Page 1769 - Company News

Dhanlaxmi Bank's shareholders seek to curb CEO's spending powers

The shareholders seek to suspend powers exercised by CEO Shivan JK in respect of all capital and revenue expenditure, except statutory payments such as salaries and wages

IDBI Bank privatisation: LIC to recover its investment by time of sale

State-owned insurance behemoth LIC is expected to recover its Rs 21,624 crore investment in IDBI Bank as share prices are likely to rebound to 2019 levels by the time the lender is privatised

Cable manufacturer DCX Systems' Rs 500-cr IPO to open for 3 days on Oct 31

The Rs 500-crore initial share-sale of DCX Systems, manufacturer of cables and wire harness assemblies, will open for public subscription on October 31

Asian Paints announces Rs 2,400-cr capex plans for two manufacturing units

Asian Paints on Thursday announced Rs 2,100 crore of phased investment to set up a new plant to produce vinyl acetate ethylene emulsion (VAE) and vinyl acetate monomer (VAM) in the country

From layoffs to cost-cutting, start-ups brace for long funding winter

Favourite haunts of start-up community in Bengaluru and Gurugram reflect the sombre mood

Reliance Retail to mark entry in beauty and personal space market in Jan

The retailer is already in advanced stage talks to take over Sephora India rights from Arvind Fashions, which also gives it access into the premium beauty and personal care space offline

Suzlon Energy's Rs 1,200-crore rights issue oversubscribed by 1.8 times

Suzlon Energy on Thursday said that its Rs 1,200-crore rights issue has been subscribed by 1.8 times

Sachin Tendulkar partners with digital cricket NFT platform Rario

Digital cricket collectibles platform Rario on Thursday announced that it has partnered with former cricketer Sachin Tendulkar to enter the non-fungible token (NFT) market

CCI fines Google Rs 1,338 cr for anti-competitive practices

CCI also ordered Google not to offer any incentives to smartphone makers for exclusively carrying its search services

SII stopped Covishield production in Dec 2021, says CEO Adar Poonawalla

CEO of Serum Institute of India, Adar Poonawalla said the vaccine manufacturer stopped the production of Covishield vaccine starting December 2021 and around 100 million doses had already got expired

Walmart's PhonePe investing $200 mn to set up data centres in India

The Bengaluru-based firm is setting up data centres in India at a time when it has completed three steps to move its domicile to India

Asian Paints Q2 results: Net profit rises 31% to Rs 783 cr, sales up 18.8%

The initial capacity to be set up would be 265,000 tonnes per annum. In addition, clinker grinding would be set up in India as well

'Telcos may see steady Q2 as SUC saving aid margins; 5G updates key focus'

Market analysts will be keenly tuning in to management commentaries on pace of roll-out for next-generation services, capex outlook and markers on tariff hikes

Lupin inks pact to acquire two inhalation brands from Sunovion for $75 mn

The Mumbai-based firm expects the transaction to be accretive to earnings in the first year

Colgate-Palmolive's India arm beats Q3 earnings estimates on price hikes

Sales increased nearly 3% to Rs 13.78 billion

PhonePe investing $200 million on building data centres: Official

Walmart-owned payment services provider PhonePe on Thursday said it is investing $200 million (around Rs 1,661 crore) on building data centres in the country, a top official said on Thursday

Shoppers Stop posts net profit of Rs 18 cr in Q2; revenue jumps 59%

Shoppers Stop reported a 60% jump in its second-quarter revenue on rebounding demand for clothes and shoes even as its move to spend heavily on fresh stock ahead of the festive season pressured profit

Sebi clears govt proposal to turn Vodafone Idea dues into equity: Report

The govt's stake in Vodafone after the conversion could be more than 30%, says a govt official

Revfin raises $10 mn in series A funding from Green Frontier Capital

Revfin plans to use the funds to expand its geographical footprint to 25 states and capture over 10 per cent national market share of financed electric three-wheelers

Hitachi Energy to supply transformers for NTPC renewable energy park

The NTPC REL facility in Kutch produce electricity to support 8 million people