BUSINESS DUNIYA

Brookfield Asset Management said in March it will invest A$20 billion and A$30 billion over the next ten years in Australia along with it partners in renewable energy projects from Companies https://ift.tt/27UNtjd via IFTTT

Foxconn Technology Group, plans to increase its investments to more than $1.2 bn in southern India's Karnataka state and add two component factories there from Companies https://ift.tt/QHiBxhJ via IFTTT

The chipmaking device supplier will consider opening an applications laboratory, which performs test cuts and other experimental processing at customer's request, in India, the report said from Companies https://ift.tt/6qsVjxY via IFTTT

At the end of June, the AUM of LIC MF and IDBI MF stood at Rs. 18,400 crore and Rs. 3,650 crore, respectively from Companies https://ift.tt/7w6E3ua via IFTTT

The watchdog determined that Google's search dominance "distorts platform competition" in favor of large market players from Companies https://ift.tt/QcJE8A0 via IFTTT

According to Executive Director Rakesh Sharma, the proposed plant is likely to come up in Manaus Special Economic Zone in northern Brazil and commence production in the next 12 months from Companies https://ift.tt/Q2w30Go via IFTTT

The subsidiary, Foxconn Industrial Internet (FII), plans to invest Rs 1,600 crore ($194.45 million) to build a campus in Kancheepuram district from Companies https://ift.tt/ZNYOfQz via IFTTT

The airline had stopped flying on April 17, 2019, and its AOC expired over two months ago on May 19 this year from Companies https://ift.tt/uTRF6or via IFTTT

Realty firm Macrotech Developers invested Rs 1,000 crore during the April-June period on the construction of various projects and will pump in Rs 3,500 crore more by March next year as part of its strategy to ramp up execution capabilities. Macrotech Developers, which sells its properties under the Lodha brand, has a major presence in Mumbai Metropolitan Region (MMR) and Pune. It has entered into Bengaluru market as well. In an interview with PTI, Macrotech Developers MD and CEO Abhishek Lodha expressed satisfaction over the operational performance of the company during the first quarter of this fiscal and was confident of achieving the targeted 20 per cent growth in sales bookings to Rs 14,500 crore. He said the housing demand has been very strong for the last two years on pent up demand post the COVID pandemic and people's aspiration to own better and bigger homes from branded developers. To encash this demand, Macrotech Developers plans to launch 22 new projects by March next ye...

Steel pipes maker JTL Industries Ltd's consolidated net profit has more than doubled to Rs 25.37 crore during June quarter, on account of higher revenues. It had clocked a net profit of Rs 12.08 crore during the April-June period of the preceding 2022-23 fiscal, the company said in a regulatory filing on Saturday. The company's revenues from operations also rose by 37 per cent to Rs 504.80 crore, from Rs 368.03 crore in the year-ago quarter. Expenses were at Rs 471.66 crore, as against Rs 354.46 crore. JTL Industries Ltd (formerly known as JTL Infra Ltd) is the largest producer of electric resistance welded (ERW) steel pipes in India, with a capacity to produce more than 6 lakh metric tons per annum. The company also exports its products to various offshore markets. from Companies https://ift.tt/4ynOVoT via IFTTT

Stainless steel maker Jindal Stainless Ltd (JSL) has sought the government's intervention to check increasing imports of steel products from a select group of countries including China. Select few countries including China are flooding the domestic market with their products, Jindal Stainless Ltd (JSL) Managing Director Abhyuday Jindal said. "We urge the government to take some steps to check these imports. The government can put anti-dumping duty (ADD) and countervailing duty (CVD) on the import of the items," he said. According to official data, the Share of China, Japan, Vietnam, Saudi Arabia, Russia, Nepal and the USA increased in total steel imports of India in June 2023 as compared to June 2022. India's steel imports rose 7.6 per cent to 4.84 lakh metric tonne during June 2023, over the same month last year. In June 2022, the import from China was 26.1 per cent and Vietnam was 1 per cent. However, in June 2023, the import from China contributed 37.1 per cent and...

Five years after it exited the company, the government is set to get a significant stake in Hindustan Petroleum Corporation Ltd (HPCL) as it looks to infuse equity in fuel retailers that lost money on selling petrol and diesel at discounted rates last year, officials said. The government had in the annual Budget for 2023-24 (April 2023 to March 2024 fiscal) announced Rs 30,000 crore of capital support to state-run fuel retailers -- Indian Oil Corporation (IOC), HPCL and Bharat Petroleum Corporation Ltd (BPCL) -- to support their energy transition and net-zero initiatives. In June, the government asked IOC and BPCL to launch rights issues (to get the capital), and advised HPCL to make a preferential share allotment to the government. Board of IOC earlier this month approved raising up to Rs 22,000 crore by inviting existing shareholders to purchase additional new shares in the company (this type of issue gives existing shareholders securities called rights). BPCL board too has appro f...

Tyre maker CEAT Ltd has lined up a capex of around Rs 750 crore for the ongoing fiscal, mostly to be deployed in increasing production capacity of agri-radial tyres at its Ambernath plant in Maharashtra, according to the company MD & CEO Arnab Banerjee. The company expects volume of its supplies to original equipment manufacturers (OEMs) to pick up in the third and fourth quarter of this fiscal, as it completes transition from smaller rim size to bigger sizes, with approvals from automobile manufacturers expected soon. In the replacement market, where CEAT has seen good growth in the first quarter specially in motorcycle tyres, the company expects the momentum to continue although in the rural market which has been dormant for sometime it may take another two more quarters for growth visibility to come. "We have been talking about Rs 700 crore to Rs 750 crore for the year. Out of which around Rs 220 crore we have done in quarter one," Banerjee told PTI. He was responding ...

Sun Pharma is looking at high single-digit growth in its consolidated topline this fiscal on the back of robust performance from all its business verticals, according to company's Managing Director Dilip Shanghvi. The Mumbai-based company had reported a consolidated revenue of Rs 43,278 crore in 2022-23. "All our businesses are well-positioned, and we expect high-single-digit consolidated topline growth for FY24," Shanghvi informed shareholders through company's Annual Report for 2022-23. He noted that the global pharmaceutical industry remains quite dynamic, and always buzzing with new avenues for capital deployment. Pursuing any one of these options can place considerable pressure on the balance sheet, he added. "Success is not guaranteed, and it is important for us that we remain thoughtful and selective in deciding which options to pursue. However, we will not shy away from making disproportionate investments to grow our businesses, should an opportunity pres...

Micron last month announced plans to build a semiconductor assembly, testing, marking, and packaging (ATMP) plant in Gujarat from Companies https://ift.tt/0r4xUfL via IFTTT

Independent fact-checking organisation Boom Live has launched a "first of its kind" fact-checking and media literacy program targeting teenagers in India. Working with MediaWise, the digital media literacy initiative of the Poynter Institute, Boom Live has selected 13 teenagers from over 100 applications to participate in the programme. The final 13 teen fact-checkers will pitch, write and record ten fact-checks covering technology, health and nutrition, education, and finance in English and other Indian languages, which will then be published on Boom's YouTube, Instagram and Linkedin handles. H R Venkatesh, director, training and research, Boom Live said that the network will "address the misinformation challenges that Indian teens face". One, it involves young people who will no doubt influence their peers to pause, think and do some digging before believing whatever they see and hear. Two, they're learning and teaching not just fact-checking but also medi...

