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The High Court is also expected to hear the plea against Hero MotoCorp's forgery case on December 6. The <keyword id="66" type="General" weightage="20" keywordseo="Delhi" source="Orion">Delhi</keyword> Police filed an FIR against the company and its officials in connection with an old matter dating back before 2010. Regarding the FIR filed against the company and its officials, the company in its statement said: "This is to inform that it is an old matter pertaining to the year 2009-10 with a disgruntled service provider, Brains Logistics Pvt. Ltd. (Promoter - Roop Darshan Pandey)." It may also be noted that while the complainant has mentioned company officials in the complaint, no official has been named in the FIR. "In 2013, Hero MotoCorp also registered an FIR against Brains Logistics and the matter is ongoing before the competent court," the Hero MotoCorp statement added.

Delhi HC stays cheating case filed against Hero MotoCorp CEO Pawan Munjal

<ul><li>The family office of Dr. <keyword id="87849" type="General" weightage="80" keywordseo="pawan-munjal" source="Orion">Pawan Munjal</keyword>, the chairman of <keyword id="6357252" type="General" weightage="50" keywordseo="hero-motocorp" source="Orion">Hero MotoCorp</keyword> has invested an undisclosed amount in <keyword id="12291737" type="General" weightage="80" keywordseo="exponent-energy" source="Orion">Exponent Energy</keyword>.</li><li><keyword id="218039" type="General" weightage="100" keywordseo="exponent" source="Orion">Exponent</keyword> Energy is an EV charging company that recently partnered with Altigreen Propulsion Labs.</li><li>The two companies have launched an electric 3-wheeler that offers a range of up to 85 km and can be fully charged in just 15 minutes.</li></ul>The family office of Dr Pawan Munjal, the chairman of Hero MotoCorp has invested an undisclosed amount in EV charging company, Exponent Energy. The Bengaluru-based company says that with this funding round, it can expand its charging stations across the city. Exponent Energy is ramping up its battery pack production and setting up 100 charging stations across <keyword id="6354321" type="General" weightage="50" keywordseo="bengaluru" source="Orion">Bengaluru</keyword> in its first leg. Other cities will follow, says the company which also sealed a partnership in association with EV maker Altigreen Propulsion Labs to enable fast charging. Both these companies intend to manufacture a commercial electric 3-wheeler which can be fully charged within 15 minutes. The Reliance New Energy-backed Altigreen is also ramping up its production facilities along with a distribution network. “This partnership with Exponent will now make us the fastest charging 3-wheeler that offers flexibility and freedom to our customers and helps them earn even more,” Dr Amitabh Saran, founder and chief executive officer of Altigreen said in a statement. One of the main issues that commercial electric vehicles usually face is slow charging, which makes it difficult for companies to adopt them in their business. <cmsannotation type="cmsannotation" annotationid="85 kms on a single charge" comment="subhead" text="85 kms on a single charge">85 kms on a single charge</cmsannotation> The 3-wheeler will be equipped with an 8.19kWh battery pack developed by Exponent Energy. The companies claim that the vehicle will offer a range of up to 85 km on a single charge. The battery pack ensures long battery life and consistent performance even at 50-degree Celsius, the press release said. Exponent has said that the e^pump or charging network delivers 600A of power, which it claims is fifteen times faster than the industry standard. “For all of India to go electric, EVs need to charge faster and last longer. Our e^pack and e^pump make this possible with 15-minute rapid charging and 3,000 cycle life warranty,” said Arun Vinayak, the CEO of Exponent Energy. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/top-10-cars-sold-in-india-in-july-2022-maruti-suzuki-tata-and-hyundai-brand-in-only-top-10/slidelist/93289907.cms">Top cars sold in India in July 2022</a> <a href="https://www.businessinsider.in/business/auto/news/best-upcoming-hybrid-electric-cars-and-suvs-in-india/articleshow/93274562.cms">Best upcoming electric and hybrid cars in India in August 2022</a> <a href="https://www.businessinsider.in/business/auto/news/auto-sales-data-july-2022-maruti-and-toyota-post-strong-growth-in-sales-while-mg-motor-and-kia-decline/articleshow/93276379.cms">Auto sales data July 2022: Maruti and Toyota post strong growth in sales while MG Motor and Kia decline</a>

