Page 1884 - Company News

Zomato targets breakeven by Q2 FY24, lowers investment guidance to $320 mn

Zomato Ltd is targetting to achieve the breakeven level in overall business between the 4th quarter of this fiscal and the 2nd quarter of FY24 having cut losses gradually, according to company CFO.

IT industry's 'people' conundrum may delay its revenue growth targets

The current talent crisis may delay the industry's efforts to move up the value chain by delinking headcount and revenue streams

Bank of Baroda to increase MCLR rates by up to 0.2% from August 12

The interest rate hike comes after the Reserve Bank of India's (RBI's) six-member monetary policy committee (MPC) raised the benchmark repo rate by another 50 bps to 5.40 per cent last week

Indiabulls Housing's net profit rises marginally to Rs 287 cr in Q1FY23

Indiabulls Housing Finance Ltd has reported 1.8 per cent year-on-year rise in its net profit to Rs 287 crore in first quarter of the current financial year

Three bidders submit resolution plans for bankrupt Srei Group firms

According to sources, Arena Investors LP and VFSI Holdings, an affiliate of Varde Partners, were among those who submitted plans

Price freeze on petrol, diesel, LPG to hit profitability of OMCs: Fitch

The three state-owned fuel retailers haven't changed auto fuel prices for over four months now to help the government contain runaway inflation

Pfizer's managing director S Sridhar to take an early retirement

Over the past 14 years, Sridhar has led a number of key leadership positions in Pfizer, including serving as the Chief Financial Officer for a period of eight years

New credit rating rules could see 100 Indian ICRA-rated firms downgraded

The companies likely to be affected are mostly in the power, healthcare, engineering, construction and roads sectors

DoT invites application from firms looking to set up pvt telecom network

The government had issued the 'guidelines for Captive Non-Public Network (CNPN) licence' on June 27 with an aim to establish the legal framework for CNPNs

Mobile operators and device manufacturers clash over SIM shortage

Operators want eSIMS to be made mandatory while phone makers say this will push up costs

AirAsia India, Vistara FY22 losses widen on rise in costs, pandemic impact

AirAsia India has been shrinking its operations and operates only 27 aircraft

Eicher Motors net profit in Q1 surges 158% to Rs 611 crore on higher sales

Royal Enfield sold 186,032 motorcycles during the quarter, posting an increase of 52 per cent from 122,170 motorcycles sold over the same period in FY22

Prep for funding winter: SoftBank warns its portfolio firms of cost cutting

Japanese tech investor asks portfolio firms to conserve cash reserves for 12-24 months

Plutus Wealth Management buys Zensar Technologies shares worth Rs 167 crore

Investment firm Plutus Wealth Management on Wednesday bought shares of IT company Zensar Technologies Ltd for Rs 167 crore through an open market transaction

Analysts bearish on Delhivery as volumes, integration costs weigh on Q1

Analysts, which expect improvement in the second half, are currently bearish on the stock

Most Snapdragon 5G platforms already available to Indian OEMs: Qualcomm

It is also working with OEMs to provide software upgrades to existing 5G phones powered by their chips to make them SA enabled

LIC cuts stake in M&M to 6.42% from 8.43%, garners Rs 2,222 crore

Life Insurance Corporation (LIC) on Wednesday said it has sold 2 per cent of its shareholding in automaker Mahindra & Mahindra for about Rs 2,222.49 crore

Biological E's Corbevax gets a boost, as govt allows mixing vaccines

Health ministry nod to the Biological E vaccine as 3rd dose after Covishield or Covaxin, CoWIN to be updated within a week

Govt to remove domestic fare caps imposed on airlines Aug 31 onwards

The fare caps were imposed on domestic airlines in 2020 during the pandemic

SaaS company CleverTap Raises $105 mn in funding round led by CDPQ

It runs a cloud service that helps digital brands to increase customer retention