Page 1742 - Company News
Life insurers register 15% rise in new biz premium at Rs 24,916 cr in Oct
The rest 23 players in the private sector witnessed their combined new business premium increasing by 11 per cent to Rs 8,996.45 crore, as against Rs 8,105.46 crore in October 2021
 "Life insurers register 15% rise in new biz premium at Rs 24,916 cr in Oct")
IOL Chemicals gets EDQM certification to supply API in European markets
The company started production of Pantoprazole Sodium Sesquihydrate in Q3FY20 at its Punjab-based facility
 "IOL Chemicals gets EDQM certification to supply API in European markets")
Awfis aims to double revenue to Rs 600 cr in FY23; IPO by Dec next year
At present, Awfis has 150 centres across 17 cities, comprising about 90,000 desks. It offers a desk in a price range of Rs 7,000-20,000 per month
 "Awfis aims to double revenue to Rs 600 cr in FY23; IPO by Dec next year")
LIC buys additional stake in Voltas for Rs 635 cr via open mkt transactions
LIC said it acquired Voltas' shares worth Rs 634.50 crore through open market transactions during the period from August 10 to November 4, 2022
 "LIC buys additional stake in Voltas for Rs 635 cr via open mkt transactions")
Airtel CEO Gopal Vittal elected deputy chair of GSMA for two years
Member companies selected 26 board members for 2023-24 which include senior executives from mobile operators
 "Airtel CEO Gopal Vittal elected deputy chair of GSMA for two years")
Aditya Birla Group, Nippon Life in talks to merge Indian life insurance JVs
The talks were initiated after a court-appointed administrator of Reliance Capital put the 51% stake in Reliance Nippon Life on sale
 "Aditya Birla Group, Nippon Life in talks to merge Indian life insurance JVs")
GSMA appoints Airtel CEO Gopal Vittal as deputy chair for a two-year term
After graduating from IIM Calcutta in 1990, Vittal joined Hindustan Unilever Limited (HUL), one of India's biggest FMCG companies
Bombay Dyeing moves SAT against Sebi's Rs 2.25 cr fine, two-year market ban
Sebi had passed the order on the firm, its promoter Nusli N Wadia, and three others for allegedly inflating financial statements; firm responded saying its accounting practice was wrongly interpreted
 "Bombay Dyeing moves SAT against Sebi's Rs 2.25 cr fine, two-year market ban")
India set to witness multi-billion-dollar 5G roll-out by leading telcos
India has some 800 million mobile phone users and the number is growing, forming the base for the fast growing digital economy
 "India set to witness multi-billion-dollar 5G roll-out by leading telcos")
IndiGo's 30 aircraft grounded due to 'supply chain disruptions'
"We are bullish on the market opportunities and will continue to add flights in existing and new markets," the airline said
 "IndiGo's 30 aircraft grounded due to 'supply chain disruptions'")
L&T Realty, CapitaLand tie up to develop 6 mn sq ft of prime office space
L&T will build and develop the spaces, CLINT will market them; most of the projects are to be started from the second half of 2024
 "L&T Realty, CapitaLand tie up to develop 6 mn sq ft of prime office space")
D2C Ecommerce acquires leading natural personal care brand Luxura Sciences
D2C Ecommerce is India's first multi-D2C brand online platform that sells its own homegrown brands
 "D2C Ecommerce acquires leading natural personal care brand Luxura Sciences")
IPO-Bound CarDekho to infuse $100 million in its fintech subsidiary Rupyy
Rupyy recently unveiled India's largest QR code-based loan platform, which is available to more than 2,200 vehicle dealerships and distributors nationwide
 "IPO-Bound CarDekho to infuse $100 million in its fintech subsidiary Rupyy")
Investcorp plans major ramp up of India assets to $5 billion: Alardhi
The Middle East firm expects to reach $5 billion of assets in India in the next five years, up from just over $600 million currently, or 1.5% of the $42.7 billion in assets managed by Investcorp
 "Investcorp plans major ramp up of India assets to $5 billion: Alardhi")
CreditSights says Adani Group continues to seek strategic partners
Gautam Adani's conglomerate continues to seek strategic equity partners aligned with its long-term investment strategy as it expands across energy to transport to mining sectors, says CreditSights
 "CreditSights says Adani Group continues to seek strategic partners")
India Cements Q2 net loss at Rs 113 cr, revenue up 7.46 pc to Rs 1,327 cr
India Cements Ltd reported a consolidated net loss of Rs 113.26 crore for the second quarter ended September 2022
 "India Cements Q2 net loss at Rs 113 cr, revenue up 7.46 pc to Rs 1,327 cr")
Zydus gets establishment inspection report from USFDA for Moraiya plant
The USFDA issues an establishment inspection report (EIR) to an establishment that is the subject of an FDA or FDA-contracted inspection when the agency decides to close the inspection.
 "Zydus gets establishment inspection report from USFDA for Moraiya plant")
Vodafone may have to raise tariffs to meet a Rs 6,400 cr shortfall by Sept
Goldman Sachs said Vi would need a sharp capital raise or a tariff increase to remain competitive. It is the only telco which has not yet given a timeline to launch its 5G services
 "Vodafone may have to raise tariffs to meet a Rs 6,400 cr shortfall by Sept")
Google may face a third CCI fine in less than a month. Now for Android TV
Google has already been fined in previous two cases for "abusing its market dominant position" in connection with the Android mobile device ecosystem
 "Google may face a third CCI fine in less than a month. Now for Android TV")
Britannia Industries' shares jump nearly 10% after Q2 profit beat
Shares of India's Britannia Industries Ltd rose as much as 10% on Monday, after the Good Day and Tiger biscuits maker reported late Friday a 28.4% jump in second-quarter consolidated net profit
 "Britannia Industries' shares jump nearly 10% after Q2 profit beat")