Page 385 - Company News
EIL, MECON, and 4 others in fray for RBI's currency management project
After evaluating the responses, RBI said it has shortlisted six entities for issuance of Request for Proposal (RFP), according to an official document
 "EIL, MECON, and 4 others in fray for RBI's currency management project")
Ola Electric's unit faces 2 insolvency petitions over unpaid vendor dues
Rosmerta Digital Services Pvt. and Rosmerta Safety Systems - suppliers of vehicle registration services and high-security registration plates respectively - have separately filed insolvency pleas
 "Ola Electric's unit faces 2 insolvency petitions over unpaid vendor dues")
SAIL to invest Rs 30,000 cr to expand Rourkela Steel Plant to 9 MT by 2030
Post expansion, which will come up over an area of 1,200 acre, RSP will alone contribute around 25 per cent to SAIL's overall 35 million tonne per annum (MTPA) production capacity
 "SAIL to invest Rs 30,000 cr to expand Rourkela Steel Plant to 9 MT by 2030")
US investment may be delayed due to tariff uncertainty: Tata Technologies
The company, a global product engineering and digital services firm with significant presence in the US, however, is hopeful that in the next month or two, there will be some clarity
 "US investment may be delayed due to tariff uncertainty: Tata Technologies")
Allchem Lifescience files IPO papers with Sebi, aims to raise Rs 190 cr
The Gujarat-based company's proposed IPO comprises fresh issue of equity shares aggregating up to Rs 190 crore and an offer for sale (OFS) of 71.55 lakh equity shares by promoters
 "Allchem Lifescience files IPO papers with Sebi, aims to raise Rs 190 cr")
Carlsberg India FY24 sales cross Rs 8K cr, profit up 60.5% to Rs 323 cr
The total income of Carlsberg India was up 15.2 per cent at Rs 8,044.9 crore for the financial year ended March 31, 2024
 "Carlsberg India FY24 sales cross Rs 8K cr, profit up 60.5% to Rs 323 cr")
Pravaig's 'Veer' undergoes military trials, wins iDEX defence award
The award is considered the first step towards induction into Indian Defence Services
 "Pravaig's 'Veer' undergoes military trials, wins iDEX defence award")
Rosmerta Digital seeks insolvency proceedings against Ola Electric's arm
The company has sought appropriate legal advice and it strongly disputes the claims made, Ola Electric Mobility said, adding it would take all necessary and appropriate steps to protect its interests
 "Rosmerta Digital seeks insolvency proceedings against Ola Electric's arm")
Court rejects chargesheet against Goenka, Balwa in Yes Bank-DHFL case
According to the CBI, Goenka and Balwa took loans from DHFL but diverted the funds instead of using them for their intended purpose
 "Court rejects chargesheet against Goenka, Balwa in Yes Bank-DHFL case")
Standard Chartered raises 1 bn euro via social bond, commits 50% for India
The 8-year bond will primarily facilitate lending to small and medium sized enterprises, ensuring access to finance
 "Standard Chartered raises 1 bn euro via social bond, commits 50% for India")
India's M&A market sees record activity in February at $7.2 billion
As many as 85 merger and acquisition (M&A) deals worth $4.8 billion were announced in February
 "India's M&A market sees record activity in February at $7.2 billion")
Intel's new CEO Lip-Bu Tan gets pay package valued at about $69 million
Tan has also agreed to buy $25 million in Intel shares in the first 30 days of taking the job
 "Intel's new CEO Lip-Bu Tan gets pay package valued at about $69 million")
Godrej Interio aims to ride e-commerce wave, targets 18-20% growth
The firm's parent company has planned an investment of Rs 100 crore for its digital revamp, customer experience, and sales growth through ecommerce for the next year
 "Godrej Interio aims to ride e-commerce wave, targets 18-20% growth")
Realigning global business lines to match clients' demands: Wipro
The technology services line is a merger of its previous cloud capabilities (Wipro FullStride Cloud) and data, application platform, digital operations, and cybersecurity (Wipro Enterprise Futuring)
 "Realigning global business lines to match clients' demands: Wipro")
Steelbird targets 3-fold revenue growth by 2030; to expand production
Steelbird now manufactures 10 million units at its Baddi facility, which it aims to take up to 25 million by 2032, besides adding another facility in the state in the next four years
 "Steelbird targets 3-fold revenue growth by 2030; to expand production")
IIT-B startup HaystackAnalytics plans to take genome testing to EU, US
Srivastava says that in the next five years they need to invest another $40-50 million or so to build the business, and there are plans to take the infexn test to the US and Europe as well
 "IIT-B startup HaystackAnalytics plans to take genome testing to EU, US")
Tata Sons set to invest Rs 1,432 cr in rights issue of Tata Projects
Conglomerate's engineering and construction company gets board approval for fundraising
 "Tata Sons set to invest Rs 1,432 cr in rights issue of Tata Projects")
Firms pull back on investor meets amid weaker earnings, bearish sentiment
While sectors like services and telecommunications have continued to increase engagement, the overall number of meetings across companies has fallen by over 7.4 per cent from its peak
 "Firms pull back on investor meets amid weaker earnings, bearish sentiment")
Infosys to pay $17.5 million to settle data breach case in BPM unit
McCamish, bought by Infosys BPM in 2009, is a platform-based BPO firm that provides life insurance and retirement software solutions and service offerings in the US
 "Infosys to pay $17.5 million to settle data breach case in BPM unit")
Brigade Enterprises launches Rs 2,700 cr housing project in Bengaluru
As per the PropEquity data, housing sales in Bengaluru fell 9 per cent to 60,506 units in 2024, from 66,600 units in the preceding year
 "Brigade Enterprises launches Rs 2,700 cr housing project in Bengaluru")