Page 1575 - Company News

Aditya Birla Fashion reports steep drop of 92% in profit for Dec quarter

BENGALURU (Reuters) - Indian apparel retailer Aditya Birla Fashion and Retail Ltd reported a steep 92% drop in third-quarter profit on Tuesday, hurt by soaring marketing expenses.

3,552 foreign companies, subsidiaries closed in India between 2017-2022

A total of 3,552 foreign companies and subsidiaries of foreign companies have been closed in India between 2017 and 2022.

Wework starts new coworking centre in Pune with 1,500 seating capacity

Coworking major WeWork India has started a new centre in Pune with 1,500 desks and 96,000 square feet area amid rising demand for flexible office space from corporates.

Chambal Fertilisers reports 26% slump in Q3 profits on weak demand

(Reuters) - India's Chambal Fertilisers and Chemicals Ltd reported a near 26% slump in quarterly profit on Tuesday after a weak demand due to erratic monsoon led to a pile-up of unsold stock.

India's non-fossil power generation touches 174 GW in 2022: R K Singh

India's non-fossil fuel-based power generation capacity was at 174.53 gigawatt (GW) at the end of December 31, 2022, Parliament was informed on Tuesday.

Banks' exposure to Adani group 'insufficient' to pose credit risk: Fitch

MUMBAI (Reuters) -The exposure of banks to the embattled Adani Group is 'insufficient in itself' to present a substantial risk to credit profiles of these lenders, Fitch Ratings said in a note.

Japan's SoftBank Group logs $5.9 bn loss as tech investments tumble

SoftBank Group Corp. racked up a 783 billion yen (USD 5.9 billion) loss for the fiscal third quarter, a reversal from the 29 billion yen profit recorded the same period a year ago

ONGC to explore investing in Argentina gas assets: Chairman Arun Kumar

The company also signed a memorandum of understanding with Argentina's state oil company YPF for hydrocarbon cooperation

To pacify stakeholders, top banks declare their exposure to Adani Group

The lenders to the group include big names like the State Bank of India, Bank of Baroda, the Punjab National Bank, Axis Bank, and IndusInd Bank

Petronet seeks additional LNG of 0.75 to 1 mn tonnes from Qatar, says CEO

India's top gas importer Petronet LNG is seeking additional Liquified Natural Gas (LNG) of 0.75 to one million tonnes per annum (mtpa) from Qatar, the company's Chief Executive A.K. Singh said

PC sales set to slow down in India as hardware firms announce layoffs

Sale boom during pandemic waning as consumers delay purchase due to fear of recession: Report

IT firms tighten employee scrutiny amid high costs, thin margins: Report

The senior employees who have been hired at a premium over the past two years will also face a greater degree of scrutiny

SBI has 'well-manageable' exposure to embattled Adani Group: CreditSights

CreditSights pointed out that the country's largest lender has a provision reserves buffer of around 338 billion rupees ($4.08 billion), or around 1% of net loans

Aviation giant Boeing to slash 2,000 jobs in finance, HR this year

Aviation giant Boeing is slashing 2,000 jobs in finance and HR verticals this year and the company outsources about a third of those jobs to Tata Consulting Services (TCS) in Bengaluru

EV startup Simple Energy raises $20 mn from investors in Bridge round

Electric vehicle startup Simple Energy on Tuesday announced raising $20 million (about Rs 165 crore) from a clutch of investors as a part of its ongoing Bridge round

Vedanta picks David Reed as CEO of its Gujarat semiconductor business

Reed began his career at Texas Instruments in 1984, where he served for 26 years

Air India to borrow Rs 18K-cr from SBI, BoB to refinance existing debt: Rpt

These loans will be in continuation of the debt facility Tata Group received following the acquisition of Air India

Novatek in talks with Indian firms on LNG, may consider payment in rupees

Russia supplied Europe with some 17 million tonnes of LNG last year, up about 20% from 2021 volumes, Refinitiv Eikon data showed on Tuesday

Google hopes its chatbot 'Bard' will outsmart ChatGPT, Microsoft in AI

Bard initially will be available exclusively to a group of trusted testers" before being widely released later this year, according to a Monday blog post from Google CEO Sundar Pichai

Adani Group still eligible for CEMBI, JACI, JESG indices: JP Morgan

"We continue to monitor publicly available information and liquidity of the securities, and in case of market disruption or confirmed default event"