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In the context of a business, liquidity can be defined as the ability of the firm to turn its assets like investments, receivables and inventory into cash. It is difficult to sell low liquidity assets for their true value especially at a time when you confront an inventory shortage just before holidays. Here are the top reasons why liquidity is very important for any business. Need for financing and credit If you want to borrow money, liquidity is very important for your business. The liquidity ratio of a small business will tell the potential investors and creditors that your company stable and strong and also has enough assets to combat any tough times. Credit and financing help small businesses pay off the creditors, purchase inventory, and to maintain the payroll during off-season. While a number of small business owners might feel taking loans is a risky thing, there are ways to make sure that you are able to payback your loans comfortably. You just need to do some research and take out only as much loan as you will need. You will need guidance in deciding smartly When you are able to monitor your company’s liquidity ratio regularly, you will be in a better position to make sound and well-informed decisions that can contribute to your firm’s profits and growth. If your company has too much liquidity, you can think of expanding your business. However, do not give in to the temptation to spend on what is not part of your business’s strategic planning. The bottom line here is to avoid letting the cash stay idle where it is not used efficiently. A low liquidity ratio might give an indication that your company has financial struggles and your business is under economic stress. Low ratios can help in anticipating the troubles ahead of your business. Under such circumstances, you can move in to liquidate some assets before it is too late. More than looking at your business’s current ratios, it is also important to look at your competitor’s ratios. This will help you set your vision ahead and identify the potential opportunities in front of your business. Liquidity will help you in times of emergency At this juncture, it is important to learn from what the managing director of Kennon-Green &amp; Co., Joshua Kennon, says, “Remember one important lesson: At least some portion of your net worth should be kept in liquid assets. That liquid portion has one primary job, and that job is to be there when you reach for it.” In order to increase the liquidity of your business, you must be able to know what your business has that will sell quickly when you fall short of cash. Liquidated stocks, collected receivables, sold inventories, and returned supplied that are unused are all sure ways to boost up cash. It is good to have a plan before adversity knocks your doors. It is important to monitor your company’s liquidity closely to be able to make informed decisions about your company’s spending. Understand your ratios and also look for different kinds of prospects that will help you generate cash. Go for financing only when needed. Planning carefully will ensure that your company marches towards growth and profits.

Why is liquidity important for any company

Los Angeles [US], February 27 (<keyword id="19904948" type="General" weightage="20" keywordseo="ani" source="keywords">ANI</keyword>): According to a study, vapers are susceptible to infection by SARS-CoV-2, the virus that causes COVID-19 and continues to infect people all over the world. The liquid used in electronic cigarettes, known as e-liquid, often contains nicotine, propylene glycol, vegetable glycerin, and flavour compounds. The researchers discovered that propylene glycol/vegetable glycerin, either alone or in combination with nicotine, increased COVID-19 infection via various routes. The results of the study are published in the American Journal of Physiology. The researchers also found that the addition of benzoic acid to e-liquids prevents the infection caused by propylene glycol, vegetable glycerin, and nicotine. "Users who vape aerosols produced from propylene glycol/vegetable glycerin alone or e-liquids with a neutral to basic pH are more likely to be infected by the virus, while users who vape aerosols made from e-liquids with benzoic acid -- an acidic pH -- will have the same viral susceptibility as individuals who do not vape," said <keyword id="20741903" type="General" weightage="20" keywordseo="rattapol-phandthong" source="keywords">Rattapol Phandthong</keyword>, a postdoctoral researcher in the Department of Molecular, Cell and Systems Biology and the research paper's first author. The researchers obtained airway stem cells from human donors to produce a 3D tissue model of human bronchial epithelium. They then exposed the tissues to JUUL and <keyword id="20000547" type="General" weightage="20" keywordseo="blu" source="keywords">BLU</keyword> electronic cigarette aerosols to study the effect on SARS-CoV-2 infection. They found all tissues showed an increase in the amount of ACE2, a host cell receptor for the SARS-CoV-2 virus. Further, TMPRSS2, an enzyme essential for the virus to infect cells, was found to show increased activity in tissues exposed to aerosols with nicotine. <keyword id="20741904" type="General" weightage="20" keywordseo="prue-talbot" source="keywords">Prue Talbot</keyword>, a professor of the graduate division and Phandthong's advisor, said e-cigarette users should be cautious about vaping as some products will increase their susceptibility to SARs-CoV-2 infection. "It would probably be best for vapers to quit vaping for the protection of their health and to stop nicotine dependency," she said. "If they cannot stop vaping, it is better to vape aerosols produced from an e-liquid with acidic pH or with benzoic acid to prevent the enhanced SARS-CoV-2 infection caused by nicotine, propylene glycol, and vegetable glycerin. However, inhalation of benzoic acid has its own risk, and data is still limited on this topic." The researchers acknowledge that the relationship between e-cigarettes and SARS-CoV-2 susceptibility is complex. "The complexity is attributed to a wide range of available e-liquids, the chemical composition of each e-liquid, and different models of e-cigarettes," Phandthong said. "Our study only used Classic Tobacco Flavor JUUL e-cigarette and BLU Classic Tobacco e-cigarette. Even with just these two e-cigarettes, we found the aerosols and individual ingredients produced different effects on SARS-CoV-2 infection." Phandthong and <keyword id="20266784" type="General" weightage="20" keywordseo="talbot" source="keywords">Talbot</keyword> hope the Food and Drug Administration will use their findings to implement regulatory laws on e-cigarette products. "Our findings could also help improve the design of clinical trials involving the use of tobacco products and SARS-CoV-2 infection," Phandthong said. "In the meantime, it is worth bearing in mind that the scientific literature has shown that a vaper who contracted SARS-CoV-2 has more complications during the recovery period and is more likely to develop long COVID-19, which can be serious and last many months post-infection. We hope our findings encourage vapers to stop vaping and discourage non-users from starting to vape." Phandthong acknowledged the team only investigated the initial stage of SARS-CoV-2 infection. "There are many later stages involved in infection, such as viral replication," he said. "Likely, these additional stages can also be affected by inhalation of e-cigarette aerosols." (ANI)

