Search Results

< Back Reliance Retail buys 51% stake in Alia Bhatt's Ed-a-mamma Ishita Nigam 7 Sept 2023 Reliance Retail signed a JV and plans to expand the kids and maternity wear brand to personal care, baby furniture, childrens' books, and an animated series. Reliance Retail Ventures (RRVL) signed a Joint Venture agreement with Alia Bhatt’s Ed-a-mamma and acquired a 51% stake in the baby and maternity clothing brand. Alia Bhatt launched the brand in 2020 as a sustainable clothing line for 2- to 12-year-olds. It expanded to include maternity, infant, and toddler apparel in October 2022. Reliance plans to introduce sustainable personal care, baby furniture, kids’ storybooks, and even an animated series for children. Ed-a-mamma is known to avoid using plastic buttons and refurbishing used fabric to make hair ties. The brand also includes seed balls with each garment sold. Ed-a-mamma started as an online-only store but gradually expanded offline. The company plans to leverage Reliance’s extensive omnichannel network of more than 18,500 stores and eCommerce platforms. Reliance runs the online fashion portal Ajio.com and owns the rights to Gap in the fashion domain in India. Previous Next

< Back Madhya Pradesh launches intrastate air taxi service 14 Jun 2024 The service, called PM Shri Paryatan Vayu Seva, is available at 50% off for 30 days from June 13th. On June 13, Madhya Pradesh Chief Minister Mohan Yadav launched the first PM Shri Paryatan Vayu Seva from Bhopal to Jabalpur. The one-way trip will take 55 minutes compared to four hours by road. The service will connect eight cities in Madhya Pradesh- Bhopal, Jabalpur, Indore, Gwalior, Singrauli, Ujjain, Khajuraho, Panchmarhi, and Rewa. The state government partnered with a private firm, Jet Serv Aviation Private Limited (Flyola), to launch this service. Passengers can book the service digitally or via the booking counter at Indore, Bhopal, and Jabalpur airports. Twin-engine planes will have a capacity of six passengers. Depending on the response, the capacity will be increased to 11-seater and 20-seater aircraft. Ticket prices are kept at ₹9,000 from Bhopal to Jabalpur and ₹15,000 from Bhopal to Khajuraho. Passengers can book the entire private charter or on a seat-sharing basis. The CM will inaugurate this service in Ujjain on June 16th. Previous Next

< Back Union govt directs Mumbai airport to reduce flights from this week 13 Feb 2024 The move will force airlines to cancel up to 40 daily flights, besides charters, to ease congestion and improve on-time flight performance. The Union government asked the Mumbai airport to reduce the number of daily flights and restrict business jet movement to curb congestion. Mumbai is the second busiest airport in the country after Delhi. Airports Authority of India (AAI) directed the airport to decrease aircraft movement from 46 to 44 during peak hours and from 44 to 42 during non-peak hours. This will push IndiGo to curb at least 18 flights per day, the highest number of daily departures. The Air India Group, including Vistara, will have to reduce 17 daily flights. Moreover, the curfew on daily operations of business jets has been spiked from four to eight hours. This has drawn protests from Reliance Industries, Mahindra Group, and JSW. The airport’s declining on-time performance led to this directive. Airport network operators said this could incite severe challenges related to aircraft redeployment and compensation payouts to affected passengers, causing financial losses. Previous Next

< Back Airtel in talks to buy Tata Play 8 Oct 2024 It acquired Tata’s consumer mobility business in 2017 and absorbed it after two years. Tier 1 and 2 customers are opting for OTT packs over DTH, and rural subscribers are choosing Doordarshan Free Dish. Hence, Airtel is ready to strike a second deal with the Tata Group to boost its presence in the OTT segment. Tata Play, formerly Tata Sky, is the market leader with 20.77 million users and a 32.7% share. Airtel ranks second with a 27.8% share. Tata Play removed some Sony channels to cut the losses, leading to a spat between the two. Tata Sons bought Temasek Holding’s 10% stake in Tata Play for ₹835 crore in April, thus bringing its ownership to 70% and company valuation to $1 billion. Airtel may buy Tata Play for a similar amount as the Temasek deal. After merging with 21st Century Fox, Walt Disney absorbed Sky’s 30% stake in Tata Play. Disney now plans to quit TV distribution after its merger with Reliance Jio. Previous Next

