UltraTech Cement said it has joined the RE100 initiative and the company targets to meet 100% of its electricity requirement through renewable sources by 2050. RE100 is a global group of influential businesses committed to using 100 percent renewable electricity. Its purpose is to accelerate change towards zero-carbon grids at scale.
As per a report, China Evergrande Group's electric vehicles (EV) unit has not made the latest payments to some of its employees and suppliers for factory equipment. Also, for some mid-level managers, the second installment of monthly payments has not arrived. Many equipment suppliers had begun withdrawing their on-site personnel from the Shanghai and Guangzhou sites.
Tata Motors said that its electric vehicles have achieved a cumulative sales of 10,000 units. Tata Motors offers Tigor EV and Nexon EV in the electric vehicles segment. The company has over 70% market share (year-to-date FY22).
The Defence Ministry on Friday has signed a nearly Rs 20,000 crore contract with Airbus Defence and Space of Spain to procure 56 C-295 medium transport aircraft which will replace Avro-748 planes of the Indian Air Force. Under the deal, 16 aircraft will be delivered in a flyaway condition by the Airbus Defence and Space within 48 months of signing the contract.
Cadila Healthcare said that it has entered into a definitive agreement with Shilpa Medicare, via its wholly owned subsidiary, Shilpa Biologicals for production-supply of the ZyCoV-D vaccine drug substance from its integrated biologics R&D cum manufacturing center at Dharwad, Karnataka.
As per a senior company official, Shyam Steel group plans to invest Rs 250 crore over the next two years to raise its existing steel capacity by another 50%. The company is also scouting for an opportunity for a greenfield plant in West Bengal.
Mahindra Manulife MF is launching Mahindra Manulife Asia Pacific REITs FoF. The offer will open on September 28, 2021. The scheme will invest its entire corpus in Manulife Asia Pacific REIT FoF (MAPRF), which in turn invests in REITs globally. PGIM India MF is also planning to launch a similar global REITs FoF in October, 2021.
Zee Entertainment Enterprises said its board has approved the merger of the company with Sony Pictures Networks India (SPNI). The shareholders of SPNI will also infuse growth capital into SPNI as part of the merger. SPNI shareholders will hold a 52.93% stake in the combined entity and Zee shareholders will own a 47.07% stake.
Facebook Inc said it has invested more than $13 billion in safety and security measures since 2016. It said it now has 40,000 people working on safety and security, compared to 10,000 5 years ago. The company admitted that it didn't address safety and security challenges in the product development process, but now claims to have fundamentally changed that approach.
Alphabet Inc-owned Google plans to buy an office building in Manhattan for $2.1 billion. As per CFO, the new investment builds upon their existing plans to invest more than $250 million this year in the New York campus presence.
As per the statement, Yulu has partnered with Adani Electricity Mumbai Limited (Adani Electricity) to provide day-long battery charging access across Mumbai. Adani Electricity will provide electricity to Yulu to power its electric bikes at multiple locations spread across Mumbai. Adani Electricity and Yulu plan to install over 500 battery swapping stations in the next 18 months across the city.
HDFC Bank has announced a tie-up with Paytm to start selling co-branded credit cards. The credit cards will be powered by Visa and will include offerings targeted at millennials, business owners and merchants. Paytm has a reach of over 330 million consumers and 21 million merchants.
Clubhouse has announced its first cohort of six creators from India that will be part of its accelerator programme 'Creator First'. Through this programme, Clubhouse will help these creators with production and creative development, help them promote their show, and provide financial support either through a monthly stipend or matching creators with brands.
As per sources, Didi Global Inc co-founder and President Jean Liu has told some close associates that she intends to step down and encouraged them to start looking for new opportunities. She is expecting the government to eventually take control of Didi and appoint new management.
Razorpay said it has received funding from Salesforce Ventures. The company was valued at over $3 billion in its last round of funding. It expects that the investment will strengthen its presence in the business banking space. The company also believes that Salesforce Ventures has the insight and expertise to advise Razorpay on the next stage of its growth journey.