Page 698 - Company News

JSW MG Motor expects 250% EV sales growth in 2024, says Rajeev Chaba

While JSW MG Motor remains optimistic, electric car sales in India have declined over the past three months

Novo Nordisk plans to introduce drug for sickle cell disease in 3-5 years

The company announced the plan to hire about 1,300 new employees by the end of 2026 in its GBS (global business services) division, as per the statement at a media briefing

Tata Motors, Tata Power partner to boost EVs, solar power adoption

Two Tata Group companies will provide comprehensive solutions that include the purchase of an electric vehicle and the installation of a solar rooftop system

PB Fintech posts consolidated net profit at Rs 60 crore in Q1 FY25

The overall adjusted Earnings before Tax, Interest, Amortization, Depreciation (EBITDA) margin improved from (-)31 per cent in Q1 FY24 to 12 per cent in Q1 FY25

NCLT to hear RCAP-IIHL resolution case, expected to give directions to both

As per NCLT order dated July 23, IIHL had to comply with certain conditions by July 31, 2024 including depositing initial equity amount of Rs 250 cr in a domestic escrow account designated by CoC

Power Finance Corp board did not discuss Shapoorji Pallonji Group loan

Board had sanctioned a loan of Rs 20,000 crore to the SP Group in June

Uptick in rural demand to propel two-wheeler industry: TVS Motor chairman

TVS expects the domestic two-wheeler industry to continue to grow in FY25 on the back of strong economic indicators, including normal rainfall and uptick in rural demand, TVS Chairman said

Go cashless in Paris: JioFinance app forays into international segment

Visa, the official payments partner of the Olympic Games Paris 2024, has partnered with JioFinance for its presence at India House

Vedanta hopeful to complete demerger process by year end, says CFO

The proposed demerger will create independent companies housing aluminium, oil and gas, power, steel and ferrous materials, and base metals businesses

Air India to operate evening flight to Dhaka, Vistara to resume from Aug 7

Bangladesh has plunged into uncertainty and the situation is volatile after street protests over job quota forced Prime Minister Sheikh Hasina to quit and flee

CCI seeks Apple's reply on alleged violation of competition norms

In the order passed in December 2021, CCI had observed that Apple's App Store is the only channel for app developers to distribute their apps to iOS consumers

Bharti Airtel's 5G user base rose to 90 million at Q1-end: MD Gopal Vittal

Vittal also said that Airtel's 5G consumer base has risen to 90 million at the end of the first quarter, up from 72 million at Q4FY24-end

Burmese cuisine restaurant chain raises another $2 mn in equity investment

Earlier in November 2022, the restaurant chain had raised $2 million in a seed round led by Negen Capital

NTPC seeks shareholders' nod to raise Rs 12,000 cr via issuance of NCDs

The approval of the shareholders is being sought to authorize the board of directors to make offer(s) or invitation(s) to subscribe to the non-convertible debentures

PSU banks' compensation against fraud rises over three-fold to Rs 140 cr

Union Bank of India paid the highest compensation of Rs 74.96 cr followed by Bank of India at Rs 20.38 cr and Indian Bank at Rs 16.16 cr during FY24, FM Nirmala Sitharaman said

Tech Mahindra, Horizon3.ai come together to provide AI-based cybersecurity

The enhanced compliance and cost-effective capabilities will ensure organisations meet regulatory standards and access scalable, advanced penetration testing

Inox Wind secures 201 MW project from Integrum Energy Infrastructure

According to the statement, Inox Wind has bagged an order for 201 MW from Integrum Energy Infrastructure Ltd, a leading C&I player

IFC, ADB, DEG consortium to invest $275 mn in Fourth Partner Energy

The consortium's investment will infuse capital to fund FPEL's business expansion plans which include a target portfolio of 3.5 GW of renewable energy assets by 2026

Nazara arm buys assets of US gaming content platform DeltiasGaming.com

Absolute Sports will use its cash reserves to fund the all-cash transaction, to be paid over one or more tranches

Zepto to shift headquarters to Bengaluru, mandates employees to relocate

Zepto is planning to shift its headquarters from Mumbai's Powai to Bengaluru's Sarjapur, and has mandated all its employees to relocate to Bengaluru by the end of November or early December