 "A massive fire at a Tata Electronics facility in Hosur disrupted operations, but all 1,500 workers were safely evacuated.")
A massive fire broke out at the Tata Electronics facility in Hosur, Tamil Nadu, on Saturday, impacting around 1,500 workers present during the morning shift. Fortunately, there were no reported casualties, but some employees experienced respiratory issues and were treated in stable condition. The fire, which started in a chemical storage area, may have been ...
 "Workers at Samsung’s Tamil Nadu plant strike for wages and union rights, prompting government intervention amid rising tensions and disrupted operations.")
India’s Labour Minister has urged Tamil Nadu officials to quickly resolve a significant strike by over 1,000 Samsung Electronics workers near Chennai. This strike, ongoing since September 9, is one of the largest labor protests in India in recent years, with employees demanding better wages and union recognition. The Tamil Nadu plant is crucial for ...
 "M2P Fintech secures Rs 850 crore funding, eyes expansion in Africa’s growing fintech landscape and strengthening operations in Asia.")
M2P Fintech, a banking infrastructure company, recently announced it has raised Rs 850 crore in its series D funding round, with a valuation exceeding Rs 6,550 crore. The round was led by Helios Investment Partners and included existing investor Flourish Ventures. The funds will support M2P’s operations in India and aid its expansion into Africa, ...
 "Reliance Power plans to raise ₹1,524.60 crore through a preferential issue, bolstering its net worth and expanding operations.")
Reliance Power is looking to raise Rs 1,524.60 crore through a preferential issue, pending shareholder approval. The company plans to issue up to 46.20 crore equity shares and convertible warrants at Rs 33 each. This move aims to boost its net worth from Rs 11,155 crore to over Rs 12,680 crore. The board’s decision, made ...
 "Amazon India ramps up operations with new fulfilment centres, preparing for record-breaking festive sales during the Great Indian Festival 2024.")
Amazon India is ramping up its operations by adding three new fulfilment centres before the festive season, expanding its storage to over 43 million cubic feet. This move aims to support the anticipated demand during the upcoming Amazon Great Indian Festival, starting on September 27, which promises over 25,000 new product launches and around 16 ...
 "India investigates Netflix for visa violations and discrimination amid allegations, stirring drama within the streaming giant’s local operations.")
India is currently investigating Netflix’s local operations over concerns related to visa violations and racial discrimination. A government email revealed that authorities are examining allegations of tax evasion and illegal practices linked to the streaming giant. Nandini Mehta, a former Netflix executive, is pursuing legal action in the U.S. against the company for wrongful termination ...
 "SpiceJet’s 8 million share sale attracts major investors amidst financial turmoil, aiming to revive its struggling operations and fleet.")
SpiceJet Ltd. has successfully attracted bids worth $358 million for its share sale, drawing interest from notable investors such as Tata Mutual Fund and Authum Investment. This move comes as the airline, based in Gurugram near New Delhi, struggles with staff furloughs and delayed tax payments. The share sale, offered at a discounted price of ...
 "IIFL Finance, a key non-bank lender, regains RBI approval for gold loans, overcoming scrutiny to restore vital business operations.")
IIFL Finance, a leading non-bank lender, recently announced that the Reserve Bank of India (RBI) has lifted restrictions on its gold loan operations. These limitations were imposed in March 2024 due to concerns about the accuracy of gold evaluations and compliance with regulations. With the RBI’s decision now effective, IIFL Finance can resume its activities ...
 "Aditya Birla Capital secures RBI approval for merging with its subsidiary, poised to enhance capital adequacy and streamline operations.")
Aditya Birla Capital Ltd (ABCL) has received approval from the Reserve Bank of India (RBI) for merging its wholly owned subsidiary, Aditya Birla Finance Ltd (ABFL), into itself. This merger aims to create a larger and more efficient non-banking financial company. ABFL is classified as an upper layer NBFC and is required to be listed ...
 "Bluecopa, an AI-driven finance automation platform, raises .8 million for expansion and innovation in financial operations solutions.")
Bluecopa, an AI-powered finance operations automation platform founded in 2021, has successfully raised $1.8 million in a pre-Series A funding round. This investment, led by Blume Ventures, Dallas Venture Capital, and Venture Catalysts, aims to help Bluecopa expand its Market presence, enhance its AI features, and further develop its products. The company specializes in providing ...
