Page 677 - Company News
DGCA places Spicejet under surveillance after audit reveals deficiencies
A senior DGCA official said that based on reports of cancellation of flights and financial stress being experienced by Spicejet Airlines, a special audit was conducted
 "DGCA places Spicejet under surveillance after audit reveals deficiencies")
Nokia to set up world's largest fixed network testbed in Chennai
The centre, involving an investment of about Rs 450 crore, will be one of Nokia's largest research and development (R&D) laboratories (labs)
 "Nokia to set up world's largest fixed network testbed in Chennai")
Singapore Airlines receives FDI approval for Air India-Vistara merger
With the clearance in place, the merger that will see Singapore Airlines acquiring a 25.1 per cent stake in Air India
 "Singapore Airlines receives FDI approval for Air India-Vistara merger")
Honda Shine revs past Bajaj Pulsar as second best-selling motorcycle
Unicorn's sales swelled 117.6 per cent Y-o-Y to 163,090 units in the January-July period this year, making it the ninth best-selling motorcycle model in the country
 "Honda Shine revs past Bajaj Pulsar as second best-selling motorcycle")
AI technology should not be a luxury reserved for a few, says Mukesh Ambani
Jio Brain unveiled to streamline AI
 "AI technology should not be a luxury reserved for a few, says Mukesh Ambani")
Jio now world's largest data company, carries 8% of global traffic: Ambani
JioAirFiber, the company's 5G-based home Wi-Fi service launched in October last year, acquired 1 million customers in the first six months, and the next 1 million in succeeding 100 days, Ambani said
 "Jio now world's largest data company, carries 8% of global traffic: Ambani")
Reliance Retail eyes 2x rise in biz, luxe jewellery foray: Isha Ambani
Firm's grocery business is one of the fastest-growing, says Isha Ambani
 "Reliance Retail eyes 2x rise in biz, luxe jewellery foray: Isha Ambani")
Tencent sells 2.1% stake in PB Fintech for Rs 1,668 cr; SBI MF, SocGen pick
Tencent Cloud Europe BV, an affiliate of Shenzhen-based technology multinational Tencent, offloaded 97 lakh shares in 15 tranches, amounting to a 2.13 per cent stake in PB Fintech
 "Tencent sells 2.1% stake in PB Fintech for Rs 1,668 cr; SBI MF, SocGen pick")
Cash crisis: SpiceJet puts 150 cabin crew on furlough for 3 months
The airline, which has been making losses for the last six years, has been finding it difficult to pay employee salaries, sources mentioned
 "Cash crisis: SpiceJet puts 150 cabin crew on furlough for 3 months")
Reliance Industries to consider bonus issue of shares, a first in 7 years
Aims to be among world's top 30 firms; silent on listing of retail, telecom units
RIL boosts shares to record, Nifty logs longest gaining streak in 17 yrs
The NSE Nifty 50 and the S&P BSE Sensex both rose about 0.6% to hit all-time highs, before trimming some gains to settle up 0.4% at record closing levels
 "RIL boosts shares to record, Nifty logs longest gaining streak in 17 yrs")
IndiGo cofounder Gangwal sells $1.3 bn worth stake near record high
Gangwal has a fortune of $6.9 billion after adding $1.8 billion this year, according to the Bloomberg Billionaires Index, with one-third of that move coming in the past 10 days alone
 "IndiGo cofounder Gangwal sells $1.3 bn worth stake near record high")
Tata shelves plans for IPO of media unit after buying out Temasek
Tata may seek a valuation of more than $1 billion for the entertainment business in any potential share sale
 "Tata shelves plans for IPO of media unit after buying out Temasek")
GE Power India announces appointment of Puneet Bhatla as new MD from Sep
Puneet is no longer falling under the definition of "senior management" as per listing regulations.
 "GE Power India announces appointment of Puneet Bhatla as new MD from Sep")
LIC receives demand notice of Rs 605.58 cr for short payment of GST
The corporation has received a communication/demand order for interest and penalty for Maharashtra, LIC said in a regulatory filing
 "LIC receives demand notice of Rs 605.58 cr for short payment of GST")
Hyundai plots SUV rollout in India as local competition mounts ahead of IPO
The SUV rollout will begin with its first India-made electric vehicle early next year
 "Hyundai plots SUV rollout in India as local competition mounts ahead of IPO")
SaaS major Zoho forays into fintech space, launches Zoho Payments
According to the ministry of finance data, digital payment transactions volume reached a staggering Rs 11,660 crore in 2023 from Rs 3,134 crores in 2018-19
 "SaaS major Zoho forays into fintech space, launches Zoho Payments")
Govt receives Rs 5,091 cr from Indian oil corp as dividend tranche
During the current financial year 2024-25, so far Rs 10,604.74 crore has been obtained through dividend from the CPSEs
 "Govt receives Rs 5,091 cr from Indian oil corp as dividend tranche")
NHPC secures shareholders nod to hike borrowing limit to Rs 50,000 cr
he tentative debt requirement for both ongoing projects and new projects up to FY 2032-33 as per CAPEX requirements will be approx Rs 80,000 crore
 "NHPC secures shareholders nod to hike borrowing limit to Rs 50,000 cr")
Infosys, Nvidia expand ties to develop GenAI-powered solutions for telcos
The IT major has developed three generative AI solutions powered by its AI-offering Topaz, which make use of NVIDIA NIM inference microservices
 "Infosys, Nvidia expand ties to develop GenAI-powered solutions for telcos")