Current Affairs - Business

Hero MotoCorp, a well-known motorcycle manufacturer, is planning to invest Rs 900 crore in Altigreen Propulsion Labs, a leading startup in India's electric 3-wheeler market. This strategic investment aims to enhance Hero MotoCorp's position in the growing electric vehicle sector, particularly in the last-mile delivery segment, where Altigreen's electric cargo 3-wheelers have already gained traction with over 5,000 units sold. This move highlights Hero MotoCorp's commitment to sustainable transportation solutions and its efforts to strengthen its competitiveness in the industry.

Reliance Industries Limited (RIL) made history by becoming the first Indian company to achieve a consolidated turnover of ₹10,00,122 crore for the financial year 2023-24. This landmark achievement underscores RIL's dominant position in the Indian corporate sector. Alongside this revenue milestone, the company reported an EBITDA of ₹1,78,677 crore and a net profit of ₹79,020 crore, with significant contributions from its export business, which recorded ₹2,99,832 crore.

Amazon India has partnered with Indian Railways to improve package delivery efficiency across the country by implementing the hub-and-spoke model on a specific route. This collaboration aims to optimize delivery processes by leveraging the extensive railway network, thereby reducing transit times and costs. The MoU signifies a continued commitment to enhancing logistics infrastructure, building on Amazon's previous partnership with Indian Railways in 2019. This initiative not only supports economic growth but also demonstrates Amazon's dedication to improving its logistics capabilities in India.

Bharti Airtel has collaborated with Apple to offer exclusive content benefits to its customers in India. As part of this partnership, Apple TV+ will be integrated into Airtel's Xstream service for customers on premium Wi-Fi and postpaid plans. Additionally, Airtel's music-streaming service, Wynk Premium, will provide access to Apple Music offers. This collaboration highlights Airtel's strategy to enhance its digital services by teaming up with a leading global technology company like Apple.

Rashtriya Ispat Nigam (Visakhapatnam Steel Plant) and IOCL signed an MoU on August 27, 2024, to ensure the supply of hydraulic and lubricating oils and greases to RINL from 2024 to 2029. The agreement, exchanged by RINL Director (Projects) Sri AK Bagchi and IOCL ED Sri B. Anil Kumar, also includes collaboration in technical support, lubrication, and training. This partnership highlights IOCL's role in providing essential resources to RINL and enhancing its operational efficiency.