Pawan Munjal invests in EV charging company Exponent Energy

Two-wheeler major <keyword id="6357252" type="DOMAIN" weightage="20" keywordseo="Hero-MotoCorp">Hero MotoCorp</keyword> has surpassed the significant milestone of 100 million (10 crore) units in <keyword id="10631540" type="UNKNOWN" weightage="20" keywordseo="cumulative-production">cumulative production</keyword>. The 100 millionth bike, the Xtreme 160R, was rolled-out of the Company's manufacturing facility in Uttarakhand's Haridwar. This is the 20th consecutive year that Hero MotoCorp has retained the title of the world's largest manufacturer of two-wheelers. According to the two-wheeler major, this is one of the fastest global achievements of the 100 million cumulative production mark, with the last 50 million units coming in a span of just seven years. "This significant landmark is also an affirmation of the inherent capabilities in India and Hero's Brand appeal. We have been making in India, for the world - and this milestone is an acknowledgment of the customers' preference for Hero across geographies, demographics and generations," said <keyword id="87849" type="PERSON" weightage="20" keywordseo="Pawan-Munjal">Pawan Munjal</keyword>, Chairman &amp; CEO, Hero MotoCorp. "We are going to continue to ride our growth journey. In keeping with our vision to 'Be the Future of Mobility', we will be launching a host of new motorcycles &amp; scooters over the next five years, in addition to expanding our global footprint. We will also continue to invest in R&amp;D and focus on new mobility solutions." Besides, <keyword id="6320" type="DOMAIN" weightage="20" keywordseo="Munjal">Munjal</keyword> outlined Hero MotoCorp's plans and vision for the next five years. As part of the next five-year plan, Hero MotoCorp will introduce over 10 products - including variants, refreshes and upgrades - every year. In addition, the company will continue to grow its operations in markets outside India and also enter new geographies. SEE ALSO: <a href="https://www.businessinsider.in/defense/news/us-new-president-joe-biden-will-oppose-new-delhis-5-5-billion-deal-with-russia-for-the-s-400-missile-as-per-washington-d-c-based-expert/articleshow/80382062.cms" data-type="tilCustomLink">INTERVIEW: Joe Biden may be as harsh as Donald Trump if India insists on buying S-400 missiles from Russia, says a Washington D.C-based expert</a> <a href="https://www.businessinsider.in/stock-market/news/home-first-finances-1153-crore-ipo-has-opened-as-markets-hope-budget-will-push-for-affordable-housing/articleshow/80381788.cms" data-type="tilCustomLink">Warburg Pincus-backed Home First Finance’s ₹1,153 crore IPO has opened as markets hope budget will push for affordable housing</a>

Hero Motocorp hits the 100 million cumulative production milestone

Two-wheeler market leader <keyword id="6357252" type="COMPANY" weightage="20" keywordseo="Hero-MotoCorp">Hero MotoCorp</keyword> today said it has "almost" sold out all of its BS-III inventory ahead of the <keyword id="6354977" type="ORGANIZATION" weightage="20" keywordseo="Supreme-Court">Supreme Court</keyword> imposed ban on such vehicles kicking in tomorrow, according to a <keyword id="6367495" type="COMPANY" weightage="20" keywordseo="PTI">PTI</keyword> news report. 
 The company had offered discounts on its BS-III scooters and motorcycles to up to Rs 12,500 in order to liquidate the stocks. "In the past two days, we have taken tactical steps to assist our dealers and incentivise the customers with an objective to liquidate the remaining BS III stocks," Hero <keyword id="738064" type="UNKNOWN" weightage="20" keywordseo="MotoCorp">MotoCorp</keyword> Chairman, Managing Director and CEO <keyword id="87849" type="PERSON" weightage="20" keywordseo="Pawan-Munjal">Pawan Munjal</keyword> said in a statement. 
 He further said: "By the end of today, March 31, we would have sold almost all of our BS III inventory." Hero MotoCorp had switched to manufacturing only BS IV compliant vehicles since March 1 and is fully prepared to sell only BS IV vehicles from April 1, as per the order of the Supreme Court and welcomes its decision in the interest of public health, <keyword id="6320" type="COMPANY" weightage="20" keywordseo="Munjal">Munjal</keyword> added. 
 "As a public limited company, we have thereby tried to minimise the losses of all our stakeholders," he added. When contacted, <keyword id="20630" type="CITY" weightage="20" keywordseo="Honda">Honda</keyword> Motorcycle and Scooter India (<keyword id="121221" type="ORGANIZATION" weightage="20" keywordseo="HMSI">HMSI</keyword>) declined to comment. Chennai-based <keyword id="46156" type="CITY" weightage="20" keywordseo="TVS-Motor">TVS Motor</keyword> also did not comment but industry sources said their dealers have cleared most of the BS-III stocks. HMSI had offered discounts of up to Rs 22,000 and TVS 20,150 on their BS-III models after the Supreme Court banned sales and registration from April 1. Around 6.71 lakh two-wheelers, out of over 8 lakh BS-III vehicles were impacted by the Supreme Court ban. On Wednesday, observing that health of the people is "far, far more important" than the commercial interests of the manufacturers, the apex court said that automobile firms have declined to take "sufficient pro-active steps" despite being fully aware that they would be required to manufacture only BS-IV compliant vehicles from April 1, 2017.

Automakers offered mega
discounts and freebies to get rid of BS III stocks

The salaries of CEOs in India’s top companies have increased up to Rs 10 crore per annum. However, it is still less than one-tenth of the remuneration paid to their peers in the US. 
 
Senior executives of the country’s top blue-chip companies, forming part of the stock market’s 30-share benchmark index Sensex, were paid an average remuneration of Rs 9.9 crore in FY2013-14. It was about Rs 8.5 crore in the last financial year. 
 
In comparison, the average pay of CEOs in the US, for the companies forming part of the US stock market’s 30-share benchmark index, was Rs 105 crore. 
 
