Page 1638 - Company News
CBI chargesheets CG Power, ex-promoter Thapar in Rs 2,435-cr fraud case
The CBI has filed a charge sheet against CG Power and Industrial Solutions and its former promoter Gautam Thapar in an alleged Rs 2435-crore bank fraud case that affected 12 banks, officials said
 "CBI chargesheets CG Power, ex-promoter Thapar in Rs 2,435-cr fraud case")
EU's privacy watchdog fines Meta $414 mn for ads based on online activity
EU's privacy watchdog tells firm it can't use its contracts with users to justify sending them such ads
 "EU's privacy watchdog fines Meta $414 mn for ads based on online activity")
LG Electronics announces appointment Hong Ju Jeon as MD for India business
South Korean consumer electronics major LG on Wednesday announced the appointment of Hong Ju Jeon as the Managing Director of its India business
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Retail giant Walmart gets $1-billion tax bill for PhonePe shift to India
The bill stems from the relocation and rise in value of PhonePe Pvt, which Walmart took majority ownership of after acquiring parent outfit Flipkart Online Services Pvt
 "Retail giant Walmart gets $1-billion tax bill for PhonePe shift to India")
Indus Towers appoints Prachur Sah as MD & CEO, to suceed Bimal Dayal
Telecom infrastructure company Indus Towers on Wednesday said it has appointed Prachur Sah as managing director and chief executive officer of the company with effect from January 3, 2023
 "Indus Towers appoints Prachur Sah as MD & CEO, to suceed Bimal Dayal")
Switch Mobility, 2 others bag $362-million e-bus contracts by CESL: Repor
A senior CESL official, who did not want to be named, said the exact quantities being awarded to the three companies would be known by Friday
 "Switch Mobility, 2 others bag $362-million e-bus contracts by CESL: Repor")
98% of e-commerce companies looking forward to hiring in Q4FY23: TeamLease
Recruitment activity to go beyond blue- and white-collar staff, will embrace apprentices as well
 "98% of e-commerce companies looking forward to hiring in Q4FY23: TeamLease")
Housing, infra push drives industrial majors into Rs 60,000 cr paints biz
JK Cement latest entrant after JSW, Grasim, Astral Pipes and B2B marketplace Infra.Market; move aimed at driving synergies, leveraging distribution network, say experts
 "Housing, infra push drives industrial majors into Rs 60,000 cr paints biz")
FMCG cos expect fewer price hikes, robust growth in 2023 despite headwinds
Industry strong enough to withstand another Covid hot for at least two quarters; global recession to have little impact; rural demand remains a concern
 "FMCG cos expect fewer price hikes, robust growth in 2023 despite headwinds")
Shapoorji Pallonji's housing platform to invest Rs 750 cr on new project
The company will develop nearly 1,350 housing units, including duplexes and penthouses, in this new 9-acre project with an estimated sales revenue of over Rs 1,000 crore
 "Shapoorji Pallonji's housing platform to invest Rs 750 cr on new project")
CESL accelerates on the green track, opens bids for 6,465 electric buses
The subsidiary of a joint venture owned by four public sector power companies is moving rapidly to enable the creation of a transport ecosystem based on renewable energy
 "CESL accelerates on the green track, opens bids for 6,465 electric buses")
Microsoft, NIELIT team up to train youth in cybersecurity skills for jobs
The global cybersecurity skills gap and the lack of diversity in the workforce are among the urgent issues facing the digital economy
 "Microsoft, NIELIT team up to train youth in cybersecurity skills for jobs")
Delhi HC restrains firm from using Swiss Military symbol in trademark case
The court also cited the Daboutt's division bench's judgment in Shree Nath vs Allied Blenders and Distillers Pvt. Ltd where the wonderment principle was elaborated
 "Delhi HC restrains firm from using Swiss Military symbol in trademark case")
Nexus Venture to raise $700 mn fund to bet on domestic, US tech startups
Nexus will invest the new funds in early stage funding rounds of Indian internet and technology startups, as well as U.S.-based software firms
 "Nexus Venture to raise $700 mn fund to bet on domestic, US tech startups")
Global macro headwinds may moderate growth for Indian IT industry: Icra
The industry is also grappling with a surge in employee attrition in recent times, led by the demand-supply gap, especially for digital tech talent
 "Global macro headwinds may moderate growth for Indian IT industry: Icra")
Byju's founder raising funds to buy back as much as 15% of firm: Report
Raveendran is in the midst of overhauling the company's strategy and cutting marketing spend with a goal to be profitable by March
 "Byju's founder raising funds to buy back as much as 15% of firm: Report")
Govt sticks to demand for increased share in Barmer oil & gas block
The SC has been hearing a dispute between Vedanta and the federal government related to an extension of the production-sharing contract for the Barmer asset in the western state of Rajasthan
 "Govt sticks to demand for increased share in Barmer oil & gas block")
Indian tyre industry to scale turnover of Rs 1 trn in next 3 years: ATMA
Demand is expected to grow stronger in view of an uptick in economic activities and the big push envisaged for infrastructure growth
 "Indian tyre industry to scale turnover of Rs 1 trn in next 3 years: ATMA")
Honda Motorcycle & Scooter India sales up 11% at 233,151 units in Dec 2022
The company had registered domestic sales of 2,10,638 units in the year-ago period, Honda Motorcycle & Scooter India (HMSI) said in a statement
 "Honda Motorcycle & Scooter India sales up 11% at 233,151 units in Dec 2022")
Adani Group plans to roll out 5G services, consumer apps this year
The plan for B2C (business-to-consumer) apps for consumers comes as an unexpected move by the company
 "Adani Group plans to roll out 5G services, consumer apps this year")