The hospitality revenue came in at Rs 280 crore, up 23 per cent YoY from Companies https://ift.tt/pHTzMxX via IFTTT

Power Grid Corporation's board has approved a proposal to raise up to Rs 5,700 crore through issuance of bonds on private placement basis in multiple tranches in 2023-24. The fund raised will be used to part finance its capex requirement, for providing inter corporate loans to wholly-owned subsidiaries/JVs and for general corporate purposes. This will be done by securitization of cashflows of 4 operational SPVs (special purpose vehicles) viz. POWERGRID Bhuj Transmission, POWERGRID Khetri Transmission System, POWERGRID Medinipur Jeerat Transmission System and POWERGRID Varanasi Transmission System up to March, 2034. The company is raising Rs 500 core in the first tranche with a green shoe option of (additional) Rs 1,400 crore. from Companies https://ift.tt/WRPBUF4 via IFTTT

Nearly 78.5 per cent of the public institutional investors voted against the deal from Companies https://ift.tt/cRPDGnB via IFTTT

It is not the first time that PM Modi has met the Micron CEO. Earlier in June, when PM Modi visited the US, the two had an excellent meeting from Companies https://ift.tt/nH7VSk5 via IFTTT

Piramal Enterprises will buy back its equity shares valued upto Rs 1,750 crore for effective utilisation of capital and creating long term value for stakeholders from Companies https://ift.tt/t1qJgD9 via IFTTT

Brookfield India Real Estate Trust has opened its issue to raise up to Rs 3,500 crore by selling units to institutional investors on private placement basis to fund acquisition of two assets in Gurugram and Mumbai. In a regulatory filing, Brookprop Management Services Pvt Ltd, which is manager to Brookfield India REIT, informed that the issue committee of its board of directors approved the opening of the issue on July 27 for receiving bids. The panel approved and adopted the preliminary placement document and the application form in connection with the issue. It also approved the floor price of Rs 265.79 per unit, the filing added. The filing did not mention the number of units offered for sale. Last month, the unitholders had approved raising of funds through an institutional placement of units not exceeding Rs 3,500 crore in one or more tranches. The committee took note of the letter from BSREP II India Office Holdings II Pte Ltd (a member of the sponsor Group) expressing their fr...

Quarterly tower additions stood at their highest levels ever at 5048 from Companies https://ift.tt/xWbJcm6 via IFTTT

The process to change the livery of AirAsia India's 27 aircraft to match Air India Express' aircraft is under progress, according to media reports from Companies https://ift.tt/nN1BEOC via IFTTT

On a quarter-on-quarter basis, the revenue for operations was down 3.56%. It was Rs 4,830.53 crore in Q4FY23 from Companies https://ift.tt/ZC0sIni via IFTTT

Together Fund was founded by Girish Mathrubootham, (co-founder, Freshworks), Manav Garg, (founder, Eka Software) and Shubham Gupta, who used to lead SaaS deals at Matrix Partners India from Companies https://ift.tt/Heb1hp7 via IFTTT

Brand Cheng, CEO of Foxconn Industrial Internet (FII), and other company representatives last week met Tamil Nadu officials including its chief minister to discuss investments in the state from Companies https://ift.tt/i3VZG2p via IFTTT

The rise in provisions and contingencies, that for standard loans and NPAs, was 10.8% YoY to Rs 9,596 crore in Q1Fy24 from Companies https://ift.tt/m6d8bf3 via IFTTT

Cigarette maker Godfrey Phillips India Ltd on Wednesday reported an increase of 68.61 per cent in its consolidated net profit to Rs 220.97 crore for the first quarter ended on June 2023. The company had posted a net profit of Rs 131.05 crore during the April-June quarter of the previous fiscal, Godfrey Phillips India said in a regulatory filing. Its revenue from operations was up 26.84 per cent to Rs 1,245.39 crore during the quarter under review as against Rs 981.83 crore in the corresponding period of the previous fiscal. Godfrey Phillips' total expenses were at Rs 1,036.06 crore, up 25.5 per cent in the first quarter of FY 2023-24. Its total income in the June quarter was Rs 1,298.08 crore, up 31.9 per cent. Its revenue from cigarettes, tobacco and related products was Rs 1,128.90 crore, up 28.7 per cent during the April-June period. While revenue from retail and related products was Rs 112.95 crore, up 8.08 per cent, as against Rs 104.50 crore in the first quarter of last fis ...

Company will have to follow Sebi's January 2021 directions within six months from Companies https://ift.tt/uzcjYhb via IFTTT

This is the first time investors have externally flagged financial and corporate irregularities at the edtech firm from Companies https://ift.tt/zytHGRs via IFTTT

Microsoft on Tuesday reported fiscal fourth-quarter profit of $20.1 billion, or $2.69 per share, beating analyst expectations for $2.55 per share. It posted revenue of $56.2 billion in the April-June period, up 8 per cent from last year. Analysts had been looking for revenue of $55.49 billion, according to FactSet Research. CEO Satya Nadella said the company remains focused on leading the new AI platform shift. Organizations are asking not only how but how fast they can apply this next generation of AI to address the biggest opportunities and challenges they face safely and responsibly, he said in a prepared statement. Microsoft was an early mover in this year's hype around generative AI tools that can help people write documents and create new images and other media. It capitalized on its multibillion dollar investments in ChatGPT-maker OpenAI to launch a chatbot for Microsoft's Bing search engine and similar tools tailored to its business customers. Macquarie analyst Sarah .....

Without easy access to global capital, companies are now facing greater scrutiny over corporate governance, jeopardizing India's quest to pull even with the US and China as a tech capital of the world from Companies https://ift.tt/iCpjsum via IFTTT

Air India passengers can choose these upgrades to premium cabins between 72 hours and 12 hours before a scheduled flight, subject to the availability of seats in the cabin from Companies https://ift.tt/FApJfCK via IFTTT

Poonawalla Fincorp on Monday reported a 62 per cent rise in net profit to Rs 200 crore in the June quarter. The Pune-based NBFC firm -- a financial services arm of the Poonawalla Group which is popular as the world's largest Covid vaccine maker under the flagship Serum Institute of India -- had posted a net profit of Rs 124 crore in the year-ago period. Total income in the first quarter of the current fiscal rose to Rs 712 crore from Rs 429 crore in the same period a year ago, Poonawalla Fincorp said in a regulatory filing. Interest income of the company improved to Rs 656 crore from Rs 386 crore in the 2022 June quarter. Total expenses of the NBFC increased to Rs 445 crore as against Rs 295 crore in the year-ago period. The company's asset quality showed improvement as gross non-performing assets declined to 1.42 per cent of gross advances at the end of the June quarter from 2.68 per cent a year ago. Similarly, net non-performing assets or bad loans, declined to 0.76 per cent ...

