Punjab & Sind Bank Partners with Indian Army for Salary Accounts

Ashok Leyland Ventures into Vehicle Scrappage

Ashok Leyland, a leading truck and bus manufacturer, is set to launch its first-ever vehicle scrappage facility under a franchise model. The company has finalized an agreement with a Registered Vehicle Scrapping Facility (RVSF), placing it in a strategic position to advance its circular economy goals and reduce environmental impact, as highlighted in its FY24 annual report. In addition to this milestone, Ashok Leyland is developing a digital platform named Re.AL, aimed at facilitating the resale of used vehicles in compliance with the government-mandated vehicle scrappage policy. This initiati..

IEX Sees Significant Surge in Electricity Volumes in June 2024

The Indian Energy Exchange (IEX) reported a substantial 24.7 percent increase in electricity volumes for June 2024, with total volumes reaching 10,185 million units (MU). Including certificates, the monthly volume rose to 10,677 MU, marking a 19.4 percent year-on-year growth. In the first quarter of fiscal year 2025, IEX achieved a total electricity volume of 28,178 MU, reflecting a 19 percent increase from the previous year. When including certificates, the overall volume for the quarter reached 30,354 MU, showcasing a 20.8 percent growth compared to the first quarter of FY2024. Amidst hot ..

Hindenburg Alleges SEBI Intimidation

U.S.-based short-seller Hindenburg Research announced that India's securities regulator, SEBI, had sent a letter outlining suspected violations over its short bet against Adani Group last year. Hindenburg disclosed that it may "barely come out above breakeven" on its trade. In a detailed statement, Hindenburg revealed that Kotak Bank, an Indian firm, created and managed an offshore fund structure for its "investor partner" to bet against the Adani conglomerate. This provided new insights into the trades that had puzzled many investors. The short-seller reported making $4.1 million in gross re..