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Ola to invest up to Rs 786 crore in Ola Financial Services

Ola is making an investment of up to Rs 786.1 crore in Ola Financial Services (OFS), which will now become a 100 per cent subsidiary of the ridehailing platform, as per regulatory documents. As per documents submitted by ANI Technologies (which operates Ola) to the Registrar of Companies (RoC), Ola has received the nod to "make an investment in Ola Financial Services Pvt Ltd up to Rs 786,64,12,400 in-kind consideration against swap of shares of the company".

Macrotech Developers rallies 6%, hits new high on growth prospects

Shares of Macrotech Developers (Lodha) rallied 6 per cent to Rs 1,516, hitting a new high on the BSE in Tuesday’s intra-day trade, on strong growth plans. Macrotech Developers plans to nearly double its pre-sales to Rs 14,000 crore by financial year 2023-24 (FY24) and further grow to Rs 20,000 crore by FY26. Lodha intends to grow in under-represented micro markets of Mumbai Metropolitan Region (MMR) and Pune in a capital efficient manner. The company is also exploring plans to enter into the Bangalore market to cater to the needs of even better quality development in a city which is seeing significant creation of technology jobs and wealth creation.

Samsung, Acer bid for UP govt's tablet and smartphone scheme

Consumer electronics giants including Samsung and Acer have bid for the Rs 4,700 crore populist free tablet and smartphone scheme in Uttar Pradesh. These gadgets will be distributed to nearly 6.8 mn higher and technical education students. The government has estimated to incur Rs 2,500 cr and Rs 2,200 on tablets and smartphones respectively.

Panasonic India expands ESL and Digital SignEdge business

Diversified technology company Panasonic India on Tuesday announced the expansion of its electronic shelf labelling (ESL) and Digital SignEdge 2.0 solutions business. These tech-enabled display solutions have been designed to increase operational efficiencies for retailers and enterprises, the company said in a statement.

Shakti Pumps makes foray into manufacturing of motors, chargers for EVs

Shakti Pumps India on Tuesday said it is making a foray into the manufacturing of motors, chargers, controllers and drives for electric vehicles, through a wholly-owned subsidiary. The company's board recently approved the incorporation of a whollyowned subsidiary to make a foray into the EV segment with the manufacturing of motors, chargers, controllers and multi-application component variable frequency drives (VFDs) for electric vehicles, Shakti Pumps India said in a statement. Walmart announces MoU with MP government to train and support MSMEs Walmart and its subsidiary Flipkart on Tuesday announced they will sign a Memorandum of Understanding (MoU) with the Madhya Pradesh government to create an ecosystem of capacity building for MSMEs in the state.

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