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JC Flowers, Eight Capital to launch fund to invest in distressed assets

The JCF Fund will be set up as an umbrella variable capital company (VCC) in Singapore to aggregate contributions of international investors for investment in distressed companies in India

Dhanlaxmi Bank Board approves appointment of Shivan as MD and CEO

Earlier, RBI had asked the lender's board to get shareholders' approval before appointing Shivan as the next MD and CEO

Sundaram Home Finance Q3 net up 36% to Rs 56 cr, disbursements fall

Company optimistic about growth going forward, sees demand push from stamp duty reduction by states, softer prices by builders

Peepul Capital-owned Medall Diagnostics plans to go for an IPO in 4 years

Medall's revenue, approximately Rs 400 crore at present, is estimated to increase to Rs 1,000 crore in three to four years

Hyundai makes a 'Smartivity' move to take on rivals in SUV market

The car-maker grew market share marginally, thanks to an early focus on 'smart mobility' but it's in the competitive and fast-growing SUV market that this strategy will be truly tested

South Indian Bank books Q3 loss at Rs 92 cr over Covid-related slippages

CEO sees quarterly loss mainly on account of stress in the economy due to the coronavirus pandemic.

Groupe PSA announces Citroen's first phygital showroom in Ahmedabad

European auto major Groupe PSA, which is going to kick-start its journey with the premium SUV, said it is working on a new platform and India will be the first market to have products from it

Rainipettai station back in action with freight movement after 25-year gap

The first rake of 21 BCN wagons transported 1,300 tonnes of fertilisers for Coromandel International, from Ranipettai to Tadepalligudem and Dwarapudi in Andhra

Srinivasaraghavan to retire in March after 18 years as Sundaram Finance MD

He has been with the company for the past 38 years, will be succeeded by Rajiv Lochan

Shriram Automall to foray into Rs 50,000 cr forward auction industry

After going through extensive tests for nearly three years, SAMIL has become the first private company in India to have its auction portal certified by the prestigious STQC directorate

Public hearing on Adani's revised master plan for Kattupalli port deferred

The company applied for environmental nod for a Rs 4,000 cr port and harbour project that is part of a Rs 53,400 cr master plan

Fairfax-backed CSB Bank's PAT rises 89% to Rs 53 cr in Dec quarter

Total deposits grew by 16% YoY and the CASA ratio stood at 30.4% as on December31, 2020 as against 28.6% as on December 31, 2019. Advances (net) grew 22% YoY on the back of a 61% growth in gold loans

Entrepreneurs-by-chance who set up a thriving marketplace for gig workers

Gigindia, started by engineering students Sahil Sharma and Aditya Shirole, provides remote working opportunities to 5,000 people and plans to ramp this to 100,000 by 2025

Apple supplier Pegatron Corporation leases 500,000 sq ft in Tamil Nadu

Pegatron will be the second contract manufacturer to assemble Apple iPhones in Tamil Nadu, after Foxconn

ED files charge sheet against former AIADMK Minister in Gutkha scam case

Case also registered under PMLA against unknown officials of State and Central Government, Public servants and others

Kerala plans to set up dedicated VC fund, open govt market for startups

Fund to be set up with backing of public sector banks and Kerala State Industrial Development Corporation

Tamil Nadu proposes to set up bulk drug, medical devices parks near Chennai

The bulk drug park is will be located in Tiruvallur district in an artea of 2,000 acres. The proposed cost for developing this project is Rs 2,153 crore

Lack of semiconductor to hit vehicle output at Ford's Chennai, Sanand units

Shortage has affected entire auto sector, may continue for at least first half of 2021, says company; During April-December period of current fiscal, Ford's production was down 56% YoY

Cholamandalam Investment MD Arun Alagappan quits, to step down on Feb 14

Will assume larger responsibilities within the Group, say Sources

Apollo Hospitals opens QIP with floor price of Rs 2,508.58 a share

Sources said that the hospital chain is targeting large Domestic Mutual Funds, Sovereign Funds