Page 1955 - Company News
How Mukesh Ambani will divide his business empire to avoid dad's folly
Ambani's first-born, Akash, 30, will succeed him as chairman at India's No.1 wireless carrier Reliance Jio Infocomm Ltd
 "How Mukesh Ambani will divide his business empire to avoid dad's folly")
Byju's lays off 500 and may drop more people in latest edtech crisis
Recently, over 800 employees of WhiteHat Jr, resigned after being asked to work from office
 "Byju's lays off 500 and may drop more people in latest edtech crisis")
Lenders get 57% dues from Imagicaa debt recast, Malpani picks 66.25% stake
Malpani Group acquired the stake by way of preferential allotment of equity shares worth Rs 415 crore.
 "Lenders get 57% dues from Imagicaa debt recast, Malpani picks 66.25% stake")
NMDC shareholders, creditors approve Nagarnar Steel Plant demerger: CMD
The demerger of NSP from NMDC is progressing, Mr Deb who was in the national capital, said
 "NMDC shareholders, creditors approve Nagarnar Steel Plant demerger: CMD")
Tech Mahindra CEO C P Gurnani's pay rises 189% to Rs 63.4 cr in FY22
Tech Mahindra managing director and chief executive CP Gurnani's remuneration for FY22 jumped 189 per cent to Rs 63.4 crore, the fifth-largest IT exporter said on Wednesday.
 "Tech Mahindra CEO C P Gurnani's pay rises 189% to Rs 63.4 cr in FY22")
HDFC raises Rs 4,000 cr via 21-month paper, attracts bids of over Rs 70K cr
Companies, including HDFC, Tata Capital Financial Services, LIC Housing Finance and Haldia Petrochem raised over Rs 6,000 crore on Wednesday
 "HDFC raises Rs 4,000 cr via 21-month paper, attracts bids of over Rs 70K cr")
Big agrochem firms may use drones for chemical spraying this kharif season
Industry sources estimate that drones could be used for spraying pesticides and other plant chemicals in around 30,000 acres this kharif season largely as pilot projects
 "Big agrochem firms may use drones for chemical spraying this kharif season")
Determining of embedded value likely to be completed by July 15: LIC
It is informed that the exercise of determining the Indian Embedded Value (IEV) as on March 31, 2022, may take some more time to get completed, LIC said in a statement.
 "Determining of embedded value likely to be completed by July 15: LIC")
Actis launches power biz after buying 49% stake in Shapoorji Pallonji unit
Actis announced Bridgin Power following its acquisition of a 49 per cent stake in the Shapoorji Pallonji group's 220-MW combined cycle gas turbine power plant in Bhola region of Bangladesh
 "Actis launches power biz after buying 49% stake in Shapoorji Pallonji unit")
Eveready set to transform with growth & governance-driven roadmap, says MD
The company has chalked out improvement plans for each of its business categories and separate business unit teams are working on the plans
 "Eveready set to transform with growth & governance-driven roadmap, says MD")
Asian Paints sees scope to reinvent amid continuing global uncertainties
Chairman Deepak Satwalekar tells investors at AGM that the firm's network penetration and brand strength saw its decorative business deliver 31% growth by volume and 36% by value in FY22
 "Asian Paints sees scope to reinvent amid continuing global uncertainties")
Reliance stock gains as Akash takes driver's seat at Jio, brokerages upbeat
Succession plan triggered upgrades from brokerages
 "Reliance stock gains as Akash takes driver's seat at Jio, brokerages upbeat")
Byju's offers to buy US-listed edtech firm 2U for over $1 billion
Byju's made the offer of about $15 a share to 2U's board last week, said the person, who asked not to be named as the bid isn't yet public
 "Byju's offers to buy US-listed edtech firm 2U for over $1 billion")
Market may be pricing in negatives for cement sector as demand stays flat
One key question is, has the market already discounted the negatives and is there too much pessimism about the sector?
 "Market may be pricing in negatives for cement sector as demand stays flat")
Family first or business first: Leadership succession in Indian businesses
The Ambani family history has proven the significance of systematic succession management while the leader is still around and active
 "Family first or business first: Leadership succession in Indian businesses")
From Jio to TVS, generational change sweeps through India Inc's boardrooms
From rotating chairmanship to handing over firm to professionals, top family businesses have tried different formulae to ensure smooth transition
Byju's group firm Toppr lays off 1,100 employees in a day to cut costs
Toppr's sacked employees said that they got a call from the company on Monday and were asked to resign, failing which they will be terminated without any notice period.
 "Byju's group firm Toppr lays off 1,100 employees in a day to cut costs")
JSW Steel earmarks Rs 10,000 cr for carbon emission reduction initiatives
Group chairman Sajjan Jindal said that the company has contracted for about 1 GW of renewable energy, of which 225 MW became operational in April 2022, and the balance will come on stream in phases.
 "JSW Steel earmarks Rs 10,000 cr for carbon emission reduction initiatives")
BNCAP decoded: Why new car safety ratings are important for India
BNCAP is the India equivalent of the Global New Car Assessment Programme (GNCAP)
 "BNCAP decoded: Why new car safety ratings are important for India")
UltraTech Cement paying for Russian coal in Chinese yuan: Report
UltraTech importing from Russian producer SUEK, valued at 172.7 mn yuan; SUEK's Dubai unit facilitated trade from Russia's Vanino port; traders say other companies set to pay in yuan for Russian coal
 "UltraTech Cement paying for Russian coal in Chinese yuan: Report")