Mahindra NuvoSport: Mahindra & Mahindra has been on a launching spree of late, with the latest one being the KUV100 – the company’s entry-level subcompact SUV. On Tuesday, the company announced to launch yet another vehicle called the NuvoSport that will come as a replacement to the Quanto. The company also revealed the new vehicle’s pictures and confirmed to roll it out on April 4, 2016. This will be the third sub-4 metre SUV in Mahindra’s lineup and could be positioned between the other two – KUV100 and TUV300. The Mahindra NuvoSport is built on the same platform on which the new-generation Scorpio is based. “The NuvoSport derives its name from its sporty styling and its innate ability to enable an active lifestyle. The SUV is targeted at those who lead an active, outdoorsy lifestyle and have a bucket list of experiences to tick off regularly during their lifetime.”, said the company in a statement. -
Ola vs Uber : In the latest fight among taxi-app companies, Uber on Tuesday moved the Delhi High Court against rival Ola claiming about Rs 49 crore in damages alleging that the latter is hampering its business in the country by creating false user accounts, claiming false cancellation fee, interfering with its drivers’ obligations for completing taxi ride requests, and spreading false rumours among its driver partners. ANI Technologies, the company that owns and operates Ola, “are deliberately, unlawfully, wrongfully, maliciously, falsely and otherwise tortiously interfering in the business” of Uber, “invading the business interests,” which “is resultantly causing huge financial losses,” Uber India, the local unit of Uber Technologies said in its 36-page petition filed in the Delhi HC. (Reuters)
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Maruti Vitara Brezza : Maruti Vitara Brezza deliveries to begin from March 25, confirms the Indo-Japanese carmaker. Launched earlier this month, the vehicle has received overwhelming response from buyers as the company has received over 20,000 bookings within 2 weeks of its launch. Unlike the Baleno and the S-Cross, the Brezza will be retailed through the company’s regular dealership network. R S Kalsi, Executive Director (M&S) shared, “We are delighted at customers’ response to Vitara Brezza. They have appreciated it for its sporty and muscular design and the combination of features offered at multiple trim levels. Our endeavor now is to deliver these cars quickly so that customers can enjoy their Vitara Brezza.”
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iPhone SE: iPhone SE, the US technology major Apple's latest bet to grab a bigger share of the booming Indian smartphone market will start selling in the country from April 8 for Rs 39,000, a price higher than that of existing models.Beetel Teletech and Redington have said they will begin the distribution of iPhone SE, Apple's lowest priced smartphone, from April 8. (Reuters)
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Abraaj Group: Online grocery delivery firm BigBasket has raised $150 million (approximately Rs 1,000 crore) in the latest round of funding led by a new investor, the Dubai-based private equity player Abraaj Group. Other investors include International Finance Corporation and Sands Capital, and existing investors such as Bessemer Venture Partners, Helion Advisors, Zodius Capital and Ascent Capital, a statement from Abraaj Group said.
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Odisha weather: As loo winds swept through Bhubaneswar sending mercury soaring to 42.2 degree Celsius on Monday and over 40 degree in a few Odisha districts like Bolangir and Angul, it was time for people in the Odisha capital to run for cover. The weather officials said it was the highest daytime temperature of March in last 64 years barring 2014. (Reuters)
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Edelweiss : Edelweiss Asset Management on Tuesday announced the acquisition of global giant JP Morgan's mutual fund business in India that has assets worth over Rs 7,000 crore, marking yet another exit of a foreign fund house from the over Rs 13 lakh-crore industry. Under the deal, Edelweiss will acquire all onshore fund schemes managed by JP Morgan Asset Management India including its country-based onshore mutual fund business and the international fund of funds, subject to regulatory approvals, Edelweiss said in a statement. (Reuters)
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Ravi Shankar Prasad: The Department of Posts will offer core banking solutions (CBS) to its customers at 25,000 post offices by April, against 20,494 CBS-enabled branches as of Monday, Minister of Communications and Information Technology Ravi Shankar Prasad said on Tuesday. CBS-enabled post offices allow customers to access their postal savings from any of the branches where the facility is available. “Postal department’s digitisation is integral to Digital India. The first thing we pushed was core banking solutions, which means banking from anywhere to anywhere,” Prasad said while addressing a conference on Digital India. (Express photo)
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Wall Street: Wall Street opened lower on Tuesday after explosions in Brussels sparked fresh geopolitical concerns and sent investors scurrying for safe-haven assets. At least 34 people were killed in twin attacks on Brussels airport and a rush-hour metro train in the Belgian capital, triggering security alerts across western Europe. European markets fell, while traditional safe havens gold and government bonds firmed up as reports of the events in the de facto capital of the European Union unfolded. Airline and travel-related stocks were the worst hit. (Reuters)
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Holi: Banks are closed on Thursday for celebrating the Holi festival, followed by Good Friday. Banks are also closed on second and fourth Saturday, according to recent RBI norm. However, customers can avail cash from ATMs to meet their daily needs.
