Page 1959 - Company News
Mukesh Ambani resigns from board of Reliance Jio, son Akash made chairman
The announcement outlines a clear transfer of wealth by the 65-yr-old tycoon, who was embroiled in a bitter inheritance dispute with his younger brother after their father died in 2002 without a will
 "Mukesh Ambani resigns from board of Reliance Jio, son Akash made chairman")
Intel to scale up collision avoidance systems for road safety in India
The tech giant may partner with different companies and incubate start-ups to enhance vehicle safety
 "Intel to scale up collision avoidance systems for road safety in India")
Biocon Biologics bribery case: CBI moves HC challenging lower court verdict
The Delhi High Court has issued notices to the parties concerned and will hear the case on July 2
 "Biocon Biologics bribery case: CBI moves HC challenging lower court verdict")
Vedanta, 30 other companies submit bids in commercial coal mines auctions
The bids will be evaluated by a multi-disciplinary technical evaluation committee and the technically qualified bidders would be shortlisted for participation in the electronic auction
 "Vedanta, 30 other companies submit bids in commercial coal mines auctions")
Carlyle to acquire minority stake in Gujarat tile firm Varmora Granito
Indian company says it will use partnership for investments in brand building and, expanding distribution
 "Carlyle to acquire minority stake in Gujarat tile firm Varmora Granito")
Tata Steel to ramp up NINL operation to 1.1 MTPA within a year: Chairman
The ramping up of the operations of Neelachal Ispat Nigam Ltd (NINL) would be subject to obtaining statutory clearances.
 "Tata Steel to ramp up NINL operation to 1.1 MTPA within a year: Chairman")
Edible oil brand Gulab Oils eyes Rs 5,000 crore turnover in four years
Plans to enter ten states from four currently, expand capacity 10-fold to 1,000 tonnes a day and make additions to product portfolio
 "Edible oil brand Gulab Oils eyes Rs 5,000 crore turnover in four years")
Top headlines: Akash Ambani made Jio chairman; TaMo to raise prices of CVs
Business Standard brings you top news of the evening
 "Top headlines: Akash Ambani made Jio chairman; TaMo to raise prices of CVs")
Bajaj Consumer Care to expand Almond Drops portfolio, lines up new products
The firm, which on Tuesday launched a moisturising soap under the Bajaj Almond Drops umbrella, is looking to bring products in haircare and skincare under the brand.
 "Bajaj Consumer Care to expand Almond Drops portfolio, lines up new products")
DoT issues spectrum assignment norms for captive private network licences
The norms stipulate a minimum net worth of Rs 100 crore for applicants
 "DoT issues spectrum assignment norms for captive private network licences")
Reliance Jio partners with DigiBoxx to offer extra 10 GB cloud storage
In addition to the storage space of 20 GB available at present, Reliance Jio users can now have extra 10 GB space on DigiBoxx by signing up through the JioPhotos app
 "Reliance Jio partners with DigiBoxx to offer extra 10 GB cloud storage")
87% of Indian firms to hike their AI spend by 10% in 3 years: Report
Approximately 80 per cent of enterprises in the country have at least one AI model in production, indicating an extensive penetration of AI/machine learning (ML) across enterprises.
 "87% of Indian firms to hike their AI spend by 10% in 3 years: Report")
Vedanta Resources urges Zambia to halt search for new KCM investor
Zambia's previous government put KCM in the hands of a liquidator in May 2019, triggering the ongoing legal dispute with Vedanta Resources, KCM's parent company.
 "Vedanta Resources urges Zambia to halt search for new KCM investor")
Glenmark acquires Wockhardt's key OTC brands in US for undisclosed sum
Deal includes approved ANDAs for famotidine tablets, used in treatment and prevention of ulcers stomach and intestinal ulcers
 "Glenmark acquires Wockhardt's key OTC brands in US for undisclosed sum")
ONGC chopper carrying 9 makes emergency landing in Arabian Sea, 6 rescued
A helicopter carrying seven passengers and two pilots made an emergency landing in the Arabian Sea on Tuesday, near Oil and Natural Gas Corporation Limited (ONGC) rig Sagar Kiran in Mumbai High
 "ONGC chopper carrying 9 makes emergency landing in Arabian Sea, 6 rescued")
BYJU's rejigs global team as part of expansion plan as edtech space shrinks
Edtech major BYJU's on Tuesday named Krishna Vedati as President of Global Growth and Strategic Initiatives, along with rejigging top leadership at K-12 creative coding platform Tynker
 "BYJU's rejigs global team as part of expansion plan as edtech space shrinks")
ah! Ventures announces launch of angel fund with Rs 100 cr corpus
While the first close is expected within the next 60 days, the team's target is to be fully invested by the third year with potential winners
 "ah! Ventures announces launch of angel fund with Rs 100 cr corpus")
Low-profile billionaire philanthropist Pallonji Mistry passes away at 93
The chairman of the Shapoorji Pallonji Group, Mistry always kept a low profile and was often known as the "phantom of Bombay House" for his indirect influence over the Tata Group affairs
 "Low-profile billionaire philanthropist Pallonji Mistry passes away at 93")
HDFC Bank-backed Lentra acquires AI startup TheDataTeam for undisclosed sum
The deal involves the acquisition of the customer intelligence platform Cadenz
 "HDFC Bank-backed Lentra acquires AI startup TheDataTeam for undisclosed sum")
DHFL-Yes Bank case: ED takes Pune businessman Avinash Bhosle in custody
The Enforcement Directorate (ED) on Tuesday took Pune-based businessman Avinash Bhosale into custody from Arthur Road Jail in an alleged corruption case pertaining to Yes Bank and DHFL
 "DHFL-Yes Bank case: ED takes Pune businessman Avinash Bhosle in custody")