BUSINESS DUNIYA

In which we munch over the week's platter of news and views from Companies https://ift.tt/0paL1GC via IFTTT

While BlackRock has slashed Byju's valuation by nearly 50 per cent, Invesco has cut Swiggy's stake value by over 23 per cent from Companies https://ift.tt/VjaIMz6 via IFTTT

Waaree Renewable Technologies has bagged a one MW green hydrogen project in Maharashtra on a build-own-operate basis from Mahatma Phule Renewable Energy & Infrastructure Technology Ltd. "The company has received Letter of Intent (LOI) dated March 31, 2023, for executing a 1 MW Green Hydrogen project in Maharashtra on a Built-Own-Operate basis," a BSE filing stated. The project will be executed within 12 months. It is awarded by Mahatma Phule Renewable Energy & Infrastructure Technology Ltd, it showed. from Companies https://ift.tt/1zj2uip via IFTTT

Nutrition snacking start-up Kikibix has raised USD 300,000 from founders and co-founders of nine unicorns, including Mama Earth, Pristyn Care, Fashinza etc, the company said on Friday. Early-stage venture capital firms Blume Ventures led the funding round and US-based Angelist also participated in the fundraising. Founded by paediatrician Ridhi Kaur in 2022, the company makes cookies in flavours such as Cranberry Oats, Gur Chana, Ragi Mocha, Coconut, Figs, and Date Almonds. Mama Earth Founder Varun Alagh, Mosaic Wellness Co-founder and CEO Revant Bhate, Pristyn Care Co-Founders Vaibhav Kapoor and Garima Sawhney, EaseMyTrip Co-Founder Prashant Pitti, Fashinza Co-Founder Abhishek Sharma participated in the funding round. Kaur said that in the last six months, the company had seen 10 times growth in its monthly revenues. The organization plans to use the funds to launch more product categories, build a team and enter more distribution channels across the country. from Companies https://...

Zee Entertainment Enterprises Ltd (ZEEL) has entered into a one-time settlement agreement with Standard Chartered Bank for the loan taken by Siti Networks, a part of the Essel Group. Standard Chartered Bank had sanctioned certain credit facilities to Siti Networks, which was inter-alia secured by DSRA (Debt Service Reserve Account) support and undertaking from ZEEL. "Since the Borrower has defaulted in its debt repayment obligations to the Bank, the Company has entered into a one-time settlement agreement with the Bank in respect of DSRA Claims/Undertaking in the interest of amicably resolving the issues between the parties," said ZEEL in a regulatory filing on Thursday. Though the company, which is merging with rival Culver Max Entertainment Pvt Ltd, formerly known as Sony Pictures Networks India, has not mentioned the amount. Siti Networks, formerly known as Wire and Wireless Ltd, is a multisystem operator promoted by media baron Subhash Chandra-led Essel Group. Earlier thi...

Ming-Chi Kuo, a top Apple analyst, said that the company is not positive that its mixed-reality headset will recreate "the astounding iPhone moment" from Companies https://ift.tt/0tKasP9 via IFTTT

The push to modernise underscores the decay left by years of under-investment as Air India looks to shed decades-old bureaucratic processes and recapture customers from Companies https://ift.tt/SrsgCDX via IFTTT

Top executives of Chinese e-commerce and financial giant Alibaba said Thursday that the company is moving toward giving up control of some of its business units in a transition toward becoming a capital operator to optimise the value of its sprawling businesses. Alibaba CEO Daniel Zhang outlined details of a plan announced earlier this week to split Alibaba into six main groups as a prelude toward stock listings of some of its companies. The restructuring marks a new stage in Alibaba's growth after a series of setbacks as regulators cracked down on it and other tech companies. Alibaba, whose headquarters is in the eastern city of Hangzhou, will be in the nature of a holding company that is the controlling shareholder of the business group companies, Zhang said in a conference call. Alibaba's CFO, Toby Xu, said the company would continue to evaluate the strategic importance of group companies after they go public and decide whether or not to retain control. He declined to say wh...

Air India will provide 26 weeks of maternity leave to women employees as well as daycare support under its revamped policies. Besides, the airline will give women pilots the choice to opt for quicker turnaround flights till the child reaches the age of one year. The option will be subject to request and availability, according to an internal communication. The revised policies, to be effective from April 1, are part of the carrier's 'MOMS - Returning Mothers Programme'. MOMS refers to 'Making Our Mothers Soar'. Women employees will get maternity leave for 26 weeks, including for commissioning and adopting mothers, as per the communication. Currently, the maternity leave is for 12 weeks. A commissioning mother refers to one who commissions a surrogate mother to bear a child on her behalf while adopting mother is one who legally adopts a child. Under the programme, a woman employee can avail of nutrition guidance and day care facility on a co-pay model. There will als...

OYO-owned Weddingz.in on Thursday announced a strategic tie-up with Lemon Tree Hotels in a bid to boost revenue, drive demand and sales. The alliance will help increase the fill rate of banquets and event spaces in Lemon Tree Hotels, in more than 40 destinations across the country, including Delhi NCR, Jaipur, Kolkata, Lucknow, Bhubaneswar, Mumbai and Pune, among others. Weddingz.in is an online platform offering wedding venues and related services. It was acquired by hospitality tech firm OYO in 2018. "Lemon Tree venues will feature prominently on the Weddingz.in platform, which gets over 19 lakh prospective customers per month, as India's largest wedding venue marketplace," a release stated. Weddingz will craft specific targeted campaigns and undertake search engine marketing and performance marketing campaigns to drive higher interest, it added. "We have millions of visitors searching our platform not just for wedding venues but also for other events such as parti...

The outlook revision indicates that the standalone credit profile of AAHL may weaken from Companies https://ift.tt/4oW7Jb0 via IFTTT

The loans are benchmarked to SBI's six-month marginal cost of funds-based lending rate (MCLR) and are priced 50 basis points (bps) above it from Companies https://ift.tt/wJQZrlm via IFTTT

It's also dialing back on ambitions to dive further into aluminum, steel and road projects, said the people from Companies https://ift.tt/hEB41Do via IFTTT

JSW Energy on Wednesday said it has completed the acquisition of 1,753 MW of renewable energy assets from Mytrah Energy (India) Private Limited (MEIPL) for over Rs 10,000 crore. "The transaction values the Mytrah Energy portfolio at an enterprise valuation of approximately Rs 10,150 crore after adjusting for net current assets and other adjustments under the share purchase agreements," JSW Energy said in a statement. JSW Neo Energy Limited (JSW Neo), a wholly-owned subsidiary of JSW Energy Limited, in a two-step process has completed the acquisition of 1,753 MW of renewable energy assets from Mytrah Energy, it added. The portfolio comprises 1,331 MW of wind capacity and 422 MW (487 MWp DC) of solar capacity operating primarily in the southern, western and central parts of India. The assets have a proven operational track record and long-term PPA with an average remaining life of 17 years. This is the largest acquisition made by JSW Energy since inception and will leapfrog the...

