Tiger wants to partially exit Flipkart

New York-based hedge fund Tiger Global Management, which reportedly has $1 billion stake in Flipkart, is seeking a partial exit from the e-commerce company as it sits across the table with Softbank, which in turn does not want to invest in Snapdeal anymore.

Fingerlix raises $3 million

Fingerlix, the Mumbai-headquartered ready-to-cook food start-up, has now raised $3 million from Zephyr Peacock (ZP) in its Series A round of funding. The funds will be utilised to further diversify in product portfolio and geographical expansion. The brand has an overall target of spreading to top 10 cities in India over the next 18 months, top company officials said.

Audi unveils A3 sedan variants

Germany luxury car maker Audi, India’s second biggest on Thursday launched its 5th car of the year, the facelift of its most-affordable executive sedan, the A3 to take on rivals such as Mercedes-Benz, BMW, Tata Motors-owned Jaguar Land Rover and Swedish Volvo.
With a price band of Rs 30.50 lakh for the 1.4 petrol model and Rs 32.30 lakh for the 2.0-litre diesel variant, the Audi A3 competes against the likes of the Mercedes CLA, which starts at around Rs 31 lakh in New Delhi showroom.

What Went Wrong with Pepsi’s Kendall Jenner Ad

PepsiCo Inc’s latest commercial, slammed on social media for a tone-deaf exploitation of the Black Lives Matter movement, has become a cautionary tale about relying on an in-house advertising team.
The spot, which features Kendall Jenner offering a Pepsi to a police officer in the middle of a street protest, was handled by the company’s Creators League Studio division. That team was launched in 2014 and given state-of-the-art studio space in Manhattan last year, allowing the beverage giant more flexibility and control over its message.

Toyota recalls 23,157 units of Corolla Altis

Toyota-Kirloskar Motor is recalling 23,157 units of Corolla Altis sedan in India to rectify and replace its faulty airbags, as part of the ongoing recall of 2.9 million vehicles globally by its Japanese parent company Toyota Motor.
The airbags were manufactured by Takata, a Japanese auto component maker, and supplied to Toyota brand. The firm also supplies airbags to many car brands across the globe.

Powerful brands of 2017

Patanjali and Reliance Jio are the two most happening new brands on 2017 as per a study conducted by TRA Research. Samsung has bagged the top position as the most trusted consumer durable brand of 2017, while the mobile phone brand has seen a deep dive down to 156 rank from leadership spot after Note 7 fracas. Apple on the other hand has climbed to fourth position, riding on the accessibility factor – with better financing schemes.
Patanjali in three years has climbed significantly from 576 rank to 15th position. Reliance Jio, within one year of launch, has climbed to 19th rank.

Mahindra plans to start electric bus sales next year

Mahindra & Mahindra, which acquired an Indian electric carmaker seven years ago, is targeting to start selling electric buses next year in the country as the government looks to cut dependence on fossil fuels.

Tesla overtakes giant Ford in market cap

Tesla on Monday became the second-largest US car maker in terms of market capitalisation, displacing Ford, whose sales lagged amid concerns about the ability of the US market to keep growing.
Many major auto makers reported US sales declines in March compared to a year ago, but Tesla over the weekend said it saw a huge jump in vehicles delivered to consumers in the first three months of the year.
That was enough to send the electric car maker's stock soaring on Monday, even as investors punished major car brands for reporting lower-than-expected March sales.

Clearing BS-III stocks to cost automakers Rs 3,000 crore

Commercial vehicle makers, including Tata Motors, Ashok Leyland, Mahindra and Mahindra and VE Commercial Vehicles, are among the worst-affected automobile majors incurring a cost of Rs 2,500 crore to liquidate the unsold BS-III stock of trucks and buses.
Two-wheeler makers Hero MotorCorp, Honda Motorcycles and Scooters, together commanding 75 per cent of the BS-III inventory of the industry, took a major hit out of the Rs 480 crore loss in clearing the stock.