Vaping can enhance vulnerability to infection with SARS-CoV-2: Study

<keyword id="19896016" type="General" weightage="20" keywordseo="new-delhi" source="keywords">New Delhi</keyword> [<keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>], January 15 (<keyword id="19904948" type="General" weightage="20" keywordseo="ani" source="keywords">ANI</keyword>): India's trade performance in December witnessed a nuanced pattern, with the overall exports, encompassing both <keyword id="46477" type="General" weightage="20" keywordseo="merchandise" source="Orion">merchandise</keyword> and services, declining to USD 66.33 billion compared to USD 69.29 billion in December 2022, as per data released by the <keyword id="19910473" type="General" weightage="20" keywordseo="commerce-ministry" source="keywords">Commerce Ministry</keyword>. However, a closer look at the sector-wise breakdown reveals divergent trends. Merchandise exports in December demonstrated resilience, growing to USD 38.45 billion, a slight increase from USD 38.08 billion in December 2023. This positive momentum in merchandise exports highlights certain sectors' ability to navigate global challenges and capitalize on opportunities. On the other hand, services exports experienced a dip in December, reaching USD 27.88 billion, down from USD 31.19 billion in the same period last year. The decline in services exports reflects the broader economic challenges and global uncertainties affecting this sector. Services imports, too, registered a decline in December, reaching USD 13.25 billion compared to USD 15.81 billion in December 2023. This reduction in service imports could be a response to various economic factors and changing global dynamics. The overall December imports, considering both merchandise and services, also saw a decline, totalling USD 71.50 billion, down from USD 77.03 billion in December 2023. This decline in imports might be attributed to a combination of factors, including evolving market conditions and economic considerations. Despite the nuanced trade dynamics, the December trade deficit narrowed to USD 5.17 billion, showcasing a positive trend compared to USD 7.75 billion in December 2022. The reduced trade deficit suggests a more balanced trade scenario, where the decline in imports might have contributed to a healthier trade position. These figures depict a complex trade landscape, reflecting the intricate interplay of global economic conditions, sector-specific challenges, and India's adaptability in the face of evolving trade dynamics. The Commerce Ministry's data offers valuable insights into the intricacies of India's trade performance, providing a basis for further analysis and strategic decision-making. (ANI)

