Following reports of regulatory scrutiny and fresh raids on company’s stores, Ola Electric’s stock price took a hit on Thursday as shares dropped by 4.05 per cent to Rs 51.64 apiece on the Bombay Stock Exchange (BSE).

The electric vehicle maker's challenges deepened as authorities in Madhya Pradesh conducted raids on its stores.

At least six Ola Electric stores were inspected -- two in Jabalpur and four in Indore -- on March 12 and March 18, as per reports. These stores were selling electric scooters allegedly without proper trade certificates.

During the raids, officials impounded 14 scooters in Jabalpur, while no vehicles were seized in Indore. The affected stores were given a three-day notice to provide an explanation for the violations, the reports mentioned.

The actions on Ola Electric stores in Madhya Pradesh came after similar raids took place in Maharashtra. Over the past three days, officials from five regional transport offices carried out inspections at 26 Ola Electric stores in Mumbai and Pune.

Joining a series of automakers, BMW Group India on Thursday announced a price increase of up to 3 per cent across its BMW and MINI car range.

According to the official notification, the revised prices will come into effect from April 1, 2025. However, the company has not specified which models will see the highest price increase.

The latest price adjustment by BMW India is driven by rising input costs, which have been increasing due to higher material expenses.

The adjustment will affect both luxury sedans and SUVs in BMW’s lineup, including the company’s locally produced models.

Automakers, including original equipment manufacturers (OEMs), generally revise car prices twice a year.

Several major global companies, including Amazon, Morgan Stanley and Goldman Sachs, are planning massive job cuts in 2025 as they focus on reducing costs and streamlining operations in the artificial intelligence (AI) era.

The rise of AI and global economic uncertainties are key reasons behind these layoffs.

Amazon, one of the world's largest e-commerce companies, is planning to eliminate approximately 14,000 managerial roles, according to reports.

The company aims to save around $3 billion annually through this move. CEO Andy Jassy has set a goal to increase the ratio of individual contributors to managers by 15 per cent by the first quarter of 2025.

This decision follows Amazon's recent shift to a five-day workweek, which some employees believe is a way to encourage voluntary resignations.

Joining the league of other automakers, Hyundai Motor India on Wednesday announced a price hike of up to 3 per cent on its cars, effective from next month.

The company cited rising input costs, higher commodity prices, and increased operational expenses as the reasons for the price adjustment.

In its filing to the stock exchanges, Hyundai clarified that the exact increase will vary depending on the model and variant. "The quantum of price increase will vary basis the variants and models”.

Ride-hailing major Uber India continued to struggle with profitability despite strong revenue growth, as rising expenses weighed heavily on its financial performance, its latest financials showed.

The company’s total expenditure surged by 26.4 per cent to Rs 3,977 crore in FY24, driven largely by employee costs, legal fees, advertising and operational expenses.

Employee costs alone accounted for nearly 68 per cent of overall spending, growing by 29.4 per cent to Rs 2,690 crore in the fiscal year ending March 2024.

Tech major Google on Tuesday announced to acquire Wiz, a leading cloud security platform headquartered in New York, for $32 billion in an all-cash transaction.

Once the acquisition is closed, Wiz will join Google Cloud. This acquisition represents an investment by Google Cloud to accelerate two large and growing trends in the AI era -- improved cloud security and the ability to use multiple clouds (multi-cloud).

“From its earliest days, Google’s strong security focus has made us a leader in keeping people safe online. Today, businesses and governments that run in the cloud are looking for even stronger security solutions, and greater choice in cloud computing providers,” said Sundar Pichai, CEO, Google.

“Together, Google Cloud and Wiz will turbocharge improved cloud security and the ability to use multiple clouds,” Pichai added.

Kia India on Tuesday announced a price hike of up to 3 per cent across its entire lineup, which will take effect from April 1.

The company stated that the decision was driven by rising commodity prices and increasing supply chain costs.

“As a brand committed to providing exceptional value and quality to our customers, we have always strived to offer the best vehicles at competitive prices,” said Hardeep Singh Brar, senior vice president, sales and marketing, Kia India.

Led by electric two-wheelers, the number of electric vehicles (EVs) incentivised under the FAME India scheme Phase-II reached 16,15,080 till March 11, the government said on Tuesday.

While 14,28,009 electric two-wheelers received incentives, 1,64,523 electric three-wheelers and 22,548 electric four-wheelers also received incentives, said Minister of State for Steel and Heavy Industries, Bhupathiraju Srinivasa Varma, in a written reply in the Lok Sabha.

The Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME India) Scheme Phase-II was implemented for a period of five years from April 1, 2019, with a total budgetary support of Rs 11,500 crore.

The scheme incentivised the sale of electric vehicles -- e-2Ws, e-3Ws and e-4Ws.

Life Insurance Corporation of India (LIC) is planning to acquire a stake in a standalone health insurance company by the end of the current financial year (FY25), its Managing Director and Chief Executive Officer Siddhartha Mohanty said on Tuesday.

However, he did not disclose the name of the company in which LIC is looking to invest. Mohanty said that the discussions are in the final stage.

"We have plans. Discussions are at the final stage. It is a natural choice for LIC to enter the health insurance sector," Mohanty said in his speech at the Global Conference of Actuaries in Mumbai.

He added that "since regulatory approvals take time, I am hopeful that a decision will be taken within this financial year, before March 31".

Global trade and tariff uncertainties could become a catalyst for reforms in India over the medium term and for growth results, the reforms must run deep, an HSBC Research report said on Tuesday.

Potential US tariffs may have already become a catalyst for reforms like lowering import tariffs, opening up to regional FDI, fast-tracking trade deals, and making the Indian rupee more flexible.

"And India does not have to look too far for models to emulate. Its success in services exports has demonstrated the power of moving up the value chain, from basic (call centre services) to high-tech (professional services)," said the report.

India's goods trade deficit narrowed sharply in February to $14.1 billion, from $23 billion in January.