ORIENT ELECTRIC CEO
Matter Group raises USD 35 mn from US-based Helena, others
Matter Group secures a significant USD 35 million Series B funding led by Helena, with plans to deliver advanced AERA electric motorbikes in India to address global climate challenges.
Orient Electric appoints Ravindra Singh Negi as Managing Director and CEO
Orient Electric, part of the $3 billion CK Birla Group, has appointed Ravindra Singh Negi as its managing director and CEO, effective May 31, 2024. Negi, with extensive experience in electrical consumer durables, will guide the company towards sustained growth. He will be based in New Delhi and succeed Deepak Khetrapal as managing director.
China's Leapmotor set to follow BYD, MG into India; budget EV space set for intense competition
Leapmotor, which had talks going on with Sajjan Jindal-led JSW, will be following in the footsteps of its Chinese peers MG and BYD into India.
Small towns make it big for Ather’s electric two-wheeler sales
Started in 2013, Ather Energy, the fourth largest electric two-wheeler maker, has sold 2.3 lakh units cumulatively. The company sold more e-scooters in Tier 2 and 3 cities than in the metros and Tier 1 cities put together.
Jaipur customer buys over Rs 1 lakh Ather e-scooter with Rs 10 coins, CEO Tarun Mehta shares pic of owner with coin bags
A customer from Jaipur made headlines by purchasing a brand new Ather 450 electric scooter using only Rs 10 coins. The CEO of Ather Energy, Tarun Mehta, shared a picture of the proud customer surrounded by pouches of coins. Ather Energy is also preparing to launch their first family-oriented scooter, the Rizta, which will focus on comfort and practicality.
Multibagger returns in SME IPOs causing heartburn? Here’s how to plan your investments
Not all geopolitical events have the same effect on different sectors and segments of the market. One such segment is the small and medium enterprises (SMEs) sector, which consists of companies that have a market capitalization of less than Rs 500 crore and are listed on the dedicated platforms of BSE SME and NSE Emerge.
Going Public: Build something that makes revenue, serves a purpose, then look at IPO, says Ahasolar CEO
Ahasolar always believed in being a profitable company. This focus and its compliance history paved the way for a successful IPO.
Sudden CEO exits can bring protracted investor pain
On Friday, Navin Fluorine, a chemical company plummeted by as much as 15%, marking its most significant single-day decline in eight years, following the sudden resignation of its CEO. Shares of over a dozen companies, in which top executives resigned abruptly in the last one year, have seen similar falls. Only half of these stocks have managed to recover, according to an ET analysis.
India fastest growing market for Mercedes-Benz in the last few years: CEO Ola Kallenius
Kallenius, who visited India earlier this year to review operations and meet policymakers and industry leaders, said: “We had a very constructive meeting (in India). And you get a sense in India, it's like the 21st century belongs to India. There is such a buzz, such a pulse. The country is on the move … We're ready. If the Indian market takes off even faster, we're going to be there.”
Godawari forays into E2W segment, launches first electric scooter Eblu Feo at Rs 99,999
Godawari Electric Motors has launched its first electric two-wheeler, the Eblu Feo, priced at Rs 99,999. The scooter comes with a 2.52 kWh battery offering a range of 110 km. It also features three driving modes and a top speed of 60 km/hour. Deliveries will begin on August 23.
JSW Steel, Japan's JFE Steel ink agreement to manufacture electrical steel in India
"The feasibility study has since been completed and both the companies have in principle reached an agreement to establish a 50:50 joint venture company (JV). The JV shall be able to manufacture the entire range of CRGO products at Vijayanagar, Karnataka, India," JSW Steel said in a statement Monday.
Rakesh Jhunjhunwala's last stock pick hits upper circuit after leadership change
Singer India appoints Rakesh Khanna as MD & VC, who will replace Rajeev Bajaj
Stocks in news: Ultratech Cement, Orient Electric, RVNL, Wheels India, NCC
Auto companies will be in focus on Monday after the companies reported sales updates for the month of March. Maruti Suzuki and Tata Motors reported their highest-ever dispatches to dealers last fiscal, enabling the domestic passenger vehicle industry to log in best-ever performance to date.
Orient Electric MD & CEO Rakesh Khanna resigns, Rajan Gupta to take over
Rajan Gupta has been appointed Managing Director and CEO of Orient Electric Ltd, succeeding Rakesh Khanna who held the position for eight years. Gupta's appointment is set to be ratified by shareholders from 4 April 2023, and he will be with the company for five years. Gupta was previously MD and CEO of Hathway Cable and Datacom, and prior to that worked at Tata Telecom, Hindustan Coca Cola and Asian Paints. Orient Electric is part of the C K Birla Group, with interests in fans, lighting, home appliances and switchgear.
Hero Electric enters into long-term partnership with Maxwell for battery management systems
Hero Electric on Monday said it has entered into a long-term partnership with Maxwell Energy Systems for the supply of advanced battery management systems. Under the partnership, Maxwell will supply more than 10 lakh units of its battery management systems (BMS) over the next three years to Hero Electric, the company said in a statement.
Ceiling fans get costlier as BEE's revised norms mandate star labelling
Leading brands operating in the segment are Orient Electric, Havells, Crompton Greaves Consumer Electricals, Usha International, Luminous Power etc. The category is witnessing a rise in rural penetration with increased electrification, while in urban markets, the replacement cycle is getting shorter due to premiumisation, the IFMA report said.
Ahead of Market: 10 things that will decide D-Street action on Tuesday
Stocks slipped in morning trading on Wall Street Monday to kick off a holiday-shortened week. The S&P 500 fell 0.4% as of 10:15 am Eastern. The tech-heavy Nasdaq fell 0.7%.The Dow Jones Industrial Average fell 24 points, or 0.1%, to 33,725. The index held up better than the rest of the market largely because of a 7% jump by Walt Disney after the entertainment giant announced that it had ousted CEO Bob Chapek and brought back his predecessor, Bob Iger, to replace him.
Stocks in the news: Bajaj Auto, HDFC, Shriram Transport, DRL and Escorts
Bajaj Auto, the two-wheeler maker said that the Board of Directors on June 14 will consider a proposal for buyback of fully paid-up equity shares. It might be the first buyback announcement by the company since 2000.
Orient Electric Q3 results: Profit down 27% at Rs 38 crore
"The relentless increase in commodity prices during the year has been impacting all players within the industry. With a YoY growth in Cost of Goods by 15.2 per cent in Q3 FY22, OEL was no exception. Higher commodity prices have been keeping margins under pressure since Q1 FY22 and is expected to continue over the short term," said OEL in a post earning investor's release.
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