India's December trade data: Overall exports declined, merchandise exports grew

<keyword id="6376312" type="General" weightage="100" keywordseo="mother-dairy" source="Orion">Mother Dairy</keyword> has raised the price of its full cream milk offerings from Rs 63 per litre to Rs 64 per litre in <keyword id="66" type="General" weightage="50" keywordseo="delhi" source="Orion">Delhi</keyword> and National Capital Region. The prices of full cream milk sold in packs of 500 ml have been kept unchanged. The revised price point, which was announced on Sunday, came into effect today itself. While the price of full cream milk has been increased by Rs 1 per litre, tokenized milk became costlier by Rs 2 per litre to Rs 50. This is the fourth upward revision in prices of milk, an essential food item, in 2022. The earlier revisions were done in March, August, and October this year. <keyword id="15573975" type="General" weightage="50" keywordseo="surya-parkash-joshi" source="Orion">Surya Parkash Joshi</keyword>, a customer who came to purchase milk from Mother Dairy Shop Number 109 at Munirka in New Delhi, told <keyword id="21936" type="General" weightage="50" keywordseo="ani" source="Orion">ANI</keyword>, "Milk price has risen four times this year but unfortunately our salary gets revised rise only once in a year. It affects our monthly expenditures." Swati, another customer told ANI: "Milk is necessary, everyone uses it on a regular basis. This is the fourth time milk prices have been hiked in a year, in such circumstances poor people would not be able to afford it. Milk is now within the reach of the rich only." Mother Dairy is the largest milk supplier in Delhi <keyword id="53426" type="General" weightage="50" keywordseo="ncr" source="Orion">NCR</keyword>. It reportedly sells more than 30 lakh litres of milk every day through packets and vending machines. Mother Dairy has nine processing plants. The company has hundreds of milk booths as well as successful retail outlets in Delhi-NCR. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/alto-k10-cng-launched-in-india-with-33-85-km-mileage-price-specs-and-everything-you-need-to-know/slidelist/95653357.cms">Alto K10 CNG launched in India with 33.85 km mileage – know price, specs and more</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/companies-discussing-labour-shortage-up-by-28-in-2022-report/articleshow/95654525.cms">Companies discussing labour shortage up by 28% in 2022: Report</a>

Faced with high input costs, Mother Dairy raises milk price for four times in 2022

New Delhi [India], March 6 (<keyword id="19904948" type="General" weightage="20" keywordseo="ani" source="keywords">ANI</keyword>): The Enforcement Directorate (ED) has filed a prosecution complaint against 299 accused persons and entities (including 76 Chinese-controlled entities) and two other entities controlled by other foreign nationals in an ongoing money laundering case, the agency said on Wednesday. The case is linked to the duping of gullible investors who were promised astronomical returns on investing money (claimed to be used for mining bitcoins and other crypto Currencies) for which an app-based token by the name of "<keyword id="19984854" type="General" weightage="20" keywordseo="hpz-token" source="keywords">HPZ Token</keyword>" was used. The prosecution complaint filed before a Special Prevention of Money Laundering Act (PMLA) court in Nagaland's Dimapur named 299 accused persons and 78 entities. Out of the total entities named in the prosecution complaint, 76 are Chinese-controlled entities (in which 10 directors are of Chinese origin) and two other entities are controlled by other foreign nationals. The court took cognizance of the offence of money laundering in the prosecution complaint on Tuesday after finding that a prima-facie case has been made under PMLA, 2002, against the said 299 accused persons. ED initiated an investigation based on an FIR registered by Cyber Crime Police Station, <keyword id="20214444" type="General" weightage="20" keywordseo="kohima" source="keywords">Kohima</keyword> (Nagaland) under various sections of the Indian Penal Code, 1860 and the <keyword id="20003647" type="General" weightage="20" keywordseo="information-technology-act" source="keywords">Information Technology Act</keyword>, concerning the duping of gullible investors who were promised astronomical returns on investing money [claimed to be used for mining of bitcoins and other cryptocurrencies], for which an app-based token by the name of "HPZ Token" was used. The ED investigation revealed that various bank accounts and merchant IDs were opened by various shell entities having dummy directors and proprietors only for the rotation and layering of proceeds of crime representing funds fraudulently received for illegal online gaming betting and investment in <keyword id="19899404" type="General" weightage="20" keywordseo="bitcoin" source="keywords">Bitcoin</keyword> mining. For an investment of Rs 57,000, returns of Rs 4,000 per day for three months were promised but money was paid only once and thereafter, fresh funds were sought. Earlier, ED conducted search operations at 44 locations throughout the country and an amount of Rs 176.67 crore, maintained by shell entities in various banks and virtual accounts, was frozen. Further movable and immovable properties to the extent of Rs 278.70 crore held in the name of dummy entities were attached. Total seizure and attachment stand at Rs 455.37 crore in the case so far. (ANI)

