Page 1866 - Company News
Nandan Nilekani's Fundamentum raises $227 million in second fund
Fundamentum plans to fund enterprises that have attained product-market fit and developed momentum in their scale-up journey
 "Nandan Nilekani's Fundamentum raises $227 million in second fund")
Adani Power to acquire DB Power for enterprise value of Rs 7,017 crore
'Buy to help expand operations in thermal power sector in Chhattisgarh'
 "Adani Power to acquire DB Power for enterprise value of Rs 7,017 crore")
IT services companies' salary costs growing faster than revenues
The six IT services firms, on average, earned net sales of around Rs 38 lakh per employee in FY22, up from Rs 33.5 lakh in FY17 and Rs 37.3 lakh in FY20
 "IT services companies' salary costs growing faster than revenues")
Uni Cards suspends services days after RBI tightens digital lending norms
"This process will begin in phases for our customers starting today and will be concluded by Monday," the company stated
 "Uni Cards suspends services days after RBI tightens digital lending norms")
With Q2 history against them, cement stocks' valuations looks stretched
Most analysts have a 'sell' or 'reduce' recommendation on the sector
 "With Q2 history against them, cement stocks' valuations looks stretched")
US ranitidine litigation unlikely to impact Indian pharma: Analysts
Sun Pharmaceuticals, Dr Reddy's Laboratories, Perrigo and Teva have agreed to a combined settlement of $5 mn with cancer patient Joseph Bayer
 "US ranitidine litigation unlikely to impact Indian pharma: Analysts")
CDC Group sells 3.56% stake in IIFL Finance for Rs 453 cr via open market
According to the bulk deal data available with the National Stock Exchange (NSE), CDC Group Plc sold 1,35,01,587 shares of the company.
 "CDC Group sells 3.56% stake in IIFL Finance for Rs 453 cr via open market")
Paytm shareholders reaffirm faith in Vijay Shekhar Sharma's leadership
Paytm held its 22nd annual general meeting (AGM), the first such meeting after it became a listed company in 2021
 "Paytm shareholders reaffirm faith in Vijay Shekhar Sharma's leadership")
Govt amends rules for physical verification of cos' registered addresses
The government has amended rules to ensure a transparent process for the physical verification of companies' registered addresses, including by way of having the presence of independent witnesses
 "Govt amends rules for physical verification of cos' registered addresses")
Central Bank inks pacts with Protium Finance, lncred Fin to offer loans
State-owned Central Bank of India has forged co-lending partnerships with Protium Finance and lncred Financial Services to offer loans to MSME borrowers
 "Central Bank inks pacts with Protium Finance, lncred Fin to offer loans")
Input cost volatility to keep plastic pipe maker Astral's margins in check
Market share gain continues, company seeks to double consolidated revenues in five years
 "Input cost volatility to keep plastic pipe maker Astral's margins in check")
CAMS promoter entity pares 3.79% stake for Rs 428 crore in IT company
Computer Age Management Services Ltd (CAMS) promoter entity on Friday divested a 3.79 per cent stake in the IT services company, garnering Rs 428 crore through an open market transaction
 "CAMS promoter entity pares 3.79% stake for Rs 428 crore in IT company")
India's smartwatch market grows highest ever at 312%, Fire-Boltt leads
India's smartwatch market grew an impressive 312 per cent in the June quarter, and homegrown company Fire-Boltt led the market for the first time with a 28 per cent share, a new report said on Friday.
 "India's smartwatch market grows highest ever at 312%, Fire-Boltt leads")
HDFC Bank's new campaign 'Vigil Aunty' to help tackle cyber frauds
'Vigil Aunty' will create awareness via various social media platforms
 "HDFC Bank's new campaign 'Vigil Aunty' to help tackle cyber frauds")
Adani Power to acquire DB Power for Rs 7,017 crore enterprise value
DB Power has long- and medium-term power purchase agreements for 923.5 MW of its capacity, backed by fuel supply agreements with Coal India Ltd, and has been operating its facilities profitably
 "Adani Power to acquire DB Power for Rs 7,017 crore enterprise value")
Adani Group gets Sebi approval for $3.8 billion open offer for Ambuja, ACC
The group, led by Asia's richest person Gautam Adani, is set to make an offer to buy 26% of Ambuja Cements Ltd. for 385 rupees per share and the same stake for 2,300 rupees per share of ACC Ltd
 "Adani Group gets Sebi approval for $3.8 billion open offer for Ambuja, ACC")
India probes may adversely affect operating results or cash flows: Xiaomi
Chinese smartphone maker Xiaomi on Friday said the ongoing investigations and allegations in India could take a long period of time to settle that may adversely affect its operating results.
 "India probes may adversely affect operating results or cash flows: Xiaomi")
Insured assets worth Rs 150 cr affected in fire at Neemrana unit: Havells
For the financial year ended on March 31, 2022, Havells India's revenue was at Rs 13,888.53 crore
 "Insured assets worth Rs 150 cr affected in fire at Neemrana unit: Havells")
Nandan Nilekani and Sanjeev Aggarwal's VC firm Fundamentum raises $227 mn
Post the fund's initial investment, Fundamentum's portfolio companies have collectively raised over $1 billion in follow-on rounds
 "Nandan Nilekani and Sanjeev Aggarwal's VC firm Fundamentum raises $227 mn")
Ashok Leyland unveils new tipper for construction, mining segments
Hinduja group flagship Ashok Leyland has unveiled the AVTR 4825 tipper equipped with a H6 engine aimed at serving the construction and mining segments, the company said on Friday
 "Ashok Leyland unveils new tipper for construction, mining segments")