This will provide some respite to debt venture firms Stride Ventures, which had over Rs 100 crore invested in the startup from Companies https://ift.tt/14Atm6D via IFTTT

The overall targeted amount for the second fund, which will be domiciled in the GIFT City, is $1.6 billion from Companies https://ift.tt/bpKgGlm via IFTTT

In a Q&A, the MD & CEO of the firm dwells on its business model and the focus on retail assets to drive volume, going forward from Companies https://ift.tt/PijMdbH via IFTTT

Honda Motorcycle & Scooter India on Tuesday said it has launched latest version of its scooter Activa125 with upgraded engine priced at Rs 78,920 (ex-showroom, Delhi). The 2023 Activa125 now conforms to the stricter emission norms which will be effective from next month. "With this new model, we have leveraged the latest technology to ensure that our customers can enjoy a smooth and hassle-free ride while meeting the latest norms," Honda Motorcycle & Scooter India (HMSI) Managing Director, President & CEO Atsushi Ogata said in a statement. The Indian automobile industry is currently working to make products meet the second phase of BS-VI norms in real-time driving conditions. Automobiles will need more sophisticated equipment to meet the next level of emission standards. The second phase of BS-VI emission norms is set to kick in on April 1. from Companies https://ift.tt/7xoTqFt via IFTTT

Avaada Group, backed by Thailand's oil and gas major PTT Pcl, was also awarded a grant, according to its chairman, Vineet Mittal from Companies https://ift.tt/trs1q0g via IFTTT

B2B platform connects small and medium enterprises directly to fashion brands across the world from Companies https://ift.tt/N9hCqIp via IFTTT

Vedanta dividend 2023: The company has already given four interim dividends totalling Rs 81 so far in the current financial year from Companies https://ift.tt/O0edANh via IFTTT

This is the first performance review of employees since the Tata Group took control of Air India from Companies https://ift.tt/UFgHyOM via IFTTT

Homegrown Paytm Payments Bank, the largest issuer of KYC wallets (prepaid instruments) with over 100 million users, on Monday announced that its full KYC wallet customers will be able to make payments from Companies https://ift.tt/cQfwCvs via IFTTT

Electric vehicles energy infrastructure and services provider SUN Mobility on Monday said it has entered into a partnership with online food delivery platform Zomato to power 50,000 electric two-wheelers of the latter's fleet over the next two years. Under the partnership, SUN Mobility will provide its battery swap solutions for last-mile deliveries with the initial fleet deployment to start in the National Capital. Through this association, the last-mile delivery partners onboarded on Zomato's platform will benefit from convenient and cost-effective battery swapping solutions for their e-2Ws (electric two-wheelers), the company said in a statement. The association with Zomato is a significant step towards achieving SUN Mobility's goal to build a sustainable and environmentally friendly ecosystem, SUN Mobility CEO Anant Badjatya said in a statement. "By deploying 50,000 electric two-wheelers in Zomato's fleet, we are reducing our carbon footprint by 5,000 MT/month ...

In India, Daikin will begin a new plant in August, and it will manufacture air conditioners and compressors from Companies https://ift.tt/pgKFZvG via IFTTT

Singapore, March 27 (ANI): Last week, a report published by Bloomberg Media Studios in partnership with DBS, the largest bank in Southeast Asia, revealed that while 85 per cent of medium-sized and 75 per cent of small companies state that ESG (environmental, social, and corporate governance) is a high priority, only 37 per cent have a clear roadmap on how to achieve their goals.The report published in the form of an e-book and titled "Catalyst of Sustainability", was a result of a survey conducted in August last year involving 800 SMEs (small and medium-sized enterprises) across six markets in Asia namely India, China, Taiwan, Hong Kong, Indonesia and Singapore.The study engaged over 937 decision-makers in industries covering real estate, mobility, power, agriculture and F & B/Hospitality. In-depth interviews with 11 decision-makers from SMEs were also conducted to further understand the barriers and opportunities around sustainability.SMEs have an important role to play ...

In the near term, higher R&D costs and a recent acquisition to weigh on earnings growth from Companies https://ift.tt/8c136QY via IFTTT

Luxury carmaker Lexus is looking to expand its customer base in India, enhance sales infrastructure as part of its strategy to grow sales in the country which is expected to see the premium segment return to pre-Covid levels this year, according to a top company official. The company, which is the luxury car arm of Japanese auto major Toyota, completed six years in India earlier this month and now plans to consolidate its position with a slew of measures to bring in additional volumes and growth. In an interaction with PTI, Lexus India President Naveen Soni said the company intends to increase sales contribution from professionals like doctors, architects, lawyers, pilots and people working in corporates, among others, in order to de-risk the business. Currently, a majority of the company sales in the country comes from people engaged in business activities, he noted. "Business class is the most important class which we serve in general...There can be some impact on exporters and ...

Drug firm Zydus Lifesciences is recalling over 55,000 bottles of generic medication in the US market due to failed impurities specifications. As per the latest enforcement report by the US Food and Drug Administration (USFDA), Zydus Pharmaceuticals (USA) Inc is recalling 21,936 (30 count) and 33,096 (100 count) bottles of Colchicine tablets, which are used to treat gout. The affected lot is manufactured by Ahmedabad-based Zydus Lifesciences and marketed in the US by New Jersey-based Zydus Pharmaceuticals (USA) Inc. USFDA said the company is recalling the product due to "failed impurities/ degradation specifications". An out-of-specification (OOS) result was observed during release testing of one lot for a related substance, i.e. Beta-lumicolchicine, it added. Zydus commenced the Class III recall on February 24 this year. As per the USFDA, a Class III recall is initiated in a "situation in which use of, or exposure to, a violative product is not likely to cause adverse he...

The order placed by the Railways is for the supply of seats and interior panels for Vande Bharat trains and "not to manufacture its coaches", a Tata Steel official has clarified. As part of the Rs 225 crore order, Tata Steel will supply light-weight seats for 23 coaches of Vande Bharat rails and fibre-reinforced polymer composites-based interior panels for 16 coaches of the high-speed train, Debashish Bhattacharjee, Vice President (VP) - Technology & New Materials Business of Tata Steel, told PTI. Some sections of the media have reported that Tata Steel has bagged orders for manufacturing coaches of Vande Bharat trains, which is "incorrect and baseless. We have not received the order to manufacture its coaches," he said. "Tata Steel has bagged the seats and interior panels order through a competitive bidding process executed by the national transporter (the Railways). We appeared as L1 for the prestigious order," he said, adding that the value of the o...

Electric vehicles (EV) financing digital platform RevFin Services is targeting to finance 20 lakh vehicles in the next five years, with an aim to grow three to four times every year, according to its CEO & Founder Sameer Aggarwal. With the Indian electric vehicle industry poised for an accelerated growth, he said the company is confident of meeting its target and would continue to raise funds through debt and equity going forward for the purpose. "From a long-term perspective we have taken a very strong position on EVs, and we have committed to financing two million electric vehicles in the next five years," Aggarwal told PTI. Asked if the target is not too steep, considering RevFin has financed 17,118 EVs in the last 51 months, he said,"The monthly loan disbursement is growing month-on-month by about 15 per cent. So overall, it has grown almost four times in the last one year. If we continue the kind of growth that we are currently on we will actually achieve these ...

