Page 1322 - Company News
Cube Highways Trust secures Rs 1,030 cr funding from IFC via long-term NCDs
The funds raised through this deal will be utilised for a special purpose vehicle (SPV) owned by Cube Highways Trust
 "Cube Highways Trust secures Rs 1,030 cr funding from IFC via long-term NCDs")
ICICI Securities to become 100% subsidiary of ICICI Bank after delisting
As a part of the acquisition, shareholders of ICICI Securities will get 67 equity shares of ICICI Bank for every 100 shares of the company
 "ICICI Securities to become 100% subsidiary of ICICI Bank after delisting")
mPokket aims to disburse Rs 8,000 cr in 2023, target 3 million borrowers
Digital lending platform mPokket on Thursday said it targets to disburse Rs 8,000 crore, targeting 30 lakh borrowers in 2023, and also double its customer base in the upcoming years
 "mPokket aims to disburse Rs 8,000 cr in 2023, target 3 million borrowers")
Conscient Infrastructure buys 6.6 acre land in Gurugram for around Rs 85 cr
Indian Hotels Company Ltd (IHCL) on Thursday announced the opening of its first hotel in Jammu under Vivanta brand
 "Conscient Infrastructure buys 6.6 acre land in Gurugram for around Rs 85 cr")
Zomato keeps its lead over Swiggy, gross merchandise value jumps 26%
In its annual report earlier this week, Prosus - Swiggy's biggest investor with a 33 per cent stake in the company - indicated that Swiggy's losses jumped 80 per cent year-on-year (YoY) between Jan 1-
 "Zomato keeps its lead over Swiggy, gross merchandise value jumps 26%")
Rise above the noise: Byju Raveendran talks 'struggles', not layoffs
In a townhall, Raveendran tells employees edtech is not a 'pandemic phenomenon'
 "Rise above the noise: Byju Raveendran talks 'struggles', not layoffs")
Lenders vote in favour of Hinduja offer for bankrupt Reliance Capital
SC decision on Torrent plea key to transaction
 "Lenders vote in favour of Hinduja offer for bankrupt Reliance Capital")
Large cost-optimisation deals returning for top Indian IT companies
In recent months both TCS and Infosys announced bagging mega deals
 "Large cost-optimisation deals returning for top Indian IT companies")
Infosys placing emphasis on upskilling employees: Nandan Nilekani
Nandan Nilekani said that Infosys spares no effort in giving its employees opportunities to upskill and improve
 "Infosys placing emphasis on upskilling employees: Nandan Nilekani")
CIL should remain public sector entity to maintain price stability: Chair
As a government-owned entity, Coal India holds the responsibility of ensuring that the benefits of coal production are distributed to the public, he said
 "CIL should remain public sector entity to maintain price stability: Chair")
Paracetamol maker Granules India flags operations hit from cyber attack
Due to significant changes in its IT systems, the IT security incident caused a major disruption in its business operations, the Paracetamol maker said in an exchange filing
 "Paracetamol maker Granules India flags operations hit from cyber attack")
Proptech firm Reloy raises Rs 7.2 cr from investors to grow business
The investment will be used to fuel the company's growth and expansion plans, the company said
 "Proptech firm Reloy raises Rs 7.2 cr from investors to grow business")
Go First revival plan: DGCA to conduct audit before restarting operations
Senior representatives of the current management of Go First, which has stopped flying since May 3, discussed various aspects of the revival plan with DGCA officials
 "Go First revival plan: DGCA to conduct audit before restarting operations")
Uniqlo to expand its manufacturing bandwidth through 20 partners in India
Uniqlo has multiple production partners in India and is looking to expand this network through a large investment; CEO Tadashi Yanai says he wants Uniqlo to become the "best-selling retailer in India"
 "Uniqlo to expand its manufacturing bandwidth through 20 partners in India")
Procter - Gamble India to invest $244 mn to set up manufacturing facility
The facility will be operational in the next few years and become a global export hub for P&G, the Whisper sanitary napkin maker said
 "Procter - Gamble India to invest $244 mn to set up manufacturing facility")
ONGC sells KG basin field's gas to Torrent, GAIL at $11 per mmBtu
In an e-auction, firm sold 1.4 million standard cubic meters per day - a fraction of the planned output from the block that sits next to Reliance Industries' prolific KG-D6 area in the Bay of Bengal
 "ONGC sells KG basin field's gas to Torrent, GAIL at $11 per mmBtu")
Adani-Total Gas to invest Rs 20k cr in 8-10 yrs to expand retail CNG line
The company retails CNG to automobiles and pipes gas to household kitchens for cooking purposes in 52 licences that cover 124 districts of the country. It has 460 CNG stations in the country
 "Adani-Total Gas to invest Rs 20k cr in 8-10 yrs to expand retail CNG line")
As part of restructuring, Xiaomi India to cut its workforce to below 1,000
The company has lost market share to similar, budget smartphone manufacturers from China which include Realme, Oppo, and Vivo
 "As part of restructuring, Xiaomi India to cut its workforce to below 1,000")
Ericsson, Nokia not ready to supply 5G equipment to Vi on credit: Report
Recently, Ericsson provided the telco with 2G radios, but only after it made the entire payment
 "Ericsson, Nokia not ready to supply 5G equipment to Vi on credit: Report")
Apple stock hits record, on the cusp of $3 trillion market capitalisation
The iPhone maker's stock rose 0.6% to end the day at $189.25, putting Apple's market value at $2.98 trillion, according to Refinitiv data
 "Apple stock hits record, on the cusp of $3 trillion market capitalisation")