Hospitality major Oyo will refile its initial public offering (IPO) papers with markets regulator Securities and Exchange Board of India (SEBI) after refinancing its existing $450 million Term Loan B (TLB) at a lower interest rate. Oravel Stays Ltd, which operates the travel-tech company Oyo, is close to finalising its refinancing plans where the company is considering raising $350-450 million (Rs 2,908.5 crore-Rs 3,739.5 crore) through a bond issuance, at an estimated interest rate of 9-10 per cent per annum, sources told on Saturday.

Hari Om Rai, Managing Director of homegrown electronics manufacturer Lava International, has resigned from the board and does not hold any directorial position anymore, the company informed on Saturday. In a statement, the company said that Rai resigned from Lava board in the last financial year (FY24). "Currently, he is not the Managing Director of the company and does not hold any directorial position in the company," a Lava spokesperson said.

Billionaire Sajjan Jindal-led JSW Steel on Friday reported a 64 per cent decline in its consolidated net profit to Rs 1,299 crore for the January-March quarter of 2023-24 compared to the corresponding figure of Rs 3,664 crore in the same period last year.The steel major’s revenue from operations in the fourth quarter declined marginally to Rs 46,269 crore from Rs 46,962 crore in the same period of the previous year, according to a regulatory filing.

An Air India flight, with 180 passengers onboard for Delhi, narrowly avoided a collision with a tug tractor as it was taxiing towards the runway at Pune Airport, an airline official said on Friday. The incident occurred on Wednesday at Pune airport. The plane sustained damage to its nose and a tyre near the landing gear following the encounter with the tug tractor. However, despite the incident and resulting damage, all passengers and crew members aboard were reported as safe.

Aligning with India’s data localisation norms, Google Cloud on Friday announced to bring its AI-powered security operations (SecOps) region to India. The enterprises in the country can now store their Google security operations customer data in the Mumbai region. “Today’s complex threat landscape, combined with talent shortages, requires immediate and innovative solutions. Gemini in Google Security Operations is a catalyst to supercharge our customers’ security operations, a game changer to drive operational excellence with Google’s AI at scale,” said Jyothi Prakash, India Head of Google Cloud Security.

Nearly one out of five imported vehicles in South Korea were battery-powered ones in the January-April period despite slowing sales of electric vehicles (EVs) globally, industry data showed on Friday. In the first four months, registrations of pure EVs jumped to 13,863 units from 5,417 during the same period of last year, accounting for 18.2 per cent of overall vehicle imports, according to data from the Korea Automobile Importers & Distributors Association (KAIDA).

Public sector natural gas giant GAIL on Thursday reported a 67 per cent increase in net profit at Rs 8,836 crore for the financial year 2023-24 compared to the corresponding figure of Rs 5,302 crore in 2022-23. According to a company statement, GAIL's annual revenue from operations rose to Rs 1,30,638 crore in FY24 against Rs 1,44,302 crore in FY23. For the January-March quarter of 2023-24, the company's net profit declined to Rs 2,177 crore against Rs 2,843 crore in Q3 FY24.

Adani Energy Solutions Ltd (AESL), on Thursday, announced that it has acquired 100 per cent stake in Essar Transco Ltd for Rs 1,900 crore. The acquisition covers a fully operational 400 kV, 673 ckt kms (circuit kilometres) inter-state transmission line, linking Mahan in Madhya Pradesh to Sipat pooling substation in Chhattisgarh. “The acquisition of Mahan-Sipat transmission network will consolidate AESL’s presence in central India with four operating assets having 3,373 ckt km in the region,” the company said in a statement.

As the Indian government aims to curb the use of ‘dark patterns’ on e-commerce platforms, the US state of Arizona has filed two new lawsuits against Amazon, accusing the e-tailing giant of deceiving consumers with "dark patterns." One of the lawsuits accuses the company of “engaging in deceptive business practices” by allegedly using “design tricks known as dark patterns to keep users from cancelling their Amazon Prime subscriptions.” The other lawsuit, filed by Arizona Attorney General Kris Mayes, accuses Amazon of “unfairly maintaining monopoly status by enforcing agreements with third-party sellers that restrict them from offering lower prices off of the platform than they do on Amazon."

Government-owned Power Finance Corporation (PFC) on Wednesday reported an 18.4 per cent increase in net profit at Rs 4,135 crore for the Jan-March quarter of 2023-24 compared to the same period of the previous financial year.