The revised Hinduja stand has put Indian lenders, with an exposure of Rs 24,000 crore, in a spot as it was the Hindujas offer which led to a call for second auction and litigation by the other bidder from Companies https://ift.tt/j68lmDG via IFTTT

Leading smartphone and smart TV brand Xiaomi India on Friday announced a collaboration with the United Way India to upskill the transgender community in the country. from Companies https://ift.tt/cpjdhtP via IFTTT

The only resolution done for a financial services company under special powers of RBI Section 227 was DHFL which was won by Piramal Group from Companies https://ift.tt/1VRSPLr via IFTTT

TII will acquire 67 per cent, while Premji Invest will acquire the remaining 33 per cent from Companies https://ift.tt/4kErIhd via IFTTT

Accenture's management said that for a record quarter (Q2), the company managed to deliver with the existing talent base from Companies https://ift.tt/nLcuID5 via IFTTT

Earlier, to increase share in beverages market, prices of Campa Cola were cut from Companies https://ift.tt/84ePWD3 via IFTTT

Indian automaker Mahindra and Mahindra Ltd is in advanced talks with global investors to raise between $1 billion and 1.3 billion to accelerate the expansion of electric vehicle unit, Mint reported from Companies https://ift.tt/1Mrqxl2 via IFTTT

Fair-trade regulator CCI on Friday said it has approved the proposed deal of GMR Airports Infrastructure and Aeroports de Paris SA (ADP) under the green channel route. The proposed combination involves ADP's proposed acquisition of and subscription to foreign currency convertible bonds (FCCB) issued by GMR Airports Infrastructure Ltd, according to a CCI notice. The Competition Commission of India (CCI) has cleared the deal. It has also given nod to the proposed intra-group merger of GMR Airports Ltd and GMR Infra Developers Ltd (GIDL) with and into GMR Airports Infrastructure Ltd. Also, the regulator has given its nod to the proposed acquisition by ADP (and its group entities) of equity shares and optionally convertible redeemable preference shares of GMR Airports Infrastructure post-merger, CCI said. On March 19, GMR Airports Infrastructure Ltd (GIL) announced the merger of GMR Airports Ltd with GIL. ADP is an international airport operator owned by the French Government, while G ...

Edtech major BYJU's on Friday denied reports that it is considering a merger of rival Gaurav Munjal-run Unacademy into Aakash Educational Services from Companies https://ift.tt/2w3KG4e via IFTTT

Akshay Tripathi, special secretary, IT and Electronics, said that out of 8,714 registered startups in the state, 4305 are run by women entrepreneurs from Companies https://ift.tt/UcNHSl5 via IFTTT

The Delhi Metro Rail Corporation on Thursday told the Delhi High Court that attachment of its statutory expenses will result in immediate stoppage of the entire Metro network in the national capital from Companies https://ift.tt/HvGrp3w via IFTTT

Anil Agarwal-led Vedanta Ltd on Thursday said its board will next week consider and approve the fifth interim dividend for FY'23. The announcement comes days after Vedanta Resources which is a majority shareholder of Vedanta Ltd stating that it has enough means to meet debt repayment liabilities in the coming quarters as it looked to assuage investor concerns around its financial position. "The meeting of the board of directors of the company (the board) is proposed to be scheduled on Tuesday, March 28, 2023, to consider and approve the Fifth Interim Dividend on equity shares, if any, for the Financial Year 2022-23," the company said in a regulatory filing. In a statement, Vedanta Resources had said it is in the advanced stage of finalisation to tie-up USD 1.75 billion through a combination of syndicate loan and bilateral bank facilities. Vedanta Resources had said it had pre-paid all of its debt that was due for repayment till March 2023, deleveraging by USD 2 billion in...

Mercedes-Benz is the market leader in the luxury car market of India with about 44 per cent share from Companies https://ift.tt/d41YPag via IFTTT

'Desk bombing', 'loud leaving' and Thursday being the new Friday are new workplace trends, say report from Companies https://ift.tt/4aHoYMP via IFTTT

Share sale firms up state-owned defence firm's chances of MSCI India inclusion from Companies https://ift.tt/zrHQ6lq via IFTTT

Glenmark Pharmaceuticals on Thursday said it has received an approval from the US health regulator to market a generic medication to treat plaque psoriasis. The company has received final approval from the US Food & Drug Administration (USFDA) for Calcipotriene and Betamethasone Dipropionate Foam, the generic version of Leo Pharma's Enstilar, Glenmark Pharma said in a statement. The USFDA noted that the Mumbai-based drug firm was the first abbreviated new drug application (ANDA) applicant with a paragraph IV certification for Calcipotriene and Betamethasone Dipropionate Foam, it added. "Therefore, with this approval, Glenmark is eligible for 180 days of generic drug exclusivity for Calcipotriene and Betamethasone Dipropionate Foam," the drug firm said. According to IQVIA sales data for the 12-month period ended January 2023, Enstilar Foam (0.005 per cent/0.064 per cent) achieved annual sales of around USD 93.6 million. Shares of the company were trading 0.49 per cent ...

The Tata Group company announced on March 17 that negotiations regarding the potential acquisition of Ramesh Chauhan's Bisleri International had ceased from Companies https://ift.tt/bcy7KV1 via IFTTT

Agarwal is evaluating the possibility of divesting a less than 5% stake in the Mumbai-listed company, said the people, who asked not to be identified as the information is private from Companies https://ift.tt/XWuxPEZ via IFTTT

Railtel Corporation of India Limited, a central public sector undertaking under the Ministry of Railways has bagged an order from the Madhya Pradesh State Electronics Development Corporation Ltd from Companies https://ift.tt/Gipn4du via IFTTT

Worried about star performers being poached from Companies https://ift.tt/IfQMvro via IFTTT

Indian automaker Mahindra and Mahindra Ltd is in advanced talks with global investors to raise between $1 billion and 1.3 billion to accelerate the expansion of electric vehicle unit, Mint reported from Companies https://ift.tt/YM381sQ via IFTTT

Shukla, who's worked for the company for more than three decades, is attempting to change its profile, branching out from construction of fossil-fuel plants into new areas from Companies https://ift.tt/fhD5ayT via IFTTT

The board of Invest India has appointed Manmeet K Nanda as the Managing Director and Chief Executive Officer of the investment promotion and facilitation body under the commerce ministry. Nanda succeeds Deepak Bagla, who resigned from the post last week. In its meeting held on Monday, the board approved the appointment of Nanda, an IAS officer of the West Bengal Cadre of 2000 Batch, as the new MD and CEO, the Commerce Ministry said in a statement on Tuesday. Further, the board "appreciates Deepak Bagla for his exceptional leadership and commitment in establishing Invest India, a shining example of the government's unique experiment, as the world's most awarded Investment Promotion Agency, in a short span of eight years," the ministry said. from Companies https://ift.tt/kGI42dL via IFTTT

Finolex Cables, which leads the electrical and communication cables segments, hopes to net Rs 500 crore in revenue from each of the five fast-moving consumer electrical segments it recently entered, by fiscal 2028, which will also help it more than double its present revenue. The Pune-headquartered company made around Rs 200 crore, or about 5 per cent of its top line last fiscal from these segments. It also expects to more than double its turnover to Rs 11,000 crore by that time, which is likely to sniff at Rs 5,000 crore this fiscal going by the first nine months' numbers with the December quarter alone crossing Rs 1,150 crore. The company entered the fast moving consumer electric segment in 2020 and have already made some good traction with our switches, ECBs, fans, lightings, and water heaters. Last year we closed with around Rs 200 crore, or about 5 percent of the top line. "Over the next five fiscals, we hope to make Rs 500 crore from each of these five new products or ab...

