Ford Motor has decided to shut both its manufacturing facilities in India and has blamed the decision on lack of profitability. In an official statement, Ford said that with accumulated operating losses of more than $2 billion over the past 10 years, it is now looking to ‘create a sustainably profitable business in India.
Ethnic wear retailer Fabindia Overseas is gearing up for its initial stake sale as it has hired five investment banks to raise up to $1 billion through the primary offering.
Ola Electric on Wednesday postponed putting on sale its highly anticipated S1 and S1 Pro electric scooters by a week but said that deliveries would not be delayed, after facing technical difficulties with making its website for purchases live.
