Page 2198 - Company News

No involvement in Tek Fog; revenue from corporates: Persistent Systems

Denying "any involvement" in the 'Tek Fog' matter, mid-tier IT company Persistent Systems on Friday asserted that "most if not all" of its domestic revenue comes from corporates

Future Retail 'not in position' to make $471 mn payment as deadline nears

Future Retail Ltd. isn't in a position to make a payment on 35 billion rupees ($471 million) of past-due debt before the grace period expires

Elon Musk's brain implant company 'Neuralink' nears human trials

Elon Musk-run brain-machine interface company Neuralink is preparing to launch clinical trials that will implant brain chips in humans.

Sony seeks new partners for transformative electric vehicle project

Sony Chief Executive Kenichiro Yoshida at the CES technology tech fair in Las Vegas this month announced the creation of Sony Mobility

Singtel buys minority stake in Indonesian bank for about $35 mn

Singapore Telecommunications, Southeast Asia's largest telecommunications operator, said it has bought a 16.3% stake in PT Bank Fama International for 500 billion rupiah ($34.9 million)

China Evergrande says hiring more advisers to help deal with debt

China Evergrande Group said on Friday that it was hiring more financial and legal advisers to help it with demands from creditors

Offline retailers feel Omicron chill as Republic Day sale nears

Fewer trips to malls mean lower footfall and sales, resulting in higher piling of stock - and possibly higher discounts

Hike in import duties on components of mobile devices may nix PLI benefits

High component cost may push up mobile prices by 18%

Tax woes: Tesla gets an offer, but with a caveat on local manufacturing

Tesla models, with price starting at around Rs 34 lakh in the US, will cost double in India

Container Corporation of India Dec-quarter net rises 24% to Rs 276 cr

The company had clocked a net profit of Rs 225.66 crore in the corresponding quarter a year ago

Pricing to licensing policy: India and the 5G network conundrum

As of September 2021, 99 nations were said to have working commercial 5G networks

Domestic auto components industry to see 15-17% revenue growth this fiscal

The industry may again see double-digit growth in FY23, given that the impact of the Omicron variant is limited

Icra revises AUM growth outlook for retail NBFCs to 5-7% from 8-10% in FY22

The agency said the growth outlook would be exposed to downside risk in case of significant disruptions caused by the new wave of infections in Q4 FY2022.

Urban Company says partners' monthly net earnings grew 11% in Dec qtr

The top 20 per cent of the company's partners earned an average of Rs 38,263 per month, while partners completing over 30 orders in a month earned Rs 30,455 per month

Two price hikes in Dec qtr reverse Asian Paints' falling margin trajectory

The company expects March quarter (Q4) to be better than Q3

Early birds hint at subdued earnings growth in December quarter

Net profit up 10.4% YoY, growing at slowest pace in five quarters

Future mulls Supreme Court bid to avoid being named a defaulter

Future told Indian exchanges this month it was unable to pay 35 billion rupees ($470 million) it owed to its lenders on Dec

Willing to assist FRL, including proposed infusion of Rs 7,000 cr: Amazon

Amazon said it has consistently emphasised its willingness to assist FRL before the arbitral tribunal and Indian courts

Apollo Hospitals gains on Nifty 50 inclusion hopes, ends nearly 3% up

Analysts tracking index composition say Apollo Hospitals will replace Indian Oil; official announcement expected by Feb third week, changes will become effective on March 31

Convergence Energy Services floats biggest ever tender for electric buses

Aims to deploy 5450 single decker buses and 130 double decker buses through the scheme