Page 1326 - Company News
SBI to acquire 20% stake of SBI Capital Markets in SBI Pension Funds
It manages over 48% market share of AUM in the private sector
 "SBI to acquire 20% stake of SBI Capital Markets in SBI Pension Funds")
Dealings in shares of at least three Adani companies under Sebi lens
Regulator probes possible breach of laws related to insider trading
 "Dealings in shares of at least three Adani companies under Sebi lens")
Competition Comm issues show cause notice on Air India-Vistara merger deal
Competition Commission of India (CCI) has issued a show cause notice to the parties with respect to the proposed merger of Tata Group airlines Vistara and Air India, according to a source
 "Competition Comm issues show cause notice on Air India-Vistara merger deal")
Ford cutting several hundred jobs to reduce cost amid transition to EVs
Ford Motor Co. is going through another round of white-collar job cuts as the company continues to reduce costs amid a transition to electric vehicles
 "Ford cutting several hundred jobs to reduce cost amid transition to EVs")
Prosus NV slashes valuation of edtech giant Byju's to $5.1 billion
Prosus had downsized the value of its 9.6% stake in Byju's to around $493 million in the financial year ended March 31, the report added
 "Prosus NV slashes valuation of edtech giant Byju's to $5.1 billion")
NDTV's shareholders approve appointments of new directors on board
Shareholders of the Adani-group-controlled NDTV have approved the proposals to appoint new directors to the board after Adani Group acquired the media firm
 "NDTV's shareholders approve appointments of new directors on board")
CCI issues a show-cause notice to Air India on Vistara merger plan
The CCI has given Air India 30 days to respond, the sources said. The airline, however, did not respond to queries sent by Business Standard on the matter
 "CCI issues a show-cause notice to Air India on Vistara merger plan")
8 gazelles demoted to cheetahs, 9 out of Hurun Unicorn Index 2023
India's future unicorns are currently worth $57bn, with an increase of 16% as Compared to last year - mainly driven by addition of new future unicorns to the list
 "8 gazelles demoted to cheetahs, 9 out of Hurun Unicorn Index 2023")
DealShare to invest Rs 1,000 cr in 5 yrs to help MSME partners scale biz
DealShare's core e-commerce portfolio sources goods and products from more than 500 indigenous brands, accounting for nearly 70 per cent of its product offerings
 "DealShare to invest Rs 1,000 cr in 5 yrs to help MSME partners scale biz")
Vedanta-Foxconn JV reapplies for chip manufacturing unit incentives
The company had earlier announced that the plant will be set up in Dholera, Gujarat, with an investment of around Rs 1.5 trillion and start making revenue by 2027
 "Vedanta-Foxconn JV reapplies for chip manufacturing unit incentives")
Swiggy's losses jump 80% YoY and PayU business rev up 31%: Prosus
Swiggy's core restaurant food delivery business, Prosus said, recorded GMV growth of 26 per cent, while Instamart -- its quick commerce vertical - grew its GMV by 459 per cent
 "Swiggy's losses jump 80% YoY and PayU business rev up 31%: Prosus")
CCI approves acquisition of TCNS Clothing by Aditya Birla Fashion
The proposed combination involves acquisition of 51% of the expanded share capital of TCNS Clothing Co Limited by the Aditya Birla Fashion and Retail Limited
 "CCI approves acquisition of TCNS Clothing by Aditya Birla Fashion")
Consumers' purchasing power may increase further, says Dorab Mistry
Adani Wilmar's non-exec chairman says firm investing in food processing capacity and expanding product portfolio to meet growing demand
 "Consumers' purchasing power may increase further, says Dorab Mistry")
Amid growing focus on business messaging, Meta announces new features
Meta's new feature will allow users of WhatsApp Business - the app focused on small merchants - to start advertising on the app by confirming their email address and form of payment
 "Amid growing focus on business messaging, Meta announces new features")
As Google moves SC against CCI order, here's how the events unfolded
Competition Commission of India imposed a monetary fine of Rs 1337.76 crore on the tech giant as well as a list of directives it must follow
 "As Google moves SC against CCI order, here's how the events unfolded")
Vedanta Foxconn JV re-submit application to set up semiconductor plant
Under the modified programme, the government has increased the fiscal incentive to 50 per cent of the project cost for setting up semiconductor Fabs in India of any node (including mature nodes)
 "Vedanta Foxconn JV re-submit application to set up semiconductor plant")
Lupin likely to demerge its active pharmaceutical ingredients business
As such the API business contributes around 7 percent to Lupin's overall turnover
 "Lupin likely to demerge its active pharmaceutical ingredients business")
Adani Total Gas to expand pan-India presence, build 1,800 CNG stations
ATGL will also diversify its offerings to compressed natural gas, compressed biogas, and electric vehicle charging along with scaling its gas distribution business
 "Adani Total Gas to expand pan-India presence, build 1,800 CNG stations")
Toshiba secures contract from Bengaluru water supply body to manage STPs
The agreement is also for the upgradation and rehabilitation of five STPs in Bengaluru
 "Toshiba secures contract from Bengaluru water supply body to manage STPs")
Tomato prices at Mother Dairy's Safal stores doubled to nearly Rs 80 per kg
The best quality tomatoes at Mother Dairy's Safal retail store are being sold at Rs 78 per kg on Tuesday. Some varieties are available at lower rates also
 "Tomato prices at Mother Dairy's Safal stores doubled to nearly Rs 80 per kg")