Page 2016 - Company News

Ultratech in talks with rival cement firms, PEs on asset divestiture plans

India's largest firm in the sector seeks more time from Switzerland's Holcim to make a bid for Ultratech and ACC.

Mercedes-Benz logs record sales in India, sees luxury car market reviving

Company says spike in order is driven by the new C-Class model that starts at Rs 55 lakh (ex-showroom).

Poonawalla Fincorp's logs Q4 consolidated net profit of Rs 119 cr

The company's housing finance subsidiary proposes to raise growth capital

Ford drops plan to manufacture EVs in India; opts out of PLI scheme

At that time, the company said it was exploring the possibility of using one of its plants in India to produce electric cars for exports

L&T Q4 net increases 10% to Rs 3,621 cr, firm declares dividend of Rs 22

L&T admitted that volatility in the price of crude oil and other commodities owing to geopolitical uncertainties was pushing up input prices

Salary hikes at companies inching closer to pre-Covid levels: Report

E-commerce and tech start-ups, healthcare, and allied industries plan salary hikes of more than 10 per cent.

Airtel 'very strong' and 'battle hardened' after crises: Sunil Mittal

Company's digital revenue should be more than a billion dollars in the next few years, says group chairman

India tax authorities froze $478 million of Xiaomi funds in Feb: Report

The fund freeze by tax authorities comes on top of another legal tussle Chinese smartphone giant Xiaomi faces.

Byju's in talks with lenders for $1 billion to fund acquisition plans

The Bangalore-based market leader is in talks with banks, including Morgan Stanley and JPMorgan Chase & Co., for the funding to acquire another edtech company, people familiar with the matter said

Consumer durables to see 3%-5% price hikes amid costlier imports: Industry

The depreciating Indian rupee against the US dollar has put woes on manufacturers as imported components have become costlier, with the industry largely being dependent on imports for key components

Govt's dues conversion into 33% stake to be completed in coming weeks: VIL

Debt-ridden telecom operator Vodafone Idea expects the government to complete conversion of around Rs 16,100 crore dues into 33 per cent stake in the company in the coming weeks, a top official said

Patna HC asks Sahara chief Subroto Roy to appear before court on Friday

The Patna High Court on Thursday took a tough stand against Sahara India chief Subroto Roy after he did not appear before the court.

Skanda Aerospace Technology first private firm to build helicopter gears

SATPL is a joint venture (JV) between the Hyderabad-based Raghu Vamsi Machine Tools (RMVT) and Texas-based Rave Gears LLC

Apollo Tyres Q4 profit drops 61% to Rs 113 cr; revenue rises 11%

Apollo Tyres on Thursday said its consolidated net profit has declined by 61 per cent to Rs 113 crore for the fourth quarter ended March.

Aided by IPL, Disney+ Hotstar adds over 4 mn subscribers in March quarter

Rival Netflix loses 200,000 global subscribers in the period

Taking steps to address compliance issues: PTC CMD Rajib K Mishra

PTC in a statement on Thursday said a board meeting to declare the financial results would be called shortly

Tata Motors expects capex to increase to up to Rs 6,000 crore in FY23

The investments will be spread across the company's different verticals of commercial vehicles, passenger vehicles and electric vehicles, Group CFO P B Balaji said

RBI imposes Rs 2.97 million penalty on Unimoni Financial Services

A show-cause notice was issued to Unimoni Financial Services. The penalty was imposed after considering the company's response

Battle-hardened Bharti Airtel's future looks good now, says Sunil Mittal

With only "two-and-a-half players" left in the highly competitive domestic telecom sector, the future of battle hardened Bharti Airtel looks good now, its Chairman Sunil Mittal said on Thursday

Ujjivan Small Finance Bank's Q4 profit falls 7% to Rs 126.5 crore

Ujjivan Small Finance Bank (SFB) on Thursday reported a 7 per cent decline in its net profit to Rs 126.5 crore for the last quarter of the fiscal ended in March 2022