Page 1961 - Company News
Sundram Fasteners says it will invest around Rs 400 cr in next 2 years
Government's production linked incentive scheme will be good for the automotive sector, says firm
 "Sundram Fasteners says it will invest around Rs 400 cr in next 2 years")
Murugappa Group posts 23% rise in net profit in FY22, manufacturing grows
Murugappa Group's turnover increased by 31 per cent to Rs 54,722 crore, as against Rs 41,706 crore in 2020-21
 "Murugappa Group posts 23% rise in net profit in FY22, manufacturing grows")
Swiggy initiates ESOP liquidity worth $23 mn, all employees now eligible
Online food-delivery platform Swiggy on Thursday said its employees will have the option to receive liquidity of up to $23 million against their employee stock ownership plans (ESOPs).
 "Swiggy initiates ESOP liquidity worth $23 mn, all employees now eligible")
Telcos' 5G bids seen muted as private firms jostle for airwaves: Report
Top telecom giants have failed to lobby govt to stop private networks allocation that will let various enterprises to get airwaves without auction
 "Telcos' 5G bids seen muted as private firms jostle for airwaves: Report")
IOC to invest Rs 740 crore to raise Digboi refinery capacity in Assam
In a stock exchange filing, IOC said its board has approved raising of Digboi refinery capacity from 0.65 million tonnes per annum to 1 million tonnes
 "IOC to invest Rs 740 crore to raise Digboi refinery capacity in Assam")
ReNew partners with UNEP, SEWA to train 1,000 women salt-pan workers
Under 'Project Surya' initiative, women salt-pan workers, who work in the challenging and extreme temperatures at Rann of Kutch marshes, will be trained as solar panel and solar-pump technicians
 "ReNew partners with UNEP, SEWA to train 1,000 women salt-pan workers")
JB Chem gets board approval to acquire Dr Reddy's 4 brands for Rs 98 cr
JB Chemicals & Pharmaceuticals on Thursday said its board has approved a proposal to acquire four paediatric brands from Dr Reddy's Laboratories for about Rs 98 crore
 "JB Chem gets board approval to acquire Dr Reddy's 4 brands for Rs 98 cr")
Dr Reddy's settles patent litigation with Indivior, Aquestive Therapeutics
Dr Reddy's Laboratories on Thursday said it has settled patent litigation with Indivior Inc and Aquestive Therapeutics on a medication used to treat opioid dependence or addiction
 "Dr Reddy's settles patent litigation with Indivior, Aquestive Therapeutics")
Byju's lays off 500 employees as part of cost-cutting drive: Report
The latest development at Byju's comes as the Indian edtech market is shrinking with reopening of schools, colleges and physical tuition centres
 "Byju's lays off 500 employees as part of cost-cutting drive: Report")
Bosch India unveils first smart campus with capacity to house 10k experts
Inaugurating the Bosch Smart Campus, Prime Minister Narendra Modi said that this campus will take lead in developing futuristic products and solutions for India and for the world
 "Bosch India unveils first smart campus with capacity to house 10k experts")
Global investors led by Arpwood buy majority stake in Sterling Hospitals
According to Arpwood Partners, the consortium will now invest in high-calibre clinical talent, infrastructure upgrade and patient service experience, and deliver quality medical care to patients
 "Global investors led by Arpwood buy majority stake in Sterling Hospitals")
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")