Page 620 - Company News

RBI lifts restrictions imposed on IIFL Finance's gold loan business

On March 4, 2024, the RBI imposed restrictions on IIFL Finance after observing deviations in assaying and certifying purity and net weight of gold at time of sanctioning loans and at time of auction

Cisco's second 2024 layoff: 5,600 jobs cut, shifts focus to AI growth

Earlier in the year, Cisco reduced its workforce by 4,000 employees in a previous round of layoffs that took place in February

Motilal Oswal Foundation pledges Rs 130 cr to IIT-B for academic upgrade

Amount to be used for upgrading academic facilities and research infrastructure

Google's plea against CCI order in android mobile case mentioned in SC

At the outset of day's proceedings, senior advocate Harish Salve, appearing for the tech giant, mentioned the plea and said the hearing in the case may take five-six days

Samsung sues Indian labour union over strike that disrupted production

Samsung workers have since Sept 9 disrupted work and protested in makeshift tent, demanding higher wages and recognition of union that contributes a third of Samsung's annual India revenue of $12 bn

PDG plans infusing $1 bn for expansion in India amid AI data center boom

The investment will bring PDG's capacity to 230 MW across two major hubs, Mumbai and Chennai

Salesforce keen on expanding in India, to invest more in Hyderabad, B'luru

Making it clear that firm does not look at India from a cost arbitrage perspective when it comes to employees, country head Arundhati Bhattacharya said it does not see any shortage of talent in India

France's Thomson enters Indian audio market with launch of TV soundbars

As part of SPPL, it has invested Rs 50 crore to set up a new manufacturing unit at its existing Noida plant, which will produce half a million units in a year, CEO Avneet Singh Marwah added

Shadow lender IIFL Finance faces rating downgrade risk on gold loan ban

IIFL fell under regulatory scrutiny in March amid a crackdown on financial firms, when it was asked by RBI to stop disbursing new gold-backed lending following 'material supervisory concerns'

HDFC Bank likely to close $1 billion loan sale this month: Report

HDFC Bank merged with parent Housing Development Finance Corp in July 2023, adding a large pool of mortgage loans to the bank's portfolio but a much smaller amount of deposits

Shadow lender IIFL Finance faces rating downgrade risk on gold loan ban

IIFL fell under regulatory scrutiny in March amid a crackdown on financial firms, when it was asked by RBI to stop disbursing new gold-backed lending following 'material supervisory concerns'

AM/NS India invests Rs 1K crore for new production line in Gujarat

Magnelis is a flat carbon steel with zinc-aluminium-magnesium alloy coating on both the sides

SpiceJet gets good response for Rs 3k cr worth share sale, oversubscribed

Operating with a reduced fleet as well as facing financial and legal headwinds, the carrier is looking to raise funds

Suniel Shetty-backed zero-commission food delivery app Waayu Joins ONDC

Launched in May 2023, the app has partnered with over 3,000 restaurants across cities like Mumbai, Pune, Jaipur, Bengaluru, and Hyderabad

SC rejects telecom firms' pleas in AGR case; Vi shares plunge 10%

The rejection of the final legal remedy leaves Vodafone Idea with limited options, worsening its financial struggles amid fierce competition and heavy debt

Morgan Stanley secures Rs 2,122 cr office lease for 16 floors in Mumbai

The office space spanning 1.1 million square feet in Mumbai's Goregaon suburb is one of the largest commercial real estate deals in India

Hero MotoCorp's e-scooters to debut in the UK and EU markets in 2025

Indian automaker Hero MotoCorp will be entering the UK, France, and Spain markets with its Vida e-scooters

Maruti Suzuki to set up 25,000 EV charging stations ahead of eVX launch

Maruti plans to price the eVX between Rs 20-25 lakh and aims to sell 3,000 units within the first three months of its release

India IPO frenzy continues as NTPC Green Energy plans $1.2 bn listing

The IPO boom comes as India's rapid economic expansion makes it a bright spot amid challenges facing peers such as China

Pokemon sues adventure game 'Palworld' producer for patent infringement

The Pokemon Company and Nintendo have sued Pocketpair, the creator of the hit adventure game 'Palworld'. The lawsuit alleges patent infringement against the popular game, launched earlier this year