Page 1215 - Company News
Paytm disbursed loans worth Rs 5,517 crore in August, average MTU up 20%
In terms of the number of loans, in July and August, the company saw a 47 per cent jump from 6 million loans in 2022 to 8.8 million in 2023
 "Paytm disbursed loans worth Rs 5,517 crore in August, average MTU up 20%")
Hero MotoCorp approves Rs 550 cr additional investment in Ather Energy
The company's board, at its meeting held on September 4, 2023, has approved an investment of up to Rs 550 crore in the Rights issue of Ather Energy, Hero MotoCorp said in a regulatory filing
 "Hero MotoCorp approves Rs 550 cr additional investment in Ather Energy")
Zerodha's Kamath brothers to invest Rs 100 crore in Nazara Technologies
This will take Nikhil Kamath's stake in the firm to 3.5 per cent, up from an earlier 1 per cent
 "Zerodha's Kamath brothers to invest Rs 100 crore in Nazara Technologies")
FSIB recommends Vinay Tonse for MD position in State Bank of India
The final decision about the appointment will be taken by the government of India
 "FSIB recommends Vinay Tonse for MD position in State Bank of India")
Bharti Airtel to purchase 23,000 Mwh of renewable energy in Q4FY24
Airtel will do this by acquiring stakes in two renewable energy project companies - Continuum Green India and Vibrant Energy Holdings
 "Bharti Airtel to purchase 23,000 Mwh of renewable energy in Q4FY24")
Omaxe says promoters Rohtas Goel, Sunil Goel settled dispute amicably
Realty firm Omaxe said promoters Rohtas Goel and Sunil Goel have settled their dispute amicably, with the latter withdrawing legal cases
 "Omaxe says promoters Rohtas Goel, Sunil Goel settled dispute amicably")
Torrent leads race to acquire Cipla with 30% higher offer than Blackstone's
Shares of Cipla closed at Rs 1,239 apiece on the BSE on Monday, with a market valuation of Rs 1 trillion
 "Torrent leads race to acquire Cipla with 30% higher offer than Blackstone's")
Government invites bids to engage asset valuer for IDBI Bank sale
The asset valuer would be required to value IDBI Bank's investments; loans & advances; fixed assets and other assets
 "Government invites bids to engage asset valuer for IDBI Bank sale")
New Zee-TV Zulu channel will be catalyst for social cohesion: Zulu King
A new channel launched by Indian media conglomerate Zee Enterprises which will feature programmes dubbed into South Africa's largest language, isiZulu
 "New Zee-TV Zulu channel will be catalyst for social cohesion: Zulu King")
Insolvency proceedings: Gujarat High Court stays NCLT order against Rasna
In a major relief for Rasna, the Gujarat High Court on Monday stayed the NCLT order directing the initiation of insolvency proceedings against the homegrown beverage brand
 "Insolvency proceedings: Gujarat High Court stays NCLT order against Rasna")
Mahindra to use Volkswagen's MEB components for EV production in India
Mahindra to invest around Rs 10,000 crore towards its EV subsidiaries over the next 5 years
 "Mahindra to use Volkswagen's MEB components for EV production in India")
ICAR signs agreement with Bayer for resource technology development
As part of the collaboration, Krishi Vigyan Kendras will strengthen outreach to a wider farmers' base by leveraging technological know-how
 "ICAR signs agreement with Bayer for resource technology development")
Nasscom appoints Cognizant chairman, MD Rajesh Nambiar as new chairperson
Nambiar has previously served as the Vice Chairperson of Nasscom and will succeed Anant Maheshwari, Former President, of Microsoft India as its new chairperson
 "Nasscom appoints Cognizant chairman, MD Rajesh Nambiar as new chairperson")
Paytm's Sharma open to increasing stake in Indian payments firm
Sharma, also CEO of Paytm, holds a 19.42% in Paytm after purchasing shares from Antfin amid broader concerns about Chinese ownership in Indian financial technology companies
 "Paytm's Sharma open to increasing stake in Indian payments firm")
SpiceJet gives lessors shares to clear $28 million outstanding dues
The carrier's shareholders had on Thursday passed a number of resolutions, including a 25 billion rupees fundraise and a preferential issue of shares to lessors to clear outstanding dues
 "SpiceJet gives lessors shares to clear $28 million outstanding dues")
IT companies step up GenAI investments as clients ready for paid POCs
However, GenAI has a margin optimisation implication for IT providers as they are also using it internally to cut down development times for client projects
 "IT companies step up GenAI investments as clients ready for paid POCs")
Tata Power Renewable Energy to set up 26 MW captive solar project in Maha
Tata Power Renewable Energy Limited (TPREL) will set up a 26-MW captive solar plant at Ahmednagar in Maharashtra
 "Tata Power Renewable Energy to set up 26 MW captive solar project in Maha")
Swedish luxury carmaker Volvo revs up with EVs, eyes record sales in 2023
Earlier, its peak sales was in 2018, when it sold 2,600 cars
 "Swedish luxury carmaker Volvo revs up with EVs, eyes record sales in 2023")
Udaan makes organisational changes in business and tech verticals
Vivek Gupta, who led the essentials business, will transition from the operating role
 "Udaan makes organisational changes in business and tech verticals")
InterGlobe Aviation to set up subsidiary for financing aviation assets
InterGlobe Aviation, the parent of the country's largest airline IndiGo, will set up a subsidiary with an investment of up to Rs 30 crore for financing aviation assets
 "InterGlobe Aviation to set up subsidiary for financing aviation assets")