Page 1017 - Company News

JSW Renew Energy commissions 51 MW wind energy capacity in Tamil Nadu

The project has a power purchase agreement with Solar Energy Corporation of India for 25 years. The firm has set a target to reach 20 GW capacity and 40 GWh of energy storage capacity by 2030

SCOPE launches $45 mn venture capital fund for fintech, gaming sectors

Both sectors, it noted, have witnessed unprecedented growth, driven by technological advancements, changing consumer behaviours, and an increasing demand for innovative solutions

Hikal shareholders vote against continuation of Baba Kalyani as director

The development comes at a time when Kalyani, the Chairman and Managing Director of Bharat Forge, is locked in a legal battle with his sister Sugandha Hiremath for the ownership of Hikal

SBI buys Rs 200 cr worth non-convertible debentures of Muthoot Fincorp

Shaji Varghese, CEO of the company said the proceeds from the NCD issue will be utilised for onward lending, business operations and further expansion and growth plan

Sessions court overturns summons to Huawei executives in tax evasion case

The tax department has alleged tax evasion and inflated payments for technical services by Huawei India outside the country

Samsung Electronics delays production at new US chip plant to 2025: Report

Revisions to TSMC's and Samsung's plans would mean their new plants, worth tens of billions of dollars, may only come online after the US presidential election next year

Preparing for resumption of Red Sea voyages post-attacks from Yemen: Maersk

Shipping firm Maersk says it is preparing to allow vessels to resume sailing thanks to the start of a US-led multinational naval operation to protect shipping from attacks by Houthi rebels in Yemen

Byju's in talks with investors to raise $300 mn in return for more controls

Shareholders call for board rejig so that they can have a bigger say in ops

IFSCA may allow Indian listed firms to launch QIP, tax sops for listing

Suggests tax sops for direct listing

Analysts divided, but Delhivery's stock underperformance may reverse

Delhivery provides solutions to 23,113 customers, including e-commerce marketplaces, direct-to-consumer e-tailers, and enterprises across verticals

China to provide consular assistance to Vivo employees arrested in India

India's financial crime-fighting agency last week arrested two senior employees of Vivo's India unit, a move the company vowed to challenge legally

Paytm looks to rationalise employee costs by revising hiring strategy

The company, said to be exploring different ways to save on employee costs, has laid off a few employees for 'poor performance'

Adani Green signs PPA for 8,000 Mw solar power with Solar Energy Corp

With this, Adani Green now has tied up PPAs of 19.8 gigawatt (Gw). The balance in its 20.6 Gw locked-in portfolio is merchant capacity, the company said

SoftBank sells shares worth $310 mn in omnichannel retailer FirstCry

"SoftBank recently sold shares worth Rs 630 crore in FirstCry. It was picked up by a few high net worth individuals," a source said. Notably, FirstCry is likely to file a draft paper for IPO this week

Significant rise in gap between standalone, consolidated net profit of RIL

Reliance reported a standalone net profit of Rs 30,902 crore in 2019-20 fiscal year, which grew to Rs 44,205 crore in 2022-23 fiscal

Adani Green Energy completes power purchase project of 8,000 MW for SECI

Adani Green signed the final PPA with the company to supply 1,799 megawatts of solar power for 25 years

Amid legal tensions, Israeli chipmaker Tower resubmits semicon proposal

Tower Semiconductors' fresh proposal to open a semiconductor fabrication unit for 65 nm and 40 nm chips in India is facing legal challenge from former Partner Next Orbit Ventures

NINL was home to snakes, scorpions when acquired by Tata Steel: MD Mehta

The company was in debt, Mehta said, adding NINL is now doing financially good and has generated a revenue of around Rs 3,000 crore in the April-September or first half of the ongoing fiscal

Paytm hands over 1,000 pink slips; staff from lending business affected

The decision to dismiss these employees comes weeks after the fintech company announced it would reduce the disbursement of small-ticket-size loans as RBI tightened norms

Disney, Reliance sign pre-deal agreement, mega-merger to be done by Feb

The 51:49 stock-and-cash consolidation in favour of RIL is expected to wrap up by February. Disney and Reliance are also likely to inject cash as capital investment