OYO Records Strong Growth in Business Travel Segment
Hospitality tech platform OYO has added nearly 2,800 corporate clients in the January-July 2023 period, up 11.75% year-on-year. The company’s revenue from business travel has also grown by 20% during the same period, according to the OYO Business Travel Trends Report 2023.
Hyderabad is the leading city in terms of corporate client additions, followed by Gurugram, Delhi, Bengaluru, Mumbai, Kolkata, and Pune. Many other business hubs such as Noida, Lucknow, Kochi, Jaipur, Chennai, and Coimbatore have also contributed to the growth.
Startups, film production houses, travel management companies, small and medium scale enterprises, and traditional business houses & conglomerates are the key drivers of this growth.
OYO’s strong growth in the business travel segment is a testament to its commitment to providing affordable and reliable accommodation options to businesses of all sizes. The company’s focus on innovation, customer service, and value for money has made it a preferred choice for businesses across India.
- 22 Sep
Pharma Major Lupin Acquires 5 Legacy Brands from Menarini for Indian Market
Pharma major Lupin Limited has acquired five legacy brands in strategic therapy areas from Menarini for the Indian market. The brands are Piclin, Menoctyl, Sucramal O, Pyridium, and Distaclor. This strategic acquisition is in line with Lupin's goal to broaden its presence in the Indian market and offer a comprehensive range of products. The five brands acquired by Lupin have a range of medicinal properties and are used to treat a variety of conditions, including constipation, irritable bowel syndrome, acidity, stomach ulcer, heartburn, pain, burning, increased urination, and increased urge to urinate.
- 22 Sep
JPMorgan to Add Indian Government Bonds to Benchmark Emerging-Market Index
JPMorgan is adding Indian government bonds to its list of emerging market bonds that it invests in. This is a good thing for India because it means that more foreign investors will be able to buy Indian government bonds. This could bring in billions of dollars of investment into India, which would help the Indian economy grow.
- 21 Sep
Liberty General Insurance Appoints Parag Ved as CEO
Liberty General Insurance, a leading general insurance company in India, has announced the appointment of Parag Ved as its new Chief Executive Officer (CEO). Ved has over two decades of experience in the insurance industry, having held senior leadership roles at prestigious organizations such as ICICI Lombard General Insurance and Tata AIG General Insurance. He takes on the role following the retirement of Roopam Asthana.
- 21 Sep
Schneider Electric India to invest Rs 3,200 crore by 2026
Schneider Electric India plans to invest Rs 3,200 crore by 2026 to expand its industrial footprint in the country and focus on sustainable solutions. The company aims to be net-zero in its operations by 2030, carbon neutral by 2040, and net-zero CO2 emissions across its entire value chain by 2050.
- 21 Sep
Tata Power Renewable Energy Partners with Dugar Power to Accelerate Nepal’s Renewable Energy Initiatives
Tata Power Renewable Energy (TPREL) has partnered with Dugar Power, a subsidiary of Dugar Group, to accelerate Nepal's renewable energy initiatives. The partnership will enable TPREL to enter Nepal's rapidly evolving renewable energy sector and deploy transformative solar technologies to produce a range of energy solutions. The agreement is designed to cater to Nepal's diverse energy requirements, offering scalable solutions from 1 kilowatt (kW) to megawatt (MW) levels.