< Back Italy’s Fontana Gruppo acquires 60% stake in Nashik’s RTF 4 Mar 2025 It is among the biggest foreign investments made in the Indian auto parts industry. Nashik-based Right Tight Fasteners (RTF) will acquire Aurangabad-based BG Fastening and Engineering, Fontana Gruppo’s existing operations in India. Then, Fontana Gruppo will invest ₹1,000 crore to buy 60% stake in RTF. RTF is India’s second largest automotive fastener maker. It operates four facilities in Maharashtra, Uttarakhand, and Tamil Nadu and supplies parts like nuts, bolts, and screws to M&M, Ashok Leyland, Tata Motors, Royal Enfield, Ola Electric, and Bajaj Auto. RTF’s leadership will spearhead the new entity, which will become one of the largest fastener makers in India. In February, the Carlyle Group, a private equity firm, acquired a 70% stake for $400 million in the entity combined after the merger of Roop Automotives and Highway Industries. In 2024, Bain Capital invested in RSB Transmissions. In 2022, Warburg Pincus acquired a controlling stake in Imperial Auto Industries, and Cummins bought a 26% stake in Automotive Axles for $76 million. Never miss another post from SalestorrsNews150. Follow Salestorrs on WhatsApp , LinkedIn , Facebook , X , and Instagram . Previous Next

< Back Amazon speeds up Q-commerce service Tez launch 25 Nov 2024 It plans to launch it by late December 2024 or early 2025. Amazon is expediting its entry into the Indian quick commerce sector, worth almost $6 billion. Its fast delivery service called Tez, expected to be launched in the first quarter of 2025, is now slated to launch in the next two months. Amazon Tez will prioritise groceries and daily essentials. The company is focusing on establishing dark stores, finalising stock-keeping units (SKUs) and creating logistics infrastructure for superfast deliveries. It may finalise the launch date during its review meeting ahead of the annual Smbhav event planned on December 9th and 10th. This launch will mark Amazon’s global debut in this segment, making it the only e-commerce giant to venture into quick commerce. Amazon has started fresh hiring for Tez. Flipkart launched Minutes before Diwali, and Tata’s BigBasket transitioned to a q-commerce model and recorded ₹900 crore in gross sales in October. Tata Digital also introduced Neu Flash. Previous Next

< Back Navi Mumbai airport launch on Oct 8 6 Oct 2025 Operations will begin in December and handle around 12 aircraft movements every hour. The Navi Mumbai airport is set to begin operating 12 hours a day in December. It will initially handle 12 flights per hour, increasing to 30 per hour within three months. The airport sprawls over 1,160 hectares and has been developed for ₹19,647 crore. It has been built in five phases, the first of which can handle 20 million passengers annually along with 5 lakh tons of cargo. Once operational, the facility will feature two parallel runways and four terminals, with an annual capacity of 90 million passengers and 3.25 million tons of cargo. The airport is a joint venture between the Adani Group, which holds a 74% stake, and the Industrial Development Corporation of Maharashtra. To date, Mumbai has been among the world's most populated cities served by a single airport with just one runway. The present Mumbai airport handles around 55 million passengers yearly and cannot grow further. Check out my new book, THE BLACK FLAMES , on Amazon Kindle. A gripping, high-stakes novel. ⭐⭐⭐⭐.6 stars on Amazon ⭐⭐⭐⭐⭐ on Goodreads Previous Next

< Back Airtel shuts Wync Music, will offer Apple Music at discounted prices 29 Aug 2024 All Wync employees will be absorbed In the Airtel ecosystem. Airtel has partnered with Apple Inc. to offer discounted rates on OTT videos, Apple TV+, and Apple Music streaming to its Xtream fibre customers. As part of the move, it is shutting down Wync Music ten years after its launch. Wync has been generating ₹250-300 crore annual revenue as a part of Airtel's digital services arm. Apple's discounted services will be available exclusively to Airtel customers by the end of this year. This deal will be a carrier billing alliance that will help Airtel offer enhanced streaming services to its customers with a focused monetisation plan. It will allow Apple access to a quality audience and monetise its OTT streaming services in India. In 2023, of the 185 million active users of online Music streaming apps, only 7.5 million paid for a subscription. Airtel tried an alliance with Times Internet and the Gaana app, but the talks didn't succeed. Previous Next