Turkish Airlines is looking for cooperation with Air India as the carrier looks to expand in the Indian market, a top executive said on Tuesday. At present, Turkish Airlines is closely cooperating with IndiGo, including a codeshare partnership. Turkish Airlines CEO & Board Member Bilal Eksi pitched for more cooperation with Indian carriers and said that it can cooperate with Air India as that will also support both counties as well as tourism. "We are not getting enough (of Indian market)... we are trying to expand. This is the time for Turkish Airlines to expand operations in India," he said. He noted that there was not enough capacity between India and Turkiye, which is also a wedding destination for many Indians. "We can work together with Air India... can earn together and support both countries," he said. from Companies https://ift.tt/YmdzSwO via IFTTT

Company says it's only e-commerce platform to fintegrate its buyer and seller platforms on platform from Companies https://ift.tt/lKrLpPi via IFTTT

State-owned NMDC on Tuesday said it has hiked price of iron ore lumps by Rs 100 to Rs 4,500 per tonne with immediate effect. The country's largest iron ore miner has also increased rate of iron ore fines by Rs 200 to Rs 4,110/tonne, NMDC said in a regulatory filing. The prices are effective from Tuesday and exclude royalty, district mineral fund (DMF), National Mineral Exploration Trust (DMET), cess, forest permit fee and other taxes, the company said. Lump ore or high-grade iron ore contains 65.53 per cent Fe (iron), while fines are inferior grade ore with 64 per cent and less Fe content. In the last price revision announced on February 2, NMDC fixed the rate of the lump at Rs 4,400 per tonne and that of fines at Rs 3,910 a tonne with immediate effect. Iron ore is one of the key raw materials used in manufacturing of steel, and any movement in its prices has a direct impact on rates of steel, an alloy widely used in segments such as construction, infrastructure, automobile and . ...

The South Korean electronics major plans to invest in setting up smart manufacturing capabilities at its second-largest mobile phone plant in Noida from Companies https://ift.tt/QFiJ28f via IFTTT

Ravish Sinha, senior VP at Flipkart, has resigned. He was the VP of engineering before taking up the role of SVP of supply chain from Companies https://ift.tt/7DABQsq via IFTTT

A spokesperson for First Republic pointed to an earlier statement where the bank said it was "well-positioned to manage short-term deposit activity" from Companies https://ift.tt/M6doZyY via IFTTT

Real estate firm Ganga Realty will invest Rs 750 crore to build an affordable housing project in Gurugram. The company will develop 2,972 apartments in new project 'Tathastu', which is spread over 22 acres in Sector 5, Sohna-Gurugram. The price of the apartment starts from Rs 25 lakh. "The company will spend Rs 750 crore to build an affordable housing project," Ganga Realty said in a statement. Vikas Garg, Joint Managing Director of Ganga Realty, said the total project cost is Rs 750 crore and this will be funded through internal accruals and customer advances. The project is expected to be delivered by the first quarter of 2027. Garg noted that Sohna is primarily an end user driven market. In affordable housing segment, realty firm Signature Global is a leading player in the Gurugram market. According to property consultant Anarock, sales of residential properties in Gurugram jumped over two-fold to 32,617 units during 2022 on higher demand across all price categorie...

Air India will reduce the frequency of flights on certain US routes due to crew shortage issues for a temporary period, its chief Campbell Wilson said on Monday. He also said the airline will have 100 pilots for Boeing 777 planes in three months as they are being "activated" and around 1,400 cabin crew are in training. In recent months, there have been instances of some long haul flights getting impacted due to crew shortage issues. Wilson, who is the CEO and MD, said frequencies will be reduced on some US routes due to crew shortage issues. The airline has a staff strength of around 11,000 people, including flying and non-flying employees. "There is a lot happening," he said, adding that the airline is shrinking and growing now. He was speaking at the CAPA India Summit in the national capital. Tata Group took control of loss-making Air India along with Air India Express and 50 per cent stake in AIATSL in January 2022. Air India has put in place a road map under Vih...

Glenmark Pharmaceuticals on Monday said it has received approval from the US health regulator to market a generic product used to treat schizophrenia and in some cases to control severe nausea. The company has received nod from the US Food & Drug Administration (USFDA) for Prochlorperazine Maleate Tablets USP, 5 mg and 10 mg, the Mumbai-based drug maker said in a statement. The company's product is the generic version of GlaxoSmithKline's Compazine tablets, it added. According to IQVIA sales data for the 12-month period ending January 2023, the Compazine tablets 5 mg and 10 mg achieved annual sales of around USD 26.9 million. Glenmark said its current portfolio consists of 182 products authorised for distribution in the US marketplace and 46 ANDAs (Abbreviated New Drug Applications) pending approval with the USFDA. PTI MSS. from Companies https://ift.tt/7vkou5h via IFTTT

Credit Suisse crisis: Swiss government said it would provide $9 bn to help UBS meet the possible losses while taking over Credit Suisse, and Swiss National Bank will provide $100 bn of liquidity from Companies https://ift.tt/IHBNz5v via IFTTT

Market capitalisation (m-cap) of the top-10 most valued companies eroded by over Rs 2.09 lakh crore last week, with Reliance Industries and TCS taking the biggest hit amid an overall weak trend in equities. On a weekly basis, domestic equity benchmarks witnessed heavy selling. The 30-share BSE Sensex plummeted 1,145.23 points or 1.93 per cent. Corporate major Reliance Industries' m-cap plunged Rs 67,722.33 crore to Rs 15,04,001.93 crore. IT bellwethers TCS' market valuation tumbled Rs 55,654.17 crore to Rs 11,63,194.14 crore and that of Infosys nosedived Rs 21,250.8 crore to Rs 5,97,905.17 crore. The valuation of State Bank of India (SBI) diminished by Rs 16,108.93 crore to Rs 4,72,290.46 crore and that of ITC tanked Rs 15,226.12 crore to Rs 4,66,696.21 crore. M-cap of telecom major Bharti Airtel slumped by Rs 9,053.44 crore to Rs 4,22,177.07 crore and that of HDFC Bank declined by Rs 8,982.11 crore to Rs 8,77,318.09 crore. HDFC also witnessed a dip of Rs 8,063.79 crore in its ...

