India

Narayana Murthy regrets not letting Sudha Murty join Infosys
05 Jan

Narayana Murthy regrets not letting Sudha Murty join Infosys

Priyanka Bhowmick0 CommentsBusiness, India,
Infosys co-founder Narayana Murthy says he now regrets the decision to keep his family out of the company. Murthy, who co-founded Infosys in 1981 with a loan of Rs 10,000 from his wife Sudha Murty, never allowed her to join the firm even though he believed her to be more qualified than the other co-founders. "I had this feeling that good corporate governance means not bringing the family into it," he said when asked by CNBC-TV18's Shereen Bhan why he didn't let his wife, who gave him seed money, join Infosys. "Because in those days, it was just family-owned, all…
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Karan Adani appointed as managing director of Adani Ports
04 Jan

Karan Adani appointed as managing director of Adani Ports

Priyanka Bhowmick0 CommentsBusiness, India,
Adani Ports and Special Economic Zones Limited (APSEZ) has announced a top-level reshuffle with Chief Executive Officer (CEO) Karan Adani elevated to the role of Managing Director.In a board meeting held on Wednesday, the directors also approved the appointment of Ashwani Gupta, former global chief operating officer of Nissan Motors, as the new CEO. The position of managing director was earlier held by founder Gautam Adani (who was the chairman and MD).He has now been re-designated ‘executive chairman’ of the company.Adani Ports said in a statement after market hours that under the leadership of Karan Adani as CEO, it has…
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Ola Electric records over 30,000 registrations in December
03 Jan

Ola Electric records over 30,000 registrations in December

Priyanka Bhowmick0 CommentsBusiness, India,
Ola Electric announced that it recorded 30,219 registrations in December and captured 40 percent market share in the EV two-wheeler segment (according to VAHAN Portal). The company said it registered its highest monthly sales in the month and 74 percent year-on-year growth compared to the same month last year. Additionally, it registered a quarter-on-quarter (q-o-q) growth of 48 percent with 83,963 registrations in the December quarter and 68 percent growth over the same quarter last year. Also, Ola Electric reached the milestone of producing four lakh scooters in two years. The company has emerged as the first-ever EV two-wheeler manufacturer…
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Amitabh Bachchan rents 4 commercial units of Mumbai property for ₹2.07 crore per year: Reports
30 Dec

Amitabh Bachchan rents 4 commercial units of Mumbai property for ₹2.07 crore per year: Reports

Priyanka Bhowmick0 CommentsEntertainment, India, ,
Bollywood actor Amitabh Bachchan has rented four commercial units measuring around 10,000 square feet in Mumbai's Oshiwara area for an annual rent of Rs 2.07 crore and a security deposit of Rs 1.03 crore. The commercial space has been leased to Warner Music India Limited for five years. According to documents accessed by Propstack.com, the annual rent will increase to Rs 2.38 crore from the fourth year onwards. Bachchan bought four office spaces above in Oshiwara in August 2023. The four units were bought by Bachchan for Rs 7.18 crore each. Along with Bachchan, Kartik Aryan, Manoj Bajpayee and Sarah…
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Zomato slapped with INR 401 Crore tax notice
29 Dec

Zomato slapped with INR 401 Crore tax notice

Priyanka Bhowmick0 CommentsBusiness, India,
Food delivery giant Zomato has received a Good and Services Tax (GST) notice on a tax liability of ₹401.7 crore. The Directorate General of GST Intelligence (DGGI) had sent tax notices to Zomato and Swiggy for not paying GST on delivery charges and said that delivery charges fall under the services category and companies are liable to pay 18 percent GST. Zomato responded to a show-cause notice issued by DGGI and said that it is not liable to pay any tax and said, "Delivery charges are collected by the company on behalf of the delivery partners. Further, as per the…
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Jio working on Bharat GPT with IIT Bombay
28 Dec