The corresponding figures for the UK and Germany were about Rs 60 crore and Rs 50 crore, respectively. 
 
The average pay for the Sensex companies would reduce even further if the figures for the six PSU companies are considered, as their annual packages are much lower, owing to government regulations. 
 Only four companies showed a decline in their CEO compensation, while the annual package remained unchanged in one case — Reliance Industries’ <keyword id="3820" type="PERSON" weightage="100" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword> — at Rs 15 crore. 
 Among those with higher packages, Hero MotoCorp’s managing director and CEO <keyword id="87849" type="PERSON" weightage="100" keywordseo="Pawan-Munjal">Pawan Munjal</keyword> received a total remuneration of Rs 37.9 crore in FY2013-14. 
Image: Thinkstock

CEOs In India Earn Rs 10 Crore Annually, But It’s Just A Tenth Of Their US Peers

If reports are to be believed, Hero MotoCorp's promoter Pawan Munjal is the highest paid director among the top listed private companies as his pay package in last fiscal was around Rs 44 crore. 
 
As per a proxy advisory firm InGovern, Munjal took home Rs 43.91 crore last fiscal, which is 1.84% of his company's net profit. 
 
Munjal was followed by two other executives of the auto group, Brijmohan Lall Munjal, who passed away earlier this month, and Sunil Kant Munjal. 
 
Lall had a pay packet of Rs 43.64 crore and Sunil took home Rs 41.87 crore in 2014-15. 
 
Analysis of salaries of 95 directors in Nifty companies was done and it revealed that on an average remuneration of a director is Rs 9 crore. 
 
As per InGovern, Desh Bandhu Gupta, chairman of Lupin, earned a salary of Rs 37.58 crore, while Larsen &amp; Toubro chairman A M Naik drew an annual remuneration of Rs 27.32 crore. 
 
Among others in the top 10 are Bharti Airtel's Sunil Bharti Mittal (Rs 27.18 crore), Vinita Gupta, CEO of Lupin (Rs 24.86 crore), Hindalco MD D Bhattacharya (Rs 21.59 crore), TCS MD N Chandrasekaran (Rs 21.28 crore) and Ultratech Cement's Kumar Mangalam Birla (Rs 19.04 crore). 
 
On the contrary, pay package of 16 directors was less than 0.05% of the net profits of their firms. 
 
The report stated that remuneration of 11 directors was more than 400 times the median employee remuneration of their companies. This included three directors each of Lupin and Hero MotoCorp and one each of Hindalco, L&amp;T, Cipla, ITC and TCS. 
 
(Image: Indiatimes)

Hero MotoCorp’s Pawan Munjal earned whooping Rs 44 crore in 2014-15

Homegrown two-wheeler major <a href="http://www.businessinsider.in/searchresult.cms?query=Hero+MotoCorp+">Hero MotoCorp</a> is going to set up manufacturing units in Mexico, Argentina and <keyword id="6355226" type="COUNTRY" weightage="60" keywordseo="Brazil">Brazil</keyword> as part of the company’s global expansion plan. 
 
The company wants to make use of its new plant in <a href="http://www.businessinsider.in/searchresult.cms?query=Colombia+">Colombia</a> as a hub to export to nearby countries. Its first global manufacturing facility at Villa Rica, entailing a project investment of $70 million, became operational this week. 
 The New Delhi-headquartered <keyword id="6357252" type="COMPANY" weightage="80" keywordseo="Hero-MotoCorp">Hero MotoCorp</keyword> has now become the first Indian two-wheeler manufacturer to set-up a production unit in <a href="http://www.businessinsider.in/searchresult.cms?query=Latin+America+">Latin America</a> after setting up the plant in <keyword id="15385" type="COUNTRY" weightage="40" keywordseo="Colombia">Colombia</keyword>. 
 "Going forward in terms of manufacturing facility, we are looking at some other countries in the region like Mexico, Argentina and Brazil," Hero MotoCorp's Chairman, Managing Director and CEO <keyword id="87849" type="PERSON" weightage="80" keywordseo="Pawan-Munjal">Pawan Munjal</keyword> told PTI. 
 
After being asked about other geographic locations that Hero was looking at for investment, especially in the US and Europe, Munjal said: "Right now there are no <a href="http://www.businessinsider.in/searchresult.cms?query=manufacturing+">manufacturing</a> plans there, but we could look at <keyword id="12925" type="ENTERTAINMENT" weightage="80" keywordseo="Africa">Africa</keyword> as a region where <keyword id="6354767" type="COUNTRY" weightage="40" keywordseo="Nigeria">Nigeria</keyword> is one possibility." 
 
Nigeria is the largest <a href="http://www.businessinsider.in/searchresult.cms?query=two-wheeler+">two-wheeler</a> market in Africa. 
 
When Munjal was asked about products that his company would make at the Colombian facility, he said: "It is starting with our entry-level product to the current biggest engine that we produce -- the Karizma. So it's a range from entry to (top-end)..." 
 
The company has set a target of selling 1.2 million two-wheelers in global markets by the year 2020. To meet this target, Hero is aiming to be present in 50 countries by that time. 
 
