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Tata Motors 'to invest' Rs 7,500 cr in commercial vehicles, focus on EVs

Tata Motors will invest Rs 7,500 crore in five years in commercial vehicles (CV) as it seeks to recast the business and focus on electric vehicles (EV), the Economic Times reported on Thursday citing "people in the know". The company intends to lead the EV segment in the commercial market as it did with conventional powertrains before, Girish Wagh, executive director-- commercial vehicle business unit, told the newspaper. He expects electrification in CVs to happen first through gaseous fuels like CNG.

Tata Consumer Products extends medical cover to partners of LGBTQ staff

Tata Consumer Products (TCP) will now extend its group health insurance policy to cover partners of its employees belonging to the LGBTQ community, the company said on Thursday. The company currently has a 2,900-strong workforce globally, with over 2,000 employees in India alone. The company’s earlier policy which provided medical insurance coverage to existing employees will now allow LGBTQ employees’ partners to avail medical cover too. The new move will be effective from December 1, 2021.

Generali eyes bigger stake in India businesses as Future seeks exit: Report

Italy's Generali is in talks to raise its stake in two Indian insurance businesses as its local partner, debt-laden Future Group, looks to exit the arrangement, three people familiar with the discussions told Reuters. Generali wants to increase its stake to as much as 74% in both the life and non-life insurance entities in India from 49% currently, added the sources, who declined to be identified as the talks were private.

Baleno crosses 1-million-unit cumulative sales milestone: Maruti Suzuki

The country's largest carmaker Maruti Suzuki India on Thursday said its premium hatchback Baleno has crossed the cumulative sales milestone of 1 million units. Launched in October 2015 and sold through the company's premium retail chain NEXA, the model had crossed the 500,000 units cumulative sales in November 2018 and touched the 1 million units milestone in November this year, Maruti Suzuki India Ltd (MSIL) said in a statement.

Paytm Payments Bank receives scheduled bank status from RBI

Paytm Payments Bank has gained Reserve Bank of India approval to function as a scheduled payments bank, it said on Thursday, helping it to widen its financial services operations. Paytm Payments Bank, a niche bank that cannot lend on its own, had more than 64 million savings accounts and over Rs 5,200 crore ($688.5 million) deposits, including savings accounts, current accounts and fixed deposits with partner banks at the end of March this year, reported Reuters.

Vodafone Idea manages to raise funds, will repay bonds on schedule

Bondholders of Vodafone Idea will receive their interest in time on the due date of December 13 as the company managed to raise funds for the repayment, bankers said. The company had also fixed the record date for the next tranche of 7.77 per cent unsecured redeemable non-convertible debentures on December 20 and paid the interest on January 4 next year. The company has to pay Rs 6,000 crore to its bondholders beginning December 13 till March next year and plans to use its own cash flows and bank funds to repay its bond holders.

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