Page 2030 - Company News
Top headlines: MS cuts India GDP forecasts; Novelis to invest $2.5 bn in US
Business Standard brings you the top news of the evening
 "Top headlines: MS cuts India GDP forecasts; Novelis to invest $2.5 bn in US")
PV dispatches dip 4% in April as supply challenges remain, says SIAM
Total passenger vehicle domestic wholesales stood at 251,581 units last month as compared to 261,633 units in April 2021
 "PV dispatches dip 4% in April as supply challenges remain, says SIAM")
WeWork takes 660,000 sq ft office space on lease in Noida to expand biz
We have given an entire office tower comprising 660,000 square feet, on 15 years lease to WeWork India, says Bhutani group CEO Ashish Bhutani
 "WeWork takes 660,000 sq ft office space on lease in Noida to expand biz")
Uber to hire 500 techies in India for Bengaluru, Hyderabad centres
Uber Technologies on Wednesday announced it will hire 500 employees for its India tech centres by the end of this year.
 "Uber to hire 500 techies in India for Bengaluru, Hyderabad centres")
Hiring boom begins in India as Covid infections decrease; economy reopens
India Inc will hire 5% more people in the April-June period compared to the Q1 this year, a new report showed, as Covid infections decrease amid reopening of industries across the spectrum
 "Hiring boom begins in India as Covid infections decrease; economy reopens")
"Conscious industry must think beyond its priorities": T V Narendran
India Inc must think outside the regime of incentives and subsidies and improve its competitiveness & productivity while ramping up R&D expenditure for being future ready, CII President T V Narendran
 "\"Conscious industry must think beyond its priorities\": T V Narendran")
Tyre makers' capital expenditure to rise to Rs 5,000 cr in FY23: CRISIL
The report is based on the analysis of the top six domestic tyre makers, who account for 80 per cent of the Rs 75,000 crore of the sector, CRISIL said
 "Tyre makers' capital expenditure to rise to Rs 5,000 cr in FY23: CRISIL")
Tata Motors expands EV range, launches Nexon EV MAX at Rs 17.74 lakh
The model produces 105 kW (143 PS) of power and delivers a torque of 250 Nm, resulting in 0 to 100 sprint times in under 9 seconds
 "Tata Motors expands EV range, launches Nexon EV MAX at Rs 17.74 lakh")
Netflix to stream ads in TV shows, movies this year amid slow user growth
The streaming giant Netflix saw its stock tumbling by 20 per cent after it reported a loss of 2 lakh paid subscribers in the first quarter of 2022 -- its first subscriber loss in over a decade
 "Netflix to stream ads in TV shows, movies this year amid slow user growth")
Alembic gets final USFDA nod for medication to treat bronchoconstriction
Arformoterol Tartrate inhalation solution is indicated for long-term, twice daily administration in the maintenance treatment of bronchoconstriction in patients with chronic obstructive pulmonary dise
 "Alembic gets final USFDA nod for medication to treat bronchoconstriction")
E-commerce enablement platform GoKwik raises $35 mn for expansion
E-commerce enablement platform GoKwik said it has raised $35 million led by Think Investments and RTP Global, and will use the funds to work on tech solutions for large marketplaces
 "E-commerce enablement platform GoKwik raises $35 mn for expansion")
Marks & Spencer Reliance India appoints Ritesh Mishra as Managing Director
Retailer Marks & Spencer India on Wednesday said Ritesh Mishra has been appointed as Managing Director for Marks & Spencer Reliance India Pvt Ltd
 "Marks & Spencer Reliance India appoints Ritesh Mishra as Managing Director")
Delhivery raises Rs 2,346 cr from anchor investors as IPO opens today
Delhivery's IPO size is Rs 5,235 crore, the second-biggest after LIC this year
 "Delhivery raises Rs 2,346 cr from anchor investors as IPO opens today")
Hero Electric partners ReadyAssist for service support to B2B customers
The two companies had earlier announced a collaboration for training and upskilling 20,000 mechanics in EV skill sets across the country
 "Hero Electric partners ReadyAssist for service support to B2B customers")
Edtech firm iNurture raises $15 mn from ADM Capital in debt and equity
Currently, the company has partnerships with over 30 university campuses across India, offering over 50 programmes on campus, and has more than 15,000 students enrolled in these programmes.
 "Edtech firm iNurture raises $15 mn from ADM Capital in debt and equity")
Swiggy scales down Supr Daily, temporarily suspends Swiggy Genie
The company in a blog stated that its restructuring Supr Daily and the services will be suspended in five cities, it also said that Swiggy Genie will be temporarily suspended in 3 cities.
 "Swiggy scales down Supr Daily, temporarily suspends Swiggy Genie")
Gujarat Gas Q4 consolidated net up 28% to Rs 444 crore, income up 36%
For whole of FY22, the firm's consolidated net profit rise by only 1% to Rs 1287.37 crore
 "Gujarat Gas Q4 consolidated net up 28% to Rs 444 crore, income up 36%")
Cipla Q4 PAT dips 12% to Rs 362 cr owing to Covid inventory impact
For the full fiscal, Cipla has posted a 4.7% jump in net profit to Rs 2,517 crore, revenue and Ebitda rose 13.6% and 6.4% respectively
 "Cipla Q4 PAT dips 12% to Rs 362 cr owing to Covid inventory impact")
Vodafone Idea's loss narrows to Rs 6,563 cr in Q4; ARPU improves
Vi registers 7.5% sequential growth in its ARPU at Rs 124 aided by tariff hike in November
 "Vodafone Idea's loss narrows to Rs 6,563 cr in Q4; ARPU improves")
From soaps to biscuits, price hikes by FMCG firms may not dim the pain
According to data by Bizom, mid-single-digits to double-digit price rises are being seen in all essential foods because of the increase in input, logistics, and packaging costs
 "From soaps to biscuits, price hikes by FMCG firms may not dim the pain")