ED files prosecution complaint against 299 accused, 76 Chinese-controlled entities in a money laundering case

New Delhi [India], February 26 (<keyword id="19904948" type="General" weightage="20" keywordseo="ani" source="keywords">ANI</keyword>): Passenger vehicle volume is expected to ascend to a new peak for the third straight time next financial year, growing 5-7 per cent on a high base of 6-8 per cent estimated for the current year ending March 2024, according to <keyword id="19955699" type="General" weightage="20" keywordseo="crisil-ratings" source="keywords">Crisil Ratings</keyword>. This ascend is expected as sport utility vehicles (SUVs) race ahead even as demand for cars and exports remain muted. Healthy volume growth of the SUV segment, which enjoys higher margin, will steer an improvement in operating margin to 11.5-12.5 per cent next financial year, the rating agency said on Monday. Better cash generation, along with strong balance sheet and robust liquidity will support funding of sizeable capital expenditure to set up additional capacity, keeping credit profiles of passenger vehicle makers stable, the agency said. A significant change in consumer preference has cranked up demand for SUVs leading to its market share doubling to 60 per cent of total domestic volume this fiscal from 28 per cent before the pandemic in fiscal 2019. This preference is expected to further grow backed by a healthy pipeline of new model launches across price points, including electric variants, and normalised availability of semiconductors after a prolonged period of short supply. "While the overall PV volume is seen rising 5-7 per cent next fiscal, we expect demand for SUVs to accelerate at twice the pace at over 12 per cent driven by array of feature-laden launches at competitive price points, varied technology options including hybrid and electric, and increased access to credit," said <keyword id="19898319" type="General" weightage="20" keywordseo="anuj-sethi" source="keywords">Anuj Sethi</keyword>, Senior Director, CRISIL Ratings. In contrast, demand for cars is seen slowing this fiscal too due to the ongoing weakness in the rural market and lower affordability at the entry level. The cost of vehicles has risen in the past 3-4 years as manufacturers have been passing on higher commodity prices and have had to comply with more stringent regulations on safety and emissions. The situation is similar on the exports front. The share of passenger exports is estimated to have slowed to 14 per cent this fiscal compared with 17 per cent in fiscal 2019, mainly due to inflationary headwinds and limited availability of foreign exchange in key export markets -- <keyword id="19968988" type="General" weightage="20" keywordseo="latin-america" source="keywords">Latin America</keyword>, south-east <keyword id="19915288" type="General" weightage="20" keywordseo="asia" source="keywords">Asia</keyword> and Africa -- in the past two years. "This trend is expected to continue next fiscal," Crisil Ratings said. But increasing share of SUVs with higher realisations, along with stable commodity prices and full benefit of price hikes executed last fiscal have resulted in operating margin expansion of manufacturers by 200 basis points (100 basis points is equal to 1 percentage point) to 11.0 per cent this fiscal. A further improvement in sales mix in favour of SUVs can take that number to 11.5-12.5 next fiscal, it said. (ANI)

