Zingbus generates Rs 44.6 crore in funding round led by Infoedge ventures
Tue, Jul 27, 2021 1:59 PM

Zingbus generates Rs 44.6 crore in funding round led by Infoedge ventures

Zingbus, on Tuesday, garnered Rs 44.6 crore in a funding round led by Infoedge ventures. The pre-series A round also saw participation from other investors from Silicon Valley like Funders Club, Pioneer fund, Anim Fund, Locus ventures, and Liquid 2 Ventures. The funds will be deployed to develop technology for the next leap of improvement in traveler experience and expand the service to new sites.

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Locus earmarked $4 million for ESOP buyback process
Tue, Jul 27, 2021 1:56 PM

Locus earmarked $4 million for ESOP buyback process

The supply chain platform Locus designated $4 Mn for its ESOP buyback. The buyback is at par with the primary of the Series C fundraise. Both current and former employees will be able to vest their stock options. This is the second such buyback by the company. Locus had recently raised $50 Mn in Series C funding led by GIC, Singapore’s sovereign wealth fund, among others.

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Sagarsoft (India) assigns over 8.32L equity shares on preferential basis
Tue, Jul 27, 2021 1:52 PM

Sagarsoft (India) assigns over 8.32L equity shares on preferential basis

Sagarsoft (India) Limited's Board assigned 8,32,238 equity shares of Rs.10/- each at an issue price of Rs254/- per equity share on a preferential basis in accordance with the approval accorded by the shareholders at their Annual General Meeting held on July 07, 2021. Pursuant to the Allotment, the paid-up equity share capital of the Company has been increased from Rs.5,56,00,000 to Rs.6,39,22,380.

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IPO-bound Nykaa transform into a public entity
Tue, Jul 27, 2021 1:47 PM

IPO-bound Nykaa transform into a public entity

Nykaa ahead of its public listing has transformed into a public entity. The equity shareholders of the company in a meeting on July 16 have passed a resolution to change the name of the company from FSN E-Commerce Ventures Private Limited to FSN E-Commerce Ventures Limited. Falguni Nayar-led Nykaa turned unicorn last year after it raised $13.6 Mn from Steadview Capital.

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Vedanta Board nods to Balco and Jharsuguda project expansion
Tue, Jul 27, 2021 1:40 PM

Vedanta Board nods to Balco and Jharsuguda project expansion

Vedanta's Board of Directors of the Company, on July 26, 2021, have considered and approved the Balco and Jharsuguda projects. The Balco project includes Smelter expansion by 414 KTPA at the cost of ~Rs6,611cr. The project Jharsuguda includes setting up of a new Carbon facility at the cost of ~Rs635cr for sustaining reliability and catering anode for 1.78 MTPA with future scalability to 2 MTPA.

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Justdial again reveals sensitive data of 100 Mn+ customers
Tue, Jul 27, 2021 1:35 PM

Justdial again reveals sensitive data of 100 Mn+ customers

Post a potential data leak in 2019, Justdial is back in the news for a similar vulnerability. The company exposed sensitive personally identifiable information of over 100 Mn users, according to cybersecurity researcher Rajshekhar Rajaharia, who had also flagged the earlier flaw in 2019. The unprotected database contained names of users, their email addresses, mobile numbers and DoB of users.

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Pfizer, AstraZeneca vaccine antibody levels may reduce after 2-3 months
Tue, Jul 27, 2021 1:10 PM

Pfizer, AstraZeneca vaccine antibody levels may reduce after 2-3 months

Total antibody levels start to reduce 6 weeks post complete immunisation with Pfizer and AstraZeneca shots. The antibodies may decline by over 50% in 10 weeks, according to a The Lancet journal study. The researchers from University College London found that if the antibody levels carry on dropping at this rate, there are concerns about the protective effects of the vaccines.

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Grofers ventures into instant delivery with 15-minutes delivery promise
Tue, Jul 27, 2021 1:05 PM

Grofers ventures into instant delivery with 15-minutes delivery promise

Albinder Dhindsa, the co-founder and CEO of Grofers announced that it had successfully delivered to over 7,000 households in 15 minutes on July 26. In this way, the company plans to foray into the instant delivery biz. In the last year, Grofers transformed its network of partners in Gurgaon to start sourcing directly from brands and also set up infrastructure to serve end customers faster.

