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Greaves Electric Mobility sells over 10,000 units in December 2021

Greaves Cotton's e-mobility arm Greaves Electric Mobility on Sunday said it sold over 10,000 units in December 2021, with the e-three-wheelers clocking a 101 per cent growth in sales a year ago. Greaves Electric Mobility strengthens its position as a market leader in both E-2W and E-3W segments, with Ampere reporting a record almost 6X growth in revenue in December 2021 compared to the same month last year and E3W business seeing 101 per cent growth in volume terms, it said.

NTPC plans to acquire 5% equity in Power Exchange of India

State-run power giant NTPC is mulling acquiring 5 per cent equity stake in Power Exchange of India Ltd (PXIL) that provides various electricity trading options, a senior official said. The PXIL is India's first institutionally promoted power exchange, which has been providing various electricity trading solutions and connecting buyers as well sellers since 2008.

Royal Enfield posts 7% rise in wholesales at 73,739 units in December

Mid-sized motorcycle maker Royal Enfield, a part of Eicher Motors, on Saturday reported a 7 per cent increase in total wholesales at 73,739 units in December. The company had reported sales of 68,995 units in the same month of 2020. Domestic sales last month stood at 65,187 units, marginally lower than 65,492 units in December 2020. Last month, exports rose to 8,552 units from 3,503 units in December 2020.

Reliance to raise $5 bn via overseas bonds to retire existing borrowings

Billionaire Mukesh Ambani's Reliance Industries Ltd on Saturday said it will raise as much as $5 billion in foreign currency-denominated bonds and use the proceeds to retire existing borrowings. In a stock exchange filing, the company said the Finance Committee of the company board at its meeting on Saturday approved a "proposal for issuance of senior unsecured US Dollar-denominated fixed-rate notes from time to time, for an aggregate amount up to $5 billion, in one or more tranches".

ONGC without a chairman as Subhash Kumar retires; no replacement appointed

India's most valuable public sector firm by market capitalisation ONGC on Saturday became a company with no chairman and managing director after incumbent Subhash Kumar superannuated and the government did not immediately name his replacement.

FMCG distributors warn Colgate of taking strict steps over price disparity

FMCG distributors in Maharashtra have warned Colgate Palmolive India of taking strict steps after the company failed to respond to the issue of price disparity of products between traditional and business-to-business distributors. The Fast-moving consumer goods (FMCG) distributors are seeking a level playing field from manufactures and are in protest over the price disparities between the traditional trade and business-to-business retailers such as Jiomart, Walmart, Metro Cash & Carry, Booker, ElasticRun, udaan etc.

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