Bank of Baroda has increased interest rates on domestic retail term deposits, including NRO and NRE term deposits, by 25 basis points on select tenors. These rates are applicable on deposits below Rs 2 crore, with effect from March 17, 2023, the pubic sector lender said in a statement. Interest rates have also been hiked on the Baroda Tax Savings Term Deposit as well as Baroda Advantage Fixed Deposit, a non-callable retail term deposit scheme. The new rate on deposits of above 3 years to 5 years is 6.5 per cent and for resident Indian senior citizens, it is 7.15 per cent. For term deposits of above 5 years to 10 years, the new rate is 6.5 per cent and for senior citizens it is 7.5 per cent. Bank of Baroda had earlier increased retail term deposit interest rates in December 2022 by up to 65 basis points and in November 2022 by up to 100 basis points. from Companies https://ift.tt/UqIPAb4 via IFTTT

Realty major DLF will invest around Rs 3,500 crore over the next four years to construct a new luxury housing project in Gurugram as its seeks to tap strong demand for residential properties. DLF will develop a new group housing project 'The Arbour', which is spread over 25 acre and comprises 5 towers with a total of 1,137 premium apartments. DLF, the country's largest real estate firm in terms of market cap, sold all 1,137 units, each costing Rs 7 crore and above, for over Rs 8,000 crore within 3 days (February 15-17). In an interview with PTI, DLF Ltd CEO Ashok Tyagi said, "We will develop around 4.5 lakh square feet area in this new project." Asked about the construction cost, he said it will be between Rs 7,000-8,000 per square feet given the amenities promised in this luxury project. Tyagi said the overall construction cost has shot up due to increase in prices of key materials like cement and steel. The total construction cost will be around Rs 3,500 crore o...

German luxury carmaker Mercedes-Benz expects India to be its fastest growing market globally, maintaining the feat that it had achieved last year as well, according to a senior company official. Mercedes-Benz India, which had planned to launch ten new products this year, is delaying some of the launches, pushing it to the second and third quarters of 2023 (calender year) due to supply chain constraints with an aim to avoid further increasing the waiting period of its products. "I still see India to be shining among all the other countries. When we see our global reports the growth is still there in India even in the first two months of the year. (It is) too early to call for the full year but if I have to go by the first two months results, it is quite strong and positive compared to many other markets across the world," Mercedes-Benz India Managing Director & CEO Santosh Iyer told PTI. He was responding to a query on whether India can continue to be the company's fas...

Karnataka Higher Education and IT/BT Minister Dr CN Ashwath Narayan on Saturday rolled out three strategic initiatives aimed at promoting start-ups and innovation ecosystem in Beyond Bengaluru clusters.The three programmes launched were Mysuru Cluster Seed Fund (MCSF), Mysuru Global Technology Centre (MGTC) and Karnataka Accelerator Network (KAN).It may be noted here that Chief Minister Basavaraj Bommai while presenting the budget 2023-24 had announced these programmes to boost the IT & startup ecosystem in the state. Put together, it is estimated that MCSF and KAN will generate around Rs 200 crore and these programmes will be implemented through Karnataka Digital Economy Mission (KDEM)Mysuru Cluster with a Seed Fund of Rs 25 crores will be funding 70-80 startups which are expected to create over 1000 employment opportunities."Mysuru Global Technology Centre which will be set up in a space of 2 lakh sqft with 3000 seater capacity facilitates high-quality plug-and-play office ....

BlackRock has denied that it's working on a possible rival bid for Credit Suisse Group AG from Companies https://ift.tt/JTzHQ8C via IFTTT

Owing to their tough workstyle, delivery boys often face a lot of stress, which can affect their mental health from Companies https://ift.tt/HB3D9q6 via IFTTT

Tech giant Google is reportedly working on a new "Video Unblur" tool for its upcoming Pixel 8 smartphone from Companies https://ift.tt/6vK2OWt via IFTTT

IT major Wipro has laid off at least 120 employees in the state of Florida, the US, due to a realignment of business needs from Companies https://ift.tt/Dki8NQ2 via IFTTT

The development has opened an opportunity for HCLTech and IFS to collaborate and accelerate the adoption of IFS' cutting-edge technologies from Companies https://ift.tt/05xeyi7 via IFTTT

Sebi does not want founders to own stock options if they have rights akin to those enjoyed by promoters, the sources with direct knowledge of the matter said from Companies https://ift.tt/xMdjDtQ via IFTTT

Indian startups had deposits worth about $1 billion with embattled Silicon Valley Bank and the country's deputy IT minister said he had suggested that local banks lend more to them going ahead from Companies https://ift.tt/p1aEQut via IFTTT

This store would be a part of Reliance Industries' premium Jio World Drive mall, while the store in Delhi will be a part of the Select Citywalk mall in Saket from Companies https://ift.tt/GpL0bM8 via IFTTT

TCS CEO Gopinathan resigned on March 16 and will be replaced by company veteran K Krithivasan from Companies https://ift.tt/O0Qcp2H via IFTTT

Real estate major DLF has witnessed a record breaking pre-formal launch sales of more than Rs 8,000 crores for its luxury high-rise ;The Arbour' project in just 3 days from Companies https://ift.tt/xRm8ULs via IFTTT

The company opened a facility in Bengaluru, which is its largest office in the world outside of its headquarters in Sweden from Companies https://ift.tt/8IGdTXs via IFTTT

Reversing a decades-long stance, the Bar Council of India this week permitted firms from certain countries to register in India, open offices and advise local clients on international law from Companies https://ift.tt/ZhKfMzr via IFTTT

Realty major DLF Ltd on Thursday said it has sold 1,137 luxury apartments, priced Rs 7 crore and above, in its housing project in Gurugram for over Rs 8,000 crore within 3 days, reflecting a strong demand for premium flats across major cities. In a regulatory filing, DLF informed that it has "witnessed record breaking pre-formal launch sales of Rs 8,000-plus crores for its luxury high-rise residences, The Arbour". DLF will build 1,137 4BHK apartments across five towers (38-39 storeys) in this 25-acre project. The project is located at Golf Course Extension Road, Sector-63 Gurugram. The project has been fully sold out within three days even before its launch, DLF said. Aakash Ohri, Group Executive Director and Chief Business Officer, DLF Ltd, said, "Our latest luxury offering, 'The Arbour' has received a phenomenal response even before it was launched." The interest shown by discerning homebuyers in the country and overseas is clearly an endorsement of the hi...

While Xiaomi remained focused on selling mobile phones under 10,000 rupees ($120), Indian consumers were willing to pay up for better looking models with richer features from Companies https://ift.tt/a7c92sf via IFTTT

US fried-chicken chain Popeyes made its debut in India with the opening of its first restaurant in Bengaluru in January 2022, followed by rapid expansion to 12 restaurants in Bengaluru from Companies https://ift.tt/f3bXuvd via IFTTT

At least three international flights of Air India have been affected in two days due to technical issues, according to sources. The flights from Chicago and Vancouver were cancelled on Tuesday as the aircraft was grounded on account of technical issues. Both flights were to be operated with Boeing 777 aircraft, the sources said. Meanwhile, the sources also said that an aircraft has been grounded in Paris on Wednesday. The plane was to operate the flight from Paris to Delhi. When contacted, an Air India spokesperson said that flight AI 126 had to be cancelled due to technical reasons on March 14. "The affected passengers were offered all-around support and every effort is being made to accommodate them on alternate flights. We sincerely regret the inconvenience caused to our passengers," the spokesperson said in a statement. Details about the number of passengers who were booked in the three flights could not be immediately ascertained. from Companies https://ift.tt/vTN95L0 ...

