Page 1997 - Company News
Cargo handling by Essar Vizag port up by 10% YoY to 1.3 mn tonnes in Apr
Surge in traffic marks the uptick in Indian steel sector, a major contributor to India's manufacturing output
 "Cargo handling by Essar Vizag port up by 10% YoY to 1.3 mn tonnes in Apr")
Zoomcar expects to achieve profitability in India by this year-end
Car sharing platform Zoomcar said it expects to achieve profitability in India by this calendar year-end, on the back of strong organic growth
 "Zoomcar expects to achieve profitability in India by this year-end")
India's core sector output expands at six-month high of 8.4% in April
The output of eight infrastructure sectors of coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity had expanded by 4.9 per cent in March 2022.
 "India's core sector output expands at six-month high of 8.4% in April")
Determination of LIC's embedded value likely to be completed by June 30: MD
The Embedded Value (EV) is a measure of the consolidated value of shareholders' interest in the life insurance business.
 "Determination of LIC's embedded value likely to be completed by June 30: MD")
Registration of properties in Mumbai city up 78% in May at 9,523 units
Shishir Baijal, Chairman & Managing Director, Knight Frank India said the real estate market in Mumbai held steady despite the pressures of inflation, rising input costs and rise in stamp duty.
 "Registration of properties in Mumbai city up 78% in May at 9,523 units")
LIC shares decline over 3% to hit record low after Q4 net slips 18%
Shares of LIC on Tuesday declined over 3 per cent after the company posted a 17 per cent decline in consolidated net profit for the fourth quarter ended in March 2022.
 "LIC shares decline over 3% to hit record low after Q4 net slips 18%")
Flipkart clocks over 200 mn fashion products in Spring-Summer of 2022
Season saw a resurgence in consumption on renewed economic recovery post-pandemic
 "Flipkart clocks over 200 mn fashion products in Spring-Summer of 2022")
Apple may not announce its mixed reality headset at WWDC this year
In a series of tweets, Apple analyst Ming-Chi Kuo mentioned that he expects the tech giant's headset to launch in 2023.
 "Apple may not announce its mixed reality headset at WWDC this year")
Mandatory 6 airbags to hit small car market adversely, says Maruti
The auto major noted that the regulation would largely impact the cost-sensitive entry-level car segment -- which has been facing headwinds and witnessing dwindling sales over the last three years
 "Mandatory 6 airbags to hit small car market adversely, says Maruti")
Mensa Brands is profitable with net revenue run rate of Rs 1,500 cr
The Ananth Narayanan-led firm achieved this in the first 12 months of operations and it has plans to hire 700 employees in 2022
 "Mensa Brands is profitable with net revenue run rate of Rs 1,500 cr")
ITC Infotech eyes $500 mn revenue over five years from new business unit
Last month, ITC Infotech said it would be acquiring a part of PTC's product lifecycle management (PLM) implementation services business and create a new business unit, DxP Services
 "ITC Infotech eyes $500 mn revenue over five years from new business unit")
Kinara Capital plans to add 700 employees by November
Kinara Capital, a fintech company serving Micro, Small and Medium Enterprises (MSMEs), said it plans to add 700 employees across its 125 branches and Bengaluru head office within the next six months
 "Kinara Capital plans to add 700 employees by November")
Japan's Chubu Electric to buy 20% stake in India's OMC Power for $39 mn
Japan's Chubu Electric Power Co Inc said it will spend up to 5 billion yen ($39 million) to buy a 20% stake in India's rural renewable energy service company, OMC Power Private Ltd
 "Japan's Chubu Electric to buy 20% stake in India's OMC Power for $39 mn")
Ingka-owned IKEA India to launch first store in Bengaluru on June 22
IKEA India (part of the Ingka Group), Swedish home furnishings retailer, said it will launch its first store in the city, on June 22
 "Ingka-owned IKEA India to launch first store in Bengaluru on June 22")
Nearly half of insolvency proceedings led to liquidation rather than rescue
IBBI latest data suggest only 14 per cent yielded resolution plans since the inception of IBC
 "Nearly half of insolvency proceedings led to liquidation rather than rescue")
StrideOne raises Rs 250 cr to help startups meet financing needs
Financial services platform for startups StrideOne on Tuesday said it has raised Rs 250 crore via a mix of equity (led by Elevar Equity) and debt from banks.
 "StrideOne raises Rs 250 cr to help startups meet financing needs")
TechEagle collabs with India Post to deliver mail through drone in Gujarat
Gurugram-based startup TechEagle said its drone has successfully delivered a mail in Gujarat under a pilot project in collaboration with India Post
 "TechEagle collabs with India Post to deliver mail through drone in Gujarat")
Attero to spend $1 billlion over 5 years on battery recycling plants
With the $1 billion investment, Attero is seeking to recycle over 300,000 metric tons of lithium-ion battery waste annually by 2027
 "Attero to spend $1 billlion over 5 years on battery recycling plants")
Uber Eats-Amita Gupta case calls for gig worker law reform: Study
The sacking of Indian-origin Amita Gupta by Uber Eats for allegedly arriving 10 minutes late for a delivery has highlighted the need to provide basic employment rights to gig workers, a new study said
 "Uber Eats-Amita Gupta case calls for gig worker law reform: Study")
Flipkart promotes several leaders as it gears up for IPO and US listing
These leaders have been instrumental in delivering impact and creating long-term value for the e-commerce giant