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Greaves Cotton stock spurts 7% after arm opens EV production facility in TN

Greaves Cotton rose 7.29% to Rs 156 after the company said its e-mobility arm opened its largest EV production facility in Ranipet, Tamil Nadu. Greaves Electric Mobility, the e-mobility arm of Greaves Cotton and one of the market leaders in the E-2W and E-3W segments, inaugurated its largest EV production facility in Ranipet, Tamil Nadu. The 35-acre plant located in the Industrial Centre of Tamil Nadu, will serve as an electric mobility hub for both domestic and export markets. The plant is part of the Rs 700 crore investment roadmap announced by the company to expand its growing share in the Indian electric vehicle market.

TVS Motor to invest Rs 1,200 cr in Future Tech, EV; signs MoU with TN govt

Two and three-wheeler maker TVS Motor would invest Rs 1,200 crore in future technologies and electric vehicles over the next four years, the company said on Tuesday. A memorandum of understanding with signed in the presence of Chief Minister M K Stalin during the Tamil Nadu Investment Conclave in Coimbatore in this connection. Accordingly, TVS Motor Company Chairman Venu Srinivasan exchanged documents with Guidance Tamil Nadu MD and CEO Pooja Kulkarni IAS.

NoBroker.com becomes unicorn; raises $210 mn at $1 bn valuation

Real estate platform NoBroker.com has raised USD 210 million (Rs 1,575 crore) from investors, including General Atlantic and Tiger global to expand its business across 50 cities, a top company official said on Tuesday. Bengaluru-based NoBroker, which was launched in 2013, has raised the fund at USD 1 billion valuation to become the first unicorn in proptech sector.

RBI issues draft scheme for PMC Bank's takeover by Unity Small Finance Bank

The Reserve Bank on Monday came up with a draft scheme for the acquisition of Punjab and Maharashtra Cooperative (PMC) Bank by Delhibased Unity Small Finance Bank (USFB). The draft scheme of amalgamation envisages the takeover of the assets and liabilities of PMC Bank, including deposits, by the USFB, thus giving a greater degree of protection for the depositors, the Reserve Bank of India said. The Series E funding round was led by General Atlantic, Tiger Global Management and Moore Strategic Ventures.

Equitas Small Finance Bank partners with HDFC Bank to launch credit cards

Equitas Small Finance Bank announced its partnership with HDFC Bank for the launch of its new co-branded credit cards, to provide the company with the facilities of the banking ecosystem. The credit card can be availed in two categories. The first category is the 'Excite Credit Card' which offers a credit limit from Rs 25,000 to Rs 2,00,000 and the second category is the 'Elegance Credit Card' which offers credit of over Rs 2,00,000. This co-branded credit card is a value add to the customers who want to get rewarded.

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