Page 161 - Company News
Mercedes clocks best ever Navaratri with retail sales of 2,500 cars
After a sluggish July-August, Mercedes-Benz India posts record Navratri sales on GST cut boost; entry-level models lag but GLA under Rs 50 lakh may revive demand
 "Mercedes clocks best ever Navaratri with retail sales of 2,500 cars")
LTIMindtree wins its largest-ever deal; sources peg size at $580 million
The sixth largest software services exporter in India said the deal was with a leading global media and entertainment company, but did not disclose the name of the client
 "LTIMindtree wins its largest-ever deal; sources peg size at $580 million")
Hinduja Group firm IIHL Mauritius acquires 100% stake in Sterling Bank
With the acquisition, Sterling Bank has become a wholly-owned entity of Hinduja Group firm IIHL Mauritius, which is also the promoter of IndusInd Bank
 "Hinduja Group firm IIHL Mauritius acquires 100% stake in Sterling Bank")
Ola Electric's ferrite motor gets nod, cuts rare-earth dependence
India's largest EV maker secures certification for a ferrite motor that removes rare-earth magnets, tackling cost and supply-chain challenges in electric mobility
 "Ola Electric's ferrite motor gets nod, cuts rare-earth dependence")
CCI suggests companies to perform self-audits of AI-based systems
The study also comes at a time when there are concerns about algorithmic collusion and AI-driven pricing strategies that may lead to price discrimination
 "CCI suggests companies to perform self-audits of AI-based systems")
Bank of India's domestic advances rise nearly 15% to ₹5.96 trillion
Bank of India reports 11.8% growth in global business and strong gains in domestic lending, with retail term deposits up 14% year-on-year in September
 "Bank of India's domestic advances rise nearly 15% to ₹5.96 trillion")
Adani Enterprises taps debt private placement after 2-year gap: Bankers
Adani Enterprises raised 10 billion rupees in July via a public issue of two-, three- and five-year bonds at coupons of 8.95%-9.30%
 "Adani Enterprises taps debt private placement after 2-year gap: Bankers")
IEX reports 16% rise in energy trade to 35,217 mn units in Sep quarter
During the quarter, the Indian Energy Exchange (IEX) traded 44.22 lakh renewable energy certificates, recording a 30 per cent year-on-year decline
 "IEX reports 16% rise in energy trade to 35,217 mn units in Sep quarter")
ONGC to invest ₹8,110 cr to develop 172 onshore wells in Andhra Pradesh
A committee under the Ministry of Environment, Forest and Climate Change has recommended Environmental Clearance for the project in a meeting held last month
 "ONGC to invest ₹8,110 cr to develop 172 onshore wells in Andhra Pradesh")
Coal India's first all-women-operated central store unit opens at SECL
The company spokesperson said that store operations will be conducted through a modern SAP-based digital management system, ensuring efficiency and transparency
 "Coal India's first all-women-operated central store unit opens at SECL")
ITC Hotels signs agreement with KIHPL to manage luxury hotel in Patna
The project is set within a 1.5-acre site, helping the company expand its luxury hotel portfolio in the state
 "ITC Hotels signs agreement with KIHPL to manage luxury hotel in Patna")
Healthcare major Abbott launches dual-chamber leadless pacemaker system
Abbott said its implant-to-implant device technology enables wireless communication and synchronisation between two leadless pacemakers, which are smaller than an AAA battery.
 "Healthcare major Abbott launches dual-chamber leadless pacemaker system")
Mann Fleet Partners files draft IPO papers with Sebi to raise funds
The proposed IPO comprises a fresh issue of 64.10 lakh equity shares and an Offer For Sale (OFS) of up to 16 lakh equity shares by promoters
 "Mann Fleet Partners files draft IPO papers with Sebi to raise funds")
Jindal Stainless sets up fabrication unit worth ₹125 cr in Maharashtra
The unit will fabricate critical components, including bridge girders, among others, to support advanced infrastructure development in India
 "Jindal Stainless sets up fabrication unit worth ₹125 cr in Maharashtra")
Ola becomes 1st Indian automaker to get govt nod for in-house ferrite motor
This marks a breakthrough milestone that eliminates reliance on imported rare-earth motors with permanent magnets, the Bengaluru-based firm said
 "Ola becomes 1st Indian automaker to get govt nod for in-house ferrite motor")
Marico's Q2 volume growth in high single digit despite GST disruption
Marico "expects modest operating profit growth on a year-on-year basis" as it extended discounts on the pipeline inventory
 "Marico's Q2 volume growth in high single digit despite GST disruption")
Airtel Business secures multi-year deal for Indian Railways security
With centralised security controls, Airtel Business will build multi-layer protection to secure the expansive database of the railways
 "Airtel Business secures multi-year deal for Indian Railways security")
HC ends Maggi trademark case as utensil maker agrees to drop 'Maggisun'
The Delhi High Court closes Nestle's trademark suit against Shankeshwar Utensils as company agrees to stop using 'Maggisun' and cancel the trademark
 "HC ends Maggi trademark case as utensil maker agrees to drop 'Maggisun'")
SpiceJet launches daily non-stop Diwali flights from Ayodhya to 4 cities
Flights from Mumbai are also under consideration to further enhance connectivity during the upcoming festive and winter season
 "SpiceJet launches daily non-stop Diwali flights from Ayodhya to 4 cities")
Bank of Maharashtra logs 16.8% credit growth at ₹2.54 trillion in Q2
Total advances stood at ₹2.17 trillion as of September 30, 2024, BoM said in a regulatory filing on Monday
 "Bank of Maharashtra logs 16.8% credit growth at ₹2.54 trillion in Q2")