Page 2050 - Company News
IKEA is planning to raise local sourcing in India to 50%: Susanne Pulverer
Ikea also intends to add more stores in Mumbai as it calls out Maharashtra as an important market
 "IKEA is planning to raise local sourcing in India to 50%: Susanne Pulverer")
Vedanta seeks free land, power in race to be India's 1st chipmaker: Report
Vedanta has told state governments that its operations would help them generate $2.2 billion in tax revenues over 20 years and create up to 100,000 direct and indirect jobs, said the first source
 "Vedanta seeks free land, power in race to be India's 1st chipmaker: Report")
Biocon Q4 consolidated net profit declines by 4% to Rs 283 crore
Biocon's consolidated revenue from operations in the fourth quarter stood at Rs 2,408.8 crore as against Rs 1,842.1 crore in the year-ago period
 "Biocon Q4 consolidated net profit declines by 4% to Rs 283 crore")
BHEL-GE Power Conversion deal to make propulsion systems for Navy
The Indian Navy is considering building a second indigenous aircraft carrier to add to the combat capability
 "BHEL-GE Power Conversion deal to make propulsion systems for Navy")
IndiGo runs first trial flight using GAGAN satellite technology
The trials were carried out in the presence of the Directorate General of Civil Aviation (DGCA) officials at Kishangarh Airport near Ajmer with an ATR72 aircraft
 "IndiGo runs first trial flight using GAGAN satellite technology")
Tata Motors aims to build 80,000 EVs this financial year: Report
That compares with the 19,000 EVs it built and sold in the last financial year
 "Tata Motors aims to build 80,000 EVs this financial year: Report")
IndiGo pilots under scanner for using expletives on radio during flight
The Indigo pilots were expressing unhappiness over the airline's delay in restoring the pre-Covid salaries and vented ire on 121.5 MHz frequency.
 "IndiGo pilots under scanner for using expletives on radio during flight")
Pandemic lessons: Hotel brands, asset owners go for revenue sharing route
While IHCL has been at it for some years now, for Concept and Kamat Group, which have typically relied on management contracts, it's a first
 "Pandemic lessons: Hotel brands, asset owners go for revenue sharing route")
Flipkart unveils lab to tap Web3, metaverse for e-commerce innovations
Flipkart Labs will be based in Bengaluru and it will back in-house innovation by using emerging technologies, promoting ideas, and delivering "breakthrough solutions", it said
 "Flipkart unveils lab to tap Web3, metaverse for e-commerce innovations")
JioSaavn appoints former Amazon Music director Sahas Malhotra as CEO
Music app firm JioSaavn has appointed former Amazon Music director and entertainment industry veteran Sahas Malhotra as its new CEO.
 "JioSaavn appoints former Amazon Music director Sahas Malhotra as CEO")
IKEA India to increase local sourcing, says CEO Susanne Pulverer
Local sourcing through partnerships will make a positive impact on the economy and society not just in retail but also in all allied sectors and services, she said
 "IKEA India to increase local sourcing, says CEO Susanne Pulverer")
ReNew Power inks 5 PPAs to supply around 1500 MW solar energy
ReNew Power on Thursday said it has signed five power purchase agreements (PPAs) for the supply of around 1,500 MW electricity generated from solar plants.
 "ReNew Power inks 5 PPAs to supply around 1500 MW solar energy")
Piramal Enterprises plans to raise up to Rs 700 crore through bonds
A meeting of the administrative committee of the board of directors of the company will be held on May 4, 2022, to consider and approve the issuance of NCDs for up to Rs 50 crore
 "Piramal Enterprises plans to raise up to Rs 700 crore through bonds")
Tata Power signs MoU with NAREDCO for 5,000 EV charging points
Tata Power will provide a comprehensive EV charging solutions across properties of member developers of NAREDCO, the statement said
 "Tata Power signs MoU with NAREDCO for 5,000 EV charging points")
NCLT directs to initate insolvency proceedings against Andhra Cement
The National Company Law Tribunal has directed to initiate insolvency proceedings against Andhra Cement, a company owned by the debt-ridden Jaypee Group.
 "NCLT directs to initate insolvency proceedings against Andhra Cement")
NCLT gives Future Retail time till May 12 to file reply on insolvency plea
The NCLT gave crisis-hit Future Retail Ltd (FRL) time till May 12 to submit its reply to the insolvency petition filed against the company by Bank of India.
 "NCLT gives Future Retail time till May 12 to file reply on insolvency plea")
SoftBank-backed Meesho records over 100 mn transacting users
Internet commerce firm says customers from smaller Indian cities drive its growth and account for 80% shopping.
 "SoftBank-backed Meesho records over 100 mn transacting users")
Top traders body CAIT lauds CCI raids on Amazon sellers Cloudtail, Appario
India's antitrust body has reportedly launched raids against the two top domestic sellers of Amazon over accusations of having violated competition laws
 "Top traders body CAIT lauds CCI raids on Amazon sellers Cloudtail, Appario")
Persistent to hit $1 bn annual revenue rate in FY23; to hire 3,000 freshers
The Pune-headquartered company posted a 42 per cent jump in revenue to $217 million in the March quarter, when it witnessed a 45.9 per cent growth in net profit at Rs 200.9 crore
 "Persistent to hit $1 bn annual revenue rate in FY23; to hire 3,000 freshers")
Radisson plans to add 100 hotels in India by 2025: CEO Federico Gonzalez
We are looking at India's development and the speed of change in India. If India is growing at 7 per cent, that means more GDP than many European countries, he said
 "Radisson plans to add 100 hotels in India by 2025: CEO Federico Gonzalez")