Page 2806 - Company News
T Rowe hikes Paytm's valuation by 35% to take enterprise value to $16 bn
The mutual fund company had earlier cut down the valuation of Paytm to $188 a share due to the impact of the Covid-19 pandemic
 "T Rowe hikes Paytm's valuation by 35% to take enterprise value to $16 bn")
Domestic carriers may post loss of Rs 21k cr in FY21 on revenue loss: Icra
The ratings agency has also revised downward its passenger traffic forecast with domestic passenger traffic estimated to decline 62-64 per cent this fiscal from the earlier forecast of 41-42 per cent
 "Domestic carriers may post loss of Rs 21k cr in FY21 on revenue loss: Icra")
Harley-Davidson's India dealers seek a 'fair deal' of compensation
Harley-Davidson's dealers association on Thursday demanded a "fair deal" of compensation from American cruiser bike major, before it exits the country
 "Harley-Davidson's India dealers seek a 'fair deal' of compensation")
Moody's downgrades Vedanta Resources' CFR to B2 citing weak liquidity
Revised ratings on firm's senior unsecured bonds from "B3" to "Caa1". All ratings remain under review for further downgrade
 "Moody's downgrades Vedanta Resources' CFR to B2 citing weak liquidity")
Future-Reliance deal: Regulator Sebi awaits clarification before go-ahead
In August, Reliance Industries announced acquisition of Future Group for Rs 24,713 crore to bolster its fast growing retail business.
 "Future-Reliance deal: Regulator Sebi awaits clarification before go-ahead")
Standard Life sells 27.8 mn shares to prune stake in HDFC Life to 8.89%
Deal struck at Rs 619.25 a share, raising Rs 1,720 cr; sale represents 1.38 per cent stake
 "Standard Life sells 27.8 mn shares to prune stake in HDFC Life to 8.89%")
Reliance Infratel resolution gets NCLT nod; lenders may get Rs 4,400 cr
The resolution plan was approved by 100 per cent votes of the committee of creditors.
 "Reliance Infratel resolution gets NCLT nod; lenders may get Rs 4,400 cr")
Flipkart partially spins off PhonePe in $700 million fundraising round
E-commerce major Flipkart announced a "partial spin-off" of PhonePe as the digital payment firm raises $700 million in funding, valuing it at $5.5 billion
 "Flipkart partially spins off PhonePe in $700 million fundraising round")
Radhakishan Damani, others sell 0.79% stake in Tata's Trent for Rs 202 cr
Radhakishan Damani, promoter of Avenue Supermarts, and persons acting in concert have trimmed stake in Tata group's retail arm, Trent, by selling shares for an estimated sum of over Rs 202 crore
 "Radhakishan Damani, others sell 0.79% stake in Tata's Trent for Rs 202 cr")
Alembic Pharma gets USFDA nod for pills to treat salt, water retention
Alembic Pharmaceuticals said it received approval from the US health regulator for Metolazone tablets, indicated for the treatment of salt and water retention caused by heart failure or kidney disease
 "Alembic Pharma gets USFDA nod for pills to treat salt, water retention")
Siemens Gamesa fires top India exec over lack of due diligence in dealings
Siemens Gamesa Renewable Energy's India unit fired a top executive after an investigation found he failed to conduct appropriate due diligence when engaging a consultancy with political connections
 "Siemens Gamesa fires top India exec over lack of due diligence in dealings")
Improving core market, consolidation and REIT listing to fuel gains for DLF
The company has plans to launch multiple projects over the next few years
 "Improving core market, consolidation and REIT listing to fuel gains for DLF")
Xiaomi shares slide 7.1% after finalising $3.9 billion in equity deal
The company said 1 billion shares were sold at HK$23.70 each as part of the top up deal that was carried out overnight
 "Xiaomi shares slide 7.1% after finalising $3.9 billion in equity deal")
Salesforce agrees to buy workplace app Slack in $27.7 billion deal
Salesforce agreed to buy workplace app Slack in a $27.7 billion deal, biggest by the cloud-computing pioneer as it bets on an extended run for remote working and sharpens its rivalry with Microsoft
 "Salesforce agrees to buy workplace app Slack in $27.7 billion deal")
Leading honey brands fail adulteration test by foreign lab, says CSE
Only Marico's Saffola Honey clears all tests; Dabur, Emami, Patanjali say their products safe
 "Leading honey brands fail adulteration test by foreign lab, says CSE")
60 companies submit bids for Reliance Capital's asset monetisation
Oaktree, JC Flowers, 6 others submit EoIs for entire company
 "60 companies submit bids for Reliance Capital's asset monetisation")
Mittal Jr ups his reputation as VC investor as firm invests $500 mn so far
Mittal Junior will not divulge how much the company has invested so far, but he admits that the investments range from $10 million, which is the minimum threshold, to $50 million
 "Mittal Jr ups his reputation as VC investor as firm invests $500 mn so far")
Covid-induced spike in palm oil prices to aid Godrej Agrovet's profits
The segment was a key driver of revenues and margins in the September quarter
 "Covid-induced spike in palm oil prices to aid Godrej Agrovet's profits")
Growth or stability, the dilemma for investors looking at Bajaj Finance
With the stock doubling in six months, the consumer lender has outperformed peers
 "Growth or stability, the dilemma for investors looking at Bajaj Finance")
Pfizer vaccine not coming to India soon as trials yet to be conducted
Pfizer has not yet applied for holding clinical trials on Indian volunteers
 "Pfizer vaccine not coming to India soon as trials yet to be conducted")