Page 1407 - Company News

Coal India to phase out mining equipment imports that costs Rs 4,500 cr

In a boost to domestic manufacturing of earth-moving equipment used in mines, Coal India Ltd has decided to phase out imports over a period of 5-6 years, the Coal Ministry said on Monday.

Apax Funds to buy stake in travel tech firm IBS Software from Blackstone

To acquire Blackstone's minority stake in the software-as-a-service solutions provider

SC defers hearing of Adani-Hindenburg case; extension to Sebi yet uncertain

The deadline was sought by the regulator to complete the probe of the allegations in the Hindenburg report

Janus Henderson marks down PharmEasy's valuation by half to $2.8 bn

Neuberger Berman, another US investor, earlier marked down valuation of shares it holds in online pharmacy's parent

Patel Engineering net profit grows to Rs 84.3 cr in March quarter

The company's revenues from operations also surged to Rs 1,298.34 crore, from Rs 1,111.6 crore in the year ago quarter

George Soros's firm among top bidders to acquire Vice out of bankruptcy

Vice's rapid downfall underscores the challenges facing digital media companies, which are struggling as advertisers cut spending during an uncertain economy

Allegations that we have been investigating Adani since 2016 baseless: Sebi

Sebi also sought an extension of the deadline to complete the probe to ensure 'carriage of justice'

iPhone 15 series: Apple's upcoming phones to be made in India by Tata Group

According to TrendForce, Tata Group is expected to become the fourth iPhone assembler for Apple. Currently, Foxconn, Luxshare, and Pegatron assemble iPhones for Apple in India

Coca Cola, Zepto expand partnership to 'return and recycle' PET bottles

Companies' expand initiative after 60-day pilot in Mumbai gets 'overwhelming customer response'

Hyperlocal logistics firm Shadowfax to hire 10,000 delivery partners

Company's nationwide network serves major e-commerce, food, grocery and retail companies

CRED-owned Happay lays off 35% of its workforce as 'restructuring exercise'

According to the report, Happay is giving impacted employees three months salary along with an extension of insurance coverage and some other additional benefits

DMart retail chain slumps nearly by 5% on profit miss, margin drop

Shares of Avenue Supermarts Ltd, which operates the DMart retail chain, fell 4.7% after the company's fourth-quarter profit missed estimates and core profit margin contracted

Layoffs also harm shareholder returns in the long term: Gartner report

Layoffs can inadvertently reduce shareholder returns when taking actions to protect them, as companies tend to underestimate the organisational drag created by large-scale workforce reductions

SpiceJet subsidiary SpiceXpress to get $100 mn investment from UK group

Also, last week, the airline said it has no plans to file for insolvency and would invest $50 million to revive 25 grounded planes

Adani stocks have seasonality to help in recovery from $100 billion rout

Stocks of at least four companies controlled by billionaire Gautam Adani - including the conglomerate's flagship Adani Enterprises Ltd. - show a strong tendency to climb in the second half of year

Govt may expedite Bill that assures lessors on repossession of aircraft

NCLT had on May 10 barred lessors from repossessing their planes from insolvent Go First

Statsguru: Six charts explain trouble in India's aviation sector is not new

But the bankruptcy came at a time when things were finally starting to look up for the industry

Go First's insolvency flight leaves trail of concerns for aircraft lessors

At least 50 requests to take back as many leased planes from two Indian airlines in less than two weeks

Vedanta's record dividend to parent strains company's balance sheet

The company paid a record equity dividend of Rs 37,758 crore (approx. $4.4 billion) in FY23

Poonawalla Fincorp to keep headcount at 3,000 for 5 yrs to build AUM

Eyes Rs 50,000 crore AUM by FY27, up from Rs 16,000 cr currently