Page 656 - Company News
HC asks for Centre's stand on plea over 'misbranding' of Patanjali product
The law does not mandate declaration of a 'drug' as vegetarian or non-vegetarian but the packaging of 'Divya Dant Manjan' wrongly carries a 'green dot', which qualifies as 'misbranding'
 "HC asks for Centre's stand on plea over 'misbranding' of Patanjali product")
StartupTN got funding of Rs 80 cr, formed partnerships with 200 VCs: CEO
StartupTN aims to nurture a vibrant startup ecosystem in the state to encourage innovation and entrepreneurship-driven employment and economic growth
 "StartupTN got funding of Rs 80 cr, formed partnerships with 200 VCs: CEO")
RBI imposes penalty of Rs 2.68 cr on UCO Bank violation of provisions
The RBI has also imposed a penalty of Rs 2.1 lakh on Cent Bank Home Finance Ltd for non-compliance
 "RBI imposes penalty of Rs 2.68 cr on UCO Bank violation of provisions")
Shriram Properties to focus on mid-segments; eyes doubling annual sales
Executive Director and Group CEO Gopalakrishnan noted that his company turned profitable last financial year and reported a profit of Rs 75 crore
 "Shriram Properties to focus on mid-segments; eyes doubling annual sales")
Sebi approves IIHL's acquisition of PMS business unit of Invesco AMC
The Competition Commission of India (CCI) has already granted its consent to IIHL for acquiring 60 per cent shareholding in each of InvescoAsset Management (India) Pvt Ltd and Invesco Trustee Pvt Ltd
 "Sebi approves IIHL's acquisition of PMS business unit of Invesco AMC")
Adani Ports to acquire 80% stake in Astro Offshore for $185 million
The company in a statement said the existing promoters of Astro will hold the remaining 20 per cent stake
 "Adani Ports to acquire 80% stake in Astro Offshore for $185 million")
ED attaches Rs 834 cr land of Emaar India, MGF Developments under PMLA
The attached properties, spanning 401.65 acres in Gurugram and Delhi, are linked to an ongoing investigation into fraudulent land acquisitions
 "ED attaches Rs 834 cr land of Emaar India, MGF Developments under PMLA")
Zydus Lifesciences gets USFDA nod to mkt Scopolamine transdermal system
The Scopolamine transdermal system will be produced at the group's transdermal manufacturing site at SEZ, Matoda, Ahmedabad, it added
 "Zydus Lifesciences gets USFDA nod to mkt Scopolamine transdermal system")
Toyota Kirloskar, Union Bank of India partner for vehicle loaning solutions
Besides, private vehicle customers can opt for flexible tenures up to 7 years with interest rates starting from 8.8 per cent per annum
 "Toyota Kirloskar, Union Bank of India partner for vehicle loaning solutions")
BPCL planning to setup refining-cum-petrochemical complex in 5-7 years
BPCL's healthy balance sheet, currently at zero net-debt at standalone level, allows for these investments without compromising financial stability
 "BPCL planning to setup refining-cum-petrochemical complex in 5-7 years")
Max Estates launches QIP, plans to raise Rs 800 cr for business growth
According to sources, all major domestic mutual fund companies have participated in the Qualified Institutional Placement (QIP) issue
 "Max Estates launches QIP, plans to raise Rs 800 cr for business growth")
Akums Drugs strengthens global presence with European market expansion
The decision to enter the European market comes at a time when the global pharmaceutical landscape is undergoing changes
 "Akums Drugs strengthens global presence with European market expansion")
BPCL plans refining, petchem projects over 5-7 years to meet energy demand
India's annual consumption of refined fuels and petrochemicals is expected to rise steadily by 4-5 per cent and 7-8 per cent in the 'foreseeable future'
 "BPCL plans refining, petchem projects over 5-7 years to meet energy demand")
HDFC Bank to sell Rs 10k cr in loan portfolios via pass-through certificate
HDFC Bank will use a rare debt instrument known as pass-through certificates to sell loan portfolios worth up to Rs 10,000 crore ($1.2 billion)
 "HDFC Bank to sell Rs 10k cr in loan portfolios via pass-through certificate")
Balmer Lawrie eyes Rs 6K cr revenue by 2030, to hire consultant for growth
The company, which operates across several business verticals has a current revenue of Rs 2,400 crore
 "Balmer Lawrie eyes Rs 6K cr revenue by 2030, to hire consultant for growth")
Farewell Vistara! Airline to operate its final flight on November 11
Vistara-Air India merger: Vistara's final flight will take off on November 11, with all future bookings transitioning to Air India. Vistara will cease bookings for flights after that day
 "Farewell Vistara! Airline to operate its final flight on November 11")
Mahindra Group, Sentrycs ink pact for development of anti-drone solutions
The MoU relates to the 'anti-drone systems' technology space and will focus on the Transfer of Technology (TOT) and manufacturing of radio frequency-based counter-drone solutions
 "Mahindra Group, Sentrycs ink pact for development of anti-drone solutions")
Will Wipro go for campus hiring this year? Here's what the company said
The IT giant is planning to hire 10,000-12,000 freshers in this fiscal year in the areas of GenAI, cybersecurity, and cloud. However, the focus remains on off-campus hiring, the firm said
 "Will Wipro go for campus hiring this year? Here's what the company said")
Cognizant puts up Chennai office on market, eyes up to Rs 800 crore deal
This property has been the company's India headquarters for over twenty years. It is spread over a 15-acre land parcel and comprises a four lakh sq ft office space
 "Cognizant puts up Chennai office on market, eyes up to Rs 800 crore deal")
Adani Group invests Rs 2,000 crore in Dharavi redevelopment project
The Dharavi Redevelopment Project, the largest slum redevelopment initiative in Asia, will cover 640 acres in Mumbai. It is a joint venture between the Adani Group and the Maharashtra government
 "Adani Group invests Rs 2,000 crore in Dharavi redevelopment project")