OLX to expand used car business offline

New Delhi

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OLX on Monday announced offline expansion of its used car business with plan to set up 150 outlets in 40 cities across India by 2021. The company, which has been running a pilot in six top cities in the country with around 30 outlets, is now accelerating the business under ‘OLX Cash My Car’ chain in partnership with Berlin-based Frontier 

Car Group. PTI

New Delhi

Sun Pharma to acquire Japan’s Pola Pharma

Sun Pharma said on Monday it will acquire Japan-based Pola Pharma for around $1 million to strengthen its presence in dermatology segment across the globe. Pola Pharma is engaged in R&D, manufacture, sale and distribution of branded and generic products in Japan, Sun Pharmaceuticals said. Pti

Mumbai

Jet Airways fires 16 more people to cut cost

Crisis-hit Jet Airways continues to use layoffs in small chunks as one of the means to reduce cost with the carrier handing over pink slips to around 16 more employees, a source said Monday. These employees were working as ground staff in Jet Airway’s Kochi and Hyderabad offices, as per the source. PTI

New Delhi

HEG Board approves 

Rs 750-cr share buyback

Graphite electrode maker HEG on Monday said its Board has approved a share buyback offer worth Rs 750 crore. Besides, the Board has cleared an investment proposal of Rs 1,200 crore to expand the graphite electrodes and related products capacity by 20,000 tonne per annum. PTI