Financial Consultant

  The Centre is planning to impose a tax on foods that are high in sugar, fat, and salt to tackle the rising obesity problem in the country,  Avaneesh Parasar The Centre is planning to impose a tax on foods that are high in sugar, fat, and salt to tackle the rising obesity problem in the country. The Centre’s think-tank Niti Aayog is reviewing the evidence to understand the actions India can take to tackle rising obesity. The think-tank mentioned in its report said that incidences of overweight and  obesity  are increasing among children, adolescents and women in India. Currently, non-branded namkeens, bhujias, vegetable chips, and snack foods attract 5% GST while for non-branded and packaged items, the GST rate is 12%. According to the National Family Health Survey (NFHS-5) 2019–20, the percentage of obese women increased to 24% from 20.6% in 2015–16, while the percentage for men rose to 22.9%. “A national consultation on the prevention of maternal, adolescent, and ...

  Ola’s current round of funding comes as the company is preparing to go public through an initial public offering (IPO) this year.  ( Avaneesh Parasar ) Cab ride-hailing aggregator Ola Cabs, operated by ANI Technologies Pvt Ltd, has raised ₹150 crore in its ongoing Series J round from Axis Growth Avenues AIF and Arrow Multi-Asset Fund, as per  VCCircle  analysis based on the regulatory filings. Ola has issued 66,268 Series J1 preference shares at a price of ₹22,635 per share in order to raise ₹150 crore. Axis Growth Avenues AIF has invested ₹112.5 crore in this tranche, while Arrow Multi has put in ₹37.5 crore, the filings show. Last month , Axis Growth Avenues AIF had also participated in Swiggy’s $700 million round. In the  previous fundraising in December 2021 , Ola had racked up ₹1,049 crore ($139 million), from 25 investors as part of its Series J round by issuing 4,63,471 cumulative series preference J1 shares at a premium of ₹22,625 per share. at a valua...

  Hero MotoCorp Ltd. will collaborate with public sector giant Bharat Petroleum Corporation Ltd. to set up charging infrastructure for two-wheeled electric vehicles (EVs) across the country.  Avaneesh Parasar Hero MotoCorp has become the first automotive OEM to tie up with the leading PSU to set up charging infrastructure across the length and breadth of India, the two-wheeler major said in a statement. “The partnership with BPCL, which is already at the forefront of customer energy solutions, will be beneficial for both the EV segment and customers. This collaboration will also unlock opportunities for asset allocation and expansion in the future,” said Hero MotoCorp CMD Pawan Munjal The two entities will first establish a substantial charging infrastructure at the existing nationwide energy station network and subsequently may broaden the collaboration to develop more synergies within the EV ecosystem and adjacent business verticals, thereby enabling prospects throughout the...

  Ratan Tata, who was a special invitee to the board meeting expressed his satisfaction on the progress and performance of the Tata Group under the leadership of N Chandrasekaran.  Avaneesh Parasar Tata Sons Pvt Ltd board on Friday considered and approved the re-appointment of its executive chairman N Chandrasekaran for another five years. Ratan Tata, who was a special invitee to the board meeting expressed his satisfaction on the progress and performance of the Tata Group under the leadership of N Chandrasekaran. He recommended his term be renewed for a further five-year period. The continuity in leadership comes as the 154-year-old conglomerate that makes salt to luxury sedans, is working on an all-in-one ecommerce superapp — one of Chandrasekaran’s key projects — to market its swathe of consumer products and services as part of a digital makeover. The group is also reinventing its aviation businesses after successfully acquiring Air India Ltd. from the federal government la...

  The Directorate General of Foreign Trade (DGFT) has banned the import of foreign drones with certain exceptions to promote their local manufacturing.   Avaneesh Parasar NEW DELHI/BANGALORE  : The Union government’s Wednesday night decision to ban the import of drones will drive rapid advancements in domestic drone manufacturing, industry executives said. However, this would be bad news for drone enthusiasts, who import them for photography, video and other leisurely activities. “If you see the fine details of it (the notification), it is a good thing for us. They have actually given clarity on the import of components. Earlier, there was none,” said Swapnik Jakkampudi, co-founder of Skye Air Mobility, a drone delivery technology company. “On the back of the PLI (production linked incentive) scheme and greater demand for drones, we hope most of the electronic components that have to be imported can be procured locally soon,” Jakkampudi added. The Directorate General of F...

  Homegrown social commerce platform Meesho on Monday announced a first-of-its-kind Boundaryless Workplace Model,  Avaneesh Parasar Through this model, the firm is giving its employees the power to choose to work from home, office or any location of their choice. With a focus on seamless employee experience, Meesho will enable its workforce with real-time and virtual collaboration tools. “Driven by our mantra to build a people-centric workplace, Meesho has always ensured employees are at the core of everything we do. We have been championing many industry-first initiatives that have redefined conventional workplace norms and this new policy is a step in that direction,” Ashish Kumar Singh, Chief Human Resources Officer, Meesho said. Prov i ding opportunities for teams to even meet and collaborate in-person, the company is introducing initiatives like trips to attend quarterly summits and an annual workation in locations like Goa. To support working parents, Meesho will sponsor...