Page 2036 - Company News

SBI Card's net rises three-fold to Rs 581 cr, income up 22% to Rs 3,016 cr

The pure-play credit card issuer had reported a net profit of Rs 175.42 crore in the same quarter of the previous fiscal year

L&T Finance Holdings consolidated net up 28% to Rs 342 crore in Q4

For FY22, its consolidated net profit rose by 10% to Rs 1,070 crore; board has recommended a dividend of Rs 0.50 a share

IDBI Bank board approves appointment of two govt nominee directors

In late afternoon trade, shares of IDBI Bank was down 1.40 per cent to Rs 45.70 apiece on BSE.

IDBI Bank stake dilution for ceding mgt control to be fixed after roadshows

Lowering of stake by Centre and LIC to be decided post consultation with investors during roadshows, after which EoI document would be structured, says DIPAM Secy Tuhin Pandey

Wipro to stand by principle of democracy, justice: CEO amid Ukraine war

IT company Wipro said its employees are engaged in providing relief effort to people displaced due to the ongoing Ukraine-Russia conflict

CAIT seeks probe against Flipkart on purported role in narcotics trade

The seized drugs were kept in backpacks and jute bags and were wrapped in packets of e-commerce major Flipkart and other companies, according to reports

IndiaFirst Life gross premium rises 28% to Rs 5,187 crore in FY22

At Rs 1,345 crore of individual NB-APE, the company is the fastest-growing private life insurer in the country, IndiaFirst Life claimed

Shell agrees to buy Solenergi Power from UK-based Actis for $1.55 bn

Shell said its unit, Shell Overseas Investment, would buy 100% of Solenergi Power Private Limited, the flagship company of Sprng Energy group, from UK-based investor Actis

Tata Motors planning to launch long-range electric cars by 2050

Last year, Tata announced plans to launch 10 EV models by March 2026, investing about $2 billion

Chiratae Ventures plans to raise $600 million to bet on tech: Report

Chiratae has already invested $950 million in companies over the last 15 years

Back in black, GMDC plans lignite expansion, entry into rare earths

The mining company has roped in the Boston Consulting Group (BCG) for its strategic transformation, apart from McKinsey & Co. for the development of REE assets

Maruti Suzuki consolidated Q4 net up 58% to Rs 1,839 cr despite sales dip

Consolidated total revenue from operations up 11.29% at Rs 26,749.20 crore; Board declares final dividend of Rs 60 a share

Wipro Q4 consolidated net profit rises 4% to Rs 3,087 crore

Attrition rate at near 24%, revenue up over 28% to Rs 20,860 crore

JM Financial elevates Sonia Dasgupta as CEO of investment banking

She succeeds Adi Patel and Atul Mehra who have been Co-Heads of Investment Banking business till date

CCI seizes documents, data from Amazon, Flipkart sellers in raids: Report

The raids relate to an investigation the CCI ordered in January 2020 in which Amazon and Flipkart face allegations of promoting preferred sellers on their websites

Indian aviation in growth phase, to participate in larger manner: Scindia

Civil aviation minister Jyotiraditya Scindia has said the time is ripe for participation in the largest possible manner in the aviation sector

Vedanta plans to issue $1.5 billion dividend, lifting parent's bonds

The parent firm's dollar bonds rose the most in six weeks Friday, with the notes maturing in July hitting the highest level since October, according to Bloomberg-compiled data

Streaming wars: Netflix tries to beat the India blues as rivals race ahead

More Indian languages, bigger films and shows, and an ad-supported version are being rolled out as the global streaming service works to crack one of the world's fastest-growing streaming video market

Blockbuster M&As keep India's deal street buzzing despite market volatility

With deals crossing $105 bn in the first 4 months, experts believe 2022 could be a record year for M&As

Varroc signs Euro 600 mn deal with Omnium SE to focus on EV, other segments

The Euro 600 million transaction will see Varroc divesting its lighting System operations in the USA, Brazil, Mexico, Poland, Czech Republic, Germany, Turkey, and Morocco