Page 539 - Company News
Tractor industry festive sales may grow 8-10% in FY25: Escorts Kubota CFO
Tractor sales in the festive months, spanning from September to November, are expected to grow 8-10 per cent this year on the back of good monsoon lifting market sentiments
 "Tractor industry festive sales may grow 8-10% in FY25: Escorts Kubota CFO")
Never entered into agreement to operate airport in Kenya: Adani Group
The group was responding to notices sent by stock exchanges to confirm reports of Kenyan President William Ruto ordering the cancellation of a procurement process
 "Never entered into agreement to operate airport in Kenya: Adani Group")
Myntra pilots foray into quick commerce with 'M-Now' in parts of Bengaluru
The pilot project, "M-Now," is operational in a few pin codes in Bengaluru and offers a limited selection of products "to see how it works"
 "Myntra pilots foray into quick commerce with 'M-Now' in parts of Bengaluru")
CESC secures LoI for Rs 871 cr deal to acquire Chandigarh power firm
The financial bidding process saw CESC outbidding competitors such as Torrent Power, NTPC Ltd, and ReNew Power, which had quoted Rs 606 crore, Rs 563 crore, and Rs 551 crore respectively
 "CESC secures LoI for Rs 871 cr deal to acquire Chandigarh power firm")
US SEC summons Gautam Adani, nephew Sagar in alleged bribery case
Summons have been sent to Adani's Shantivan Farm residence in Ahmedabad and his nephew Sagar's Bodakdev residence in the same city for a reply to SEC within 21 days
 "US SEC summons Gautam Adani, nephew Sagar in alleged bribery case")
Signature Global to launch housing projects worth Rs 50K cr in next 3yrs
The company has already acquired land in Gurugram and adjoining areas to launch multiple projects
 "Signature Global to launch housing projects worth Rs 50K cr in next 3yrs")
Adani Group to respond to US bribery allegations after legal review
Adani Group has denied any wrongdoing and said it would seek all possible legal recourse to defend itself
 "Adani Group to respond to US bribery allegations after legal review")
Adani CFO defends against US charges, says linked to one business contract
Group CFO Jugeshinder Singh sought to defend allegations saying none of Adani's 11 public companies 'are subject to indictment' or 'are accused of any wrongdoing in the said legal filing'
 "Adani CFO defends against US charges, says linked to one business contract")
'No indictments against our 11 public companies': Adani CFO on US report
Adani Group CFO Jugeshinder Singh dismissed the allegations as 'baseless,' assuring stakeholders of no direct involvement by any Adani entity in unlawful acts
 "'No indictments against our 11 public companies': Adani CFO on US report")
Advent likely to sell Manjushree Technopack for nearly $1 billion to PAG
Founded in 1983, Manjushree has 21 locations across India, with its headquarters in Bengaluru, according to Advent's website
 "Advent likely to sell Manjushree Technopack for nearly $1 billion to PAG")
Strong Q2 performance, growth outlook drive gains for Info Edge stock
In its pre-quarter update, Info Edge had already disclosed a 14.3 per cent Y-o-Y growth in standalone billings, highest in the last 6 quarters
 "Strong Q2 performance, growth outlook drive gains for Info Edge stock")
Adani group: State Bank of India has Rs 33,800 cr exposure, shows data
Meanwhile, among private banks, who only 4 per cent share in Adani group's debt, Yes Bank, ICICI Bank, IDBI Bank, and IndusInd Bank, and others have substantial exposure to the group
 "Adani group: State Bank of India has Rs 33,800 cr exposure, shows data")
Maruti Suzuki looks beyond top 10 markets to boost CNG car sales
90% of firm's sales in the category comes from 10 states
 "Maruti Suzuki looks beyond top 10 markets to boost CNG car sales")
Adanis knew of US probe when they sold assets to TotalEnergies: Prosecutors
TotalEnergies bought a 20% stake in Adani Green Energy in January 2021 - after the Indian company won what was then the world's largest solar order
 "Adanis knew of US probe when they sold assets to TotalEnergies: Prosecutors")
Adani saga: SECI, NTPC top power contractors for Adani Green Energy
AGEL's plans to increase its capacity more than five-fold to 50 GW by 2030
 "Adani saga: SECI, NTPC top power contractors for Adani Green Energy")
HDFC Bank securitises new car loans of over Rs 12,700 crore via PTCs
The rating agency has assigned an "AAA/stable" rating to these PTCs, which have different maturity periods ranging between two and six years
 "HDFC Bank securitises new car loans of over Rs 12,700 crore via PTCs")
Global lenders may freeze fresh credit to Adani firms, await govt reaction
The banker said most of the group firms have stable cash flows and are not in "desperate need" to raise capital
 "Global lenders may freeze fresh credit to Adani firms, await govt reaction")
S&P Global revises its outlook on three Adani entities to 'negative'
S&P Global Ratings in a statement said US indictment of three board representatives of Adani Group entity could affect investor confidence in other group entities
 "S&P Global revises its outlook on three Adani entities to 'negative'")
Adani group firms' debt to equity ratio at 15-year low in H1 FY25
In post-Covid period, their net worth has grown at a faster clip than borrowing
Advent agrees to sell Manjushree Technopack to PAG for nearly $1 billion
With the signing of the sale, Advent will withdraw the IPO application from Sebi, said one of the sources
 "Advent agrees to sell Manjushree Technopack to PAG for nearly $1 billion")