Page 2044 - Company News
CIL's supply to power sector up 16% in Apr; to augment dispatches further
On an average, the PSU supplied 1.66 MT of coal per day to power utilities in April which increased to 1.73 MT during last week
 "CIL's supply to power sector up 16% in Apr; to augment dispatches further")
Log9 Materials joins Indeanta Ventures for rapid charging battery tech
The two partners have signed a memorandum of understanding for a long-term partnership, under which they will work together for the next 3 years to jointly deploy over 15,000 RapidEVs
 "Log9 Materials joins Indeanta Ventures for rapid charging battery tech")
Mahindra's sales jump 25% to 45,640 units in April, SUV segment grows 22%
The company said its exports last month stood at 2,703 units against 2,005 in the year-ago period.
 "Mahindra's sales jump 25% to 45,640 units in April, SUV segment grows 22%")
Royal Enfield sales rise 17% to 62,155 units in April, domestic up 10%
Mid-sized motorcycle maker Royal Enfield had reported sales of 53,298 units in the same month last year
 "Royal Enfield sales rise 17% to 62,155 units in April, domestic up 10%")
Ashok Leyland reports 42% rise in total commercial vehicle sales in April
The company had sold 8,340 units in the same month last year, Ashok Leyland said in a regulatory filing
 "Ashok Leyland reports 42% rise in total commercial vehicle sales in April")
Amazon ends 14 days of paid time-off for Covid-infected employees
Starting from Monday, Amazon will offer up to five days of "unpaid, excused leave", reports CNBC
 "Amazon ends 14 days of paid time-off for Covid-infected employees")
Bajaj Auto sales slip 20% to 310,774 units in April, domestic down by 24%
Commercial vehicle sales in the domestic market, however, grew by 13 per cent to 8,944 units compared to 7,901 units in the same month last year, Bajaj Auto said
 "Bajaj Auto sales slip 20% to 310,774 units in April, domestic down by 24%")
Wipro shares decline nearly 3% after Q4 earnings announcement
IT company Wipro on Friday posted a 4 per cent increase in its consolidated profit to Rs 3,092.5 crore in the fourth quarter ended March 31, 2022, on account of continued demand for IT services
 "Wipro shares decline nearly 3% after Q4 earnings announcement")
L&T Infotech and Mindtree merger to start on strong foundation: Analysts
L&T Infotech and Mindtree merger: Keeping in mind strong growth momentum, analysts tracking the sector were not too confident if this would be the right time to go in for a merger.
 "L&T Infotech and Mindtree merger to start on strong foundation: Analysts")
Wipro sees margin pressure over next few quarters as attrition rises
Wipro reported a near 4% year-on-year gain in consolidated net profit for the quarter ending March 31, while revenue rose 28.4%
 "Wipro sees margin pressure over next few quarters as attrition rises")
Securonix gets investments from Capital One, Wipro Ventures and others
Over the past 12 months, Securonix claims to have grown its SaaS (Software-as-a-Service) business by more than 100 per cent.
 "Securonix gets investments from Capital One, Wipro Ventures and others")
Resolution primary objective of IBC; but recovery important too: SBI MD
Financial and operational creditors owe money to companies facing insolvency proceedings and so recovery has to be an important factor while achieving resolution of stressed assets, he noted
 "Resolution primary objective of IBC; but recovery important too: SBI MD")
Indian Oil launches methanol-blended petrol on pilot basis in Assam
Union Minister of State for Petroleum and Natural Gas Rameswar Teli launched the M15 petrol in the presence of Niti Aayog member VK Saraswat and IOC chairman SM Vaidya on Saturday.
 "Indian Oil launches methanol-blended petrol on pilot basis in Assam")
Holcim likely to seek exemption under India-Mauritius tax agreement
The India-Mauritius treaty was designed to attract foreign investments in the early 1990s when India's foreign exchange reserves were alarmingly low
 "Holcim likely to seek exemption under India-Mauritius tax agreement")
Edelweiss ARC plans to deploy Rs 1,200 crore to acquire bad loans
With improving business environment, it has pegged recoveries to between Rs 5,000 crore and Rs 6,000 crore in FY23. Its assets under management (AUM) stood at Rs 40,251 crore at the end of March 2022
 "Edelweiss ARC plans to deploy Rs 1,200 crore to acquire bad loans")
Auto industry fails to pick up pace as chip shortage hurts production
Fresh chip scarcity may result in 4th straight year contraction in volumes
 "Auto industry fails to pick up pace as chip shortage hurts production")
Macrotech in talks with investors for industrial park funding platform
Macrotech Developers, one of the leading real estate developers in the country, got listed last year by raising Rs 2,500 crore through its Initial Public Offer (IPO).
 "Macrotech in talks with investors for industrial park funding platform")
E-scooter sales slow down as global chip shortage woes continue
The largest drop has been in Hero Electric, one of the largest players in the market
 "E-scooter sales slow down as global chip shortage woes continue")
Bodhi Tree to invest Rs 4,500cr in ALLEN, build biggest Indian test-prep co
Deal likely to close in three months
 "Bodhi Tree to invest Rs 4,500cr in ALLEN, build biggest Indian test-prep co")
Vistara's enrolment in Tata Neu will take time, says CCO Deepak Rajawat
Tata Neu, which was launched on April 7, gives loyalty points "Neu" to its customers for every purchase done on the app
 "Vistara's enrolment in Tata Neu will take time, says CCO Deepak Rajawat")