SUVs to drive passenger vehicle volume 5-7% next financial year: Crisil

Jalgaon (Maharashtra) [India], July 3 (<keyword id="21936" type="General" weightage="50" keywordseo="ani" source="Orion">ANI</keyword>): After <keyword id="6366108" type="General" weightage="80" keywordseo="ajit-pawar" source="Orion">Ajit Pawar</keyword> took oath as the Deputy Chief Minister of Maharashtra, party workers on Sunday celebrated outside the NCP office in Jalgaon bursting crackers. They also raised slogans like 'Ajit Pawar, you go ahead, we are with you'. Maharashtra Deputy Chief Minister Ajit Pawar has the backing of more than 40 MLAs in the State Legislative Assembly and more than 6 MLCs in the Legislative Council. "Ajit Pawar has the backing of more than 40 MLAs in <keyword id="58135" type="General" weightage="50" keywordseo="vidhan-sabha" source="Orion">Vidhan Sabha</keyword> and more than 6 MLCs in <keyword id="93125" type="General" weightage="50" keywordseo="vidhan-parishad" source="Orion">Vidhan Parishad</keyword>," party sources said. Newly appointed Maharashtra Deputy CM Ajit Pawar said, "Today, we have decided to support the Maharashtra government and took oath as ministers. There will be a discussion on the portfolios later. Considering all aspects at the national level, we thought that we should support development." "The country is progressing under the leadership of PM Modi. He is also popular in other countries. Everyone supports him and appreciates his leadership. We will fight the upcoming Lok Sabha and Assembly elections with them (BJP) and that is why we have taken this decision," Pawar added. Earlier today Nationalist Congress Party (NCP)'s senior leader Ajit Pawar on Sunday joined Eknath Shinde-led government in Maharashtra and took oath as the deputy chief minister of the state. In a dramatic turn of events, Pawar, along with nine MLAs, reached Raj Bhawan to meet Governor Ramesh Bais. A total of nine NCP leaders took oath as Maharashtra ministers after Ajit Pawar and other party leaders joined the NDA government in Maharashtra. (ANI) Pawar was later administered oath as the second deputy chief minister of Maharashtra. Chief Minister <keyword id="193503" type="General" weightage="50" keywordseo="eknath-shinde" source="Orion">Eknath Shinde</keyword> was also present on the occasion. On the occasion, Maharashtra CM Eknath Shinde said that the double-engine government has now become triple-engine. "Now we have 1 Chief Minister and 2 Deputy Chief Ministers. The double-engine government has now become triple engine. For the development of Maharashtra, I welcome Ajit Pawar and his leaders. Ajit Pawar's experience will help strengthen Maharashtra," Maharashtra CM Shinde said. (ANI)

NCP workers in Jalgaon celebrate after Ajit Pawar takes oath as deputy CM

<keyword id="19896016" type="General" weightage="20" keywordseo="new-delhi" source="keywords">New Delhi</keyword> [India], January 29 (<keyword id="19904948" type="General" weightage="20" keywordseo="ani" source="keywords">ANI</keyword>): The Indian economy is projected to grow close to 7 per cent in the financial year 2024-25 that starts this April, said the <keyword id="19908390" type="General" weightage="20" keywordseo="ministry-of-finance" source="keywords">Ministry of Finance</keyword> in its monthly review report. The strength of domestic demand has driven the economy to a 7 per cent plus growth rate in the last three years. <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>'s economy grew 7.2 per cent in 2022-23 and 8.7 per cent in 2021-22. The Indian economy is expected to grow 7.3 per cent in the current financial year 2023-24, remaining the fastest-growing major economy. The robustness seen in domestic demand -- private consumption and investment -- traces its origin to the reforms and measures implemented by the government over the last 10 years, said the report issued by <keyword id="19912839" type="General" weightage="20" keywordseo="department-of-economic-affairs" source="keywords">Department of Economic Affairs</keyword>. "The supply side has also been strengthened with investment in infrastructure - physical and digital - and measures that aim to boost manufacturing. These have combined to provide an impetus to economic activity in the country," the review report noted. "Accordingly, in FY25, real GDP growth will likely be closer to 7 per cent." There is, however, considerable scope for the growth rate to rise well above 7 per cent by 2030, the report added. "The rapidly expanding digital infrastructure is continuously improving institutional efficiency. Technological progress is picking up pace with rising collaboration with foreign partners in the production of goods and services. Decisive steps have been taken to speed up human capital formation. Finally, the overall investment climate is increasingly becoming more favourable with sustained enhancement in the ease of doing business." In the next three years, India is expected to become the third-largest economy in the world, with a GDP of USD 5 trillion, it asserted. India can aspire to become a USD 7 trillion economy in the next six to seven years (by 2030), it said. "This will be a significant milestone in the journey to delivering a quality of life and standard of living that match and exceed the aspirations of the Indian people." Firm GDP growth forecasts, inflation at manageable levels, political stability at the central government level and signs that the central bank is done tightening its monetary policy have all contributed to painting a bright picture for the Indian economy. (ANI)

