Page 2201 - Company News
ICICI Lombard posts a marginal 1.28% rise in Q3 net profit to Rs 318 cr
Sequentially, net profit was down 29%
 "ICICI Lombard posts a marginal 1.28% rise in Q3 net profit to Rs 318 cr")
State Bank of India to get Rs 974 cr for 'interest on interest' payment
The cabinet committee on economic affairs (CCEA) has also approved an equity infusion of Rs 1,500 crore in IREDA
 "State Bank of India to get Rs 974 cr for 'interest on interest' payment")
NTPC steps up coal imports, seeks to avoid power crunch later this year
The New Delhi-based company is aiming to secure cargoes starting from April, when power consumption in India typically surges on summer cooling demand
 "NTPC steps up coal imports, seeks to avoid power crunch later this year")
Santhosh Viswanathan appointed as Managing Director - SMG of Intel India
He will be responsible for Intel's overall business in India, including driving new revenue opportunities, engaging with the local ecosystem
 "Santhosh Viswanathan appointed as Managing Director - SMG of Intel India")
Tyre major CEAT reports Rs 20-crore net loss in December quarter
The company had posted a net profit of Rs 132 crore in the third quarter of the financial year 2020-21
 "Tyre major CEAT reports Rs 20-crore net loss in December quarter")
Tata Investment Corp posts 42.8% jump in consolidated PAT to Rs 39.7 cr
The company had posted a consolidated profit after tax of Rs 27.81 crore in the corresponding quarter of the previous financial year
 "Tata Investment Corp posts 42.8% jump in consolidated PAT to Rs 39.7 cr")
Diginoor.io raises $1 million seed funding from Contrary Capital, Polygon
Some of the partners of Diginoor.io include AVM Productions, Reliance Entertainment and a host of other major studios
 "Diginoor.io raises $1 million seed funding from Contrary Capital, Polygon")
Cholamandalam launches three new biz verticals for consumer and SME loans
Firm partners with leading Fintech companies BankBazaar, Kreditbee and Paytail
 "Cholamandalam launches three new biz verticals for consumer and SME loans")
Global IT spending to reach $4.5 trillion in 2022, says Gartner report
With an increase of 5.1 per cent from 2021, the global IT spending is projected to reach $4.5 trillion this year, a new report has said.
 "Global IT spending to reach $4.5 trillion in 2022, says Gartner report")
Hyderabad's Biophore to manufacture ingredients of Pfizer's Covid drug
Biophore India Pharmaceutical announced that it developed and started manufacturing the key intermediates of Nirmatrelvir, one of the active ingredients of Paxlovid, the latest anti-Covid therapy
 "Hyderabad's Biophore to manufacture ingredients of Pfizer's Covid drug")
Reliance Retail acquires about 55% stake in Addverb Technologies: RIL
Reliance Retail had acquired about 55 per cent stake in robotics firm Addverb Technologies in July 2021, Indian conglomerate Reliance Industries Limited said in a filing on Wednesday.
 "Reliance Retail acquires about 55% stake in Addverb Technologies: RIL")
Air India to prepay debentures at a premium on investors' insistence
Investors sought premium after airline offered to prepay Rs 12,900 cr of bonds at par in Nov
 "Air India to prepay debentures at a premium on investors' insistence")
Lummo raises $80 mn in funding from Tiger Global, Sequoia Capital India
Lummo (previously known as BukuKas) on Wednesday said it has raised USD 80 million (about Rs 595.8 crore) in funding led by Tiger Global and Sequoia Capital India.
 "Lummo raises $80 mn in funding from Tiger Global, Sequoia Capital India")
GAIL confirms suspension of its Director (Mkt) Ranganathan after CBI arrest
The CBI had on January 14 registered a complaint in connection with discounts that Ranganathan had allegedly promised to private companies in exchange for a bribe of Rs 50 lakh
 "GAIL confirms suspension of its Director (Mkt) Ranganathan after CBI arrest")
Pfizer chief Albert Bourla wins $1 mn Genesis Prize for vaccine development
Albert Bourla, chairman and chief executive of global pharmaceutical giant Pfizer Inc., was awarded the prestigious Genesis Prize for his efforts in leading the development of a Covid-19 vaccine
 "Pfizer chief Albert Bourla wins $1 mn Genesis Prize for vaccine development")
Microsoft's $69 bn gaming acquisition will bolster its Metaverse plans
Microsoft's acquisition of video game maker Activision Blizzard for nearly $69 billion is yet another play by the tech giant to secure its stake in the nascent Metaverse
 "Microsoft's $69 bn gaming acquisition will bolster its Metaverse plans")
IndiGG secures $6 mn in funding to foster play-to-earn movement in India
The funds, including an additional $1 mn pre-seed led by YGG, will be utilised by IndiGG to focus on several key areas to fuel platform growth and onboard Indian gamers
 "IndiGG secures $6 mn in funding to foster play-to-earn movement in India")
Crypto-native social platform Sahicoin raises $1.75 mn in seed round
Founded by IIT Kanpur alumni, Amit Nayak, Ankush Rajput, and Melbin Thomas, the platform aims to empower the next billion crypto enthusiasts to make faster and better investing decisions
 "Crypto-native social platform Sahicoin raises $1.75 mn in seed round")
NTPC steps up coal imports, seeks to avoid power crunch later this year
Indian power producers are returning to the seaborne coal market as they rebuild stockpiles after last year's energy crisis.
 "NTPC steps up coal imports, seeks to avoid power crunch later this year")
Reloy raises Rs 5 cr in strategic pre-series A funding round led by IPV
Started in 2018, Reloy has been working closely with the largest builders and has influenced over Rs 700 crore sales in the real estate industry with clients like Sharpoorji Pallonji among others
 "Reloy raises Rs 5 cr in strategic pre-series A funding round led by IPV")