Birlasoft on Monday said it is establishing a Generative Artificial Intelligence (GenAI) Centre of Excellence (CoE) with Microsoft for solutions across manufacturing, life sciences, energy and BFSI. The Gen AI-CoE will leverage Microsoft Azure's OpenAI Service for research, training, and collaboration, to build 50 use cases and digitally transform the above sectors, the company said in a statement. "Birlasoft already has more than 35 enterprise use cases ready for Generative AI adoption," a company spokesperson told PTI. The spokesperson added that Birlasoft will select 500 of its consultants across locations based on their profiles for upskilling them in Gen AI operations in the initial phase of this training. The trainings will be conducted in a hybrid mode by Microsoft specialists, Birlasoft domain experts and people from the industry, using online and recorded training sessions and in-person trainings, the spokesperson informed. Roop Singh, CEO Americas, Birlasoft sai...

Gross NPAs for Q1FY24 stood at Rs 5103.68 crore, as compared to Rs 6982.02 crore in the corresponding period of the previous year from Companies https://ift.tt/IVmaBrw via IFTTT

The Esop liquidation exercise was part of Swiggy's announcement in 2021, where the company had said that its employees would be rewarded for their performance in 2022 and 2023 from Companies https://ift.tt/AIfekxy via IFTTT

The AS9100D Aerospace Certification is the benchmark for ensuring exceptional quality in aviation, space and defence manufacturing and supply chain processes from Companies https://ift.tt/K2ZSmwH via IFTTT

As remote working and flexible work arrangements take precedence over salary for a large number of jobseekers, experts see this as an opportunity to attract and retain talent. According to a survey titled 'The Job Search Process: A Look from the Inside Out', two thirds of respondents prioritise hybrid or remote working engagements. Also, 71 per cent of these respondents feel the freedom to work from home, setting flexible hours and taking breaks as needed were important factors in their job search. The survey based on responses collected from 1,810 individuals, including 561 employers and 1,249 jobseekers, was carried out by jobsite Indeed India. While 63 per cent of the jobseeker respondents registered their preference for hybrid working or a mix between working from home and office, 51 per cent of companies also reflected offering such flexibility in their operations. Annanya Sarthak, co-founder and CEO of Awign -- a job search application for gig workers -- said: "Today...

The audio and wearables market in India is growing at a good pace, driving incremental revenue and production ramp-up plans for boAt, and the company's international blueprint will be set in motion only from FY25 onwards, its co-founder Aman Gupta has said. The overseas plans are currently in the making, but for now, the company is determined to cement its position in the smartwatches segment, its biggest focus this year. "For this year, our focus is not international...we are putting (building) blocks so that by next year, we should start looking at international...This year, we are trying to test the waters with some markets," Gupta told PTI. Overall, boAt is targeting gross sales of about Rs 5,000 crore in FY24. "The market is growing at a very good pace. In audio, we are the market leaders, while in wearables, we are competing with different players and competition keeps changing. The smartwatch market is growing at a high, good pace, and that is our biggest focu...

Billionaire Gautam Adani-led group's copper-producing factory at Mundra in Gujarat will start operations from March next year, helping cut India's dependence on imports and aiding energy transition, sources said. Copper is known as the "metal of electrification" as deeper electrification requires wires, which are primarily made from copper. Technologies critical to the energy transition like electric vehicles (EVs), charging infrastructure, solar photovoltaics (PV), wind and batteries, all require copper. Kutch Copper Ltd (KCL), a subsidiary of the group's flagship Adani Enterprises Ltd (AEL), is setting up a greenfield copper refinery project for the production of refined copper with 1 million tonnes per annum in two phases. For Phase-1, capacity of 0.5 million tonnes per annum, KCL has achieved financial closure through a syndicated club loan, sources with direct knowledge of the matter said. The first phase is expected to become operational by the end of the cu...

Luxury carmaker Lexus from next year is looking to foray into the used car business in India, having now completed six years in the market, according to a top company official. The Japanese carmaker, which currently sells its product range through 23 touch points, aims to transition some of the sales outlets to also cater to the pre-owned car vertical. Known for its self-charging hybrid cars, Lexus is now gearing up to roll out its first electric model in the country by 2025. In an interaction with PTI, Lexus India President Naveen Soni said the automaker is now seriously considering the introduction of a structured pre-owned car programme. He noted that the company will initiate the programme in select outlets after taking into account the business viability of the dealer partner. "So I think very soon, by the third quarter or maybe next year beginning, I should say," he stated when asked about the timeframe the company was looking to get into the used car segment. Soni stat...

Automaker Kia India expects its sales to grow by 8-10 per cent this year as compared with 2022 on the back of improved chip supplies and introduction of the updated Seltos in the market, according to a senior company official. The South Korean carmaker, which sells models like Carens, Sonet and Seltos in the Indian market, sold a total of 3.4 lakh units in the domestic and export markets last year. "So last year our domestic sales were about 2.54 lakh units while exports stood at around 80,000 units. So we did about 3.34 lakh units overall. So this year we are looking at about 8-10 per cent growth," Kia India National Head (Sales and Marketing) Hardeep S Brar told PTI in an interaction. He noted that the company has outpaced the overall passenger industry growth in the first half of the year and expects to do the same in the second half as well. "For the first six months industry has grown at 10 per cent. We have grown at 12 per cent. So like every other year we have out...

German luxury carmaker BMW will locally produce its electric vehicles in India, and it is just a matter of time as the company's vehicles continue to gain traction in the market, according to a senior company official. BMW, which saw 9 per cent of its sales in India coming from EVs in the first half of 2023, expects to reach up to 25 per cent by 2025. "As the volumes grow, as we have done with every other product, we will localise them (EVS), and we will produce them (locally)," BMW Group India President Vikram Pawah told PTI in an interview. The localisation of EVs in India has two aspects, "one is the volume here, and the other one is the technology", he noted. "It is just a matter of time. There has to be some inertia of the volumes and stability. We're seeing good signs now. It's still early days...We have delivered only 500 cars across four models in the first six months, that is still small from that perspective, but it is clearly growing fast...

YES Bank's provisions and contingencies, net of recoveries made against loan accounts written off as bad, more than doubled to Rs 360 crore from Rs 175 crore a year earlier from Companies https://ift.tt/wB5YpLP via IFTTT

Fintech firm One97 Communications, which operates under the Paytm brand, expects to generate free cash flow by the end of this year, a top company official said on Saturday. Paytm founder and CEO Vijay Shekhar Sharma, in an earnings call, said that growth for the company in the June 2023 quarter came on account of expansion in payments, financial services and commerce business. "We are on our committed guidelines of becoming free cash flow positive by the year-end," Sharma said. Paytm has reported a narrowing of loss to Rs 358.4 crore in the first quarter ended June 30, 2023. The company had posted a loss of Rs 645.4 crore in the same period a year ago. Its revenue from operations increased by 39.4 per cent to Rs 2,341.6 crore during the reported quarter from Rs 1,679.6 crore in the June 2022 quarter. The company said its merchant payments volume (GMV) grew 37 per cent year-on-year to Rs 4.05 lakh crore in the April-June quarter of FY 2023-24. Sharing an update on the RBI...