When asked whether there could be any impact of bankruptcy of Eric Buell Racing (EBR), Munjal said, "We are not changing our targets for 2020." 
 
The company CEO also said that the products Hero was developing together with EBR would now be completed by itself in India. 
 Hero MotoCorp sells its products in 24 countries including Sri Lanka, Nepal, Bangladesh, Egypt and <keyword id="6372909" type="COUNTRY" weightage="40" keywordseo="Turkey">Turkey</keyword>, as also in Peru, Ecuador and Colombia in <keyword id="26945" type="ENTERTAINMENT" weightage="60" keywordseo="South-America">South America</keyword>, among others. 
 
(Image: Indiatimes)

Hero MotoCorp is going global in speed!

India is home to Asia’s second richest billionaire, the world’s costliest home and a bunch of millionaires. It is also home to some of the most well paid executives. 
 <keyword id="6355515" type="ORGANIZATION" weightage="80" keywordseo="Business">Business</keyword> Insider compiles a list of the highest paid <keyword id="6407546" type="COMPANY" weightage="80" keywordseo="CEOs">CEOs</keyword> across India. 
 
Kalanithi Maran 
 
Annual Salary: Rs 59.89 Crores 
 
It’s obvious that the most profitable television network in Asia would fill the pockets of its bosses. While the group’s TV channels and news publications are concentrated in South India, its FM channels and DTH services and enjoyed pan India. 
 
Kavery Kalanithi 
 
Annual Salary: Rs 59.89 Crores 
 
The wife of Kalanidhi Maran and Executive Director of Sun TV Network is the second highest paid executive. According to Fortune she is also the highest paid woman executive in India. 
 
Image credit: The Mint 
 
Naveen Jindal 
 
Annual Salary: Rs 54.98 Crores 
 
The Chairman of Jindal Steel and Power Ltd claims the third spot with an annual salary of around Rs. 55 Crores. Mr. Jindal is also well known for his efforts that led to the revision of the Flag Code of India which allows every Indian citizen the right to fly the National Flag 365 days a year. 
 
Kumar Mangalam Birla 
 
Annual Salary: Rs 49.62 Crores 
 
The current Chairman of the Aditya Birla Group is next in line. Kumar Mangalam Birla took over in 1995 at the tender age of 28 years after his father’s death. He then led the company to around 26 acquisitions in 17 yrs - the highest by an Indian company. 
 
Pawan Munjal 
 
Annual Salary: Rs 32.80 Crores 
 
The MD and CEO of Hero Moto Corp is the fifth member on the list. Pawan Munjal is the man behind the growth and success of the group. He is also a board member of the Indian Institute of Management, Lucknow. 
 
Brijmohan Lall Munjal 
 
Annual Salary: Rs 32.73 Crores 
 
The founder and Chairman of the Hero Group can also claim to be the president of Confederation of Indian Industries, the Society of Automobile Manufacturers in the past, and a member of RBI board. 
 The founder of the $32 billion <keyword id="6356323" type="UNKNOWN" weightage="80" keywordseo="Enterprise">enterprise</keyword> has been awarded with the Padma Bhushan. 
 
Sunil Kant Munjal 
 
Annual Salary: Rs 31.51 Crores 
 
Sunil Kant Munjal was appointed Joint Managing Director of Hero MotoCorp on Aug 17, 2011 for a period of 5 years. He was appointed on the board of directors in 2006 as a non-executive director. 
 
P R Ramasubrahmaneya Rajha 
 
Annual Salary: Rs 30.96 Crores 
 
While the name maybe Ramco Cement, the company has its hands into cement, mortar and wind power generation, all thanks to the Chairman and MD P R Ramasubrahmaneya Rajha who leads the company. Rajha has been associated with the group since its foundation in 1938. 
 
Image credit: Thynkfeed 
 
Shinzo Nakanishi 
 
Annual Salary: Rs 30.90 Crores 
 
Shinzo Nakanishi has been leading India’s largest auto manufacturer Maruti Suzuki since 2007. He was made the Director by Suzuki in 1999. 
 
 
Murali K Divi 
 
Annual Salary: Rs 26.46 crore 
 
Chairman and Managing Director of Divi's Laboratories Dr. Murali K Divi has 30 years+ of experience in the pharmaceutical industry. He is a member of several important medical associations like the American Pharmaceutical Association, American Cosmetic Society, American Chemical Society and American Institute of Chemical Engineers. 
 
