Page 2046 - Company News

ED seizes assets worth Rs 5,551 cr, Xiaomi says it follows Indian laws

The technology giant is being questioned by the federal agency for alleged violation of foreign exchange laws.

IDFC First Bank net profit at Rs 342 crore surges 168% in March quarter

Bank says the economic impact of the coronavirus is diminishing to help its asset quality, lending

Vedanta says it's in talks to raise up to $3 bn debt in semiconductors push

The conglomerate is diversifying into chip manufacturing by forming a joint venture with Taiwan's Foxconn.

Global smartphone market shrinks 11% in Q1, China badly hit: Report

The Chinese market caused nearly half the worldwide decline, mainly due to seasonal weakness, according to market research firm Canalys

Khadi and Village Industries Commission clocks Rs 1.15 tn turnover in FY22

Last fiscal year, the overall turnover of KVIC stood at Rs 1,15,415.22 crore as compared to Rs 95,741.74 crore in 2020-21. KVIC has thus registered a growth of 20.54 per cent from 2020-21

Cochin Shipyard to build first indigenous hydrogen-fuelled electric vessels

Inaugurating a workshop on Green Shipping, Sarbananda Sonowal said the project will be carried out by the CSL in collaboration with Indian partners

LG India eyes 30% growth in home appliances business in 2022

According to Deepak Bansal, Vice President, Home Appliances and Air Conditioners, LG did a good business in 2021 and the company has logged turnover growth of more than 20 per cent

OMA cinemas of France announces India rollout plan with PVR cinemas

Oma Cinema was designed by renowned French architect Pierre Chican, who has designed some of France's most avant-garde cinemas over the last 30 years

The M&A wave: Is there a pattern to what looks like a spate of media deals?

Digital is forcing a fundamental change in how people consume media and in the very definition of a media company, say analysts

Toyota to increase Urban Cruiser, Glanza prices on high input costs

At present, the Urban Cruiser is priced between Rs 8.88-11.58 lakh while the Glanza is tagged at Rs 6.39-9.96 lakh (ex-showroom Delhi), depending on the variants.

Insurtech platform Turtlemint raises $120 million in Series E funding

The latest funding round has valued Turtlemint at more than $900 million.

NCLT admits petition for CIRP against EPC firm McNally Bharat Engineering

Williamson Magor Group, which owns the firm, confirmed the development but indicated that options for resolution were still being looked at

Global chip shortage: Hero Electric reports zero dispatches in April

The automotive industry is still struggling with international chip shortage leading to loss of production

EV fires: Boom Motors recalls Corbett bikes, stops production temporarily

Boom will be the fourth company to recall its E2W brands involved in fire incidents, after Okinawa, PureEV and Ola Electric

Varroc Engg to divest lighting biz in Americas and Europe to French firm

It has signed a Euro 600 million transaction with Compagnie Plastic Omnium

Maruti Suzuki to go aggressive to regain market share in SUV segment

Fourth-quarter profit zooms 58% on boost from price hikes

Tata Motors has global ambitions for electric vehicles: N Chandrasekaran

Tata Sons Chairman N Chandrasekaran stresses the automaker's global plans for its EVs over the next three years

UltraTech Cement logs 48% YoY growth in Q4 net to Rs 2,620 cr, sales up 9%

Ebitda declined 16% YoY to Rs 3,165 cr, while Ebitda margins stood at 19.5% in Q4 versus 25.6% last year, as energy costs swelled in the period under review

Shell to buy Actis-owned renewables firm Sprng Energy for $1.55 bn in India

Deal to help Shell triple its renewable energy capacity in operation

Wipro logs 3.8% rise in Q4 profit; pegs FY23 revenue growth at 16-18%

The company said it saw a drop of 500 bps in attrition on a quarterly basis