. According to the statement, Reliance Jio Infocomm USA, a division of Jio, is a shareholder in Airspan and…

With a fleet of SUVs, Maruti Suzuki is reclaiming the nation’s roads. Although losing market share to the “original” SUV big boys Mahindra and Mahindra and Tata Motors over the previous three years, India’s largest automaker by unit sales has recently capitalised on rising consumer demand for this vehicle body type. And leading that effort are the mint-fresh Vitara and Brezza. Maruti Suzuki has started applying more pressure to Tata Motors, Mahindra & Mahindra, and Hyundai in the quickly expanding sports utility vehicle market, fueled by demand for the recently released Brezza and Vitara models. Maruti Suzuki increased from 8.8%…

The largest motorbike and scooter manufacturers in the world, Hero MotoCorp, and Zero Bikes, a premium electric motorcycle and powertrain company based in California (USA), have signed agreements to work together on premium electric motorcycles. Zero Motorcycles, a company that specializes in creating powertrains and electric motorcycles, is partnering with Hero MotoCorp, a company with extensive experience in manufacturing, sourcing, and marketing. Hero MotoCorp’s board approved an investment of up to $60 million in Zero Motorcycles in September 2022. Zero Motorcycles is known for being the leader in electric motorcycles and powertrains worldwide, using a combination of Silicon Valley technology…

In February, India’s imports of crude oil from Russia reached a record high of 1.6 million barrels per day (bpd), surpassing the sum of imports from its two main suppliers, Iraq and Saudi Arabia. According to energy cargo tracker Vortexa, Russia maintained its position as the sole major supplier of crude oil, which is refined into gasoline and diesel at refineries, for a fifth consecutive month by providing more than one-third of all the oil India purchased. Refiners keep buying up numerous shipments that are priced lower than other grades. Russia’s market share in India’s imports increased to 1.62 million…

According to reports cited by the media, Tata Motors has started discussions with sovereign wealth funds and private equity investors about selling a stake in its electric vehicle (EV) business to raise $1 billion. The corporation intends to sell a sizable minority stake with a target market value of $10.5 billion. Among the funds and investors are Abu Dhabi Investment Authority (ADIA) and Mubadala Investment Company, both with headquarters in the United Arab Emirates, the Public Investment Fund, with its main office in Saudi Arabia, Temasek Holdings, with its headquarters in Singapore, as well as KKR and General Atlantic. According…

One of the largest layoffs ever planned by the multinational management consulting firm McKinsey & Co. could result in the loss of 2,000 jobs. The business, which is renowned for developing staff reduction plans for its customers, is currently letting go of some of its employees. Under a plan dubbed Project Magnolia the McKinsey management team anticipates that this choice will contribute to safeguarding the incentive pool for the partners. The corporation is reportedly attempting to overhaul how it organises its support teams in order to centralise some of the responsibilities after experiencing a considerable growth in roles over the preceding…

Thousands of recent graduates who have been waiting a year for Wipro to hire them are now receiving amended offer letters with lesser compensation. In December 2021, Wipro made job offers to some of these IT newcomers. Once classified as “Elite” applicants, they came at a cost to the corporation (CTC) of Rs. 3.5 lakh. If the same individuals successfully finished what Wipro referred to as the “Velocity” programme, they would be promoted to the “Turbo” category with a higher salary of Rs 6.5 lakhs. A new offer letter with a salary of Rs 6.5 lakh was made to a…