Image credit: Forbes 
 
(Image credit: Indiatimes)

Top 10 highest paid CEOs of India

New Delhi, India's top billionaires, including Gautam Adani and Sunil Bharti Mittal, mega stars from film industry such as Amitabh Bachchan and Shahrukh Khan and cricketing icons from Sachin Tendulkar to M S Dhoni are among those invited for pre-wedding celebrations of Mukesh Ambani's youngest son, Anant early next month. Ahead of the wedding ceremony in July, guests from around the world have been invited to three-day pre-wedding festivities beginning March 1, at Gujarat's Jamnagar, which houses Ambani's mega oil refineries. Anant Ambani, the youngest of the three children Mukesh Ambani and Nita Ambani have, is set to marry Radhika Merchant - the younger daughter of <keyword id="20720133" type="General" weightage="20" keywordseo="viren-merchant" source="keywords">Viren Merchant</keyword>, CEO of Encore Healthcare, and entrepreneur Shaila Merchant. With Jamnagar not having five-star hotels, ultra-luxury tents housing best of facilities, including tiled bathrooms are being erected for the guests. The guest list includes international business leaders like Meta CEO Mark Zuckerberg, Microsoft founder Bill Gates, Alphabet CEO Sundar Pichai, Adobe CEO Shantanu Narayen, Walt Disney CEO Bob Iger, BlackRock CEO Larry Fink, Adnoc CEO Sultan Ahmed Al Jaber, and EL Rothschild chair Lynn Forester de Rothschild, sources said. Indian business magnates invited include Gautam Adani and family, Tata Sons chairman Natarajan Chandrasekaran , Aditya Birla Group Chairperson Kumar Mangalam Birla, and his family, Godrej family, Infosys chairman Nandan Nilekani, RPSG Group head Sanjiv Goenka, Wipro's Rishad Premji, banker <keyword id="19998917" type="General" weightage="20" keywordseo="uday-kotak" source="keywords">Uday Kotak</keyword>, vaccine maker Serum Institute of India CEO Adar Poonawalla, Airtel chairman Sunil Mittal, Hero's Pawan Munjal, Roshni Nadar of HCL, Zerodha co-founder Nikhil Kamath, entrepreneur Ronnie Screwvala and Sun Pharma's Dilip Sanghi. Top cricketers, including Sachin Tendulkar and family, MS Dhoni and family, Rohit Sharma, K L Rahul, Hardik and Krunal Pandya and Ishan Kishan too are on the invitee list. <keyword id="19897820" type="General" weightage="20" keywordseo="bollywood" source="keywords">Bollywood</keyword> will be represented by mega stars Amitabh Bachchan and family, Abhishek and Aishwarya Rai Bachchan, Shahrukh Khan and family, Amir Khan, Salman Khan, Akshay Kumar and Twinkle Khanna, Ajay Devgn and Kajol, Saif Ali Khan and family, Chunky Pandey, Ranveer Singh and Deepika Padukone, Ranbir Kapoor and Alia Bhatt and <keyword id="19895145" type="General" weightage="20" keywordseo="vicky-kaushal" source="keywords">Vicky Kaushal</keyword> and Katrina Kaif. Madhuri Dikshit and Sriram Nene, Aditya and Rani Chopra, Karan Johar, Boney Kapoor and family, Anil Kapoor and family, <keyword id="19946417" type="General" weightage="20" keywordseo="varun-dhawan" source="keywords">Varun Dhawan</keyword>, Sidharth Malhotra, Shraddha Kapoor and Karisma Kapoor, Rajnikanth and family are are on the invitee list. The three-day-long event will be themed, according to 'Event Guide' sent to the invitees. Chartered flights have been arranged to ferry guests from Delhi and Mumbai to Jamnagar and back. Guests are expected to arrive by mid-day on March 1. Hollywood pop-icon Rihanna, along with Diljit Dosanjh and others, will enthrall the guests with their performances. Day 1 celebrations are called 'An Evening in Everland' where guests are expected to wear elegant cocktail attire. Day 2 will host 'A Walk on the Wildside' with 'jungle fever' being the suggested dress code. It is set to be held outdoors in the Ambanis' animal rescue centre in Jamnagar. The guests will then proceed to 'Mela Rouge' which will be a potpourri of desi activities and the guests will wear their favourite south Asian attires. For Day 3, two events - 'Tusker Trails' and 'Hashtakshar' are planned. The first event will be an outdoor affair where the guests will enjoy the natural beauty of Jamnagar and for the last and final event, they'll be dressed in 'heritage Indian Wear'. All the guests will be provided with personal laundry services, saree drapers and other custom assistance, the nine-page event guide said.