Almost one and a half months after resigning from the suspended board of debt-ridden Future Retail Ltd, Kishore Biyani has withdrawn his resignation. The Resolution Professional of Future Retail Ltd (FRL), which is currently going through an insolvency resolution process, had raised objections to the contents of Biyani's resignation letter and had requested him to recall it. "Kishor Biyani has now withdrawn his resignation by way of his letter dated 10th March 2023," FRL informed the bourses. Earlier this week, the RP of FRL filed an application before the National Company Law Tribunal (NCLT) against the former and present directors of the company for causing a loss of Rs 14,809.44 crore to creditors. In the application filed before the Mumbai bench of the NCLT, the Resolution Professional (RP) has sought direction from the tribunal against the present and erstwhile directors of FRL "to contribute the amount to the company", Future Retail Ltd (FRL) said in a reg...

Globally, only 50 companies out of 322 have set targets to reduce business travel, with technology company Wipro paving the way in India from Companies https://ift.tt/t8u1gcP via IFTTT

The startup, which focuses on promoting digitizing business transactions, is confident it's on the right side of a growing divide over the use of the technology from Companies https://ift.tt/SmhZ6Bq via IFTTT

Elara holds a 1.6 per cent stake in Adani Enterprises, 3.62 per cent in Adani Transmission and 1.62 per cent in Adani Total from Companies https://ift.tt/tRlHD6W via IFTTT

Drug major Cipla on Tuesday said it has inked a pact with Africa Capitalworks to sell a 51.18 per cent stake in Uganda-based Cipla Quality Chemical Industries Ltd. The company and its wholly-owned subsidiaries, Cipla (EU) Ltd and Mauritius-based Meditab Holdings Ltd, have entered into a share purchase agreement with Africa Capitalworks on March 14, Cipla said in a regulatory filing. Subsequent to the sale, Cipla Quality Chemical Industries (CQCIL) will cease to be a subsidiary of the company, it added. Consideration to be received by Cipla (EU) Ltd and Meditab Holdings Limited shall be in the range of USD 25-30 million, Cipla noted. The proposed sale is expected to be completed by May 31, 2023, it added. Africa Capitalworks is a wholly owned subsidiary of Africa Capitalworks Holdings (ACW), an investment management company incorporated in Mauritius. ACW is engaged in providing permanent equity capital and complementary skills to mid-market companies across Sub-Saharan Africa. from Co...

Hindustan Construction Company Ltd (HCC) in a joint venture with Megha Engineering & Infrastructures Ltd (MEIL) has bagged a Rs 3,681 crore project for construction of a bullet train station, a statement said on Tuesday. The contract was awarded by the National High-Speed Rail Corporation Ltd (NHSRCL) for the construction of the Bandra Kurla Complex Station of the 508.17 km-long Mumbai-Ahmedabad high-speed rail. The Bandra Kurla Complex bullet train station will have six platforms, and each platform is approximately 414 metres, sufficient to accommodate a 16-coach bullet train. The station will have connectivity with the metro and road transport, HCC said in a statement. This station is the only underground station on the Mumbai-Ahmedabad high-speed rail corridor, and it is planned at a depth of about 24 metres below the ground level. The station will have a total of three floors. On Tuesday, shares of the company settled 4.33 per higher at Rs 14.95 apiece on the BSE. from Compan...

Hindustan Petroleum Corporation Ltd (HPCL) has entered into an agreement to manufacture, distribute and market lubricants of global supermajor Chevron in India, the two companies said on Tuesday. "Chevron Brands International LLC (Chevron), a subsidiary of Chevron Corporation, has entered into a long-term trademark licensing agreement with HPCL. This collaboration encompasses the licensing, production, distribution, and marketing of Chevron's lubricant products under the Caltex brand, including Chevron's proprietary Havoline and Delo branded lubricant product," they said in a statement. The agreement provides for "Caltex-branded lubricants to be manufactured, distributed, and marketed in India by HPCL". HPCL already has its own brand of lubricants and this would be in addition to the existing ones. Commenting on the agreement, Brant Fish, President of Chevron International Products, stated, "We are extremely pleased to partner with HPCL to bring quality...

Glenmark Pharmaceuticals on Tuesday said it has received approval from the US health regulator to market a generic antibiotic drug. The company has received final approval from the US Food & Drug Administration (USFDA) for Clindamycin Hydrochloride Capsules, a generic version of Pfizer's Cleocin capsules, Glenmark Pharma said in a statement. Glenmark's Clindamycin Hydrochloride Capsules in strengths of 75 mg, 150 mg, and 300 mg, will be distributed in the US by Glenmark Pharmaceuticals Inc, it added. According to IQVIA sales data for the 12-month period ending January 2023, the Cleocin Hydrochloride Capsules, 75 mg, 150 mg, and 300 mg achieved annual sales of around USD 33.6 million. Glenmark shares were trading 0.12 per cent up at Rs 426.10 apiece on the BSE. from Companies https://ift.tt/Z2YID1N via IFTTT

Tata Motors-owned Jaguar Land Rover on Tuesday said it is partnering with Tata Technologies to accelerate its digital transformation. As part of the collaboration, Tata Technologies will deliver end-to-end integrated Enterprise Resource Planning (ERP) to transform Jaguar Land Rover's manufacturing, logistics, supply chain, finance and purchasing modules by bringing data and knowledge from multiple departments into one single source. The first phase will include Jaguar Land Rover's (JLR) UK core production facilities, with solutions subsequently deployed to other global locations. "The partnership with Tata Technologies will allow us to accelerate the transformation of our core ERP infrastructure to deliver the efficiency and usability we require for the future and our transformation objectives," JLR Executive Director of Industrial Operations Barbara Bergmeier said in a statement. Tata Technologies MD and CEO Warren Harris said the collaboration will help JLR to build...

Mohit Joshi has joined Tech Mahindra as its CEO and MD. Experts have said that the development is consequential given the macroeconomic circumstances from Companies https://ift.tt/8Rm3Qus via IFTTT

Jaiprakash Associates has approached the insolvency appellate tribunal NCLAT against the NCLT order relating to the distribution of Rs 750 crore in the Jaypee Infrastructure matter. The amount was deposited with the Supreme Court registry by Jaiprakash Associates Ltd (JAL), the erstwhile promoter of Jaypee Infratech Ltd (JIL), which is going through insolvency proceedings since August 2017. JAL had challenged the NCLT order over the distribution of money, sources said. As per the NCLAT cause list, the matter between JAL and JIL is scheduled for hearing on Tuesday before a two-member bench of the National Company Law Appellate Tribunal (NCLAT). In an order on March 7, the National Company Law Tribunal (NCLT) approved the Mumbai-based Suraksha group's bid to buy Jaypee Infratech Ltd (JIL), a development that comes as a relief for more than 20,000 homebuyers nearly six years after the debt-ridden company entered into the insolvency process. In its 491-page order, the NCLT had directe ...