The National Company Law Tribunal has approved a Rs 1,814 crore resolution plan for the private hill station Lavasa, nearly five years after the initiation of the insolvency resolution process. Darwin Platform Infrastructure Ltd (DPIL) has emerged as the winning bidder for Lavasa Corporation Ltd, which is primarily into the business of the development of the private hill station by the same name in Pune. In a 25-page order passed on Friday, the tribunal cleared the resolution plan at an investment of Rs 1,814 crore. The amount includes a "resolution plan amount of Rs 1,466.50 crore to be paid/ discharged from funds infused over multiple tranches into the corporate debtor by way of cash funding and instruments, being equity, Project inflows, loans, advances or a combination thereof," the order said. The corporate debtor is Lavasa. A monitoring committee comprising the insolvency professional (earlier resolution professional), one representative each from financial creditors an...

Go Airlines, which operated the Go First carrier, filed for bankruptcy protection in May blaming "faulty" Pratt & Whitney engines for the grounding of about half its 54 Airbus A320neos from Companies https://ift.tt/l7dqNey via IFTTT

The consumers claim the unlawful collusion was concealed by an arrangement between the companies to keep the terms of their agreements from being publicly disclosed from Companies https://ift.tt/cruemO5 via IFTTT

The company said the latest funding will enable it to deploy robotics technology in industrial environments and warehouses, and enter the US, South East Asia, Japan, and European markets from Companies https://ift.tt/VI2paih via IFTTT

Fintech firm One97 Communications, which operates under the Paytm brand, on Friday reported the narrowing of loss to Rs 358.4 crore in the April-June quarter of this fiscal. The company had posted a loss of Rs 645.4 crore in the same period a year ago. The revenue from operations of the company increased by 39.4 per cent to Rs 2,341.6 crore during the reported quarter from Rs 1,679.6 crore in June 2022 quarter. from Companies https://ift.tt/rP4iV2D via IFTTT

With this package, L&T will execute 92% of the main line between Shilphata in Maharashtra and Ahmedabad in Gujarat from Companies https://ift.tt/HIOo9S8 via IFTTT

The decision has been taken due to weak smartphone market conditions and changes in the company's internal strategy from Companies https://ift.tt/JTanY5q via IFTTT

With JC Flowers ARC's 24.19% stake in the company, Chandra's total holding in the satellite TV operator will rise to 28.2%, if the transaction goes forth from Companies https://ift.tt/WRHYg3M via IFTTT

The National High Speed Rail Corporation Ltd (NHSRCL) on Thursday said it has awarded contract for the Mumbai-Ahmedabad Bullet train project's 'last civil package' of a 135-kilometre section. The Bullet train corridor is divided into 28 contract packages, of which 11 are 'civil packages'. The works in the 135 km section between Shilphata in Thane district and Zaroli village on the Maharashtra-Gujarat border included seven tunnels and the longest bridge of 2 km over the Vaitarna river in Maharashtra besides the construction of Thane, Virar and Boisar stations, the corporation said in a statement. NHSRCL has already awarded contracts for the construction of Mumbai (BKC) station and 21 km of tunnels including a 7 km undersea tunnel works in Maharashtra. With this last tender, all civil contracts for the Mumbai -Ahmedabad High Speed Rail corridor have been awarded, the release said. "This also marks the award of all the 11 civil packages of 508 km long MAHSR corrid...

According to a source, an immediate announcement on Tamil Nadu investments by the company is unlikely from Companies https://ift.tt/LrIAvQ8 via IFTTT

Mahindra & Mahindra on Thursday said a US court has allowed its subsidiary to keep producing and selling the post-2020 version of its off-road vehicle Roxor in the American market. The Eastern District Court of Michigan on July 19, 2023, issued its opinion and order on Fiat Chrysler Automobile's (FCA's) renewed motion to enjoin the Post-2020 Roxor and based on its analysis declined to apply the safe distance rule to this case as sought by FCA, Mahindra & Mahindra said in a regulatory filing. Accordingly, FCA's motion to enjoin the post-2020 ROXOR was denied, it added. "With this ruling, Mahindra Automotive North America, a subsidiary of the company, continues to have no restraints on its ability to produce, sell and distribute the post-2020 Roxor in the US," the Mumbai-based auto major stated. Roxor was launched on March 2, 2018, to be sold in the US and Canada. Soon after, FCA lodged a complaint with the US International Trade Commission (ITC), alleging t...

Additionally, borrowers can avail themselves of a reward program for timely repayments, the company said from Companies https://ift.tt/5t10jc7 via IFTTT

Shree Cement has set target of reaching 80 million tonnes capacity by 2030. This would be achieved through brownfield and greenfield expansion from Companies https://ift.tt/F3CZ7XJ via IFTTT

Bhujialalji Pvt Ltd (BPL) is a new entrant to this industry with its product portfolio comprising popular bhujia and namkeen variants from Companies https://ift.tt/H17MIk4 via IFTTT

Google Play's billing system is required for developers that sell in-app services and digital goods on the Google Play Store from Companies https://ift.tt/QARak8P via IFTTT

The company intends to build the facility faster than any project in its execution history, Gautam Adani said from Companies https://ift.tt/ZTgiPUI via IFTTT

Jurors in state court in state court in Oakland concluded Tuesday that J&J's baby powder helped cause Anthony Hernandez Valadez's mesothelioma, a specific type of cancer linked to asbestos exposure from Companies https://ift.tt/mEctpa8 via IFTTT

ADNOC raised about $2.5 billion in March through a sale of roughly 5% of its gas business in an IPO from Companies https://ift.tt/cgCQeoN via IFTTT

Tata has chosen a site in Somerset, west England, owned by Salamanca Group, an investment and advisory business with roots in real estate, people familiar with the plans said from Companies https://ift.tt/IJAq5KX via IFTTT

State Bank of India (SBI) will set up a trustee company, which will be its wholly-owned subsidiary, for managing the Corporate Debt Market Development Fund (CDMDF). SBI Funds Management Ltd has been identified as the investment manager cum sponsor of the fund. In a regulatory filing on Tuesday, SBI said it has approved setting up the trustee company as a wholly-owned subsidiary of the bank for managing the fund. The proposal is also subject to regulatory approvals, the filing said. SBI has a 62.53 per cent stake in SBI Funds Management Ltd. The setting up of the CDMDF was announced by markets regulator Sebi earlier this year. The fund will act as a backstop facility for purchase of investment grade corporate debt securities to instil confidence amongst the participants in the corporate bond market during times of stress. It will also help enhance secondary market liquidity by creating a permanent institutional framework for activation in times of market stress. In times of marke from...