Billionaires to Bollywood: All invited to Anant Ambani's pre-wedding festivities

Indian EV startup <keyword id="12291737" type="General" weightage="80" keywordseo="exponent-energy" source="Orion">Exponent Energy</keyword>, which claims to have developed a battery that gets powered from zero to 100 per cent in just 15-minutes, on Wednesday raised $13 million funds led by top VC firm <keyword id="1727428" type="General" weightage="50" keywordseo="lightspeed" source="Orion">Lightspeed</keyword>. Bengaluru-based <keyword id="218039" type="General" weightage="100" keywordseo="exponent" source="Orion">Exponent</keyword> has developed the epump and epack, its proprietary charger and battery pack, that together unlock a 15-min rapid charge for 0 to 100 per cent battery charge The startup said that the new funds will be utilised to scale up its EV network to 100 location points per city, starting with Bengaluru. All existing institutional investors, YourNest VC, 3one4 Capital and AdvantEdge VC, also participated in the latest funding round. "This team, with their drive and innovation, has made rapid EV battery charging possible in just 15 minutes. We are confident that the technology is a real breakthrough, allowing EVs to become ubiquitous," said Harsha Kumar, Partner, Lightspeed. Earlier this month, Exponent Energy partnered Altigreen Propulsion Labs to make rapid charging a reality for eCVs on Indian roads. They unveiled the world's fastest charging electric three-wheeler aneEV HD' that charges from 0-100 per cent within 15 minutes. Customer deliveries of <keyword id="14739329" type="General" weightage="50" keywordseo="exponent-enabled-neev" source="Orion">Exponent Enabled NeEV</keyword> HD will begin from October, said the startup. "Our technology already delivers a seamless charging experience, and with our vehicle partnership in place, we'll scale-up our production and network presence," said Arun Vinayak, Co-founder &amp; CEO, Exponent Energy. Exponent Energy previously raised $6 million in Seed and Pre-Series A round from investors such as the family office of Dr Pawan Munjal, Chairman and CEO, Hero MotoCorp, Motherson Group, along with YourNest VC, 3one4 Capital, AdvantEdge VC and others. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/pawan-munjal-invests-in-ev-charging-company-exponent-energy/articleshow/93325365.cms">Pawan Munjal invests in EV charging company Exponent Energy</a> <a href="https://www.businessinsider.in/business/auto/news/ather-450x-gen-3-vs-ola-s1-vs-tvs-iqube-s-electric-scooters-comparison-of-price-and-features/articleshow/93594152.cms">Ather 450X Gen 3 vs Ola S1 vs TVS iQube S – price, specs and features compared</a> <a href="https://www.businessinsider.in/sports/news/elon-musk-says-its-a-joke-hours-after-saying-he-is-buying-manchester-united/articleshow/93608074.cms">Elon Musk says it’s a joke, hours after saying he is buying Manchester United</a>

Exponent Energy raises $13 million to scale up its rapid charging points across the country

<ul><li><keyword id="6357252" type="UNKNOWN" weightage="20" keywordseo="Hero-MotoCorp">Hero Motocorp</keyword> reported a 15% drop in its profit to ₹620.71 crore between January and March 2020.</li><li>The company’s revenue from operations was down almost 21% Year-on-Year to ₹6,238.39 crore during the period.</li><li>The EBITDA margin for the quarter stood at 10.6%.</li></ul>Hero Motocorp, the largest two-wheeler manufacturer, shares declined over 2% on Wednesday after the company reported a 15% drop in its profit to ₹620.71 crore between January and March 2020 compared to the same quarter last year. However, <a href="https://economictimes.indiatimes.com/markets/stocks/earnings/hero-motocorp-q4-preview-profit-may-slip-up-to-36-yoy/articleshow/76268305.cms">Kotak Institutional Equities</a> had expected its fourth-quarter profits to fall by about 36%. The company’s revenue from operations was down almost 21% Year-on-Year to ₹6,238.39 crore during the period, the company said. The earnings before interest, taxes, depreciation, and amortization (EBITDA) margin for the quarter stood at 10.6%— which is a sharp fall compared to 13.6% the same time last year. The board also recommended a final dividend of ₹25 equity share for the financial year 2019-20. “While the COVID-19 pandemic has pushed several timelines, we have successfully navigated through the unprecedented times with business continuity. As we now rapidly scale-up operations post the lockdown, it will be critical that the industry receives support from all quarters,” said Pawan Munjal chairman &amp; CEO, Hero MotoCorp <div type="image" title="Copy of Hero Profit" msid="76287844" hostid="261"></div> The company shares took a massive hit when the government announced lockdown to contain the spread of coronavirus in March. However, the shares are nearly back to the pre-COVID levels— up almost 52% since March 31. The stellar rally in Hero’s shares could also be because of the news that said the firm had <a href="https://economictimes.indiatimes.com/industry/auto/auto-news/hero-motocorp-retails-10000-two-wheelers-after-re-opening-last-week/articleshow/75656534.cms?from=mdr#:~:text=The%20country's%20largest%20two%2Dwheeler,customer%20touch%20points%20last%20week.&amp;text=All%20of%20Hero%20MotoCorp's%20manufacturing,preventive%20measure%20against%20COVID%2D19.">sold nearly 10,000 motorcycles within a week </a>after reopening. <div type="image" title="share priceCopy of hero moto share" msid="76287921" hostid="261"></div> On March 22, the government announced a nationwide lockdown to deal with the COVID-19 pandemic and Hero MotoCorp to halt operations until May 4. Hero MotoCorp became the first two-wheeler manufacturer in the country to resume operations as it reopened three plants — Dharuhera and Gurgaon in Haryana and Haridwar in Uttarakhand, the company said in a <a href="https://www.india.com/business/hero-motocorp-reopens-1500-outlets-sells-10000-bikes-4025091/">statement</a>. The company has about 42% total market share in the Indian two-wheeler category, according to <a href="https://www.business-standard.com/article/news-cm/hero-motocorp-slips-after-weak-december-sales-120010300241_1.html">Business Standard</a>. <div type="image" title="Hero MotoCorp sales" msid="76287949" hostid="261"></div> It also launched an online sales platform, yesterday (June 8) — eSHOP. The customers can choose the model, colour and accessories online, and the car will be delivered at home. “The Sales Assistant handles all the customers’ queries and guides them through the remaining steps like documentation, finance, invoicing, insurance, registration and delivery (optional Home delivery),” said the company’s <a href="https://www.bseindia.com/xml-data/corpfiling/AttachLive/0c1f2871-f84e-4361-a713-2c71d7d2515d.pdf">statement</a>. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/hero-motocorp-profit-revenue-for-q4-march-2020-preview-share-price-chart-and-sales-data/articleshow/76256963.cms" data-type="tilCustomLink">Hero MotoCorp shareholders are betting that people will go for cheaper bikes after the pandemic</a> <a href="https://www.businessinsider.in/business/corporates/news/may-monthly-auto-sales-data-for-maruti-suzuki-hyundai-mahindra-tvs-and-royal-enfield/articleshow/76148078.cms" data-type="tilCustomLink">Maruti Suzuki, Hyundai and others see sales plunge by 80% in May with exports taking a massive hit during the lockdown</a>

