Page 686 - Company News
Kellanova acquisition likely to be a sweet truth for Mars in India
Experts say Mars stands to gain with Kellogg's rural reach and also have a larger portfolio to offer in modern trade, e-commerce
 "Kellanova acquisition likely to be a sweet truth for Mars in India")
Adani Group touts cash, says enough liquidity for 30 months debt payment
Adani Enterprises - the business incubator of the group - saw Ebitda rise 46 per cent to Rs 4,487 crore and net profit more than double to Rs 1,776 crore in April-June
 "Adani Group touts cash, says enough liquidity for 30 months debt payment")
After KCM revival, Vedanta seeks greener pastures in India, abroad
The conglomerate looks to start production from its Zambia mines by FY25 end, with plans to supply the Indian market
 "After KCM revival, Vedanta seeks greener pastures in India, abroad")
Brand matters: Anil Ambani's firm moves NCLT against IIHL using 'Reliance'
According to the family agreement, the brand is owned equally by brothers Mukesh and Anil
 "Brand matters: Anil Ambani's firm moves NCLT against IIHL using 'Reliance'")
Lava eyes larger share in India's smart wearables amid declining market
This comes after India's wearable device market declined for the first time ever, by 10 per cent year-on-year (Y-o-Y) to 29.5 million units in the second quarter (Q2) of calendar year 2024
 "Lava eyes larger share in India's smart wearables amid declining market")
Need to hike provision for deferred tax by Rs 211 cr, says Bajaj Auto
The company invests its surplus funds into a range of asset classes, including debt mutual funds
 "Need to hike provision for deferred tax by Rs 211 cr, says Bajaj Auto")
Marlabs expects to grow its data, AI biz by 50% in 2-3 years: CEO
In January, Collins announced Marlabs' plans to hire about 500 employees in India to churn out double revenue growth in the next three years
 "Marlabs expects to grow its data, AI biz by 50% in 2-3 years: CEO")
Torrent Power moves NCLAT against Sarda Energy's bid approval for SKS Power
Earlier on August 13, the Mumbai-based bench of the National Company Law Tribunal (NCLT), while approving Sarda Energy and Mining's (SEML) bid, had rejected applications, including of Torrent Power
 "Torrent Power moves NCLAT against Sarda Energy's bid approval for SKS Power")
Unspent CSR funds hit five-year high of Rs 1,475 crore in FY23, shows data
On average, each company spent only Rs 11.29 crore
 "Unspent CSR funds hit five-year high of Rs 1,475 crore in FY23, shows data")
SpiceJet's domestic market share falls to 3.1% in July, shows DGCA data
SpiceJet had recorded a market share of 16 per cent in March 2020, just before COVID-19 spread across India. The airline has been recording losses for the last six years
 "SpiceJet's domestic market share falls to 3.1% in July, shows DGCA data")
Lower growth, lack of valuation comfort to weigh on pipes maker Astral
Plumbing revenue was up 8 per cent year-on-year (Y-o-Y) and was lower than Street estimates due to lower volume growth at 16 per cent, compared to 23 per cent in Q4FY24
 "Lower growth, lack of valuation comfort to weigh on pipes maker Astral")
Vedanta estimated to have raised Rs 3,200 cr from OFS of subsidiary HZL
Vedanta will utilise the proceeds generated from the OFS for deleveraging its balance sheet and investment in its growth projects
 "Vedanta estimated to have raised Rs 3,200 cr from OFS of subsidiary HZL")
Slice gets NCLT nod for its merger with North East Small Finance Bank
This paves way for official merger, combining Slice's digital prowess with North East Small Finance Bank's banking expertise to deliver a superior financial experience to Indian consumers, it said
 "Slice gets NCLT nod for its merger with North East Small Finance Bank")
Tata Consumer Products closes Rs 3,000 cr rights issue after 14 days
The issue opened on Monday, August 5, 2024 at 9 am and closed today (Monday), August 19, 2024 at 5 pm
 "Tata Consumer Products closes Rs 3,000 cr rights issue after 14 days")
LIC offloads 2.09% stake in Hindustan Copper for Rs 447 cr via open market
The insurance behemoth has sold a total of 2,01,62,682 shares, or 2.085 per cent stake, in Hindustan Copper, according to a regulatory filing
 "LIC offloads 2.09% stake in Hindustan Copper for Rs 447 cr via open market")
Murugappa Group FY24 results: Net profit rises 15.2% to Rs 7,885 crore
During the year, the group's return on equity for its financial services businesses improved marginally to 19.2 per cent from 19 per cent in the previous year
 "Murugappa Group FY24 results: Net profit rises 15.2% to Rs 7,885 crore")
Piramal Enterprises shares gain over 3% on stake increase by promoter group
The company said that the acquisition of shares aligns with the promoters' belief in its growth trajectory, further reflecting their trust in the company's business fundamentals
 "Piramal Enterprises shares gain over 3% on stake increase by promoter group")
Keystone Realtors eyes 32% growth in housing sales this year: CMD
Keystone Realtors, which sells its properties under Rustomjee brand, is one of the leading real estate developers in the country with a significant presence in Mumbai Metropolitan Region (MMR)
 "Keystone Realtors eyes 32% growth in housing sales this year: CMD")
Adani group Ebitda surges 33% in Q1, leverage at 2.2x at multi-year low
Adani Enterprises - the business incubator of the group - saw Ebitda rise 46 per cent to Rs 4,487 crore and net profit more than double to Rs 1,776 crore in April-June
 "Adani group Ebitda surges 33% in Q1, leverage at 2.2x at multi-year low")
Expect strong demand, occupancy in Q3, Q4 after subdued 1st qtr: EIH Ltd
The impact of this year's general elections on demand was higher compared to the previous elections
 "Expect strong demand, occupancy in Q3, Q4 after subdued 1st qtr: EIH Ltd")