Shares of Reliance Industries touched their 52-week high level in intra-day trade on Tuesday and ended in the positive territory, taking its market valuation to more than Rs 19 lakh crore. The bellwether stock ended at Rs 2,822.40 apiece, up 0.93 per cent on the BSE. During the day, it climbed 1.48 per cent to hit its 52-week high of Rs 2,838. On the NSE, it rose 0.84 per cent to settle at Rs 2,820.45. The scrip reached its 52-week peak of Rs 2,837.45, registering a gain of 1.45 per cent during the day. The company's market valuation jumped from Rs 17,456.07 crore to Rs 19,09,526.60 crore. On July 10, shares of the company hit their 52-week high of Rs 2,755 on the BSE. On Tuesday, the 30-share BSE Sensex climbed 205.21 points or 0.31 per cent to settle at its new all-time closing high of 66,795.14 points. The NSE Nifty gained 37.80 points or 0.19 per cent to end at its all-time closing high of 19,749.25 points. from Companies https://ift.tt/0pJ9mGC via IFTTT

Startups have an obligation to take the Indian flag to other countries, founder and CEO of Paytm Vijay Shekhar Sharma said on Tuesday. "Right now we have reached the stage in the startup ecosystem where the mature companies should start to think that which countries we can export to, if we could export for our IT services," Sharma said at an event by the PHD Chamber of Commerce and Industry. Sharing his optimism about the rising global presence of Indian startups, Sharma said that he aspires for an anti-trust regulation by America and other nations on an Indian company. "I really wish in my lifetime that America is thinking of sanctioning us...multiple countries, and then you go for negotiations - don't do it!," he said. He also spoke on value creation for startups, the divide between traditional industries and startups and the next phase of generative technology and AI. Announcing that AI-first offerings will be in the forefront of operations, Sharma termed AI ...

Executives at the highest levels are scrutinising ties with Adani, turning more cautious about adding new business pending a regulatory probe that's supposed to end next month from Companies https://ift.tt/Saudl7W via IFTTT

The floor price for the deal was kept at Rs. 1,000 per share but the allotment to non-retail investors was done at a share price of Rs. 1,103.80. from Companies https://ift.tt/bvy8euU via IFTTT

Around 1.26 lakh youth trained in telecom technologies will be employed in the current fiscal, a top official of the Telecom Sector Skill Council said on Monday. The Telecom Sector Skill Council (TSSC) also announced setting up a new Centre of Excellence for Skill Development Training in collaboration with Finnish telecom gear maker Nokia at Kaushalya - The Skill University campus in Ahmedabad. "TSSC will train 1.26 lakh youth in this financial year and they will be employed by the industry," TSSC CEO Arvind Bali said on the sidelines of the launching event of the new centre with Nokia. The CoE (Centre of Excellence) at ITI Kubernagar is setting up a Skill Lab for training candidates in 5G technology skills with the aim of providing placement offers within 4-6 weeks of course completion to at least 70 per cent of learners. About 300 such candidates will benefit from the programme in the first year of the project. "This is an important initiative supporting the Hon'bl...

Vistara CEO Vinod Kannan on Monday said the airline will submit its response to the Competition Commission's queries on the proposed merger with Air India by the end of this month and expressed confidence of receiving all regulatory approvals by early next year. The Competition Commission of India (CCI) has sought more details on the merger of Vistara with Air India, a deal that was announced in November last year. "There are certain questions that have been asked. We are going to give our response to the CCI by the end of this month. Then, the CCI will decide whether it needs to go to phase two or needs further clarification," Kannan said here. As per CCI norms, in case there are anti-competitive concerns, it can go for a detailed scrutiny which is generally called phase two of the approval process. Kannan said Vistara is expecting to have all regulatory approvals in place by early next fiscal. "The merger with Air India is on track". The airline has applied fo...

The two vehicles, FAT 4X4 and GTV 6X6 have special capabilities that will be used by the artillery to carry light and medium guns, respectively from Companies https://ift.tt/DyI4Xap via IFTTT

After the transaction, Proximus Opal will make an open offer to acquire another 1.64 crore shares or 26 per cent stake in Route Mobile from Companies https://ift.tt/SbuyWK7 via IFTTT

The company, whose backers include SoftBank Group Corp. and Tiger Global Management, has become leader in India's electric-scooter market with a 38% share from Companies https://ift.tt/NUikYZt via IFTTT

The Tata Group, in June, also signed a deal with the Gujarat state government for setting-up a lithium-ion cell factory with an investment of about Rs 13,000 crore from Companies https://ift.tt/pgyuDsS via IFTTT

Hailing India's remarkable progress in building unicorns and startups, Union Minister Rajeev Chandrasekhar prophesised that the next 4-5 years will witness substantial growth for such enterprises and the startups in the country will increase by 10 times. Speaking at the JITO Incubation Innovation Foundation (JIIF) Sixth Foundation Day and Investors/Startup Conclave in Hyderabad, the Union Minister of State for Skill Development and Entrepreneurship and Electronics and IT, highlighted India's remarkable progress in creating unicorns and startups, how they have successfully entered areas in emerging technologies such as AI, Web3, and deep tech, an official release said on Sunday. The Minister, who engaged with industry leaders and aspiring young entrepreneurs, emphasised the transformative journey India has embarked upon since 2014. From being predominantly focussed on IT and ITes, the next 4-5 years will witness substantial growth for startups and unicorns, Chandrasekhar said du...

Smart wearable device maker Boult Audio expects 100 per cent growth in revenue to Rs 1,000 crore this fiscal on the back of expansion in sales channels and growth in the smartwatches category, a top company official said. Boult Audio Founder and CEO Varun Gupta told PTI that its overall audio category business grew by over 30 per cent but the smartwatch category is growing in triple digits. "We are expecting 100 per cent growth. We are planning to get offline and go further, deeper into online marketplaces. We are scaling up our D2C platform which means retailing on our own website. Smartwatch is a category which is exploding and growing at a triple-digit number. That gives us an impetus and push to launch our brands in this category," Gupta said. The company's business grew about 66 per cent in 2022-23 to around Rs 500 crore and it expects revenue to grow to Rs 1,000 crore with a four-fold jump in sales of smartwatches. Gupta said that in 2021-22, its entire revenue came...

Kotak's current term as MD & CEO in Kotak Mahindra Bank ends on 31 December 2023 from Companies https://ift.tt/Q6DZlKY via IFTTT

The High Court of Karnataka has restrained the chairman of TD Power System Ltd (TDPSL) and several others from transferring shares worth Rs 555 crore of the company. The court passed the interim order on a petition by Vijay Ravindra Kirloskar, the chairman of city-based Kirloskar Electric Company (KEC) who founded TDPSL in 1999. Kirloskar along with the several KEC Welfare Trusts had moved the high court seeking a direction to several persons who hold 2.51 crore shares worth Rs 555 crore in the company, not to transfer or sell them in the stock market. Kirloskar and the Trusts had approached a commercial court in Bengaluru seeking an injunction against the chairman of TDPSL and a family friend of Kirloskar, Mohib Nomanbhai Khericha, Kirloskar's nephew Nikhil Kumar and others from alienating Rs 2.51 crore shares of TDPSL held by them. The Commercial Court had refused to give a temporary injunction following which Kirloskar and the Trusts petitioned the HC. A single judge bench of . ...