Hero Motocorp share price plummets 2% after its lowest profit in at least the last six quarters

<div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div><ul><li>Tiger Woods is set to play in his first tournament in nearly ten months following his fourth back surgery.</li><li>His first official action was to meet with the media on Tuesday morning in the Bahamas.</li><li>Woods began the press conference by going back and forth with a media official over whether or not a jacket was appropriate for the event.</li></ul> The PGA Tour's Hero World Challenge is this week in the Bahamas and all eyes are on Tiger Woods who is set to play in his first tournament in nearly ten months.While we have seen snippets of Woods practicing his swing and have heard <a href="http://www.businessinsider.com/tiger-woods-was-reportedly-pain-free-during-match-with-donald-trump-2017-11" target="_blank" rel="noopener noreferrer">stories about how well he is playing</a>, his first official action was to meet with the media on Tuesday morning. That media session got off to a rather bizarre start.Before PGA Tour media official John Bush even had a chance to introduce Woods as the tournament host or Pawan Munjal, the CEO of Hero, Woods ribbed Bush for wearing a jacked in the Bahamas in a back-and-forth that sounded a lot like a married couple going to social function (you can see a transcript below).Tiger Woods: We're in the Bahamas right?John Bush: We are, should I take it off?Woods: Dude, what are you doing?Bush: Just stop. Just stop.Woods: Wow.[inaudible from the media]Bush: He's Tiger Woods!Woods: Oh, here we go.Bush:&#xa0;*whispers* Stop looking at me.Woods:&#xa0;Dude, I can't. You've never worn that before.Bush: Yes I have!Woods: No, you have not!Bush: Alright, can we get started?Welcome back, Tiger!<div><div style="width:100%;height:0px;position:relative;padding-bottom:56.250%;"></div></div> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/texas-longhorns-amazing-7-million-college-football-locker-room-sports-athletic-department-2017-11">Inside the Texas Longhorns' amazing $7 million locker room</a></h3> <div> </div> </div></hr>

Tiger Woods' return to golf began with a funny married-couple-like back-and-forth with a PGA Tour media official

<ul><li>At the event, former RBI governor Raghuram Rajan has said that India will soon surpass the size of China’s economy. </li><li>IMF Chief Gita Gopinath has raised the red flag for India by calling out the risk associated with India’s high fiscal deficit. </li><li>While Indian political leaders may be missing, industry top honchos Ambani, Adani among others are making up for the country.</li></ul>It’s that time of the year when the world’s biggest political, business and thought leaders of the world sit down and discuss global economy, investments, climate change and other pressing issues and potential opportunities at the famous skiing destination in Switzerland-- Davos. The <keyword id="69007" type="COMPANY" weightage="20" keywordseo="World-Economic-Forum">World Economic Forum</keyword> has officially kicked off in Davos and unlike last year, where Indian prime minister Narendra Modi made a splash, most political leaders from India have pulled out of the event to focus on the upcoming general elections. However, India, an economy that is touted to be among the world’s <a href="https://www.businessinsider.in/india-to-overtake-the-uk-in-the-rankings-of-the-worlds-largest-economies-thanks-to-brexit/articleshow/67188514.cms">top five</a> in 2019, was certainly a talking point at the world’s most elite gathering. The buzz at Davos Indian economy can be bigger than China Former RBI governor <a href="https://www.thequint.com/news/business/india-to-become-bigger-than-china-eventually-raghuram-rajan">Raghuram Rajan </a>has made big predictions for India at the event. Rajan said that India will soon surpass the <keyword id="5639169" type="UNKNOWN" weightage="20" keywordseo="economy-of-china">economy of China</keyword> and will lead the infrastructure development in South Asia. “India will become bigger than China eventually as China would slow down and India would continue to grow. So India will be in a better position to create the infrastructure in the region which China is promising today. But this competition is good for the region and it will benefit for sure,” he said. IMF’s advice for India’s finance minister IMF's Chief Economist Gita Gopinath has raised the <a href="https://www.bloombergquint.com/davos-world-economic-forum-2019/davos-2019-imf-chief-economist-gita-gopinath-on-global-growth-and-indian-economy#gs.3GOc0UrB">red flag for India</a> by calling out the risk associated with India’s high fiscal deficit. In an exclusive interview with <a href="https://economictimes.indiatimes.com/markets/expert-view/india-must-stick-to-fiscal-math-gita-gopinath-imf/articleshow/67634713.cms">ET now</a>, the IMF Chief said, “It is important for India to stay the course on fiscal consolidation. If you look at the aggregate deficit for India – combining the centre and the state deficits – has not improved much in the last five years. That is something that needs to be addressed.” However, The International Monetary Fund's (IMF) World Economic Outlook Update released by chief economist Gita Gopinath on Monday said that India's economy is expected to grow by 7.5 per cent in the 2019-20 fiscal year, keeping an upward trajectory as the rest of the world slumps. India to lead Industry 4.0 India presents a big opportunity with the fourth industrial revolution, declared Department of Industrial Policy and Promotion (DIPP) Secretary Ramesh Abhishek. Speaking at a breakfast session titled 'Shaping India's future with Industry 4.0', organised by global consultancy giant Deloitte and industry body CII, the secretary said that India is fast adapting to new technologies and facilitating with policy framework to make way for industrial growth. ‘Chai pe charcha’ at Davos Indian tea is making a big appearance at the event with<a href="https://www.livemint.com/politics/news/from-hot-cups-of-tea-to-billboards-and-lounges-india-makes-a-mark-at-wef-1548080851695.html"> Tata Tea’</a>s participation at the WEF. The company is offering free cups of tea to the attendees of the event. 
 



