Page 416 - Company News
Bank of India to pare stake in STCI Finance to meet RBI's proposed norms
A senior BoI executive told Business Standard that RBI's draft norms propose that banks engaged in the same activity as NBFCs should reduce their stake
 "Bank of India to pare stake in STCI Finance to meet RBI's proposed norms")
Oberoi partners with Ladhani Group for two new resorts in Rishikesh
The first will be an 80-key luxury Oberoi resort that will carry "Vilas" name, while second will be a distinctive 120-key five-star hotel under Trident branding, the company stated in a release
 "Oberoi partners with Ladhani Group for two new resorts in Rishikesh")
Power Finance shoulders Adani Green's $1 bn construction-linked loan
The lender is said to have offered a fixed rate loan for the full term with a commitment to hold it until maturity at the end of 19 years
 "Power Finance shoulders Adani Green's $1 bn construction-linked loan")
My11Circle partners with JioStar as co-presenting partner for IPL streaming
Apart from this, My11Circle is also the official associate partner of the IPL, which is in the second year of its five-year association with the marquee tournament
 "My11Circle partners with JioStar as co-presenting partner for IPL streaming")
Hilton's Signia debuts in Asia-Pacific market with Jaipur hotel in 2028
The 216-room hotel will be developed in partnership with Sandeep Bakshi and Family LLP and will be Hilton's third offering in Rajasthan after Hilton Jaipur and DoubleTree in Jaipur-Amer
 "Hilton's Signia debuts in Asia-Pacific market with Jaipur hotel in 2028")
Sebi permits all NBFCs, HFCs to invest in security receipts by ARCs
This has widened the scope of participants who can acquire security receipts from ARCs, thereby boosting liquidity in the distressed asset market
 "Sebi permits all NBFCs, HFCs to invest in security receipts by ARCs")
Nissan Motor India total sales up 44.76% at 8,567 units in February
In February 2025, domestic sales accounted for 2,328 units, down from 2,755 units in the same month last year
 "Nissan Motor India total sales up 44.76% at 8,567 units in February")
Microchip Technology to lay off 2,000 employees amid weak automotive demand
The company expects to incur between $30 million and $40 million of costs related to the layoffs, consisting of cash severance and related restructuring expenses
 "Microchip Technology to lay off 2,000 employees amid weak automotive demand")
Larsen & Toubro wins major power transmission orders in India, overseas
In India, L&T has been awarded a contracts in UP and southern India, while overseas, L&T has secured projects in Saudi Arabia and UAE
 "Larsen & Toubro wins major power transmission orders in India, overseas")
Centre grants 'Navratna' status to IRCTC and IRFC: Here's what it means
The government has approved the elevation of IRCTC and IRFC to Navratna CPSEs, making them the 25th and 26th 'Navratnas' among Central Public Sector Enterprises (CPSEs)
 "Centre grants 'Navratna' status to IRCTC and IRFC: Here's what it means")
Hindustan Power to invest Rs 620 cr in solar, battery projects in Assam
The investment will drive the development of a 100 MW solar power plant alongside a battery energy storage system
 "Hindustan Power to invest Rs 620 cr in solar, battery projects in Assam")
Paytm parent failed to file required reports to RBI: ED on Rs 611 cr notice
The show cause notice has been issued to Paytm's flagship company One 97 Communication limited (OCL), its managing director and other Paytm subsidiary companies
 "Paytm parent failed to file required reports to RBI: ED on Rs 611 cr notice")
Jupiter Electric aims ₹100 cr revenue from electric light CV biz in 1st yr
With an initial annual capacity of 8,000 to 10,000 e-LCVs, JEM has set its sights on ambitious growth, aiming to significantly ramp up production volumes in the future
 "Jupiter Electric aims ₹100 cr revenue from electric light CV biz in 1st yr")
Ikea begins online delivery in Delhi-NCR, nine other North Indian cities
Ikea has launched online delivery in Delhi-NCR and nine other North Indian cities, allowing customers to shop via its website, app, and Shop by Phone service ahead of its store openings
 "Ikea begins online delivery in Delhi-NCR, nine other North Indian cities")
PwC India launches programme to mentor 15 startups in blockchain, AI
The accelerator programme is aimed at driving innovation and supporting India's vibrant startup ecosystem
 "PwC India launches programme to mentor 15 startups in blockchain, AI")
Cement demand to exceed 640 mn tonnes per annum by FY30, says UltraTech
It expects the cement demand to have a compound annual growth rate (CAGR) of 7 to 8 per cent between FY24 and FY30
 "Cement demand to exceed 640 mn tonnes per annum by FY30, says UltraTech")
Coal India sets 788 MT production, 765 MT offtake; rules out price cut
In FY'24, the company achieved production of 773.65 MT, reflecting a 10 per cent year-on-year growth
 "Coal India sets 788 MT production, 765 MT offtake; rules out price cut")
EV major Ola Electric lays off over 1,000 employees amid mounting losses
SoftBank-backed Ola Electric has laid off over 1,000 employees as part of a restructuring move to cut costs and improve margins, even as it struggles with mounting losses and rising competition
 "EV major Ola Electric lays off over 1,000 employees amid mounting losses")
Adani Green raises $1.06 bn for debt refinance, first since US indictment
Adani Green Energy Ltd had earlier shelved its planned $600 million bond offering in November 2024 following the US indictment of key executives, including Chairman Gautam Adani
 "Adani Green raises $1.06 bn for debt refinance, first since US indictment")
Shriram Finance plans loan, adding to record $2 billion borrowing
The non-banking financial company plans to raise the funds through a three-year loan, according to Parag Sharma, managing director and chief financial officer at Shriram Finance
 "Shriram Finance plans loan, adding to record $2 billion borrowing")