Page 1879 - Company News
Razorpay acquires Ezetap for $200 mn; forays into offline payments
Ezetap serves 500,000 touchpoints, including the likes of Amazon and BigBasket, works closely with India's largest banks and it processes over $10 billion in annual transactions on its platform
 "Razorpay acquires Ezetap for $200 mn; forays into offline payments")
Focusing on non-motor, non-health space: Future Generali India Insurance MD
"There is a need to invest more in distribution, products, and marketing", said Rau
 "Focusing on non-motor, non-health space: Future Generali India Insurance MD")
Private good, public loss: PSEs have been losing mkt share to private peers
A Business Standard analysis of data in the CAG report shows the market share of the four insurers is eroding
 "Private good, public loss: PSEs have been losing mkt share to private peers")
Akasa Air has strong financials to place order for more planes: CEO
The Jhunjhunwala family holds stakes in the airline through three discretionary trusts
 "Akasa Air has strong financials to place order for more planes: CEO")
Specialty drugs may push Sun Pharma's US biz beyond $2 bn by 2025
The share of specialty medicines in overall pharmaceutical spending has been consistently increasing over the past decade, from 22 per cent in 2011 to 39 per cent in 2021
 "Specialty drugs may push Sun Pharma's US biz beyond $2 bn by 2025")
Apollo Tyres' grip remains strong in Q1 on easing commodity prices
Near term volume outlook is muted, though, given seasonality and macro EU concerns
 "Apollo Tyres' grip remains strong in Q1 on easing commodity prices")
More steam left in Bajaj Finance stock's rally, 20% uptick likely: Analysts
Lender could clock 40% annual profit growth between FY22-24
 "More steam left in Bajaj Finance stock's rally, 20% uptick likely: Analysts")
Swiggy appoints Rohit Kapoor as CEO for its Food Marketplace business
With over 20 years of industry experience, Kapoor has held various leadership positions in sales and finance roles in leading companies such as Max India Limited and Mckinsey & Company
 "Swiggy appoints Rohit Kapoor as CEO for its Food Marketplace business")
Investment firm Stride Ventures closes second India fund at $200 mn
Stride Ventures, announced the close of its second India fund at $200 million for investments in consumer, financial technology, agriculture technology, B2B commerce and other sectors.
 "Investment firm Stride Ventures closes second India fund at $200 mn")
E-commerce solution provider Graas raises $40mn in funding round
Graas, a solution provider the for e-commerce industry, said on Wednesday that it has raised more than $40 million in the first close of a funding round.
 "E-commerce solution provider Graas raises $40mn in funding round")
Adani group gets provisional approvals for renewable energy projects in SL
Adani Green Energy was issued provisional approvals for two wind power projects in northern province for an investment of over $ 500 million, Sri Lanka's Energy Minister Kanchana Wijesekara announced
 "Adani group gets provisional approvals for renewable energy projects in SL")
Retail businesses grew 18% in July as compared to pre-Covid level: Survey
In July 2022, growth in sales compared to the pre-pandemic period (July 2019) was noticeable across regions, with sales in eastern India growing to 25 per cent
 "Retail businesses grew 18% in July as compared to pre-Covid level: Survey")
Merchandise sales higher than pre-Covid level on Independence Day weekend
Infiniti Malls said both its malls witnessed a considerable increase in footfalls and sales compared to 2019
 "Merchandise sales higher than pre-Covid level on Independence Day weekend")
After Amazon, Flipkart fined for allowing sale of poor quality cookers
CCPA has directed Flipkart to recall all such 598 pressure cookers sold on its platform, reimburse their buyers, and submit a compliance report within 45 days
 "After Amazon, Flipkart fined for allowing sale of poor quality cookers")
Jio gained 4.2 million new users in June, Airtel added 0.79 million: Trai
In contrast, Airtel only added 0.79 million customers while Vodafone Idea continued its losing streak as it shed 1.8 million users
 "Jio gained 4.2 million new users in June, Airtel added 0.79 million: Trai")
Telcos pay Rs 17,873 crore as first instalment of 5G spectrum dues
Airtel makes advance payments for 4 years to free up capital
 "Telcos pay Rs 17,873 crore as first instalment of 5G spectrum dues")
Blackstone to sell Sona BLW's shares worth nearly Rs 4,000 cr on Thursday
About 13.6% stake in Sona BLW Precision Forgings is likely to be sold via block deals on Thursday
 "Blackstone to sell Sona BLW's shares worth nearly Rs 4,000 cr on Thursday")
RBL Bank offloads over 12% stake in Kilburn Engg since May for Rs 17 cr
The private sector lender had acquired 67,50,000 equity shares of Kilburn Engineering (Kilburn) under a debt recast plan.
 "RBL Bank offloads over 12% stake in Kilburn Engg since May for Rs 17 cr")
Unacademy founder Gaurav Munjal and Relevel deny report of layoffs
"No layoffs. We have moved some team members to other Businesses of the Group though. Team worked really really hard to ensure that we find a role for everyone," Munjal tweeted.
 "Unacademy founder Gaurav Munjal and Relevel deny report of layoffs")
Telecom user base grows to 1.17 bn with Jio taking lead in new addition
Jio's wireless subscriber base grew to 41.3 cr with net addition of 42.23 lakh customers. It was followed by Airtel whose subscriber base increased to 36.29 cr with net addition of 7.93 lakh customers
 "Telecom user base grows to 1.17 bn with Jio taking lead in new addition")