< Back Chinese tariff war benefits Indian aviation, semiconductor sectors 23 Apr 2025 Air India plans to buy Boeing planes rejected by China due to its ongoing tariff war with the US. China asked airlines to reject American-made Boeing aircraft and equipment deliveries. It plans to assist Chinese carriers who lease Boeing aircraft and incur higher costs. Air India needs more aircraft fitting its revival plans and may take the rejected aircraft from Boeing. Malaysia Aviation Group Bhd is also vying for the rejected planes. Air India bought 47 Boeing 737 Max planes in 2019, the last time the US engaged in a tariff war with China during Donald Trump’s first term. Tesla is discussing procurement with semiconductor facilities in India, like CG Semi and Tata Electronics, and the Gujarat-based American conglomerate Micron. Tata AutoComp, Tata Technologies, and Tata Consultancy Services are Tesla’s existing global suppliers. China is a global semiconductor manufacturing and packaging leader. Tesla is trying to shift its focus to other suppliers for diversification. International laptop makers like Dixon, Syrma SGS, and Asus are setting up bases in India. Never miss another post from SalestorrsNews150. Follow Salestorrs on WhatsApp , LinkedIn , Facebook , X , and Instagram . Previous Next

< Back India, Nvidia in talks to develop AI semiconductor chip 22 Oct 2024 Nvidia aims to create a chip specifically designed for the Indian market, and the Indian government is assessing its potential. Prime Minister Narendra Modi and Nvidia CEO Jensen Huang started discussing a potential alliance during their meeting in the US this year. The discussions are in a preliminary stage, while the government is analysing the cost implications and potential benefits of the AI chip for Indians. Arm or AMD, Nvidia’s partners, are expected to design the core, and the Centre for Development of Advanced Computing (C-DAC), a government-owned entity or private firms will develop the top layer. This chip could be used for the Indian Railways security system, Kavach, and other startups and enterprises if the government makes it accessible as a part of India’s AI mission. Nvidia, the world’s second most valuable company after Apple, aspires to leverage India’s massive semiconductor chip designing talent to make a chip specifically for the Indian market. As per a Boston Consultancy Group study, India accounts for 19% of the world’s chip designers. Previous Next

< Back Byju’s to settle BCCI’s ₹158 crore dispute within 10 days 1 Aug 2024 Byju Raveendran’s brother and largest shareholder, Ravi Raveendran, will pay BCCI in three instalments over the next ten days. Distressed ed-tech startup Byju’s signed a three-year jersey sponsorship with the Board of Control for Cricket in India (BCCI) in March 2019. It renewed the agreement for another year in June 2022 but had to seek termination in November 2022 due to a paucity of funds. In September 2023, BCCI initiated insolvency proceedings against Byju for failing to pay ₹158 crores. The National Company Law Appellate Tribunal (NCLAT) admitted this plea last month. On July 30th, Ravi Raveendran’s advocate said that the amount would be paid in three instalments over the next ten days. Meanwhile, a group of US lenders has opposed the settlement, claiming that the money Ravi Raveendran is offering BCCI belongs to them. With this development, the NCLAT did not pass an order on Byju Raveendran’s challenge to the insolvency proceedings. Instead, it asked the company’s counsel to submit an underwriting revealing the source of these funds. Previous Next

< Back Uber to start bus shuttle services in Delhi 20 May 2024 It received the license under the Delhi government’s Premium Bus Scheme, an app-based bus aggregator scheme launched in November 2022 to encourage the upper middle class to choose public transport. Uber became the first aggregator to receive a license from the Delhi transport authority under the Premium Bus Scheme. The company can run shuttle bus services in the national capital region. The app allows users to book seats in the bus up to seven days in advance and track live location, bus route, and expected arrival time. The company ran a pilot programme for Uber Shuttle last year in Delhi-NCR and has been operating in Kolkata since 2023 under an MoU with the West Bengal government. Uber Shuttle will connect Delhi’s commercial and residential areas. Operated by local fleet associates, these buses will seat 19-50 people. India is the second country after Egypt, where Uber launched the bus shuttle service. The Premium Bus Scheme allows private operators to operate AC luxury buses with seating for at least nine people. The buses offer WiFi, CCTV, GPS, panic buttons, and reclining seats. Previous Next