Auto maker Skoda Auto Volkswagen India on Wednesday said its Managing Director Gurpratap Boparai has resigned from the company with effect from January 1, 2022.

Christian Cahn von Seelen will take interim charge of the VW Group's Indian operations from January 1, 2022, in his capacity as Chairman of Skoda Auto Volkswagen India Pvt Ltd (SAVWIPL), the automaker said in a statement.

The country’s largest lender, State Bank of India (SBI,) is planning to offload a 6 per cent stake in its mutual fund subsidiary SBI Funds Management Private Ltd (SBI mutual fund) through an initial public offer (IPO). The lender however, has not indicated a timeline for coming to the market with a public offer.

The executive committee of the bank's central board has accorded approval for exploring possibilities to offload a 6 six per cent stake of the bank in SBI Funds Management Private Limited through IPO route.

Bengaluru-based coffee QSR (quick service restaurant) start-up Third Wave Coffee has raised $6 million as part of its Series A funding round. Several existing and new shareholders participated in the private equity round, including Sujeet Kumar (co-founder, Udaan), Arpan Sheth (Bain & Company) and Ayyappan Rajagopal (CEO, Cleartrip), amongst others.

The Series A funding comes just months after the start-up closed its pre-Series A funding round in April from a clutch of investors, including Sujeet Kumar, Nikhil Kamath, Neelesh Bhatnagar and Ayyappan Rajagopal.

Online food delivery platform Zomato on Tuesday announced senior level hirings with ex-Unilever executive Anjalli Ravi Kumar joining as Chief Sustainability Officer and Nitin Savara as Deputy Chief Financial Officer.

The company has consistently focused on corporate sustainability and Kumar's appointment is to take "our initiatives to the next level and ensure our growth is sensitive to both environment and society", Zomato said in a statement.

Flipkart’s social commerce platform Shopsy, has started offering grocery as a category on its platform. Leveraging the Flipkart Group’s supply chain infrastructure and tech capabilities, Grocery on Shopsy will cater to consumers across 700 cities, spanning over 5,800 pincodes. Grocery on Shopsy will host over 6,000 products across 230 categories - ranging from staples, FMCG (fast-moving consumer goods), and other dry groceries; matching the selection and range available on Flipkart Grocery.

Hero Electric on Tuesday announced a partnership with Bengaluru-based battery technology startup Log 9 Materials, to offer its battery packs for the entire range of EVs. The integration of Log 9's 'RapidX' batteries can fully charge Hero Electric 2W within 15 minutes.

Log 9 has tested its RapidX batteries through a series of pilots across multiple B2B fleet operators such as Amazon, Shadowfax, Delhivery, Flipkart and BykeMania, etc.

India has recorded 5,784 new COVID-19 cases, the lowest in 571 days in the last 24 hours, the Union Health Ministry informed on Tuesday.

As many as 252 deaths and 7,995 recoveries have also been reported.

With this, the cumulative tally of recovered patients from COVID-19 since the beginning of the pandemic stands at 3,41,38,763, while the death toll is at 4,75,888.

Aditya Birla Fashion and Retail (ABFRL) has signed a long-term licensing agreement, which grants ABFRL exclusive rights to distribute and sell Reebok products through wholesale, e-commerce and Reebok branded retail stores in India and other ASEAN countries, the company said in a release.

This deal marks ABFRL's foray into India’s fast-growing sports and activewear segment.

Shares Greenlam Industries hit a new high of Rs 1,799.45, up 7 per cent on the BSE in Tuesday's intra-day trade, after its board approved the sub-division/split of face value of equity shares of the company having face value of Rs 5 each to Re 1 each. The company also announced entry into plywood and particle board business and to set up its third laminate plant.

In the past one week, the stock has surged 22 per cent, as compared to a 2-per cent rise in the S&P BSE Sensex.

Adani Green Energy (AGEL) has inked a pact with state run Solar Energy Corporation of India (SECI) to supply 4667 MW of green energy.

According to a company statement, this is the world's largest ever green power purchase agreement (PPA).

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