Oil and Natural Gas Corporation (ONGC) will have a new director to spearhead its new energy, petrochemicals and corporate strategy, as part of a board revamp aimed at breathing fresh life into the state-controlled behemoth. A new director for strategy and corporate affairs has been created, according to an office order from the company. This will be besides a newly consolidated production division following a board-level reorganisation. ONGC aims to draw synergies from the merger of its onshore and offshore divisions in creating a director for production, which is headed by Pankaj Kumar. The post of Director (Production) has been created after merging Director (Onshore), who is in charge of all oil and gas fields located on land, and Director (Offshore) who looks after all offshore assets such as the prime Mumbai High fields. Kumar previously served as ONGC's offshore director. In addition to the post of director production and director strategy and corporate affairs, the other k ...

More than 140 countries were supposed to start implementing next year a 2021 deal overhauling decades-old rules on how governments tax multinationals from Companies https://ift.tt/ADcJU1o via IFTTT

JSW Steel and Teck Resources did not immediately respond to requests by Reuters for comment from Companies https://ift.tt/RYwFq3c via IFTTT

At present, white-label ATMs represent 15 per cent of all ATMs in India from Companies https://ift.tt/HqAMdNg via IFTTT

Following the OFS, the company will become compliant with the 25 per cent minimum public shareholding norms from Companies https://ift.tt/Eedr2oh via IFTTT

Walmart-backed Flipkart on Friday began mega cash payout to staff, estimated to be worth USD 700 million, following its separation from fintech firm PhonePe. The board of directors of Flipkart had announced the complete separation from the PhonePe business by selling off its entire shareholding in December 2022. Accordingly, the board decided to pay USD 43.67 as compensation for each ESOP (vested options for eligible current and former stakeholders and unvested options only for eligible current stakeholders) as of the record date of December 23, 2022. "Further to the communication made on April 21, 2023, regarding this payout, I am delighted to inform you that the much-awaited compensation will be made today, July 14, 2023," Flipkart CEO Kalyan Krishnamurthy said in an internal e-mail, seen by PTI. In response to an e-mail query by PTI, the company confirmed that the payout following the separation of PhonePe (announced in December 2022) has been made to employees. Meanwhile,...

Kia India on Thursday said it has crossed the 10 lakh production milestone since making its debut in the market in 2019. The company rolled out the new Seltos from its Anantapur-based plant to mark the occasion. Kia also announced that pre-bookings of the model would commence in the country on July 14. "This is a big moment for us, our employees, and our partners who have lived and supported our journey and helped us in making Kia an integral part of Indian consumer's lives today," Kia India Managing Director and CEO Tae-Jin Park said in a statement. The new Seltos marks the beginning of an exhilarating chapter in the country as the automaker continues to drive towards automotive excellence in the Indian market, he added. Kia made its entry into the Indian market with the launch of Seltos in August 2019. from Companies https://ift.tt/sp1e3Tm via IFTTT

Jubilant FoodWorks, which operates the Domino's Pizza brand in India, plans to invest Rs 750 crore towards capital expenditure this fiscal to be spent for opening around 220 outlets and others. Sameer Khetarpal, MD and CEO of Jubilant FoodWorks, said the pizza-chain plans to open 30 to 35 Popeyes restaurants in the current financial year to take the store count to 50. Currently, the number is 18. In a year we are investing about Rs 200 to Rs 250 crore in building new factories and we are investing about Rs 500 crore in stores. Roughly Rs 700 crore to Rs 750 per annum on capital expenditure. This year we plan to open 200 to 220 Domino's and 32 to 35 Popeyes, he told PTI. Jubilant FoodWorks holds the exclusive master franchise rights from Domino's Pizza Inc. to develop and operate the Domino's Pizza brand in India, Sri Lanka, Bangladesh, and Nepal. However, the operations in Nepal are yet to start. Currently, the company runs a network of over 1800 Domino's restaurant...

National Company Law Tribunal had ordered an insolvency resolution process against Future Enterprises in March from Companies https://ift.tt/O1Rx69P via IFTTT

Property Share, which runs a platform for fractional ownership of real estate, has facilitated investors in acquisition of 5.33 lakh square feet of rented office space in Bengaluru for Rs 370 crore. Property Share, in a statement, said that it has "facilitated the acquisition of Phase I of Prestige Tech Platina, a 5,33,000 square feet Grade A asset in Bengaluru for Rs 370 crore." The minimum investment size was Rs 25 lakh for investors. More than 500 investors participated for acquisition of this asset under fractional ownership model. Established in 2016, Property Share is a technology driven real estate investment platform that allows ordinary users access to institutional grade assets with 8-10 per cent in-place rental yields and 17-20 per cent returns. The office space has been leased to a prominent US-based technology company. Property Share said the deal was closed at a rental yield of 10 per cent (including 1 per cent enhanced yield) with a 7-year lock-in period. This ...

Medical giant HCA Healthcare, which operates 180 hospitals in the U.S. and Britain, says the personal data of about 11 million patients in 20 states may have been stolen in a data breach. Samples of the data, including addresses, phone numbers, emails and birth dates, were posted to an online forum popular with cybercrooks by a hacker trying to sell them. The Nashville, Tennessee-based provider said the stolen data was not believed to include Social Security numbers, payment information or clinical info such as diagnoses. However, the data did include information on scheduled appointments and medical departments involved. A file dumped online by the hacker on Monday following what appeared to be a failed attempt to extort HCA includes nearly 1 million records from the company's San Antonio division. If 11 million patients are affected, the breach would rank in the top five as reported by health care institutions to the Department of Health and Human Services Office of Civil Rights....

This is a first such scheme from Kotak MF from Companies https://ift.tt/p7zx3JK via IFTTT

Future Lifestyle Fashions Ltd (FLFL) has said that claims worth Rs 3,477.28 crore from as many as 17 financial creditors have been admitted in the ongoing Corporate Insolvency Resolution Process (CIRP). Catalyst Trusteeship Ltd has emerged as the lead financial creditor with Rs 600.40 crore, having a 17.4 per cent voting share in the Committee of Creditors (CoC), formed for the debt-ridden Future Group firm. This is followed by the State Bank of India and Centbank Financial Services Limited (Debenture Trustee) with a loan amount of Rs 476.59 crore and Rs 444.76 crore respectively. State Bank of India has a voting share of 13.86 per cent and Centbank Financial has a voting share of 12.93 per cent in the CoC, FLFL said in a regulatory filing. Besides, Centbank Financial Services (Debenture Trustee) also has a loan of Rs 38.50 crore. Moreover, FLFL has received claims of Rs 803.48 crore from the operational creditors, which are "under verification" now by the resolution professi...

