Page 685 - Company News
I believe in creative destruction: Ola founder on new motorbike prices
Aggarwal said that people should already know how he is going to price the products and expressed confusion over why people are surprised
 "I believe in creative destruction: Ola founder on new motorbike prices")
CG Power and Industrial completes acquisition of G G Tronics for Rs 319 cr
In a BSE filing on Tuesday, the company said it has completed the acquisition of G G Tronics on August 20
 "CG Power and Industrial completes acquisition of G G Tronics for Rs 319 cr")
CCI approves Rs 4,630 cr deal between Warburg Pincus, Shriram Housing
The proposed combination envisages inter alia the acquisition of shareholding in Shriram Housing Finance Ltd by Mango Crest Investment Ltd
 "CCI approves Rs 4,630 cr deal between Warburg Pincus, Shriram Housing")
Phoenix invites bids from ARCs for sale of Rs 3,550 crore retail NPA
The private sector ARC has set a deadline of August 26 for interested entities to submit expressions of interest (EoIs) for the assets on offer
 "Phoenix invites bids from ARCs for sale of Rs 3,550 crore retail NPA")
Petronet LNG signs agreement with Sri Lankan govt for power generation
The Sri Lankan Minister of Power and Energy, Kanchana Wijesekera, and the Deputy High Commissioner of India, Satyanjal Pandey, signed the MoU at a ceremony here
 "Petronet LNG signs agreement with Sri Lankan govt for power generation")
Ikea to electrify all deliveries in India by 2025, expand EV fleet by 40%
Currently, 88% of Ikea's deliveries in India are made using electric vehicles
 "Ikea to electrify all deliveries in India by 2025, expand EV fleet by 40%")
Zomato zooms past Swiggy in terms of growth in July, captures more market
Zomato and Swiggy are both leading industry players in the online food delivery market and quick commerce segment
 "Zomato zooms past Swiggy in terms of growth in July, captures more market")
Ikea pilots same-day delivery in Hyderabad, hits 100% EV delivery goal
As part of its sustainability strategy, Swedish furniture giant Ikea has committed to entering all new markets, including the Delhi-NCR region, with an EV-first approach
 "Ikea pilots same-day delivery in Hyderabad, hits 100% EV delivery goal")
Grasim records Rs 1.30 trillion revenue for FY24, driven by cement business
For FY24, Aditya Birla Group's flagship company, Grasim Industries' board of directors has proposed a dividend of Rs 10 per equity share, amounting to a total cash outflow of Rs 669 crore
 "Grasim records Rs 1.30 trillion revenue for FY24, driven by cement business")
Nothing CEO asks staffers to resume in-office work, cites these 3 reasons
Carl Pei acknowledged that the decision might not be universally popular, recognising that many companies have adopted remote or hybrid models since the Covid-19 pandemic
 "Nothing CEO asks staffers to resume in-office work, cites these 3 reasons")
Tata Chemicals raises Rs 1,700 cr through NCDs on private placement basis
The NCDs have a fixed rate coupon of 7.81 per cent and have been issued based on multiple yield allotment method
 "Tata Chemicals raises Rs 1,700 cr through NCDs on private placement basis")
IPL 2023 boosts BCCI's surplus to Rs 5,120 crore, a 116% increase from 2022
BCCI's 2022-23 annual report shows that IPL 2023 revenue surged 78% year-on-year to Rs 11,769 crore, with expenses increasing 66 per cent to Rs 6,648 crore
 "IPL 2023 boosts BCCI's surplus to Rs 5,120 crore, a 116% increase from 2022")
TCS launches latest Pace Studio in Stockholm, first in Nordic region
Indian IT company's facility will offer customers access to an innovation ecosystem
 "TCS launches latest Pace Studio in Stockholm, first in Nordic region")
Zomato shares worth Rs 5,438 cr sold in block deal, Antfin likely seller
Antfin Singapore Holding, which previously held a 4.3% stake in Zomato, will face a 90-day lock-in period before it can further dilute its equity following the sale
 "Zomato shares worth Rs 5,438 cr sold in block deal, Antfin likely seller")
Hi-Tech Pipes bags Rs 100 cr pipe supply order; plans to raise Rs 600 cr
The orders for supplying ERW (electric resistance welded) steel pipes, totalling Rs 105 crore, came from key customers in the renewable energy sector, according to the statement
 "Hi-Tech Pipes bags Rs 100 cr pipe supply order; plans to raise Rs 600 cr")
KPMG India ties up with Zscaler to help organisations deal with cyber risks
KPMG India-Zscaler alliance will offer broad security services to help organisations understand and effectively manage cyber threats, unique to their businesses
 "KPMG India ties up with Zscaler to help organisations deal with cyber risks")
Shapoorji Pallonji to take its real-estate arm public in 2 years: Report
In the first phase, Shapoorji Pallonji Real Estate aims to raise around $800-900 million through an IPO of about 10-12 per cent stake
 "Shapoorji Pallonji to take its real-estate arm public in 2 years: Report")
BHIVE to add 3 mn sqft over next 2 yrs, eyes Rs 350 cr revenue in FY25
Over the past two years, BHIVE has expanded its managed office portfolio by adding 1.5 million square feet
 "BHIVE to add 3 mn sqft over next 2 yrs, eyes Rs 350 cr revenue in FY25")
Licious expands offline presence, plans to open 25 stores in FY25
Licious plans to first establish a strong offline presence in Bengaluru before expanding to cities like Chennai and Mumbai
 "Licious expands offline presence, plans to open 25 stores in FY25")
Infosys could earn over $100 mn from Coca-Cola's cloud deal with Microsoft
IT service providers like Infosys can capture around 15% to 20% of cloud migration deals
 "Infosys could earn over $100 mn from Coca-Cola's cloud deal with Microsoft")