Page 1052 - Company News

Air compressor maker Elgi Equipments seeks $450 mn revenue by FY26

US market holding well because of the country's investments in infrastructure, says senior executive

Amazon's 'AI Ready' initiative to train 2 million in AI skills by 2025

An AWS study found that 73% employers prioritise applicants with AI skills and these candidates can earn up to 47% more in salaries

Nike, Mitsubishi struggle to get Indian certification for Chinese vendors

Nike, Mitsubishi, and Carrier, among others, are having difficulty obtaining Bureau of Indian Standards (BIS) certification for their vendor factories in China

Magicpin food delivery order doubles to 1 mn on ONDC during World Cup

Magicpin said that it delivered 35,000 food orders during the India versus Pakistan match on October 14. The orders peaked at 50,000 on a single day during the India versus Australia match.

iPhone sales continue to surge; iPad, Macbook shipments set to decline

Apple's iPhones contribute more than 85% of the company's revenue from India

IndiGo's parent firm to challenge tax demands worth over Rs 1,666 cr

InterGlobe Aviation said it believes, based on legal advice from counsel, that the views taken by authority are not sustainable

Raymond loses Rs 1,500 cr market value after family feud breaks out

Nawaz Modi alleges corp governance lapses in the company

$5 bn & counting: iPhones consist 62.5% of India's smartphone exports

In the first seven months of FY24, iPhones accounted for over 62 per cent of the total smartphone exports. The rest came from Samsung and other brands

Not making false ad, ready for death sentence if found guilty: Patanjali

"Patanjali have made thousands of people free from several diseases like BP, sugar, thyroid, asthma, arthritis, obesity, liver and kidney failure, and cancer," the company asserted

BSE, NSE slap Rs 11.22 lakh fines on Adani Green Energy for non-compliance

The two exchanges imposed fines of Rs 5.61 lakh each on the company

Amazon India to use India's rivers, backwaters for transporting packages

Signs agreement with govt, to be first e-commerce player to use inland waterways

Semiconductor chip foray plan adds $3 billion to Murugappa Group's value

It would also provide investors an opportunity to bet on a sector that's added trillions of dollars in stock values globally this year, but has been largely absent from India's $3.7 trn equity market

Uber to start bus service in Kolkata for office-goers by March 2024

By March next year, Uber Shuttle will have 60 air-conditioned buses on predefined routes, connecting business districts with residential areas of the city

Liberty Shoes ousts Exec-Director Adesh Gupta after NCLT rejects his plea

Adesh Gupta, who along with some other shareholders holds 5.83% of the company, had filed a plea seeking waiver in requirements to file a plea alleging oppression and mismanagement

DGCA suspends RedBird's authorisation to carry out maintenance of planes

"The review has indicated that the flying training organisation has failed to continuously adhere to the provisions of Aircraft Rules, 1937 and Civil Aviation Requirements," DGCA said

Merlin Group signs MoU with World Trade Centers at Bengal business summit

Amrit Lal Batwal, senior manager at World Trade Center India, representing 13 centers in the northwest region, outlined the MoU's agenda to jointly work on industry initiatives

Uttarakhand tunnel incident spotlights safety in existing, future projects

Engineering companies expect the incident to spotlight safety as a major aspect in future tunnel projects in India

Jio Financial Services seeks RBI approval to convert as CIC from NBFC

According to the central bank, a CIC is a company whose assets are broadly invested in their group companies either in the form of equity, preference shares, convertible bonds or loans

Tata Steel board approves allotment of 75.8 mn shares to TSLP shareholders

According to the filing, the share exchange ratio will be 67:10, which means that 67 shares of Tata Steel will be allotted for every 10 shares of Tata Steel Long Products

Quant trading and investment management firm Alphagrep raises Rs 930 crore

The investors include UHNIs (ultra high networth individuals), HNIs (high networth individuals), family offices, and channel partners