 
 
 <div type="image" title="WEF" msid="67652758" hostid="261" caption="&amp;lt;p&amp;gt;Tata Group Chairmen, Mr. Chandrasekaran at World Economic Forum. &amp;lt;/p&amp;gt;"></div>







easyinv.blogspot.com Neighbours compete At the WEF too, rival states of Telangana and Andhra Pradesh are making their call for investments. While Telangana makes an appearance again this year asking investors to make the state their first stop in the country, sister state <a href="https://www.livemint.com/politics/news/from-hot-cups-of-tea-to-billboards-and-lounges-india-makes-a-mark-at-wef-1548080851695.html">Andhra Pradesh</a> is calling itself ‘future-ready,’ Andhra Pradesh Chief Minister Chandrababu Naidu, too, was supposed to attend the event but he’s passed the opportunity. What to expect Many Indian industry top honchos like Mukesh Ambani, Gautam Adani, Nandan Nilekani, Anand Mahindra, Pawan Munjal amongst others will be making an appearance at the event. Indian commerce and industry minister Suresh Prabhu will also be attending the event. Madhya Pradesh Chief Minister Kamal Nath will be speaking on emerging markets outlook on Day 3. See Also: <a href="https://www.businessinsider.in/indias-economy-projected-to-grow-the-fastest-in-the-2019-20-even-as-the-rest-of-the-world-slows-down-imf/articleshow/67633816.cms">India's economy projected to grow the fastest in the 2019-20 even as the rest of the world slows down: IMF</a> <a href="https://www.businessinsider.in/davos-2019-day-one-huawei-chairman-said-trade-war-is-slowing-sales-microsoft-ceo-talked-techs-impact-on-humanity/articleshow/67649167.cms">Davos 2019 Day One: Huawei chairman said trade war is slowing sales, Microsoft CEO talked tech's impact on humanity</a> <a href="https://www.businessinsider.in/india-supports-international-aid-to-other-countries-says-survey/articleshow/67634798.cms">Over 95% Indians support foreign aid efforts — and it seems like India has stood up to that expectation</a>

Davos Digest: Raghuram Rajan lifts India's spirit and other stories from the World Economic Forum

<keyword id="6357252" type="COMPANY" weightage="100" keywordseo="Hero-MotoCorp">Hero MotoCorp</keyword> surpassed street expectations as its profit jumped 58% for the July-September quarter. Riding on higher volumes and stable rupee, it made a profit of Rs 763 crore. Analysts had estimated its profit to be around Rs 700 crore. 
 Hero’s net sales in the quarter increased by 20% to Rs 6,863.50 crore. <keyword id="63060" type="ORGANIZATION" weightage="60" keywordseo="EBITDA">EBITDA</keyword> for the quarter was 13.52%. 
 
Pawan Munjal, vice-chairman, MD and CEO at Hero MotoCorp said, “With the new stable government at the Centre, the sentiment in the entire country has turned positive. The Rupee depreciation, which had adversely impacted several sectors, and pulled up the costs of essential commodities, has also more or less stabilized. We will continue to be innovative in tackling any extraneous pressures to protect our margins.” 
 
He added, “We are laying the roadmap for the future at Hero with a strong focus on technology and innovation. While our multi-location technology eco-system is working on the new product line, our customers have given a resounding affirmation to the innovation and technology-improvements on the existing platforms. These numbers bode well for the festive season and we are looking at leveraging this momentum to ensure record retail sales in the month of October.”

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