Godrej Aerospace will be pitching to manufacture modules of the engine, a company official told Reuters during a plant visit from Companies https://ift.tt/CnAqNu9 via IFTTT

IRB Infrastructure Developers Ltd (IRB) on Monday said its revenue from toll collection grew by 18 per cent to Rs 1,183 crore in the first quarter of this financial year. Toll collection stood at Rs 1,000 crore in April-June quarter of preceding 2022-23, IRB said in a statement. "IRB and its private InvIT, namely IRB Infrastructure Trust, have registered a toll revenue growth of 16 per cent in the month of June 2023. Toll revenue growth for Q1FY24 for both entities was 18 per cent over the toll revenue in corresponding quarter of FY23," it said. In June 2023, the company recorded Rs 383-crore toll revenue, higher from Rs 329 crore in June 2022. Amitabh Murarka, Deputy Chief Executive Officer of IRB Infrastructure Developers Limited said, "First quarter of FY24 looks much positive as an upward trend seen in aggregate toll revenue as compared to corresponding quarter of last fiscal. We expect similar momentum for the rest of FY24." IRB has a track record of constructi...

Market regulator has debarred Punit Goenka and Subhash Chandra from taking up key managerial positions in listed companies from Companies https://ift.tt/msEepkV via IFTTT

Maruti Suzuki has been pushing for sales in the premium segment via its Nexa outlets as it looks to secure improved profitability, better margins and high-income customers from Companies https://ift.tt/5NXbZHB via IFTTT

The absence of the leadership from HDFC is likely to make the integration process smoother and faster as the leadership from the HDFC bank will drive the process from Companies https://ift.tt/S2kKWhz via IFTTT

Billionaire Gautam Adani has raised USD 1.38 billion (Rs 11,330 crore) through stake sale in three group companies, taking the total capital raised over four years to USD 9 billion as the conglomerate draws interest from a cross-section of investors. In a statement, the ports-to-energy conglomerate said it "is committed to raising capital to fulfill its 10-year roadmap of the transformative capital management program, which was formulated in 2016 to execute the plans for various portfolio companies." "In the most recent instance, Adani family has raised USD 1.38 billion (Rs 11,330 crore) through stake sale in the three portfolio companies - Adani Enterprises Ltd, Adani Green Energy Ltd and Adani Transmission Ltd," it said. "This ensures higher capital availability at the group level, for growth as well as near-term commitments of both debt and equity for the portfolio companies over the next 12-18 months." In addition, the three portfolio companies have al...

Comments come in the backdrop of the recent resignation of Deloitte Haskins as statutory auditor of edtech company Byju's from Companies https://ift.tt/HloZbng via IFTTT

Tata Group firm Titan plans to open 18 new international stores of its jewellery brand Tanishq, primarily in the Gulf region, taking the total count to 25 by the end of this fiscal. Despite the operational complexities of opening stores in unfamiliar territories, the company plans to "aggressively expand" in FY24 across GCC (Gulf Cooperation Council) region and the US market, given the evident consumer demand for Tanishq brand jewellery, said the latest annual report from Titan Company Ltd. "The company aspires to further strengthen its international presence to 25 international stores by the end of FY 2023-24, with growth primarily being driven by additions in the GCC region," said Titan. Tanishq, which increased the number of international Tanishq stores from 2 to 7 in FY23, has received a 'positive response' in global markets and now plans to expand its presence further, it added. "Tanishq aims to become the preferred jeweller in the NRI/ PIO markets...

State-owned Bank of India is exploring the possibility of share sale to investors over the next one year to meet the minimum public holding requirement of 25 per cent. Currently, Government of India holds 81.41 per cent stake in the Mumbai-based bank. "We are exploring options to meet Sebi's minimum public holding requirement. However, the decision to sell shares would depend on market conditions," Bank of India Managing Director Rajneesh Karnatak told PTI. Public sector banks have time till August 2024 for meeting the Securities and Exchange Board of India (Sebi) requirement, he said. Post share-sale, depending on the quantum, the holding of Government of India would come down below 75 per cent. With regard to the bank's growth, he said, credit growth is expected to be 11-12 per cent during current financial year helped by retail, MSME and agriculture loans. As far as the deposit is concerned, he said, "we hope to grow the liability side by 10 per cent during cu...

The lender will have to take a massive 97 per cent haircut on their claims worth Rs 19,400 crore that were admitted against the bankrupt company from Companies https://ift.tt/LHWwmNJ via IFTTT

RailTel Corporation of India on Saturday received a work order of Rs 39.37 crores from National Informatics Centre Services Inc (NICSI) from Companies https://ift.tt/Tvbu8UM via IFTTT

A day after the Supreme Court refused to give more time to SpiceJet in connection with interest payment related to an arbitral award, an airline official on Saturday said it is confident of resolving through talks the issues with Kalanidhi Maran and his Kal Airways. On Friday, the Supreme Court declined to extend the time for making payment to media baron Kalanithi Maran and his Kal Airways in pursuance of an arbitral award of Rs 578 crore related to a share-transfer dispute. The case and the final order are still pending before the Delhi High Court, the official said, adding that Rs 380 crore is only the deposit amount. The official also claimed that the airline is engaged in talks with Kalanithi Maran and KAL Airways for a full and final settlement of the interest amount. The airline is confident of resolving this to the satisfaction of both sides, as done successfully with many of its partners, through talks, the official said. Earlier in the case, the Delhi High Court, on June fr...

Sula Vineyards Ltd, the country's largest wine producer, has recorded a strong double-digit sales growth in the June quarter. Its estimated net revenues year-on-year were up 17 per cent in the April-June period, said a sales update by Sula Vineyards. Sales from its own brands were at Rs 103.5 crore, up 24 per cent, while its portfolio of imported "elite and premium brands" had a 30 per cent growth. "The company has recorded its highest ever Q1 net revenues overall as well as for own brands and the wine tourism business," it said. Its revenue estimates from wine tourism were at Rs 11.4 crore, up 11 per cent. This sales updates will be followed by financial statements for Q1 FY24 once approved by its board, said Sula Vineyards. Commenting on this, Sula CEO Rajeev Samant said: "Our focus on premiumisation continues to pay off with our elite and premium wines leading the pack in terms of growth." Sula Vineyards' wine tourism revenues also grew in doubl...

