Page 2146 - Company News
IPO-bound LIC's FY21 profit picture not so pretty compared to size
FY21 profit of Rs 4,579 cr would make it 34th most profitable listed firm
 "IPO-bound LIC's FY21 profit picture not so pretty compared to size")
German skincare brand Sebamed cuts prices, to use sachets for Indian market
The brand usually caters to premium consumers in personal care and baby care and it is a recent entrant in India
 "German skincare brand Sebamed cuts prices, to use sachets for Indian market")
Govt to soon decide on giving additional charge of New India Assurance CMD
Banks Board Bureau, the headhunter for state-owned banks and financial institutions, is the advisory body formed by the government in 2016 for selection of candidates for top-level board appointments
 "Govt to soon decide on giving additional charge of New India Assurance CMD")
Street signs: Arbitrage opportunity from TCS buyback, MFI stocks & more
Brokerages are advising their retail clients to buy shares of TCS to gain from the arbitrage opportunity created by its Rs 18,000-crore buyback
 "Street signs: Arbitrage opportunity from TCS buyback, MFI stocks & more")
Supply chain firm Increff raises $12 mn in funding for expanding business
Funding round attended by TVS Capital Funds, Premji Invest, and Flipkart co-founder Binny Bansal's 021 Capital
 "Supply chain firm Increff raises $12 mn in funding for expanding business")
New CSR disclosure framework to enhance transparency: Govt official
In 2019-20 financial year, the CSR expenditure stood at Rs 24,864 crore; As per data available on the portal, the total CSR spending in the last two financial years is more than Rs 45,200 crore
 "New CSR disclosure framework to enhance transparency: Govt official")
LIC's business plan change after IPO a threat to private firms: Report
According to an analysis of its initial public offer (IPO) filings by Swiss brokerage Credit Suisse, SBI Life, ICICI Prudential, HDFC Life and Max Life will face the maximum impact of the LIC move
 "LIC's business plan change after IPO a threat to private firms: Report")
New policy to cut green hydrogen cost by 40-50%, says Indian Oil
Oil refineries, fertiliser plants and steel units use hydrogen as process fuel to produce finished products.
 "New policy to cut green hydrogen cost by 40-50%, says Indian Oil")
Ashok Leyland mulls EV plant; lines up Rs 500 cr for alternative fuel tech
The company has already announced a $200 million (nearly Rs 1,500 crore) investment through its UK-based arm Switch Mobility for electric mobility.
 "Ashok Leyland mulls EV plant; lines up Rs 500 cr for alternative fuel tech")
NTPC surpasses 2020-21 electricity generation of 314 billion units
State-run power giant NTPC on Saturday said it surpassed the maximum annual electricity generation of 314 billion units achieved in 2020-21 on February 18.
 "NTPC surpasses 2020-21 electricity generation of 314 billion units")
Online grocery seller BigBasket acquires Kerala startup Agrima Infotech
Indian online grocery seller giant BigBasket acquires enterprise business unit of a deep-tech company incubated by Kerala Startup Mission (KSUM) with a view to transform offline retail in the country.
 "Online grocery seller BigBasket acquires Kerala startup Agrima Infotech")
Indian IT players to hire 360,000 freshers for FY22: Unearthinsight study
In order to retain talent, companies announced several measures like salary hikes, stock options, promotions, long-term incentives, higher skill increments, and upskilling/reskilling training
 "Indian IT players to hire 360,000 freshers for FY22: Unearthinsight study")
Future Retail pays $14 million interest on USD notes in grace period
Debt-ridden Future Retail has made a payment of $14 million for interest due on the dollar-denominated notes (USD Notes) listed on the Singapore Stock Exchange after missing the due date last month.
 "Future Retail pays $14 million interest on USD notes in grace period")
IFIN recovers Rs 2,300 cr from third party borrowers, external investments
IFIN had placed 62 non-performing asset (NPA) accounts worth Rs 4,297 crore on sale, which was to be done through the 'Swiss Challenge' route
 "IFIN recovers Rs 2,300 cr from third party borrowers, external investments")
Tier-II,III cities to drive growth over next 2 years: Sundaram Home Finance
'The housing market will continue to remain resilient and grow this year, flagged by a strong underlying end user demand and growth of smaller cities,'
 "Tier-II,III cities to drive growth over next 2 years: Sundaram Home Finance")
Intel-owned Tower Semiconductor's chip-making plan in India back on table
In September 2021, the company had threatened to pull the plug on its plan to set up a facility in India
 "Intel-owned Tower Semiconductor's chip-making plan in India back on table")
RBI-appointed administrator invites bids for resolution of Reliance Capital
As part of the resolution process, the RBI-appointed administrator on Friday invited expressions of interest (EoIs) for sale of debt-ridden Reliance Capital promoted by Anil Ambani Group
 "RBI-appointed administrator invites bids for resolution of Reliance Capital")
End of battle? Rakesh Gangwal quits IndiGo board, to reduce stake
Stock analysts said Gangwal's announcement will keep the company's stock price under pressure
 "End of battle? Rakesh Gangwal quits IndiGo board, to reduce stake")
IOC raises Rs 1,500 cr via bonds at interest rate lower than sovereign
IOC priced its five-year rupee bonds at a coupon rate of 6.14 per cent tighter than a similar maturing government bond that is trading at an annualised yield of 6.29 per cent
 "IOC raises Rs 1,500 cr via bonds at interest rate lower than sovereign")
IndiGo takes delivery of first Airbus plane operating on sustainable fuel
Any fuel that has lower carbon emissions than conventional kerosene is known as Sustainable Aviation Fuel (SAF)
 "IndiGo takes delivery of first Airbus plane operating on sustainable fuel")