Maharashtra facility can produce 1.3 million cars and 1.6 million engines annually from Companies https://ift.tt/VvSaFOn via IFTTT

/ -- NCR-based Industrial and Logistics real estate developer Pragati Group, has raised $200 Million of equity capital from a Private Equity fund based in Singapore. Pragati has been offering customized warehouse development solutions since its inception in 2010 to top MNCs like Amazon India, Flipkart, DHL-Bluedart, Bosch, Daikin, and many more. The Singapore based fund has committed to invest $200 Million with Pragati Group towards development of industrial and logistics real estate assets as per the deal signed in Q3 FY 2022. Part of the deal involved acquisition of 2 international grade operational assets of approx. 2 million sft of GLA in NCR, Pragati One & Pragati Farukhnagar Logistics Parks, providing successful exit to the previous financial partner Morgan Stanley. Part of the deal also saw this fund acquire an equity stake in Pragati. Col. Jitender Yadav, Founder of Pragati Group said, "Pragati's vision is to be one of the top 5 industrial & logistics real esta...

Nokia on Monday announced that it has entered into a partnership with Netplus Broadband, an Internet Service Provider (ISP), to deliver future-proof and world-class broadband services in India from Companies https://ift.tt/1CKb8cy via IFTTT

Chennai-based company says 'vast majority' of its finances not held at failed US lender from Companies https://ift.tt/WaCVKw6 via IFTTT

Leading digital payments and financial services company Paytm on Monday announced its business operating performance for the two months ended February 2023 from Companies https://ift.tt/e0vOJ4U via IFTTT

India is likely to account for more than a fifth of incremental global consumption for chemicals over the next two decades as domestic demand is projected to rise to USD 1,000 billion by 2040, McKinsey said in a report. In the report titled 'India: The next chemicals manufacturing hub', McKinsey said the country's chemical industry has been a global outperformer in demand growth and shareholder wealth creation over the last decade. "It now stands poised to play an increasingly dominant role across both consumption and manufacturing in the global arena," it said. The sector is projected to grow at 11-12 per cent during 2021-27 and 7-10 per cent during 2027-40 -- tripling its global market share by 2040. "India is expected to account for more than 20 per cent of incremental global consumption for chemicals over the next two decades. Domestic consumption and demand is expected to rise from USD 170-180 billion in 2021 to USD 850-1000 billion by 2040," it sai...

State-owned Bank of Maharashtra (BoM) on Sunday announced a reduction in the interest rate on home loans to 8.4 per cent from the existing 8.6 per cent. The new rate is effective from March 13, 2023, BoM said in a statement. The home loan at 8.4 per cent makes it one of the lowest in the banking sector. Besides, it said, the bank has also a special rate of interest (ROI) for defence personnel, including paramilitary forces, benefiting salaried and pensioner categories for home loans. BoM has already waived processing fees for its gold, home and car loans under the festive offer, the lender said. By introducing this offer, it said, BoM is offering the most lucrative ROI with added benefits on its array of products, benefiting customers availing them. Last week, public sector lender Bank of Baroda slashed its home loan interest rates by 40 basis points (bps) to 8.5 per cent. Further, BoB also reduced its MSME loan interest rates starting at 8.4 per cent. Both offers were effectiv from ...

The Indian soft drink market is expected to see "significant growth" as consumption is anticipated to increase steadily, which will deliver sustainable and healthy volume growth across all product categories, said Varun Beverages Ltd (VBL), PepsiCo's largest franchise bottler. This would be driven by factors such as shifting population demographics, the rising spending power of young consumers, accelerated urbanisation, and growing rural consumption. The company is in the process of further expanding its capacities to meet the higher demand expectations, said VBL in its latest annual report. Its distribution model and on-the-ground end-to-end infrastructure facilities continue to be the key growth drivers and VBL remains committed to extending it to newer areas and under-penetrated regions to further boost its market presence," it added. While from an operational standpoint, VBL continues to focus on new product categories and evolving customer preferences. Launch of...

Reversing their selling trend, foreign investors have infused over Rs 13,500 crore in the Indian equities so far this month primarily driven by bulk investment from US-based GQG Partners in the Adani Group companies. This came following a net outflow of Rs 5,294 crore in February and Rs 28,852 crore in January. Prior to that, FPIs made a net investment of Rs 11,119 crore in December, data with the depositories showed. Going ahead, FPIs are likely to be cautious in their approach in the coming days as the collapse of the SVB Bank in the US has impacted sentiments in the market, V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said. According to the data, Foreign Portfolio Investors (FPIs) invested Rs 13,536 crore in Indian equities till March 10. "This (inflow) is inclusive of the bulk investment of Rs 15,446 crore by GQG in the four Adani stocks," Vijayakumar said. Also, Nirav Karkera, Head of Research at Fisdom, said that a large share of the inflow...

Startups are struggling to move their money out of the bank, but with the regulators shutting down operations they will have to wait till Monday from Companies https://ift.tt/uJg0C63 via IFTTT

Business Standard brings you the latest headlines at this hour from Companies https://ift.tt/M38nTif via IFTTT

US-based telehealth startup Cerebral has disclosed that it shared the private health information, including mental health assessments, of more than 3.1 mn patients in country from Companies https://ift.tt/otCPMKh via IFTTT

Digital payments platform PhonePe has achieved an annualised total payment value run rate of USD 1 trillion, or Rs 84 lakh crore, mainly on account of its lead in UPI transactions, the company said on Saturday. The company claims to have digitised over 35 million offline merchants spread across tier 2, 3, 4 cities and beyond, covering 99 per cent pin codes in the country. "We are delighted to reach the USD 1-trillion annualised TPV run rate. We look forward to turbo-charging the next wave of growth for UPI payments in India with offerings like 'UPI lite', 'UPI international' and 'credit on UPI' to enable greater financial inclusion for Indians," PhonePe head of consumer business Sonika Chandra said in a statement. The company said that the growth is backed by its leadership in the UPI space where it holds over 50 per cent market share by value. "The company has also received an in-principle approval for its PA (payment aggregator) licence from the...

The board of directors has approved the appointment for a period of five years with effect from December 20, 2023 to December 19, 2028 (both days inclusive) from Companies https://ift.tt/e7luHo2 via IFTTT

"On March 3, we downgraded our assessment of the Hindenburg-related controversy cases to 'moderate' from 'minor' following new developments in the relevant cases from Companies https://ift.tt/Co4r5N0 via IFTTT

Sebi on Friday revoked the securities market ban imposed on eight former promoter entities of Dewan Housing Finance Ltd (DHFL) in a case pertaining to alleged fraudulent financial transactions. Also, the regulator said the investigation in the matter had been completed and thereafter it initiated quasi-judicial proceedings against Kapil Wadhawan, Dheeraj Wadhawan, Rakesh Kumar Wadhawan and Sarang Wadhawan who were the other four former promoters of DHFL (now known as Piramal Finance). The eight former promoter entities are -- Aruna Wadhawan, Malti Wadhawan, Anu Wadhawan, Pooja Wadhawan, Wadhawan Holdings Pvt Ltd, Wadhawan Consolidated Holdings Pvt Ltd, Wadhawan Retail Venture Pvt Ltd and Wadhawan Global Capital Ltd (formerly known as Wadhawan Housing Pvt Ltd). The entities are collectively referred to as noticees. In its fresh order, Sebi's Whole Time Member Ashwani Bhatia said, "I note that the investigation in the matter has now been completed, and quasi-judicial proceedings...