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Tata Power distribution arm in Odisha collaborates with CSCs
Tue, Jul 27, 2021 12:56 PM

Tata Power distribution arm in Odisha collaborates with CSCs

Tata Power Central Odisha Distribution collaborated with authorities of Common Service Centres (CSCs) under the Digital India Programme to aid online payment of electricity bills in rural areas of the state. The partnership will aid rural consumers of the joint venture company between Tata Power and the Odisha government pay their power bills to CSCs and Village Level Entrepreneurs.

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Tata Motors-backed JLR recorded £5.0 billion revenue in Q1
Tue, Jul 27, 2021 12:49 PM

Tata Motors-backed JLR recorded £5.0 billion revenue in Q1

Tata Motors-led Jaguar Land Rover posted revenue of £5.0 billion in Q1'FY22, 73.7% higher than Q1'FY21. The figures reflected a 72.6% YoY growth in wholesales to 84,442 vehicles. However, this was 30,000 units lower than planned due to semiconductor supply constraints. The production constraint resulted in a pre-tax loss of £110 million with an EBIT margin of (0.9)%.

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Glenmark Life Sciences public issue completely subscribed on Day 1
Tue, Jul 27, 2021 12:41 PM

Glenmark Life Sciences public issue completely subscribed on Day 1

Glenmark Life Sciences public issue witnessed robust bidding on day 1 and it was fully subscribed in the noon trade. The IPO was subscribed 1.16 times (so far). The retail portion of the public offering was subscribed 2.24 times. While the portion reserved for non-institutional investors subscribed 0.18 times. The IPO opens for subscription today and the offer will close on July 29.

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Rico Auto hits new 52-week high as board nods to three subsidiaries' merger
Tue, Jul 27, 2021 12:34 PM

Rico Auto hits new 52-week high as board nods to three subsidiaries' merger

Rico Auto Industries Board of Directors, on Monday, nodded to the merger of wholly-owned subsidiary companies. They include -- Rasa Autocom Limited (RASA), Rico Aluminium and Ferrous Auto Components Limited (RAFA), and Rico Investments Limited (RIL). Post this news, Rico Auto Industries Ltd stock hit a fresh 52-week high of Rs62.15 per piece during the intraday trade on Tuesday.

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Delta Corp casinos to remain shut as govt extends Covid curfew in Goa
Tue, Jul 27, 2021 12:18 PM

Delta Corp casinos to remain shut as govt extends Covid curfew in Goa

Delta Corp Ltd has informed the updates regarding the trading on its Goa operations due to the Covid curfew. The Government of Goa has incresae the restrictions imposed on May 3, 2021, on a weekly basis and has now further extended the restrictions in the state until August 2, 2021. The company mentions that the casinos will remain shut until further notice.

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Dr Reddy's Laboratories profit declines 1.5% to Rs 570.8 crore in Q1'FY22
Tue, Jul 27, 2021 12:03 PM

Dr Reddy's Laboratories profit declines 1.5% to Rs 570.8 crore in Q1'FY22

Dr Reddy's Laboratories announced a consolidated profit at Rs 570.8 crore for Q1'Fy22, a 1.5% drop from the year-ago period. Profit in Q1'FY21 stood at Rs 579.3 crore. Revenue from operations grew by 11.4% YoY to Rs 4,919.4 crore in Q1FY22. EBITDA fell 12.3% to Rs 1,019 crore and margin declined 560 bps to 20.7% compared to the corresponding period last fiscal.

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Alembic Pharma stocks decline post lower than expected Q1 results
Tue, Jul 27, 2021 11:55 AM

Alembic Pharma stocks decline post lower than expected Q1 results

Shares of Alembic Pharmaceuticals dived considerably on Tuesday after the pharma company announced a poor set of numbers in June 2021. The drug firm details a decline in its consolidated net profit for the quarter ended June 30, 2021, it said in a regulatory filing. The company had posted a profit in the same quarter the previous year.

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