Page 2627 - Company News
Merger of TV18 Broadcast, Hathway, Den Networks into Network18 called off
Considering that more than a year has passed from the time the board considered the scheme, it has decided to not proceed with the arrangement envisaged in the scheme, Den said in a statement
 "Merger of TV18 Broadcast, Hathway, Den Networks into Network18 called off")
Tessolve raises $40 mn from Singapore's Novo Tellus at $100 mn valuation
The funding will be used by Tessolve, a Hero Electronix venture, to drive further growth through acquisitions and organic investments
 "Tessolve raises $40 mn from Singapore's Novo Tellus at $100 mn valuation")
Mahindra Lifespace to buy 3.2 acre land in Pune for expansion plans
Mahindra Lifespace Developers has agreed to buy 3.2 acre land in Pune from parent company Mahindra & Mahindra as part of its expansion plan.
 "Mahindra Lifespace to buy 3.2 acre land in Pune for expansion plans")
IndiGo to acquire four A321ceo planes, convert them into freighter aircraft
The airline is expected to take the delivery of its first plane in the first half of 2022
 "IndiGo to acquire four A321ceo planes, convert them into freighter aircraft")
Private lender DCB purchases 9% stake in NBFC Techfino Capital
DCB Bank said it has acquired 9 per cent stake in non-banking financial company Techfino Capital which is engaged in providing technology-based education and healthcare loans.
 "Private lender DCB purchases 9% stake in NBFC Techfino Capital")
HCL Infosystems names Alok Sahu as CFO; to succeed Kapil Kapur
HCL Infosystems on Wednesday said its Chief Financial Officer Kapil Kapur has resigned from the company
 "HCL Infosystems names Alok Sahu as CFO; to succeed Kapil Kapur")
Discoms overdues falls by over Rs 151 bn to Rs 740 bn in Mar: Report
The outstanding overdues of power distribution utilities fell by over Rs 15,118 crore to Rs 74,510 crore in March this year, as compared to the preceding month, according to PFC Consulting Ltd data
 "Discoms overdues falls by over Rs 151 bn to Rs 740 bn in Mar: Report")
Pankaj Gupta quits as Google Pay engineering head to join US crypto firm
Executive says he will build Coinbase's technology hub in India 'from scratch', hire people
 "Pankaj Gupta quits as Google Pay engineering head to join US crypto firm")
DCB Bank acquires equity stake in Bengaluru-based Techfino Capital
DCB Bank Limited announced on Wednesday that it has acquired a minority equity stake of approximately 9% in Bengaluru-based NBFC company Techfino Capital Private Limited
 "DCB Bank acquires equity stake in Bengaluru-based Techfino Capital")
Modi praises Tata Group's 'compassionate gesture' in India's oxygen crisis
Business group says it is 'committed to strengthen' India's fight against Covid-19.
 "Modi praises Tata Group's 'compassionate gesture' in India's oxygen crisis")
Life insurance giant LIC earns Rs 1.84 trillion in new premium in FY21
One of Asia's life insurance giants, Life Insurance Corporation of India (LIC) closed last fiscal with a new business premium or first year premium of Rs 1.84 trillion, the company said
 "Life insurance giant LIC earns Rs 1.84 trillion in new premium in FY21")
IL&FS case complexities reveal what India's resolution mechanism is lacking
A stretched rescue process reveals critical deficiencies in India Inc's corporate layering and resolution mechanism worsened by the pandemic
 "IL&FS case complexities reveal what India's resolution mechanism is lacking")
Despite grim outlook, fiscal stimulus unlikely for India Inc this year
"The impact on GDP would not be significant due to lockdowns in some states and the estimates made in the Budget have been conservative," said another government official
 "Despite grim outlook, fiscal stimulus unlikely for India Inc this year")
Near-term margin concerns and valuations weigh on Dr Lal Pathlabs
Some brokerages prefer Metropolis given higher realisation, revenue growth trajectory
 "Near-term margin concerns and valuations weigh on Dr Lal Pathlabs")
Covid second wave unlikely to dent FY22 earnings, say analysts
While there will be some sectors (such as entertainment, hotels, aviation etc.) that will bear the brunt of the second Covid wave, the loss will be compensated by strong earnings in some other sectors
 "Covid second wave unlikely to dent FY22 earnings, say analysts")
Pristyn Care's valuation crosses $550 mn, raises $53 mn in funding round
Healthcare startup specialises in surgeries, plans to expand its business in more cities and towns.
 "Pristyn Care's valuation crosses $550 mn, raises $53 mn in funding round")
Paytm Payments Bank becomes the largest beneficiary on UPI platform
With 469.84 mn transactions in March it is ahead of the country's largest lender SBI and private lenders such as Yes Bank, ICICI Bank, Axis Bank and HDFC Bank
 "Paytm Payments Bank becomes the largest beneficiary on UPI platform")
Hero MotoCorp halts production all across as precautionary measure
Firm says shutdown is due to massive and unrestrained spread of Covid-19 across the country
 "Hero MotoCorp halts production all across as precautionary measure")
Chargebee's valuation triples to $1.4 bn in 6 months, raises $125 mn
The global pandemic has accelerated the already growing shift to SaaS (software-as-a-service) and subscription-based business models from cars to coffee providers
 "Chargebee's valuation triples to $1.4 bn in 6 months, raises $125 mn")
Coke, Pepsi report stable financial in March quarter, but Covid cloud looms
Cola majors say they will monitor localised lockdowns, vaccination progress
 "Coke, Pepsi report stable financial in March quarter, but Covid cloud looms")