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Commercial vehicle major Ashok Leyland may look at partnerships in electric vehicles segment in future in a bid to cut huge costs involved in developing new technologies in this space. In the traditional internal combustion engine segment, the Hinduja group flagship firm, however, would like to go on in its own, having built a strong […]

Max Estates, the real estate arm of the Max Group, announced the opening of Max Towers, the company’s first office project, on the Delhi Noida Directway (DND). https://www.thehindubusinessline.com/todays-paper/tp-news/article26825436.ece

The government is considering a proposal to allow gas-based power plants to sell electricity in the spot market under a subsidy scheme. As per the proposal, the government is considering gas auction mechanism for the electricity generating units by pooling any domestic gas with LNG and subsidising the tariffs to revive about 25,000 mw projects. […]

Online payment service PayU has acquired  California-based financial technology company Wibmo for $70 million (Rs 483 crore). PayU, which is the fintech arm of South Africa’s Naspers would combine its merchant network and  Wibmo’s digital transaction security solutions to offer payments solutions to merchants and financial institutions in India and other high growth markets. https://www.business-standard.com/article/companies/nasper-s-payment-service-payu-buys-govind-setlur-s-wibmo-for-rs-483-cr-119041200868_1.html

Tata Consultancy Services (TCS) reported robust numbers both for the fourth quarter of 2018-19 and the full financial year, with the country’s largest IT services company crossing the $20-billion revenue mark for the first time. https://www.business-standard.com/article/companies/tcs-net-profit-up-17-7-to-rs-8-126-crore-in-q4-crosses-20-bn-revenue-119041300029_1.html

Premium menswear brand Blackberrys is eyeing a 20 per cent growth this fiscal as it looks to expand into smaller towns. Apart from the South, the company expects good growth in the East. Blackberrys is looking to consolidate its presence in the country. In fact, entering Tier-2/3 markets has worked well for the brand. https://www.thehindubusinessline.com/todays-paper/tp-others/tp-states/article26838914.ece

Filatex India, a polyester yarn producer, plans to invest Rs. 420 crore in capacity expansion and a cost-saving project at its Dahej plant in Gujarat. The company will increase polyester yarn production to 3.9 lakh tonnes per annum from 3.28 lt with an investment of Rs. 275 crore. https://www.thehindubusinessline.com/todays-paper/tp-news/article26825430.ece

Healthcare platform Cure.fit launched an incubator for healthy packaged food companies, and will invest $5 million (over Rs. 34 crore) in 10 such firms in the next two years. Cure. fit would support these companies in areas such as advanced health and nutrition research, consumer insights to increase product effectiveness, branding and positioning, and go-to-market […]

Tanla Solutions, a BSE-listed cloud communications provider, has completed the acquisition of Karix Mobile Pvt Ltd and its wholly-owned subsidiary Unicel Technologies from Banyan Investments for Rs. 340 crore. Banyan is owned by funds affiliated with GSO Capital Partners. https://www.thehindubusinessline.com/todays-paper/tp-news/article26812408.ece