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

The larger-than-usual seed funding round underscores the growing interest in generative AI, after OpenAI's ChatGPT dazzled users with its ability to engage in human-like conversations from Companies https://ift.tt/Pi2rh4G via IFTTT

Suzlon Energy Ltd on Friday said its board has approved a proposal to raise up to Rs 2,000 crore. The company will explore various financial routes to raise the amount, a BSE filing showed. The board approved "issuance of such number of fully paid-up equity shares and/or convertible bonds and / or non-convertible debt instruments and / or any other instruments and / or combination of instruments with or without detachable warrants with a right exercisable by the warrant holders to convert or subscribe to the equity shares or otherwise...in one or more tranches, denominated...for an aggregate consideration not exceeding Rs 2,000 crore," Suzlon Energy said in the exchange filing. The company will seek shareholders' approval through a postal ballot, it said. from Companies https://ift.tt/uyfcsPE via IFTTT

Venkat Krishnan, who was heading partnerships, has been promoted to head the government business unit from Companies https://ift.tt/Co8aeQi via IFTTT

Shares held by such shareholders will stand cancelled and extinguished from Companies https://ift.tt/1WNZw9s via IFTTT

Eyes 90% stake for about Rs 2,000 cr from Companies https://ift.tt/ZwH0rOt via IFTTT

The order of July 5 said that the NCLT does not have the power of judicial review over administrative action from Companies https://ift.tt/B7Nmh0v via IFTTT

Akasa Air on Thursday said it has one of the lowest attrition rates in the industry and expects to have around 3,500 employees by the end of this year, amid reports that scores of cabin crew have put in their papers. Currently, the carrier, which started flying in August last year, operates more than 900 flights every week. It also plans to start international operations by the end of 2023. "At Akasa, we have one of the lowest attrition rates and the fastest-growing network in the industry. Today, we have 3,000 employees and expect to grow to approximately 3,500 employees in 2023," it said in the statement. The airline, which currently has 19 planes, expects to have a total of 72 aircraft by March 2027. Last month, the airline announced it will acquire four more Boeing 737 Max planes and said it was looking at a three-digit aircraft order by the end of this year. "The speculation on cabin crew resignations at Akasa is factually incorrect and baseless as is the statement ...

Qatar Airways on Wednesday reported USD 1.2 billion in profits over the past year, buoyed by its role in ferrying fans to the soccer World Cup. The long-haul airline increased its revenue to USD 21 billion, a 45 per cent increase over the previous year, it said. Its yearly passenger load reached 31.7 million, a 71 per cent increase. The airline said it transported 1.4 million passengers to the FIFA World Cup in Qatar. It also expanded its network to more than 160 destinations. Qatar Airways operates out of a gleaming new airport in Qatar's capital, Doha, and competes with long-haul carriers Emirates and Ettihad, which operate out of the nearby United Arab Emirates. Qatar Airways made it through the pandemic's hardest months with a USD 3 billion lifeline from the Qatari government. Its main competitor, Dubai's flagship Emirates Airline, also received a multibillion-dollar payment by the Dubai government during the pandemic. The two airlines serve as economic mainstays for th...

Of the two big changes expected this year, one has just occurred and created a juggernaut bigger than Morgan Stanley from Companies https://ift.tt/1FlCaJY via IFTTT

The deal comprises a primary issue of Rs 400 crore and provides a partial exit to early investors from Companies https://ift.tt/92d0nRH via IFTTT

Fintech firm BharatPe Group has appointed former Razorpay senior executive Pankaj Goel as the chief technology officer. Prior to joining BharatPe, Pankaj was the head of payments engineering at Razorpay. He will report to BharatPe chief financial officer and interim CEO Nalin Negi, the company said in a statement on Wednesday. "With a seasoned engineering leader like Pankaj joining the team, we are confident that we will be able to build best-in-class fintech products that will further enable the next level of growth for the BharatPe Group of Companies," Negi said. Goel has held senior positions at various companies, including Intuit, Trilogy, and Sun Microsystems. from Companies https://ift.tt/wjgViUx via IFTTT

LTI's inclusion in the Nifty50 index will result in inflows of Rs 1,450 crore ($177 million) from passive trackers, as per a note by IIFL Alternative Research from Companies https://ift.tt/Ev5LTFn via IFTTT

The company, which raised Rs 4,330 crore ($528 million) in India's second-largest new share sale this year, has seen its shares jump 57% in almost two months, drawing a rush of buy calls from analysts from Companies https://ift.tt/jcdIGNR via IFTTT

HDFC's all-stock merger into HDFC Bank Ltd., which created one of the most valuable banks in the world, has about 18 advisers who got credit for a fee pool of just over $1 million from Companies https://ift.tt/cmdjMt2 via IFTTT

Biocon Biologics, a subsidiary of Biocon, on Monday said its biosimilar to treat certain inflammatory diseases is now available in the US market. The company said HULIO (adalimumab) injection, a biosimilar to Humira (adalimumab), is now available to patients in the US after five years of experience in Europe and two years in Canada. "The launch of HULIO, our biosimilar adalimumab, in the US, is an important milestone for Biocon Biologics as it expands our well-known biosimilar product offering to patients in the US," Biocon Biologics CEO and MD Shreehas Tambe said in a statement. This launch builds on the company's strong presence in oncology and diabetes, he added. from Companies https://ift.tt/374fYLb via IFTTT

The share exchange ratio will result in a premium of about 20 per cent on the closing market price of the shares of IDFC vis-a-vis IDFC First Bank as of June 30, 2023 from Companies https://ift.tt/mYanE8N via IFTTT

Torrent Power on Monday said it is working on a pilot project for blending green hydrogen with natural gas in the city gas distribution (CGD) network. The pilot project underway in Gorakhpur, Uttar Pradesh, is expected to complete in 8 months, the company said in a statement. "Torrent Power is implementing a green hydrogen pilot project for blending in the CGD network. The pilot project based on alkaline electrolyser will blend 2.5 per cent green hydrogen (GH2) into CGD network, marking an important milestone in the company's foray into GH2 business in India," it said. GH2 is produced using electrolysis of water powered by renewable sources. Its blending with the existing natural gas supply allows for a gradual transition towards a cleaner and more sustainable energy mix. Torrent Power is one of the largest companies in the country's power sector, with a presence across the entire power value chain -- generation, transmission and distribution. from Companies https:/...

The appellate tribunal also told both parties to pay their dues to the Interim Resolution Professional from Companies https://ift.tt/wKenXuS via IFTTT

Signs deal to acquire 50% stake in Jayem Auto from Companies https://ift.tt/yu4XRfw via IFTTT

One new 5G tower going live every minute, 270,000 5G radios installed, says minister from Companies https://ift.tt/GQH9YSt via IFTTT

With a borrowing of $100 million in March, the total borrowing in 2023-24 (FY24) so far has reached $275 million from Companies https://ift.tt/U6yahkP via IFTTT

German luxury car manufacturer Audi on Monday reported a 97 per cent jump in retail sales in India at 3,474 units in the first half of 2023, as compared to the same period last year. The company had sold 1,765 units in the January to June period in 2022, Audi India said in a statement. "Our performance in the first half of the year, despite supply challenges and rising input costs has laid the foundation for a successful second half of the year," Audi India Head Balbir Singh Dhillon said. He further said, "our volume models Audi Q3, Audi Q3 Sportback, Audi Q5, Audi A4 and Audi A6 are seeing strong demand. Our top-of-the-line cars Audi Q7, Audi Q8, Audi A8 L, Audi S5 Sportback, Audi RS5 Sportback, Audi RS Q8 and Audi RS e-tron GT are also growing in healthy numbers." The company said its pre-owned car business 'Audi Approved: plus' grew by 53 per cent in the first six months of 2023 and will continue to expand it further in the country. "Currently operat...

Three-wheeler sales were also up by 59% and reached 6,377 units in June 2023 from 4,008 units in June 2022 from Companies https://ift.tt/lcys4GC via IFTTT