Page 1034 - Company News

DGV raises $6 million in funding round led by Omidyar Network India

Startup will use money to improve technology and expand business in states

SBI to acquire another 20% stake in SBI Pension Funds for Rs 229.52 crore

At present, SBI has a 60 per cent stake in the pension fund

FedEx Express sets up tech hub in Hyderabad, invests $100 mn in facility

In addition to boosting employment opportunities, it will also contribute to the development of new capabilities and meeting the technological requirements of FedEx operations worldwide, it said

Lord's Mark Industries set to go public in 2024, aims to raise Rs 500 cr

IDBI Capital and Mirae Asset have been appointed as the merchant bankers for the listing

Tata Motors launches Intra V70, Intra V20 Gold, and Ace HT+ trucks in India

Tata Motors, said that these vehicles have been developed based on specific inputs and demand from a large segment of actual users

ICICI Prudential Life Insurance set to incorporate Bima Sugam entity

The Bima Trinity comprises Bima Vistaar, Bima Vahak, and Bima Sugam

Staff at Trafigura tried to hide nickel 'red flags', messages show

On one occasion, a Trafigura employee instructed one of Gupta's executives to "please maintain a minimum of credibility" regarding the journey times for cargoes of nickel

Two new multi-billion-dollar petrochemical plants to weigh on markets

While producers remain bullish longer term, largely off the back of economic growth in India and China, the splurge in new capacity is weighing on markets near term

Ambuja Cements completes acquisition of Sanghi Industries at Rs 5,185 crore

As part of the deal's completion, Ambuja Cements also executed a trade (in on and off-market trade) to acquire 54.51 per cent of the voting share capital from the promoters of Sanghi Industries

Gupta asks court to lift freezing order in Trafigura nickel fraud case

Trafigura filed a lawsuit against Gupta in February, alleging seven trading companies that Trafigura said are controlled by him carried out "systematic fraud" over nickel cargoes

Arka Fincap aims to raise Rs 300 crore via non-convertible debentures

Due to surging unsecured loans like personal loans and those on credit cards, the RBI increased the risk weighting for such loans from 100 per cent to 125 per cent

Wipro Consumer acquires 3 soap brands from VVF for an undisclosed amount

"These brands together recorded a revenue of over Rs 210 crore during FY23"

Adani Group completes acquisition of Sanghi Industries, revises offer price

"In terms of the company's obligations under Sebi, the offer price as defined in the PA shall stand revised to Rs 121.90," Ambuja Cements said in a regulatory filing

Air India moves its IT infrastructure to Cloud, shuts down two data centres

Tata Group-owned airline said that the move is expected to help Air India save $1 million annually

Adani Green Ltd seals its biggest ever project financing of $1.36 billion

The green loan facility will help enable the development of AGEL, the world's largest renewable energy park, at Khavda in Gujarat

Foxconn cancels first shift at Indian iPhone facility after extreme weather

Foxconn's operations in the facility near the south Indian city of Chennai were likely to resume after the first shift, the sources said

BSNL planning to allocate more employees towards enterprise business

The decision to increase human resources in the enterprise business comes at a time when BSNL has registered a dip in revenue in the segment in the last two quarters

US govt examined Hindenburg allegations before giving $553 mn loan to Adani

Allegations in a scathing report by US-based Hindenburg Research, which erased around $100 billion from the Adani Group's market value earlier this year

Air India targets 5x members for frequent-flyer plan in four years

In August, Air India Chief Executive Officer (CEO) and Managing Director (MD) Campbell Wilson announced that a thoroughly revamped loyalty programme is set to launch early next year

Byju's founder Raveendran pledges homes to raise funds for staff salaries

Two homes owned by Raveendran's family in Bengaluru, in southern India, and his under-construction villa in Epsilon, a plush gated community in the city, were offered as collateral to borrow $12 mn