Page 2769 - Company News
Honda puts the brakes on growth plans as scooter sales slow in India
Honda's scooter sales plunged 37 per cent year-on-year to 1,447,002 units in the first eight months of FY21
 "Honda puts the brakes on growth plans as scooter sales slow in India")
Over Rs 950-crore tax evasion by Flipkart unit, Swiggy: I-T department
Tax concealment in case of Walmart-owned Flipkart's unit is about Rs 650 crore while the remaining estimation is related to Swiggy, said a tax official privy to the preliminary findings
 "Over Rs 950-crore tax evasion by Flipkart unit, Swiggy: I-T department")
Infosys posts 16.6% net profit growth in Dec quarter, revises FY21 guidance
Large deals, digital growth drives outperformance
 "Infosys posts 16.6% net profit growth in Dec quarter, revises FY21 guidance")
Nestle's outlook crunchy as ever, room for firm to go deeper into rural mkt
Focus on innovation, market share and product premiumisation seen boosting growth
 "Nestle's outlook crunchy as ever, room for firm to go deeper into rural mkt")
Record deal wins offer revenue visibility for Infosys in next 3 quarters
While double-digit growth in FY22 is a given, near term margins could come under pressure
 "Record deal wins offer revenue visibility for Infosys in next 3 quarters")
Govt to sell up to 10% in SAIL via OFS, may fetch Rs 2,600 crore
On offer are 206.5 million shares, or 5% of company's stock, at a floor price of Rs 64 a share, with option to sell another 5% if issue is oversubscribed
 "Govt to sell up to 10% in SAIL via OFS, may fetch Rs 2,600 crore")
Covid-19 vaccine makers divided on indemnity ahead of vaccination drive
Govt unlikely to take a shot at Covid-19 vaccine liability, say legal experts
 "Covid-19 vaccine makers divided on indemnity ahead of vaccination drive")
Mahindra lays off two-thirds of staff at its North American subsidiary
Firm attributes move to pandemic and legal spat with Fiat Chrysler, says it is in line with group's strategy to re-think capital allocation and drive efficiency
 "Mahindra lays off two-thirds of staff at its North American subsidiary")
Telegram crosses 500-mn subscriber mark led by user additions in Asia
Telegram crossed 500-million subscriber mark globally and added 25 million new users in the last few days as it gained ground amid the controversy over WhatsApp's latest privacy policy update.
 "Telegram crosses 500-mn subscriber mark led by user additions in Asia")
Paytm says could turn profitable in 2021 as Covid-19 earns it users
Vijay Shekhar Sharma said the crisis had forced more merchants to use PayTM's platforms as businesses were forced to accept digital payments
 "Paytm says could turn profitable in 2021 as Covid-19 earns it users")
Motilal Oswal's real estate arm to raise Rs 800 crore via fifth fund
The fund has been set up as an alternate investment fund, firm expects to achieve first close by March and conclude fundraising in the next 6-9 months
 "Motilal Oswal's real estate arm to raise Rs 800 crore via fifth fund")
Tiger Global, others buy $50 mn shares from existing investors of Unacademy
The edtech unicorn has concluded secondary share transaction. Deal helps Tiger Global, Dragoneer Investment Group, Steadview Capital and General Atlantic double down on their investment
 "Tiger Global, others buy $50 mn shares from existing investors of Unacademy")
Paytm Money to offer F&O trading, eyes facilitating turnover of Rs 1.5 trn
The platform - which also offers services around stocks, direct mutual funds, ETF, IPO, NPS, and digital gold - is focussed on bringing wealth services to 100 million Indians
 "Paytm Money to offer F&O trading, eyes facilitating turnover of Rs 1.5 trn")
Hike in FPI limit, improving outlook positive signals for Bharti Airtel
Shares of the telecom operator hit a seven-month high of Rs 601.8 on BSE
 "Hike in FPI limit, improving outlook positive signals for Bharti Airtel")
Sterlite Power says Ricardo Zangirolami, its CEO in Brazil, resigned
He will be replaced by Amitabh Prasad in February, according to a statement
Indian Oil cancels LNG import tender due to higher prices: Report
Indian Oil Corp has cancelled its tender to import liquefied natural gas (LNG) for delivery in mid February due to higher prices, two trade sources familiar with the matter said.
 "Indian Oil cancels LNG import tender due to higher prices: Report")
Citi appoints Shahmir Khaliq as head of Treasury and Trade Solutions
Khaliq, who was the head of Operations and Technology at TTS, has also served as the company's global head of Direct Custody & Clearing within Markets and Securities Services unit
 "Citi appoints Shahmir Khaliq as head of Treasury and Trade Solutions")
Global consumption will remain depressed in first half of year: Unilever
The company would grow ahead of the broader market and he does not expect any hits to margins over the near term.
 "Global consumption will remain depressed in first half of year: Unilever")
DLF-Hines JV to invest Rs 1,300 cr on construction of Gurugram project
Realty major DLF and US-based Hines will invest around Rs 1,300 crore to construct the first phase of a premium commercial project, largely office space, in Gurugram, a senior company official said.
 "DLF-Hines JV to invest Rs 1,300 cr on construction of Gurugram project")
Infosys to acquire assets, onboard employees of Australia's Carter Digital
IT services major Infosys on Wednesday said it will purchase assets and onboard employees of Carter Digital, an Australian experience design agency.
 "Infosys to acquire assets, onboard employees of Australia's Carter Digital")