Ford Motor Co. announced Friday that it will cut around 1,100 jobs at its plant in the eastern Spanish city of Valencia. The cuts are in addition to the 2,300 layoffs largely in Germany and the U.K. that the automaker announced last month as part of a leaner, more competitive cost structure in Europe. Ford Spain said in a statement that it notified unions on Friday of what it said was a profound restructuring of its operations, which comes even as Ford champions the Valencia plant as its preferred site to assemble next-generation electric vehicles on the continent. The plant is Ford's only such facility in Spain and employed 5,400 people. Ford has said its strategy to offer an all-electric fleet in Europe by 2035 has not changed and that production of its first European-built electric car is due to start later this year. The cuts were mainly due to the already announced discontinuing production of the S-Max and Galaxy models in April 2023, Ford Spain said in an email. In January, ...

PhonePe has a formidable market presence in the Indian digital payments space. The app leverages the Unified Payments Interface (UPI) like its other peers from Companies https://ift.tt/3kBzc19 via IFTTT

Apple and its supplier Foxconn were among the companies that lobbied for a landmark liberalisation of labour laws in the southern state of Karnataka earlier this month, the Financial Times reported from Companies https://ift.tt/Rq1F4Z8 via IFTTT

The duration of the agreement is for 12 months and is extendable from Companies https://ift.tt/hsmVzut via IFTTT

Danfoss India, subsidiary of Denmark-based Danfoss, has drawn up plans to increase manpower and develop more 'Made in India' products to serve the local market, a top official has said. Danfoss India, on Thursday, completed 25 years of its operations in the country and 90 years globally. In 2022, Danfoss India registered double-digit growths in all three segments -- Danfoss Power Solutions, Danfoss Power Electronics and Drives, along with Danfoss Climate Solutions. The Indian subsidiary was also growing at the highest rate among all the Danfoss groups at the global level and Danfoss India is seen as a priority market with high growth potential. "I am delighted to celebrate Danfoss' 25th anniversary in India which also coincides with our 90th anniversary worldwide. The many milestones we have achieved together with our partners and customers is a testimony of Danfoss' contribution to India's growth story,'' Danfoss A/S president and chief executive offic...

But shares of two more group firms reported to be pledged from Companies https://ift.tt/CJ3bFBj via IFTTT

The Middle Eastern sovereign wealth fund is finalizing an agreement to buy a mix of existing Lenskart shares and new equity, the people said from Companies https://ift.tt/ZoOKHgr via IFTTT

The accusations against Adani - some reported by local media years before Hindenburg dropped its report - come at an uncomfortable time for Mauritius from Companies https://ift.tt/05AFEQ2 via IFTTT

John David Rainey, CFO Walmart, said during an investor conference that Walmart-owned Flipkart and PhonePe have exciting opportunities and have large portions of market share in India from Companies https://ift.tt/53TWBns via IFTTT

Oil marketing PSU Indian Oil Corporation (IOC) is keen to develop its existing refinery in West Bengal Haldia into a petrochemicals complex for sustaining operations profitably, a company official said on Wednesday. Running a standalone refinery is not sustainable in terms of profitability for which it has to be supplemented by a petrochemicals complex, he said. "We want to set up a petrochemicals complex contiguous to the Haldia refinery whose current capacity is 8.5 million tonnes per annum (mtpa)", the company official said. IOC has sought land from Haldia Fertiliser Corporation (HFC), whose factory is lying defunct, for developing the petrochemicals complex, he said. "We have sought 175 acres of land from HFC. It is near the refinery and it has been given on lease by Haldia Dock Complex (HDC) to the ministry of chemicals and fertilisers ministry. We are seeking the land for the petrochemicals project", the IOC official said. Drawing an analogy, the official said...

Global banks had lent Adani $4.5 billion to finance the purchase of Holcim Ltd. cement assets last year, and a portion of this was due March 9 from Companies https://ift.tt/5NhRGsA via IFTTT

Digital transformation and product development services firm, Orion Innovation has committed to increase the women employee base in the country by 15 per cent, the company said on Wednesday. Orion reported a 25 per cent growth in the India headcount currently at 2,500. The company further aims to increase the headcount to over 5,000 by 2025. "We are excited to announce our commitment to increasing the headcount of women employees in India. We believe that a diverse and inclusive workplace is critical to the success of any organisation." Orion Innovation HR Head India, Arun Paul said in a statement here. "Our goal is to attract and retain the best talent in the industry and we believe that creating a work environment that supports and empowers women professionals is crucial to achieving this goal," he said. With this commitment, Orion Innovation aims to not only increase India headcount but also create a more diverse and inclusive workplace, he said. Last month Orion...

Air India on Wednesday said 15 per cent of its 1,825 pilots are women pilots, making it an airline with the largest number of female pilots. To mark International Women's Day, the Tata Group-owned Air India, along with Air India Express and AirAsia India, has scheduled more than 90 all-women crew flights, and the carriers have been operating these all-women crew flights on international and domestic routes since March 1, according to a release. "Of the 90+ flights operated by all-women cockpit and cabin crew, Air India is flying 40 flights across domestic and international locations, whereas AI Express is operating 10 all-international flights to the Gulf route and AirAsia India is operating over 40 flights within India," it said. According to the carrier, women constitute over 40 per cent of Air India's workforce, with 275 of its 1,825 pilots being women, representing 15 per cent of the cockpit crew strength and making it an airline having one of the largest numbers ...

Company expects demand from Indian Railways, infrastructure, and defence sectors from Companies https://ift.tt/ARz8t2w via IFTTT

Adani Group: The repayment of the loan will release the pledge on shares of promoters in four Adani Group companies, Adani Enterprises, Adani Ports, Adani Green Energy and Adani Transmission from Companies https://ift.tt/x8sT907 via IFTTT

Suraksha Realty had made the winning bid of Rs 7,736 crore as against government-owned NBCC India's Rs 6,536 crore offer in June 2021 from Companies https://ift.tt/djpRyb3 via IFTTT

According to leading startup covering portal Entrackr, citing sources, a lack of VC funding has caused layoffs in the startup ecosystem, affecting especially late-stage organisations from Companies https://ift.tt/SK1Lmvj via IFTTT

Digital financial services firm One97 Communications that owns Paytm brand on Monday announced it has signed an agreement with the Andhra Pradesh government to drive initiatives in financial inclusion, public health, cyber security. The Memorandum of Understanding was inked on the sidelines of the Andhra Pradesh Global Investors Summit 2023. "The agreement aims to promote mutual cooperation in the areas of industrial development, financial inclusion, public health, cyber security and prevention of financial frauds in the state of Andhra Pradesh," according to a company release. Under the pact, Paytm plans to empower merchants, street vendors and street hawkers in Andhra Pradesh to accept digital payments and provide them access to loans through its lending partners. "Paytm plans to extend its platform to the government of Andhra Pradesh for providing eGovernment services, which will be conveniently accessible to all Paytm Super App users. Additionally, Paytm plans to emp...