Page 1408 - Company News
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
 "Vedanta's record dividend to parent strains company's balance sheet")
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
 "Poonawalla Fincorp to keep headcount at 3,000 for 5 yrs to build AUM")
Ramkrishna-Titagarh consortium scouting for sites for train wheel plant
A consortium of Titagarh Wagons and Ramkrishna Forgings is in the process of identifying a cost-effective location to set up one of Asia's largest train wheel manufacturing plants, an official said
 "Ramkrishna-Titagarh consortium scouting for sites for train wheel plant")
Lobbying by lessors, faulty Pratt & Whitney engines hurt India: Go First
Blames American firm for heavy losses, targets AWG
 "Lobbying by lessors, faulty Pratt & Whitney engines hurt India: Go First")
Go First has access to Rs 300 cr, will start ops at the earliest: Exec
Wadias infused Rs 290 cr in the airline in April. Under the Emergency Credit Line Guarantee Scheme, the airline can draw an equivalent amount in loans from banks
 "Go First has access to Rs 300 cr, will start ops at the earliest: Exec")
IL&FS transfers Pune Sholapur Road asset to Invit at value of Rs 2,000 cr
IL&FS has completed transfer of its fifth road asset - Pune Sholapur Road Development Company Limited (PSRDCL) - to Roadstar Infra Investment Trust (Invit) as part its debt resolution strategy
 "IL&FS transfers Pune Sholapur Road asset to Invit at value of Rs 2,000 cr")
Indian aviation mkt 'booming'; to expand routes with IndiGo: Air France-KLM
Bullish on "booming" Indian aviation market, European airline major Air France-KLM is keen to expand routes and capacity as well as increase its routes with IndiGo, according to senior executives
 "Indian aviation mkt 'booming'; to expand routes with IndiGo: Air France-KLM")
ELGI Sauer Compressors sets new manufacturing unit to produce compressors
ELGI Sauer Compressors Ltd, a joint venture between Elgi Equipments Ltd and Germany-based Sauer Compressors Group, has set up a manufacturing facility at an investment of about Rs 400 million.
Premium smartphone sales soar as Amazon India bets on 5G, tier-2+ markets
"This growth is mainly being driven by upgrades," Ranjit Babu, Director, Wireless and Home Entertainment, Amazon India, told Business Standard
 "Premium smartphone sales soar as Amazon India bets on 5G, tier-2+ markets")
Govt set to make an equity infusion of Rs 300 crore in Alliance Air
The government is set to make an equity infusion of Rs 300 crore in regional carrier Alliance Air, which is facing financial headwinds, according to a senior official.
 "Govt set to make an equity infusion of Rs 300 crore in Alliance Air")
Electric E2W manufacturer Hero Electric to go public by FY26: CEO
To target 2 million vehicle sales before listing
 "Electric E2W manufacturer Hero Electric to go public by FY26: CEO")
Warring sibling promoters put Hikal's future at stake, says InGovern
Calls for change in management, board to protect minority shareholders' interest
 "Warring sibling promoters put Hikal's future at stake, says InGovern")
Housing sales in FY23 up 48% at Rs 3.47 trn due to higher volumes: Anarock
Housing sales rose 48 per cent year-on-year to Rs 3.47 trn during the last fiscal across seven major cities on higher volumes and better price realisation, according to Anarock
 "Housing sales in FY23 up 48% at Rs 3.47 trn due to higher volumes: Anarock")
Enough opportunities to take capacity to 40 MT in India: Tata Steel CEO
Tata Steel sees enough growth opportunities within its existing facilities to actualise an expansion plan to achieve 40 million tonne capacity in India by 2030
 "Enough opportunities to take capacity to 40 MT in India: Tata Steel CEO")
Contract player VMI to sell directly via Skyball; invest Rs 100 cr in 3 yrs
Domestic electronics manufacturing services company Videomax International will sell home audio, smart accessories and consumer electronic products through its own brand Skyball
 "Contract player VMI to sell directly via Skyball; invest Rs 100 cr in 3 yrs")
NPCI plans more tie-ups to boost global acceptability of RuPay debit cards
National Payments Corporation of India (NPCI) is exploring options for further tie-ups to strengthen the global acceptability of RuPay debit cards
 "NPCI plans more tie-ups to boost global acceptability of RuPay debit cards")
JSW Infrastructure to invest Rs 152 cr to grow container capacity at NMPT
JSW Infrastructure will invest Rs 152 crore for the expansion of its container capacity at New Mangalore Port Trust, according to sources
 "JSW Infrastructure to invest Rs 152 cr to grow container capacity at NMPT")
Godrej Properties on land-buying spree; to acquire Rs 15k cr projects
Seeking to encash strong housing demand, realty firm Godrej Properties will acquire multiple land parcels this fiscal having sales revenue potential of around Rs 15,000 crore post-development
 "Godrej Properties on land-buying spree; to acquire Rs 15k cr projects")
ONGC scraps bids for Daman gas field development over cost concerns
State-owned Oil and Natural Gas Corporation (ONGC) has cancelled the bids received for its Daman upside gas development project off the western coast due to high price quotes, sources said
 "ONGC scraps bids for Daman gas field development over cost concerns")
Blue Star targeting to double exports within 3 years, says top official
Blue Star Ltd is targeting to double its exports within three years as the company looks to expand its international footprint
 "Blue Star targeting to double exports within 3 years, says top official")