Page 1336 - Company News
LIC pares 2% stake in NMDC for Rs 649 cr; brings down holding to 9.62%
Life Insurance Corporation (LIC) has reduced its stake in iron ore producer NMDC to 9.62 per cent by selling a little over 2 per cent stake for about Rs 649 crore.
 "LIC pares 2% stake in NMDC for Rs 649 cr; brings down holding to 9.62%")
Saya Group to invest Rs 2,000 cr in 1.4 mn sq ft-shopping mall in Noida
The company will keep 70 per cent area in the mall and sell 30 per cent area to investors. The company however will retain the leasing rights
 "Saya Group to invest Rs 2,000 cr in 1.4 mn sq ft-shopping mall in Noida")
Michelin with CleanMax Enviro to raise renewable energy usage to 37%
According to CleanMax MD Kuldeep Jain, his company completed a 4.2 MW onsite solar photo-voltaic project for Michelin Group in 2020
 "Michelin with CleanMax Enviro to raise renewable energy usage to 37%")
Four Indian firms make into WEF's 100 most promising tech startups list
World Economic Forum (WEF) named four Indian entities, including Giftolexia Solutions and Xacmaz Technology, in its annual list of 100 most promising technology pioneers, comprising companies
 "Four Indian firms make into WEF's 100 most promising tech startups list")
Toyota Mobility Foundation launches $9 million global city challenge
The Toyota Mobility Foundation on Wednesday announced a $9 million global initiative in sustainable city mobility space in collaboration with Challenge Works and World Resources Institute
 "Toyota Mobility Foundation launches $9 million global city challenge")
MedPlus launches discount scheme to sell over 500 off-patent drugs
MedPlus Health Services Ltd, which runs a chain of pharmacies said it will be selling 500 off-patent therapeutic and chronic medicines under its own brand with a massive discount of 50-80%
 "MedPlus launches discount scheme to sell over 500 off-patent drugs")
Parry Enterprises, Memsift to set up membrane manufacturing facility
Parry Enterprises India Ltd, part of the diversified conglomerate Murugappa Group announced that it has inked a strategic partnership with Singapore-based Memsift Innovations
 "Parry Enterprises, Memsift to set up membrane manufacturing facility")
HAL, Argentinian aerospace firm FAdeA to explore collaboration in MRO space
Hindustan Aeronautics Limited and Argentina's Fabrica Argentina de Aviones (FAdeA) signed an MoU towards exploring the possibilities of collaboration in the field of maintenance, repair and overhaul
 "HAL, Argentinian aerospace firm FAdeA to explore collaboration in MRO space")
Amazon duped millions of consumers into enrolling in Prime, says US FTC
The FTC has been investigating sign-up and cancellation processes for the Prime program since March 2021
 "Amazon duped millions of consumers into enrolling in Prime, says US FTC")
Largest single aircraft order placed by any airline with Airbus: IndiGo
Engine selection for 500 planes order will be done in due course, it will be a mix of A320 and A321 aircraft, said IndiGo
 "Largest single aircraft order placed by any airline with Airbus: IndiGo")
SMFG India Credit plans to double AUM to over Rs 70,000 cr in 3 years
Shantanu Mitra, its chief executive and managing director, said the company's AUM expanded by over 40 per cent Year-on-Year basis to Rs 36,613 crore at end of March 2023 (FY23)
 "SMFG India Credit plans to double AUM to over Rs 70,000 cr in 3 years")
Extend trusted source mandate to all devices in network, says COAI
The COAI's argument may also cover Chinese handsets, which have also been scrutinised by the government on charges of being security risks
 "Extend trusted source mandate to all devices in network, says COAI")
Elon Musk to drive Tesla into India soon, plans to visit country next year
He said he hopes to bring SpaceX's Starlink satellite internet service to India, as well
 "Elon Musk to drive Tesla into India soon, plans to visit country next year")
VIL needs promoters, govt to work in tandem to attract new investors
The struggling telecom service provider urgently needs the promoters and the government to work in tandem to attract new investors
 "VIL needs promoters, govt to work in tandem to attract new investors")
Weight issues in HDFC merger to create fresh trouble for large-cap funds
Active fund managers will be forced to remain underweight on the stock; Could have a bearing on their performance
 "Weight issues in HDFC merger to create fresh trouble for large-cap funds")
Tamil Nadu govt defends Fintech City contract, says process transparent
Company that won deal for project is not blacklisted, it says after criticism
 "Tamil Nadu govt defends Fintech City contract, says process transparent")
Vedanta likely to sell copper plant in Tamil Nadu for Rs 4,500 crore
VRL has $1.7 billion of short-term investments in various bank deposits, quoted bonds and mutual funds as of March 2023
 "Vedanta likely to sell copper plant in Tamil Nadu for Rs 4,500 crore")
Zee-Sony merger is at risk after Sebi order, says BofA Securities
The US-based brokerage doesn't have any price target, given the uncertainty surrounding the merger and pressure on revenue growth due to slower ad spending
 "Zee-Sony merger is at risk after Sebi order, says BofA Securities")
Akasa Air orders four more B737 Max aircraft from US-based Boeing
In November 2021, Akasa Air had ordered 72 Max aircraft from Boeing.
 "Akasa Air orders four more B737 Max aircraft from US-based Boeing")
Reliance Consumer takes its staples brand 'Independence' to North India
In May, RCP announced its entry in the western snacks category with the launch of Alan's Bugles in India marking its foray into the snacks segment
 "Reliance Consumer takes its staples brand 'Independence' to North India")