Page 2151 - Company News
Nestle India bucks rural growth trend in Q4 with 9% YoY revenue spike
Smaller contribution of 20-25% from rural sales helped; net profit down 20% due to exceptional item
 "Nestle India bucks rural growth trend in Q4 with 9% YoY revenue spike")
Three shipyards account for bulk of Rs 44,000 cr banks lost to the industry
ABG Shipyard was biggest contributor, at Rs 23,000 cr, to the drain on banks' coffers
 "Three shipyards account for bulk of Rs 44,000 cr banks lost to the industry")
Distribution gains to bolster volume growth for Varun Beverages
The impact of rising raw material prices is a near term concern
 "Distribution gains to bolster volume growth for Varun Beverages")
Ambuja Cements to invest Rs 3,500 cr for raising cement grinding capacity
Ambuja Cements Ltd announced an investment of Rs 3,500 crore for expansion of its cement grinding capacity.
 "Ambuja Cements to invest Rs 3,500 cr for raising cement grinding capacity")
Cloud-based solutions an opportunity and challenge for government projects
There is also a need for departments to educate the members about cloud and usage and procurement as the financial contours are different
 "Cloud-based solutions an opportunity and challenge for government projects")
Greater confidence now of co-existing with virus: HDFC Deepak Parekh
HDFC Chairman Deepak Parekh said after almost two years into the pandemic, there is now greater confidence of co-existing with the virus and the optimism of a return to near normalcy.
 "Greater confidence now of co-existing with virus: HDFC Deepak Parekh")
Balkrishna Industries: Margin outlook weighs on near term prospects
Balkrishna Industries: Volume constraints and valuations are the other concerns
 "Balkrishna Industries: Margin outlook weighs on near term prospects")
Lupin receives USFDA approval for antibiotic Solosec
Lupin Ltd on Thursday said it has received approval from the US health regulator for its supplemental New Drug Application (sNDA) for usage of its antibiotic Solosec.
 "Lupin receives USFDA approval for antibiotic Solosec")
Wealth management start-up Fintso looking at $10-million funding
Fintso, the start-up focused on financial advisors in the wealth management space, is looking at raising at least USD 10 million from venture capital funds by late-March or early-April.
 "Wealth management start-up Fintso looking at $10-million funding")
Hindujas-backed MindMaze secures $105 mn funding led by Concord Health
Digital neuro-therapeutics solutions provider MindMaze said it has secured a $105 million (over Rs 785 crore) financing led by Concord Health Partner
 "Hindujas-backed MindMaze secures $105 mn funding led by Concord Health")
Apollo Hospitals inks pact for tertiary care hospital in Uzbekistan
The Apollo Hospitals inked a pact with Marafon Group for setting up a first-of-its kind tertiary care hospital in Uzbekistan, the leading corporate hospital said
 "Apollo Hospitals inks pact for tertiary care hospital in Uzbekistan")
Juspay Technologies launches solution for interoperablility of PPIs
The launch of 'Openppi' follows the May 2021 regulation from RBI mandating prepaid cards and wallets that are full-KYC-compliant to be fully interoperable by March 2022
Maruti Suzuki plans to take car subscription business to more cities
The company is getting more than 7,000 enquiries every month. But the conversion rate is low with 100-110 enquiries getting converted to actual order and Maruti wants to improve that
 "Maruti Suzuki plans to take car subscription business to more cities")
Upstox ropes in Myntra, Oyo executives to bolster leadership team
Harish Narayanan joins as Chief Growth Officer, Jayant Chauhan as Senior Vice President-Finance and Saurabh Agarwal as Vice President-New Initiatives
 "Upstox ropes in Myntra, Oyo executives to bolster leadership team")
Zerodha co-founder Nikhil Kamath invests in drone start-up Omnipresent
This round also saw co-investments from Kavin Shah, and other individual high networth individual (HNIs), according to a statement released on Thursday
 "Zerodha co-founder Nikhil Kamath invests in drone start-up Omnipresent")
BSE Ebix, LIC join hands for distribution of insurance products
'Under this agreement, BSE Ebix will offer their clients insurance products offered by LIC such as Life and Health, using its omni-channel digital presence'
 "BSE Ebix, LIC join hands for distribution of insurance products")
RIL lists over $7 bn worth of existing foreign currency bonds on India INX
Reliance Industries Ltd has listed its existing foreign currency bonds aggregating over $7 billion on the India INX, in the largest such listing by a private entity on India INX and GIFT IFSC
 "RIL lists over $7 bn worth of existing foreign currency bonds on India INX")
Ashok Leyland expects turnaround in CV business, 30% market share in FY23
Having endured a few very tough quarters, the commercial vehicle major has seen its overall market share hovering around 24-25 per cent
 "Ashok Leyland expects turnaround in CV business, 30% market share in FY23")
Capgemini views India as more than a delivery centre: Group CEO Aiman Ezzat
The company is increasing the number of centres of excellence in the country this year. Many of these will now focus on technologies like IoT, smart factory, intelligent supply chain
 "Capgemini views India as more than a delivery centre: Group CEO Aiman Ezzat")
ElasticRun, a B2B e-commerce start-up, raises $330 mn at $1.5-bn valuation
In the last round, which was Series D in April 2021, the e-commerce start-up had been valued at $400 million
 "ElasticRun, a B2B e-commerce start-up, raises $330 mn at $1.5-bn valuation")