Jio working on Bharat GPT with IIT Bombay

Priyanka Bhowmick0 CommentsBusiness, India, Sikkim,
Reliance Jio Infocomm, India's largest telecom services provider, is working with the Indian Institute of Technology Bombay to launch 'Bharat GPT', a large language model tailored specifically for India's needs, chairman Akash Ambani said. Speaking at the annual IIT Bombay TechFest, Ambani said the company is "extensively thinking" about launching an operating system for smart televisions. "We are working on a project with IIT Bombay to launch the India GPT program," he said, referring to the partnership between Jio and the premier tech institute that goes back to 2014. Ambani outlined Jio's ambitious AI plans, "aiming to integrate it horizontally…
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Adani family plan to invest Rs 9,350 crore in green energy arm
27 Dec

Adani family plan to invest Rs 9,350 crore in green energy arm

Priyanka Bhowmick0 CommentsBusiness, India
Adani Green Energy (AGEL) on December 26 said its board of directors has approved a priority issuance of warrants to promoters for an amount of Rs 9,350 crore at Rs 1,480.75 per share. The funds will be used to reduce and accelerate capital expenditures, the company said. It added that AGEL is now fully equipped to achieve its target of 45 GW by 2030, with 20.6 GW of installed capacity, over 2,00,000 acres (equivalent to 40 GW of additional capacity) of secured land in India's resource-rich areas, and an additional equity infusion of Rs 9,350 crore which fully funds this…
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Ola’s Bhavish Aggarwal launches Krutrim, India’s own AI
16 Dec

Ola’s Bhavish Aggarwal launches Krutrim, India’s own AI

Priyanka Bhowmick0 CommentsBusiness, India, Tech Byte,
Ola founder Bhavish Aggarwal on Friday announced a "made for India" ChatGPT equivalent that he said will support 10 Indian languages. Several enterprises in India are working on similar initiatives, partly based on the government's Bhashini Mission which is creating a database of Indian languages ​​that can be used to train AI models.Called Krutrim, Sanskrit for artificial, Aggarwal's AI company will have a distinct identity from Ola's mobility and EV business. Agarwal says the company was incorporated in April as Krutrim SI Design with teams based in Bengaluru and San Francisco.Krutrim will debut in January with a beta version that…
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Swiggy user in Mumbai ordered food worth Rs 42 lakh in 2023
15 Dec

Swiggy user in Mumbai ordered food worth Rs 42 lakh in 2023

Priyanka Bhowmick0 CommentsBusiness, India,
Want to know how much India Swiggy'd this year? Well, food delivery juggernaut Swiggy has just dropped its annual culinary data – the 2023 'Swiggy Wrap' report. And remember, the report isn't your typical snoozefest; It's a delicious journey filled with 'tasty' news about Swiggy's top customers and eye-popping orders. After all, a Mumbai resident stole the spotlight as one of Swiggy's high rollers, spending Rs 42.3 lakh on food throughout the year. pause Yes, you read that right – a small fortune in gastronomic delight! The internet collectively rubbed its eyes in disbelief at this culinary scene, doing a…
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Karnataka approves Foxconns additional investment proposal worth Rs 13,911 crore: MB Patil
14 Dec

Karnataka approves Foxconns additional investment proposal worth Rs 13,911 crore: MB Patil

Priyanka Bhowmick0 CommentsBusiness, India,
Karnataka's State High-Level Clearance Committee (SHLCC), headed by Chief Minister Siddaramaiah, on December 12 approved Foxconn's investment of an additional Rs 13,911 crore. Karnataka's Large and Medium Industries and Infrastructure Development Minister MB Patil said the company was earlier approved to invest Rs 8,000 crore in the state. "SHLCC has approved Foxconn's proposal to invest an additional ₹13,911 crore", he said. Officials said the additional investment has been earmarked for a manufacturing facility within the Information Technology Investment Zone (ITIR) industrial area at Doddallapur in Devanahalli Taluk. In May 2023, Hon Hai Precision Industry (Foxconn) acquired land worth Rs 300…
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