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Indian Hotels' Taj ranked world's strongest hotel brand by Brand Finance

Indian Hotels Company's Taj has been rated the world’s strongest hotel brand while Hilton (brand value up 58 per cent to US$12.0 billion) has extended its reign as the world’s most valuable hotels brand, according to the latest report from the leading brand valuation consultancy, Brand Finance. The ‘Hotels 50 2022’ annual report by the world's leading brand valuation consultancy recognizes the most valuable and strongest hotel brands across the globe.

LIC increases stake in Capri Global Capital, Hero MotoCorp and HUL

Life Insurance Corporation (LIC), one of the largest domestic institutional investors in the country, has increased its stake in Capri Global Capital Ltd from 5.04 per cent to 7.06 per cent and Hero MotoCorp Ltd from 9.163 per cent to 11.256 per cent, it informed the stock exchanges on Tuesday. It has also increased its stake in fast moving consumer goods giant Hindustan Unilever Limited from 4.995 per cent to 5.008 per cent at an average cost of Rs 2,206.93.

IPL media rights sold for Rs 48,390 cr for five years, announces Jay Shah

The BCCI on Tuesday reaffirmed its status as a cricketing behemoth by securing one of the biggest broadcast deals in the history of the sport, fetching an eye-popping Rs 48,390 crore ($6.20 billion) through IPL media rights for a five-year period, starting 2023. While Disney Star retained their Indian sub-continent TV rights with a figure of Rs 23,575 crore (Rs 57.5 crore/game), the most sought-after India digital rights deal was acquired for Rs 23,758 crore by the Reliance-backed Viacom18.

Ashok Leyland arm Switch Mobility to raise $300 mn, unveils e-bus platform

Ashok Leyland’s electric vehicle arm Switch Mobility is in talks with financial investors to raise about $300 million--$200 million for capital expenditure needs and $100 million for Switch subsidiary Ohm Global Mobility, a top company executive said. “We are looking to raise around $200 million for Switch, which will be used in improving products and capacity. In Ohm, the $100 million will be used to acquire new businesses,” said Mahesh Babu, Chief Operating Officer at Switch Mobility. Ohm Global Mobility looks into eMaaS (e-mobility as a service) and will look at the operational side, including maintenance, installation of charging points at depots and other on-ground work for Switch buses. Switch as a whole is going to invest $200-300 million over the next five years, he added. The company was reportedly planning to invest Rs 1,000 crore in a Switch-dedicated facility in South India.

Zydus Lifesciences' chairman appointed as director in RBI's board

Zydus Lifesciences on Tuesday said its chairman Pankaj R Patel has been appointed as a part time non-official director in the central board of the Reserve Bank of India (RBl). The Appointments Committee of the Cabinet (ACC) has approved the proposal of appointment of Patel for a period of four years from the date of notification of his appointment, or until further orders, whichever is earlier, the drug maker said in a statement.

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