Page 1758 - Company News
Kinara Capital closes Rs 200 crore in fresh equity round, led by BII
Kinara Capital, a fintech company serving small business entrepreneurs, on Friday announced closing a fresh equity round of approximately Rs 200 crore led by British International Investment
 "Kinara Capital closes Rs 200 crore in fresh equity round, led by BII")
Foxconn's China iPhone factory in disarray due to Covid outbreak: Report
Foxconn's factory in Zhengzhou in central China is the world's largest assembly plant for Apple's iPhones
 "Foxconn's China iPhone factory in disarray due to Covid outbreak: Report")
Xiaomi sells six million devices across categories in festive sales
The sale was carried on both online and offline and was twice as much as achieved last year
 "Xiaomi sells six million devices across categories in festive sales")
Intel set to lay-off employees as it cuts billions of dollars in spending
Chip-maker Intel will begin to lay off workers soon as the company plans to drive nearly $3 bn in annual savings in the near term and $8 bn to $10 bn by the end of 2025
 "Intel set to lay-off employees as it cuts billions of dollars in spending")
Infy declares interim dividend; UK PM's wife Akshata to get Rs 64.27 cr
Software giant Infosys declared an interim dividend of Rs 16.50 per equity share for shareholders for 2022-23, while Akshata Murthy, wife of UK PM Rishi Sunak, will get a dividend of Rs 64.27 crore.
 "Infy declares interim dividend; UK PM's wife Akshata to get Rs 64.27 cr")
Audio gear, wearable tech firm boAt raises $60 mn, defers IPO plan
Funding will be used for the company's plans to the lead smartwatch category, strengthen role in audio
 "Audio gear, wearable tech firm boAt raises $60 mn, defers IPO plan")
CK Birla Group eyes over 100 fertility clinics in three to four years
India is home to 28 million couples with fertility-related issues
 "CK Birla Group eyes over 100 fertility clinics in three to four years")
Vedanta arm wins 10-year production sharing contract for Rajasthan block
Cairn Oil & Gas recently won eight oil blocks and one coal-bed methane (CBM) block under the DSF Round III bids, taking the company's total assets in the country to 62
 "Vedanta arm wins 10-year production sharing contract for Rajasthan block")
IFCI raises Rs 100 crore via preferential allotment of shares to govt
Long-term infrastructure financier IFCI Ltd on Thursday raised Rs 100 crore through preferential allotment of shares to the government
 "IFCI raises Rs 100 crore via preferential allotment of shares to govt")
Apple's revenue, profit up despite slowing economy; not immune to recession
Apple managed to boost its sales, profit during summertime quarter that depressed fortunes of many major tech companies, but that doesn't necessarily mean it will be immune to a potential recession
 "Apple's revenue, profit up despite slowing economy; not immune to recession")
Market value up, but volumes declining in India: Unilever CEO Alan Jope
"We are confident of HUL's ability to continue to grow ahead of the market and we see that reflecting in very strong market share performance," Jope said
 "Market value up, but volumes declining in India: Unilever CEO Alan Jope")
Infibeam Avenues gets RBI in-principle nod for payment aggregator licence
The RBI allowed another window to PAs existing as of March 2020 to apply to the central bank for a license
 "Infibeam Avenues gets RBI in-principle nod for payment aggregator licence")
Govt target of 10K new 5G towers per week is far off, say industry sources
Industry executives say the availability of 5G radios, environmental conditions and approval process is dictating the pace.
 "Govt target of 10K new 5G towers per week is far off, say industry sources")
IndiGo asks MoCA to extend wet lease period for wide body aircraft
A wide body plane like B777 has a bigger fuel tank than narrow body aircraft like A320, which allows the former to traverse longer distances
 "IndiGo asks MoCA to extend wet lease period for wide body aircraft")
Kerala govt to meet Byju's executives on Nov 2 as 170 staff asked to resign
A meeting was called by the officials of the labour department on October 25, but the company did not appear for meeting
 "Kerala govt to meet Byju's executives on Nov 2 as 170 staff asked to resign")
Udaan raises $120 mn amid funding winter; plans IPO in 12-18 months
Business-to-business e-commerce firm raises capital from existing investor, was valued at $3.1 billion in January 2021
 "Udaan raises $120 mn amid funding winter; plans IPO in 12-18 months")
Meta fined $24.7 mn for violations of campaign finance disclosure
A Washington judge fined Meta nearly $25 million for repeatedly and intentionally violating campaign finance disclosure law, in what is believed to be largest campaign finance penalty in US history
 "Meta fined $24.7 mn for violations of campaign finance disclosure")
Jaypee Infra insolvency: Decks cleared for NARCL to buy first stress asset
Jaypee Infratech deal expected to close by early Nov
 "Jaypee Infra insolvency: Decks cleared for NARCL to buy first stress asset")
MSCI sets aside Piramal Pharma's exclusion from global standard index
The company was listed separately on October 19, following its demerger from Piramal Enterprises
 "MSCI sets aside Piramal Pharma's exclusion from global standard index")
JSW Steel: Lower costs, prices should boost margins in second half of FY23
Given fair value estimates of Rs 530 to Rs 610, investors need to be cautious about the company
 "JSW Steel: Lower costs, prices should boost margins in second half of FY23")