Indian economy likely to grow 7% next financial year: Ministry of Finance

Taking lessons from the <keyword id="541988" type="COMPANY" weightage="100" keywordseo="SnapDeal">Snapdeal</keyword> episode, in which its major investor <keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">SoftBank</keyword> took decision to sell-out the online marketplace, <keyword id="6354720" type="PERSON" weightage="20" keywordseo="Ola">Ola</keyword>’s parent company modified regulatory terms and gave more powers to the owners. <keyword id="4545821" type="UNKNOWN" weightage="20" keywordseo="ani-technologies-private-limited">ANI Technologies Private Limited</keyword>, which owns and operates India’s top ride-hailing app Ola, amended the Articles of Association and modified some of the regulatory terms to give greater control to Ola founders Bhavish Aggarwal and Ankit Bhati. As per the revised terms, SoftBank, which is Ola’s biggest stakeholder, and its affiliates need approval from Aggarwal, Bhati and company's board to purchase any additional shares of the company from other stakeholders. SoftBank will own over 30% stake in Ola after the last financing round. "The measures are aimed at giving the founders more power, even as they continue to dilute their shareholding to (access more capital) and take on Uber,” a banker who tracks the company closely told ET. Aggarwal and Bhati will also be issued additional shares in Ola to ensure their holding does not fall below 10.9% from the current 12.01%. ET reported they may get an additional four lakh shares, which will be worth Rs 520 crore. This move comes after SoftBank initiated talks of Snapdeal’s sellout to <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword>, which reflects concerns of deep-pocketed investors taking major decisions. Snapdeal's CEO Kunal Bahl, in an email to employees in April, wrote that "our investors are driving the discussions around the way forward, for the company. Ola raised $250 million from SoftBank at a valuation of around $3 billion in November 2016. During the negotiation for the round, SoftBank had offered to invest close to $1 billion in Ola which would have given it a controlling stake in Ola, one source told ET. "But Aggarwal decided to take less money from SoftBank and raise more capital from other investors, both existing and new,” ET quoted sources.

Lessons learnt from Snapdeal episode; Ola founders get more power, greater control

Ride-hailing major <keyword id="6354720" type="General" weightage="100" keywordseo="ola" source="Orion">Ola</keyword> on Monday clarified that nearly 200 engineers, including some in the software vertical, have been asked to go from its 2,000-strong engineer workforce -- 10 per cent of the headcount -- as part of a larger restructuring exercise towards its electric dream. The company denied sacking 500 employees, adding that it is "centralising operations and is undertaking a restructuring exercise to minimise redundancy and build a strong lateral structure that strengthens relevant roles and functions". CNBC first reported that nearly 500 employees are being laid off from the various software verticals of <keyword id="21936" type="General" weightage="50" keywordseo="ani" source="Orion">ANI</keyword> technologies which operates as <keyword id="6362049" type="General" weightage="50" keywordseo="ola-cabs" source="Orion">Ola Cabs</keyword>. "The company currently has around 2,000 engineers and aims to increase its engineering talent pool to 5,000 over the next 18 months," said the ride-hailing company. The Bhavish Aggarwal-run company has nearly 1,100 employees in its core ride-hailing business. Earlier restructuring exercises impacted employees across product, marketing, sales, supply, tech, business, and operations verticals at the company, affecting nearly 500 employees that "were a result of restructuring in the Cars and Dash businesses". The ride-hailing major recently shut down its used vehicle business <keyword id="3295694" type="General" weightage="50" keywordseo="ola-cars" source="Orion">Ola Cars</keyword>, as well as its quick-commerce business, <keyword id="13052888" type="General" weightage="50" keywordseo="ola-dash" source="Orion">Ola Dash</keyword>, as the company shifted focus on its electric two-wheeler and car verticals. Ola said it plans to hire 5,000 engineers as it doubles down on new engineering verticals and strengthens capabilities across vehicle, cell, battery, manufacturing and autonomous streams. However, <keyword id="4393078" type="General" weightage="50" keywordseo="ola-electric" source="Orion">Ola Electric</keyword>'s sales are diminishing and it sold 3,421 EV two-wheelers in August, a drop from 3,862 units the company sold in July. More than half a dozen senior executives have quit Ola Electric in recent months while over 30 senior executives have left Ola in the past two years. Recently, Ola Electric's head of advanced battery engineering, Ashok Saraswat, moved on. Saraswat, who joined SoftBank-backed Ola last year, is reportedly joining a company that is entering the battery business. As EV two-wheeler sales drop amid battery fire fears, Okinawa Autotech, PureEV and Ola Electric recalled 6,656 vehicles after the battery explosion incidents increased in the country. The government has said it is extra vigilant about the safety standards of EVs and experts are on the job. SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/ev-battery-can-charge-in-three-minutes-a-harvard-backed-company-claimed/articleshow/94295446.cms">Harvard-backed company makes an EV battery that fully charges in three minutes</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/ola-laying-off-500-employees-from-its-software-verticals-report/articleshow/94294728.cms">Ola laying off 500 employees from its software verticals: Report</a>

