Page 387 - Company News
L&T targets 150 MW data centre capacity by 2027, to utilise land banks
At present, L&T has operational data centres in Mumbai and Chennai, with a combined capacity of 32 Mw
 "L&T targets 150 MW data centre capacity by 2027, to utilise land banks")
After selling 10% stake, Haldiram's to sell another 5% to other investors
Other private equity players that were in the race to acquire a stake in the snacks major backed out, citing very high valuations
 "After selling 10% stake, Haldiram's to sell another 5% to other investors")
Patanjali buys majority stake in Magma General Insurance for Rs 4,500 cr
Magma General Insurance, with presence across motor, health, property, and other commercial lines, reported a gross written premium (GWP) of Rs 3,295 crore in 2023-24 (FY24)
 "Patanjali buys majority stake in Magma General Insurance for Rs 4,500 cr")
CLSA lowers target price for IndusInd Bank to Rs 900 but sees 34% upside
Near term fraught with uncertainty but if history is a guide fundamentals could drive a recovery, says the brokerage
 "CLSA lowers target price for IndusInd Bank to Rs 900 but sees 34% upside")
ICAI may review IndusInd Bank's financials amid recent discrepancies
On March 10, the private sector lender disclosed some discrepancies in its derivatives portfolio, which could have an adverse impact of about 2.35 per cent of the bank's net worth as of December 2024
 "ICAI may review IndusInd Bank's financials amid recent discrepancies")
Jio's home broadband subscribers 90% more than Bharti Airtel's: CLSA
Airtel expanded 5G FWA to 2,000 cities, 70% of Jio's new subs in the category from rural India
 "Jio's home broadband subscribers 90% more than Bharti Airtel's: CLSA")
BP seeks to sell 50% of solar unit to strategic partner, bids due in June
London-listed BP is planning asset sales and partnerships as part of a broader plan to address investor concerns. The energy group wants to cut costs and improve its return on investments
 "BP seeks to sell 50% of solar unit to strategic partner, bids due in June")
TCS appoints insider Sudeep Kunnumal as CHRO, effective March 14
Kunnumal replaces Milind Lakkad, who is stepping down upon his superannuation
 "TCS appoints insider Sudeep Kunnumal as CHRO, effective March 14")
Infosys to hold trainee assessment on March 18 after postponement
The company, in February, said the third attempt of the Generic FA2 assessment was being rescheduled to allow the employees more time to prepare
 "Infosys to hold trainee assessment on March 18 after postponement")
HDFC MF holding in IndusInd Bank crosses 5% with additional 1.6 mn shares
The stake increase comes a day after IndusInd Bank announced a whopping Rs 2,100 crore discrepancy in accounting with an estimated impact of 2.35 per cent of the bank's net worth
 "HDFC MF holding in IndusInd Bank crosses 5% with additional 1.6 mn shares")
Indian govt asks Ahmedabad court to serve US SEC summons to Gautam Adani
The summons would require Gautam Adani or his legal counsel to appear in the case in the United States
 "Indian govt asks Ahmedabad court to serve US SEC summons to Gautam Adani")
SpiceJet MD Ajay Singh sells 0.9% stake in company for Rs 52 crore
According to the bulk deal data on the BSE, Ajay Singh sold over 11.5 million shares, amounting to a 0.9 per cent stake in Gurugram-based SpiceJet
 "SpiceJet MD Ajay Singh sells 0.9% stake in company for Rs 52 crore")
US FTC dismisses Amazon trial delay, insists DOGE cuts won't derail case
FTC reverses claim of resource constraints, says Amazon trial will proceed as scheduled despite DOGE-driven budget cuts and staff reductions under the Trump administration
 "US FTC dismisses Amazon trial delay, insists DOGE cuts won't derail case")
Datta Power Infra, SJVN sign agreement for 70 MW wind project in India
The company has a presence across states like Odisha, Chhattisgarh, Madhya Pradesh, Tamil Nadu, Andhra Pradesh, Karnataka, Maharashtra, and Rajasthan
 "Datta Power Infra, SJVN sign agreement for 70 MW wind project in India")
Apollo Hospitals expands AI to reduce doctor, nurse workload in India
The Chennai-based hospital chain is also working on an AI tool that will help clinicians prescribe the most effective antibiotic suitable to treat the illness
 "Apollo Hospitals expands AI to reduce doctor, nurse workload in India")
Jio Finance taps debt market with debut CP issue before bond sale
The non-banking finance company has issued three-month CPs at a yield of 7.80 per cent and accepted bids worth ₹1,000 crore ($114.95 million)
 "Jio Finance taps debt market with debut CP issue before bond sale")
Drugmakers Mallinckrodt, Endo agree to merge in nearly $7 billion deal
Endo shareholders will get $80 million in cash and own 49.9 per cent of the combined company, while Mallinckrodt shareholders will own the rest for an enterprise value of $6.7 billion
 "Drugmakers Mallinckrodt, Endo agree to merge in nearly $7 billion deal")
Gensol Engineering to raise Rs 600 cr via FCCBs, promoter warrants
This Rs 600 crore fundraise, coupled with the strategic divestments, will be crucial in strengthening and positioning the company for sustained growth
 "Gensol Engineering to raise Rs 600 cr via FCCBs, promoter warrants")
Loca Loka plans to enter India by October, targets 1 mn bottles in 3 years
The company is set to launch Añejo tequila in Miami and Las Vegas this May. India will get all three variants
 "Loca Loka plans to enter India by October, targets 1 mn bottles in 3 years")
Tata Motors returns in Sri Lanka with all-new passenger vehicle portfolio
The company in partnership with its sole authorised distributor in Sri Lanka, DIMO, launched a range of SUVs - Punch, Nexon, and the Curvv, along with its popular electric hatchback, Tiago.ev
 "Tata Motors returns in Sri Lanka with all-new passenger vehicle portfolio")