Page 1150 - Company News
IOC to invest over Rs 2,600 crore to set up greenfield units in northeast
The company is at present carrying out nearly a dozen projects, both greenfield and brownfield, across the region, entailing a total investment of Rs 2,612 crore, IOC Executive Director said
 "IOC to invest over Rs 2,600 crore to set up greenfield units in northeast")
Airbnb added Rs 7,200 crore to India GDP last year: Oxford Economics
The GDP contribution and jobs supported more than doubled compared to 2019 despite the Covid-19 outbreak and the related restrictions
 "Airbnb added Rs 7,200 crore to India GDP last year: Oxford Economics")
Q2 advances: Federal Bank to BoM, banks clock healthy double-digit growth
The pace of loan growth for these lenders was higher than the 15.1 per cent Y-o-Y growth in advances of the banking system until 8 September 2023, according to Reserve Bank of India's data
 "Q2 advances: Federal Bank to BoM, banks clock healthy double-digit growth")
Dunzo to settle ex-employees dues in 3 months, firm restructuring underway
Logistics and delivery firm Dunzo plans to settle dues of former employees in next three months while it is regularising salary for its current employees, sources said
 "Dunzo to settle ex-employees dues in 3 months, firm restructuring underway")
Abu Dhabi-based IHC increases stake in Adani Enterprises to over 5%
IHC's Tuesday stake buy of 0.06 per cent would be worth Rs 163 crore on the basis of the day's closing price
 "Abu Dhabi-based IHC increases stake in Adani Enterprises to over 5%")
Trade regulator CCI gives nod to deal involving Lanco Amarkantak Power
Deals beyond a certain threshold require approval from the regulator, which keeps a tab on unfair business practices and promotes fair competition in the marketplace
 "Trade regulator CCI gives nod to deal involving Lanco Amarkantak Power")
Warren Buffett's company dumps another 5 million shares of printer maker HP
Investors soon won't be able to follow Warren Buffett's every move in HP's stock if the billionaire's company keeps selling off shares of the printer and computer maker
 "Warren Buffett's company dumps another 5 million shares of printer maker HP")
New Jersey court tosses $223.8 mn verdict against J&J in talc cancer case
J&J is separately suing one of those experts, Jacqueline Moline, over a study she co-authored in 2019. That study was not at issue in Tuesday's decision
 "New Jersey court tosses $223.8 mn verdict against J&J in talc cancer case")
ICICI Bank raises Rs 4,000 crore through bonds to fund business growth
The bonds carry a coupon of 7.57 per cent per annum payable annually and were issued at par, it said, adding, the bonds would be listed in the relevant segment of the NSE
 "ICICI Bank raises Rs 4,000 crore through bonds to fund business growth")
Semiconductor chip crunch more or less resolved: Hyundai COO Tarun Garg
The company currently sells 13 models, including Creta, Exter and Venue, in India. He said that in 2022, only 18 per cent of the company's models had six airbags as standard
 "Semiconductor chip crunch more or less resolved: Hyundai COO Tarun Garg")
Lenders unlikely to clear Anil Agarwal's Vedanta spinoff in hurry
To scrutinise rationale for recast, structural details, plans for each unit
 "Lenders unlikely to clear Anil Agarwal's Vedanta spinoff in hurry")
CRISIL upgrades Thomas Cook's credit rating in both short and long term
The upgraded ratings factor in strong support from the parent company Fairfax Financial Holdings Ltd, it said
 "CRISIL upgrades Thomas Cook's credit rating in both short and long term")
LIC gets income tax penalty notice of Rs 84 cr; insurer to file appeal
The notice was issued by the Tax Department on September 29, 2023, it said
 "LIC gets income tax penalty notice of Rs 84 cr; insurer to file appeal")
Agile policy helped increase freight earnings by Rs 2,706 cr: Railways
The railways has claimed that a customer-centric approach and the work of business development units backed up by agile policy making have helped it towards this significant achievement
 "Agile policy helped increase freight earnings by Rs 2,706 cr: Railways")
Vedanta's aluminium production rises 2% to 594,000 tonnes in Jul-Sept
The company's total aluminium output in the July-September period of the last fiscal was 5,84,000 tonnes, Vedanta said in a filing to BSE
 "Vedanta's aluminium production rises 2% to 594,000 tonnes in Jul-Sept")
CAIT files complaint against Flipkart, Amitabh Bachchan for 'misleading' ad
CAIT demanded that a penalty be imposed on Flipkart as per relevant provisions of the Consumer Protection Act for "false or misleading advertisement"
 "CAIT files complaint against Flipkart, Amitabh Bachchan for 'misleading' ad")
Bajaj Allianz gets Rs 1,010 crore tax demand from GST intelligence
The notice claims that the general insurer has not paid GST on reinsurance premium, despite receiving commissions from co-insurance companies
 "Bajaj Allianz gets Rs 1,010 crore tax demand from GST intelligence")
Robert Bosch Automotive Steering pays Rs 10 lakh to settle case with Sebi
The order came after the applicant had filed a suo motu settlement application proposed to "settle by neither admitting nor denying any conclusions of law or fact"
 "Robert Bosch Automotive Steering pays Rs 10 lakh to settle case with Sebi")
Flipkart unveils VIP subscription programme ahead of the festive season
Flipkart is taking on Amazon by introducing a paid subscription service primarily aimed at shoppers in top cities.
 "Flipkart unveils VIP subscription programme ahead of the festive season")
Krypton may invest $100 mn to set up a fabrication unit in Karnataka
Krypton Solutions plans to invest in Bommasandra for a new PCB facility in Karnataka
 "Krypton may invest $100 mn to set up a fabrication unit in Karnataka")