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Cars24 and Bajaj Finance partner to provide financing to used car buyers

Cars24, a leading e-commerce platform for pre-owned vehicles has collaborated with Bajaj Finance Ltd., to lift the veil from used car financing and facilitate a quick, frictionless and streamlined shopping experience. This move follows a Series G funding round announced in December 2021 where the firm raised $400 million at a $3.3-billion valuation. While the consumer demand for pre-owned vehicles is skyrocketing, the consumer financing penetration in the Indian used cars industry stands at only about 15 per cent. Realizing the key role financing plays when investing in a car, Cars24 and Bajaj Finance Ltd., are enabling consumers by improving their financial flexibility and providing greater accessibility of owning a car.

HCL Technologies subsidiary boosts stake to fully own Actian Corporation’s parent

HCL America, the wholly-owned subsidiary of HCL Technologies, has acquired the balance 19.6 percent stake to own all shares in HCL Technologies SEP Holdings Inc, which is the sole parent company of Actian Corporation. It did this by buying out the minority partner reportedly for $100.2 million (Rs 746.8 crore).

Kalpataru Power Transmission bags new orders worth Rs 1,560 crore

Kalpataru Power Transmission Ltd on Thursday said that it has bagged new orders worth Rs 1,560 crore. "Kalpataru Power Transmission Limited (KPTL), a leading global EPC player in the power and infrastructure contracting sector, has secured new orders/notifications of award of Rs 1,560 crores," the company said in a statement. According to the statement, the orders include those from India, Africa, CIS and South America in the power transmission business.

Granules India gets USFDA nod for its generic Amphetamine mixed salts

Granules India Ltd on Thursday said it has received approval from the US health regulator for its generic Amphetamine mixed salts indicated for the treatment of Attention Deficit Hyperactivity Disorder (ADHD) and narcolepsy. The approval granted by the US Food and Drug Administration (USFDA) to Granules Pharmaceuticals, Inc (GPI), a wholly-owned arm, is for the abbreviated new drug application (ANDA) of amphetamine mixed salts of strengths 5mg, 7.5mg, 10mg, 12.5mg, 15mg, 20mg and 30mg immediate release tablets, the company said in a statement. It is bioequivalent to the reference-listed drug product (RLD), Adderall of Teva Women's Health Inc, it added.

RBI approves appointment of Rajeev Ahuja as interim CEO of RBL Bank

The Reserve Bank of India (RBI) has approved the appointment of Rajeev Ahuja as Interim Managing Director & Chief Executive Officer (MD&CEO) of the RBL Bank Ltd for a period of three months with effect from December 25, 2021 or till the appointment of a regular MD & CEO, whichever is earlier, the lender said in a stock exchange filing on 30 December.

IndiGo EGM: CEO Ronojoy Dutta assures shareholders of stronger recovery

IndiGo's chief executive officer Ronojoy Dutta on December 30 assured shareholders of the airline that the company will emerge stronger after facing nearly two years of uncertainty due to the COVID-19 pandemic. Speaking at the extraordinary-general meeting (EGM) of InterGlobe Aviation, Dutta said that while at the moment, flight bookings have taken a hit given the outbreak of the Omicron variant of COVID-19, the aviation industry in India is still showing strong signs of recovery and any fall in bookings is likely to be temporary.

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