Cab aggregators Uber and Ola have decided not to proceed with plans to expand parking spots and kiosks at railway stations. The two companies have halted any further acquisition of additional parking rights since the return on investment has not been rewarding. Unlike airports, railway stations are located at the centre of the city and only limited parking spaces are available in its premises, a source said. The two companies currently have parking spaces at railway stations in Mumbai, New Delhi and Bengaluru.
JM Financial has a BUY call on Cholamandalam Financial Holdings (CFH) with a one year target price of Rs 620. The current market price of CFH is Rs 490. CFH offers a very dicersified exposure to both a consumer NBFC and general insurance in the financial services category. Cholamandalam Investment & Finance (CIFC) is the third largest asset finance company in India and Chola MS Insurance is the seventh largest private general insurer.
The Karnataka State Transport Authority on Monday revoked the suspension order on cab aggregator firm Ola as the ride-hailing company agreed to pay a fine of Rs 15 lakh. The penalty was levied as Ola had violated the aggregators’ license by running bike taxis. On Friday, the authority had issued suspension order to Ola for running “illegal bike taxi services in Bengluru.” The commissioner said Ola has withdrawn bike taxi services and promised to follow the regulatory framework.