Page 1039 - Company News
Air India ordered to pay Rs 2 lakh to passengers for multiple flight delays
The NCDRC said in its order that in the event of flight cancellations or major delays, passengers are entitled to necessary services
 "Air India ordered to pay Rs 2 lakh to passengers for multiple flight delays")
Apple supplier in India working on setting up worker dormitories: Report
Foxconn's AirPods facility at Kongara Kalan near Hyderabad's airport is expected to include a dormitory for its workers
 "Apple supplier in India working on setting up worker dormitories: Report")
CBI opposes statutory bail granted to DHFL's Wadhawans in loan scam case
In this case, the CBI filed the charge sheet on the 88th day after registration of the FIR and the trial court granted default bail to accused and Delhi High Court upheld order, law officer said
 "CBI opposes statutory bail granted to DHFL's Wadhawans in loan scam case")
Employers in India bullish globally on hiring in 2024 March qtr: Survey
According to the latest ManpowerGroup Employment Outlook Survey of nearly 3,100 employers across sectors and regions, the Net Employment Outlook (NEO) in India is the highest amongst 41 countries
 "Employers in India bullish globally on hiring in 2024 March qtr: Survey")
Cognizant shifts to asset-light model; to sell assets in Hyderabad, Chennai
The company has already vacated 1.15 million square feet of office space in Chennai, including 500,000 square feet in the DLF Cybercity SEZ and 650,000 square feet in the Ramanujan IT SEZ
 "Cognizant shifts to asset-light model; to sell assets in Hyderabad, Chennai")
Omidyar Network decides to exit Indian market after a decade of operations
'Omidyar Network India will stop making new investments and will completely transition out of the market by the end of 2024,' said the company in a blog post
 "Omidyar Network decides to exit Indian market after a decade of operations")
Tata Communications to deploy 'digital fabric' technology at all JLR sites
Tata Communications has already commenced implementation of the network transformation program and will complete the deployment by 2025
 "Tata Communications to deploy 'digital fabric' technology at all JLR sites")
Sun Pharma revises upwards price to fully acquire Taro to $43 per share
Subsequently, the company was engaged in multiple rounds of price negotiations with a special committee of the Board of Directors of Taro regarding the proposal
 "Sun Pharma revises upwards price to fully acquire Taro to $43 per share")
USFDA issues Form 483 with 5 observations to Torrent Pharma's Guj unit
The USFDA conducted a pre-approval Inspection at the company's oral manufacturing facility situated in Bileshwarpura, Gujarat from December 5 to 11, 2023, Torrent Pharma said in a regulatory filing
 "USFDA issues Form 483 with 5 observations to Torrent Pharma's Guj unit")
Hindalco plans Rs 800 cr investment to set up battery foil mfg unit
The facility, to be commissioned by July 2025, will initially produce 25,000 tonnes of the aluminium foil which forms the backbone of lithium-ion and sodium-ion cells, Hindalco Industries said
 "Hindalco plans Rs 800 cr investment to set up battery foil mfg unit")
Disney, Reliance Industries close in on deal to merge India media ops
Plans for a step-down subsidiary of RIL's Viacom18 are being floated to absorb Star India through a stock swap
Zomato looks to venture into catering business to expand market share
Zomato had launched a multi-cart option in June which helps users to order from several restaurants at the same time
Hindalco to invest Rs 800 cr for 25,000-tonne battery foil plant in Odisha
Hindalco Industries said that it has already achieved the technology breakthrough of manufacturing battery foils at its Mouda unit in Maharashtra
 "Hindalco to invest Rs 800 cr for 25,000-tonne battery foil plant in Odisha")
Corning to set up Rs 1,000 crore Gorilla Glass facility in Tamil Nadu
Corning has picked Tamil Nadu over Telangana due to its proximity to other Apple suppliers like Foxconn and Pegatron
 "Corning to set up Rs 1,000 crore Gorilla Glass facility in Tamil Nadu")
Ola Electric registers Rs 2,782 crore revenue in FY23, losses down 43%
The Bhavish Aggarwal-led company said that it has set in motion a few initiatives for strong growth and profitability in the near future
 "Ola Electric registers Rs 2,782 crore revenue in FY23, losses down 43%")
Kinetic's high-speed e-scooter Zulu comes with battery subscription plan
The battery subscription model is claimed to have reduced the acquisition cost by over 35 per cent and offers significant savings on running costs
 "Kinetic's high-speed e-scooter Zulu comes with battery subscription plan")
Supreme Court agrees to hear bankruptcy plea against Zee founder
IDBI Trusteeship is the debenture trustee of 425 debentures worth Rs 425 crore issued by Essel Infraprojects Limited (EIL)
 "Supreme Court agrees to hear bankruptcy plea against Zee founder")
Adani Green Energy to raise $410 million to refinance 2024 dollar bond
The refinancing plan for Adani Green's $500 million Dec. 10, 2024 bond, dated Dec. 8, fulfills a requirement laid out in the terms of the note
 "Adani Green Energy to raise $410 million to refinance 2024 dollar bond")
Adani Group Ebitda surges record 47% in first half to cross Rs 43,000 cr
Trailing 12-month Ebitda of Rs 71,253 crore (USD 8.6 billion) is around 3x of FY19 (April 2018 to March 2019 fiscal year) Ebitda
 "Adani Group Ebitda surges record 47% in first half to cross Rs 43,000 cr")
Rajiv Jain-led GQG's $10 billion India bet has winning picks beyond Adani
The value of India investments across six of GQG's funds jumped to $9.9 billion compared with $4.4 billion a year earlier, according to data compiled by Bloomberg
 "Rajiv Jain-led GQG's $10 billion India bet has winning picks beyond Adani")