Page 3297 - Company News

JSW Steel upstages ArcelorMittal, Vedanta to win Nuagaon block

The block, currently held by merchant miner KJS Ahluwalia with deposits of 790 million tonnes of iron ore, is the first of 21 lapsing blocks to have been successfully auctioned

Embassy to merge some of its properties with Indiabulls Real Estate

The companies did not share details of the properties they are merging

Brookfield to pick up 40% stake in IndoStar Capital for Rs 1,450 crore

Brookfield will also become a co-promoter in IndoStar and nominate two board members. R Sridhar will continue to lead the company in his role as vice-chairman and CEO of IndoStar

Aston Martin set to sell stake to F1 billionaire in $656-million deal

The shares posted their biggest gain ever on Friday after Aston Martin announced details of the rescue package, which sees a group led by Stroll buying as much as 20 per cent of the company

Neemuchwala resigns after 4 years as Wipro CEO citing 'family commitments'

The board of directors has begun the process of looking for the next CEO, the company told the stock exchanges

Virginia Rometty steps down, IBM elevates Arvind Krishna as CEO

Krishna will take charge on April 6, while Rometty, who has been at the helm since 2012, will continue as executive chairman until the end of the year

India unit of SAIC warns of sales hit due to coronavirus outbreak

Disruption in supply chain from European, Chinese and other Asian suppliers would impact the automaker

Telegram CEO criticises WhatsApp over encryption claims, security backdoors

Durov said WhatsApp marketed end-to-end encryption as some magic incantation that alone is supposed to automatically make all communications secure

Amazon's Jeff Bezos adds $13 bn to his fortune in 15 mins; stock rises

At the current price, his net worth would be about $129.5 billion, according to the Bloomberg Billionaires Index

Tech Mahindra's deal wins of over $1.3 bn keeping Street sentiment positive

Valuation of over 13 times its FY21 estimated earnings reasonable

Indiabulls to exit realty biz, merge with entity led by Embassy, Blackstone

In the past two years, IBREL has sold commercial assets to Blackstone for around Rs 12,250 crore

BMW's costliest art car comes to India, to cost 'millions of dollars'

The car, which was painted by Andy Warhol in 1979, is on display in Delhi at the India Art Fair

Economic Survey links infrastructure with social reforms to boost growth

The Survey suggested interlinking electricity supply with health and education

Crisis-hit Thyssenkrupp mulls sale of elevators units worth 15 billion euro

According to the Financial Times, Thyssenkrupp has attracted at least four bids for its crown jewel, including from Finnish lift maker Kone

Fused entity to have enough cash to loan private players: PFC on REC merger

PFC and REC can separately lend up to 25 per cent of their net worth to a single borrower/ project, and lending to a group borrower could be 40 per cent, PFC informed the BSE

Corporation tax cut to benefit 1% firms, SMEs paying lower tax: Eco Survey

With economic slowdown resulting in slippages in direct and indirect tax collections, the Survey said the next financial year is expected to pose challenges on the fiscal front

Ride-hailing firm Ola to start in London on Feb 10 with over 20,000 drivers

Will be fully operational from day one, firm aims to offer a differentiated experience with features such as 24/7 helplines for drivers and customers and in-app emergency button

Little Caesars Pizza enters India with two stores, eyes 10 more by 2020-end

While it has launched with two veg-only pizza restaurants in Ahmedabad as part of its India foray, it plans to adapt its menu to the local market which may involve non-veg stores outside of Gujarat

Vedanta Q3 PBT at Rs 3,806 cr, up 9.4% on lower costs, exceptional gain

Sales down 10% to Rs 21,126 cr mainly due to lower commodity prices, muted volumes in zinc, oil & gas and copper

Mining sector's GDP share sees decline due to disruptions in Goa, Karnataka

Closure of mines and disruptions due to changes in legislations has thrown the sector out of gear, curtailing production and endangering jobs