Laying off 200 engineers to 'centralise' operations, clarifies Ola

Cab aggregator <keyword id="6354720" type="PERSON" weightage="20" keywordseo="Ola">Ola</keyword> posted a consolidated loss of over Rs 2,311 crore -- about Rs 6 crore a day -- during fiscal 2015-16, on account of heavy advertising and promotional expenses and high employee cost, as per a news report by PTI.The Bengaluru-based firm, which is locked in an intense battle for leadership with US-based Uber, has seen its losses widen about three times from Rs 796.11 crore in 2014-15, Ola said in a filing with the Ministry of Corporate Affairs.<keyword id="2200842" type="UNKNOWN" weightage="20" keywordseo="ANI-Technologies">ANI Technologies</keyword> -- which runs Ola -- did see its revenues registering a stellar growth at Rs 758.23 crore during 2015-16 compared to Rs 103.77 crore in the previous fiscal.Emails by PTI sent to Ola remained unanswered.<keyword id="2385099" type="UNKNOWN" weightage="20" keywordseo="Anchal-Agarwal">Anchal Agarwal</keyword>, co-founder of research and analytics firm <keyword id="4159482" type="UNKNOWN" weightage="20" keywordseo="Tofler">Tofler</keyword> said while the absolute amount of losses have indeed widened, the loss margin has "reduced considerably"."They spent almost Rs 8.5 for every rupee earned in 2014 -15. That number is down to almost Rs 4 for every rupee earned for 2015-16. With the pull-back in incentives etc in recent months, it's possible this has now dropped to levels at par with e-commerce companies that spend roughly Rs 2-3 for every rupee earned," she added.The consolidated numbers include financials of ANI Technologies, Ola Fleet Technologies (leasing business), <keyword id="1062211" type="UNKNOWN" weightage="20" keywordseo="Serendipity-Infolabs">Serendipity Infolabs</keyword> (Taxi For Sure) and Zipcash Card Service (46 per cent ownership).In August 2016, Ola shut down the TaxiForSure (TFS) business, about 18 months after acquiring the rival for USD 200 million.As per the filing, Ola's losses were widened on account of employee related expenses rising over five-fold to Rs 461.60 crore in the said fiscal from Rs 85.16 crore in 2014- 15. Similarly, Ola expanded its advertising and promotional expenditure to over Rs 437.89 crore in 2015-16 from Rs 99.84 crore in the previous year.Both Ola and Uber have loosened their purse strings to bring more riders and driver partners on board, offering them discounted rides and incentives, in a bid to wrest control of the lucrative Indian market.Over the last few years, the explosion of smartphones in India the world s second largest telecom market in terms of subscriber base has made it more convenient for consumers to book a cab on the go through apps and secure payment options.Companies like Ola and Uber have made booking a taxi ride as easy as a couple of quick taps on the phone screen.Since ANI Technologies is not a publicly-traded company, it is not obligated to disclose quarterly performance. It has raised investments of over USD 1.5 billion from investors, including <keyword id="163404" type="COMPANY" weightage="20" keywordseo="Softbank">SoftBank</keyword> Group, Tiger Global, Matrix Partners, Steadview Capital, <keyword id="270604" type="ENTERTAINMENT" weightage="20" keywordseo="Sequoia">Sequoia</keyword> India, Accel Partners US and Falcon Edge.In November, Ola raised about USD 250 million from SoftBank, albeit at a lower valuation of USD 3 billion (compared to USD 4.5 billion earlier). The company's Board has recently approved a proposal to raise another USD 100 million from investors, which it said would be "primarily to fund its expansion plans".Ola, which has a presence in 110 Indian cities compared to Uber's operations in 29 cities, has been aggressively expanding its portfolio of services. It has a number of offerings like Micro (affordable), Mini, Prime (sedan), Lux (luxury), Outstation, Share (shared rides), Auto, Rentals, Shuttle (buses) and e-rickshaw. Ola, which claims to have over 6,00,000 vehicles across cabs, auto-rickshaws and taxis, is also placing big bets on new technologies like electric vehicles to stay ahead of competition

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