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News on Medial
For Zee’s investors, a teary two-year ride
Livemint
·
1y ago
Medial
Despite high expectations of creating shareholder wealth, the proposed merger between Zee Entertainment and Sony Corp has fallen through, causing concerns among investors. Foreign institutional investors, including Invesco and Amansa Capital, have sold their stake in Zee, while domestic mutual funds and insurance companies have increased their ownership. Retail shareholders are becoming restless and considering options such as seeking board reconstitution. The Zee stock has seen a significant decline, and uncertainties regarding future prospects and partnerships are impacting investor sentiment.
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BYJU's CEO broke down on calls with investors after ED raids: Report
BQ Prime
·
2y ago
Medial
According to Bloomberg, Byju Raveendran, the CEO of edtech startup BYJU's, became emotional and teary while defending his company during calls with major investors after the Enforcement Directorate conducted a raid at their Bengaluru premises in late April. The incident reportedly took place while Raveendran was in Dubai, where he was seen restlessly walking in his apartment and consuming black coffee. The raid on BYJU's was carried out under the FEMA Act.
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Ola gets a breather after sharp valuation cut ahead of planned IPO
VCCircle
·
1y ago
Medial
Ola, an Indian ride-hailing company, has received a slight boost in valuation from one of its investors after facing a sharp cut in its valuation last year. The private equity-backed cab aggregator has recently seen a marginal increase in its value, providing some relief for the company. This comes as Ola prepares for its planned Initial Public Offering (IPO).
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Have Uber and Lyft finally found a way to make ride-sharing profitable?
Livemint
·
1y ago
Medial
Ride-sharing companies Uber and Lyft have surprised critics by accelerating towards profitability. Uber recently outlined better long-term financial goals and saw a 15% increase in its stock. Meanwhile, Lyft projected it will become cash-flow positive this year. Both companies have shifted their focus to profitable growth and cost discipline after years of burning through billions of dollars. Ride-sharing has become a utility, and investors are optimistic about the industry's ability to sustain momentum. Despite challenges and cuts, both companies are experiencing market rewards and have room for future growth.
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Zee’s promoter gambit runs into resistance ahead of voting day
Livemint
·
1m ago
Medial
Three proxy advisory firms have advised shareholders of Zee Entertainment Enterprises Ltd to vote against a proposal to issue preferential warrants to promoter entities, which could increase promoters' stake from 3.99% to 18.39%. The firms, Stakeholders Empowerment Services (SES), InGovern, and Institutional Investor Advisory Services (IiAS), cited concerns over pricing, the rationale for using warrants, and the overall choice of financial instruments as reasons for their recommendation.
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Ola launches e-bike services in Delhi and Hyderabad, announces fares
Livemint
·
1y ago
Medial
Ride-hailing platform Ola has launched e-bike services in Delhi and Hyderabad, with fares starting from ₹25 for a 5 km ride. The company plans to deploy 10,000 electric two-wheelers across three cities within the next two months and aims to have the largest EV 2W fleet in India. Ola has also set up 200 charging stations in Bengaluru to service its e-bike fleet. The move is part of Ola's vision to serve 1 billion Indians and promote nationwide electrification.
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BluSmart raises $24 Mn from existing investors, founders and leadership team
Entrackr
·
1y ago
Medial
BluSmart Mobility, an EV ride-hailing service, has raised $24 million in a recent equity round. The funding round included participation and oversubscription from existing investors, founders, and the leadership team. BluSmart aims to expand its zero ride denials, on-time service, and clean mobility to more areas. The company currently operates in Delhi-NCR and Bengaluru and plans to increase its fleet size to nearly 8,000 EVs across these regions by next year. BluSmart claims to own and operate over 4,000 EV chargers across 34 charging hubs.
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Ola expands ebike service to Delhi, Hyderabad; To deploy 10,000 EVs in next 2 Months
Inc42
·
1y ago
Medial
Ride-hailing giant Ola has expanded its electric bike (ebike) service to Delhi and Hyderabad. The company plans to deploy over 10,000 electric vehicles (EVs) in these two cities in the next two months. Ola aims to double down on its ebike service and expand it across India by the end of the year. The service, which has garnered success in Bengaluru, charges INR 25 for every 5 km. Ola also plans to set up an extensive charging network to support its EV fleet.
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Punit Goenka confident about ZEE’s growth amid legal and industry challenges
Livemint
·
8m ago
Medial
During the 42nd Annual General Meeting of Zee Entertainment Enterprises Ltd (ZEEL), CEO Punit Goenka addressed shareholders' concerns and provided updates on the company's strategies and ongoing legal challenges. He emphasized ZEEL's commitment to navigating the evolving media landscape and outlined goals for revenue growth and margin improvement over the next three years. Goenka highlighted the potential for digital and music businesses to outpace the linear television segment and discussed the importance of focusing on new growth engines. He also mentioned the ongoing legal challenge with Star India, acknowledged industry disruptions, and expressed confidence in ZEEL's ability to overcome challenges and create long-term value for shareholders.
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Rapido’s two-wheeler contract carriage permit request rejected by Karnataka transport minister
Economic Times
·
1y ago
Medial
Rapido, a ride-hailing platform based in Bengaluru, has urged the Karnataka government to issue contract carriage permits to two-wheelers and bike taxis. This comes after the Congress regime recently rolled back its 2021 electric bike taxi policy due to misuse. Rapido believes that allowing contract carriage permits for bikes would promote innovation and growth in the ride-hailing sector, and would align Karnataka with other states that have successfully implemented similar models. However, the transport minister has rejected this demand, stating that there are no plans to issue permits to two-wheelers in the near future.
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No more bike taxis in Bengaluru as Karnataka withdraws its bike policy citing its misuse
Economic Times
·
1y ago
Medial
The Karnataka government has banned bike taxi services due to a lack of response from ride-hailing companies to offer electric two-wheelers and misuse of the existing policy. The Karnataka Electric Bike Taxi Scheme, introduced on July 14, 2021, has been withdrawn. Only one company, Wicked Ride, had applied for a license under the scheme. The government plans to modify the scheme and reintroduce it after conducting a comprehensive study on the mobility sector. Bengaluru has become a contentious market for bike taxis, with clashes between auto drivers and bike taxi services.
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