Page 2508 - Company News

Paytm shareholders approve Rs 12,000 cr primary fundraise at company EGM

Vijay Shekhar Sharma declassified as promoter; the company will raise Rs 2,000 cr before IPO

Pandemic helped all banks in improving digital transactions: CSB Bank CEO

CVR Rajendran, managing director, and chief executive officer of CSB Bank talks to Shine Jacob about the company's digital roadmap to touch 95 per cent mark, Covid-19 loans, the status of slippages

Abbott's Korea-imported PanBio Covid-19 self test launched at Rs 325

Firm expects demand from both, institutions and retail consumers, will import kits in 4-pack sizes from Korean plant; Test linked with NAVICA app which uploads results on ICMR website

Ola Electric raises $100-million long-term debt to build mega factory

The Ola Futurefactory is coming up on a 500-acre site in Tamil Nadu. At full capacity of 10 million vehicles annually, it will be the world's largest two-wheeler factory

UK-based Tide raises $100 mn funding from Apax Digital Fund, others

UK-based digital business financial platform Tide on Monday said it has raised over USD 100 million (about Rs 745 crore) in funding

Flipkart offers employees option to liquidate shares worth Rs 600 cr

During a town hall meeting, Flipkart CEO Kalyan Krishnamurthy told the employees that the firm aims to become a $100 billion company in terms of valuation

CCI approves Summit India's 23.5% stake-buy in ONGC Tripura Power Company

The transaction represents a credible business opportunity for Summit India (Tripura)

Only nine large firms' debt of Rs 59,000 crore recast by banks so far

Kamath panel approved all the nine proposals of banks

Second Covid wave: April sees sharp fall in new telecom users, says Trai

State governments had imposed lockdowns to curb the spread of the pathogen in April - a move that derailed economic activity.

Crude oil spike, weakening rupee cause turbulence for aviation stocks

This would offset the recovery in volumes from the lows in May

Food delivery giant Swiggy elevates Phani Kishan as co-founder

Swiggy was co-founded by Majety, Rahul Jaimini and Nandan Reddy in 2014.

No control over FPI disclosures, narrative was 'twisted': Gautam Adani

Adani said a section of the media indulged in "reckless" reporting on administrative actions of regulators, which resulted in a sharp fall in share prices

CCI clears SoftBank's $450-mn investment in food delivery firm Swiggy

Sources say funding is an extension of Swiggy's $800-mn round in April from investors such as Falcon Edge, Goldman Sachs and others, which took the company's valuation to $5 bn from $3.6 bn

Airtel clocks over 1,000 Mbps speed during 5G trial with Nokia in Mumbai

Telecom operator Bharti Airtel recorded a speed of over 1 Gigabit per second during a 5G field trial in Mumbai using Finnish firm Nokia's network gear, according to sources.

Numerous instances of delay in payment by Zomato, Swiggy: NRAI

NRAI said there have been numerous instances of delay in payment by Zomato and Swiggy which has affected the entire cash flow of its partners.

CCI approves deal involving SoftBank Group entity buying stake in Swiggy

Competition Commission of India (CCI) on Monday gave its nod for a proposed deal involving SoftBank Group entity purchasing a stake in food ordering and delivery platform Swiggy

Puma India signs 15 Olympic-bound Indian athletes ahead of upcoming games

Puma India, part of the global sportswear giant, has signed 15 Olympic-bound Indian athletes and three para athletes for the upcoming national and international tournaments

Paytm's key management personnel likely to be named in its DRHP

Paytm's wholly-owned arms are also being run by key leaders, including Varun Sridhar, who heads Paytm Money, Satish Gupta (Paytm Payments Bank) and Vineet Arora (Paytm General Insurance)

Jio tops subscriber race in April, Vodafone Idea user base erodes

Bharti Airtel added over 5.17 lakh users during the month under review, taking its subscriber base to over 35.29 crore

India Inc loosens purse strings for sales, IT functions, says report

With technology and sales becoming critical functions for business continuity and recovery, the salaries that these professionals command have increased significantly with a median increment of 7.12 per cent; while for super-specialised jobs, it was over 11 per cent, according to a report.