Page 713 - Company News

Black Box promoters to raise Rs 410 cr via preferential issue of warrants

When warrants are converted into equity, promoter shareholding will decrease marginally

Air India suspends Tel Aviv flights until Aug 8 amid Middle East tensions

Air India said that it is continuously monitoring the situation and extending support to passengers with confirmed bookings

TVS Mobility, Mitsubishi Corp sign deal for employee exchange programme

MC Japan will host employees from TVS Mobility and train them in automotive and mobility sectors

Byju's lender asks court not to quash insolvency proceedings against firm

Glas Trust says Byju and his brother Riju used money owed to lenders to clear the Indian cricket board's dues and that the insolvency proceedings should continue

Sony and Tata Play clash over removal of channels, legal action considered

Tata Play cited declining popularity and cost savings for consumers as reasons for the removal of Sony channels, while Sony claims this to be retaliation from the DTH operator

SpiceJet passengers stranded at Dubai airport due to flight cancellations

Around 10 SpiceJet flights, which were to be operated to various Indian cities from Dubai, were cancelled due to non-payment of dues

Apple sets revenue record driven by strong sales in India, beats estimates

Apple CEO Tim Cook announced that the company achieved a new revenue record in its fiscal 2024 third-quarter ending June 29, over two dozen countries, including India

Meesho onboards Hari Bhartia, three others as independent directors

Along with Bhartia, Meesho has onboarded former JP Morgan Chairman Kalpana Morparia

Apple pins hopes on AI for iPhone upgrades as China sales dwindle

Apple said revenue in its fiscal fourth quarter would grow at a level similar to the 4.9% increase it posted in the April-June period

Cognizant Q2 net rises 22% to $566 mn, revises FY24 guidance to $19.5 bn

Cognizant has revised its full-year revenue growth guidance for FY24 from $19.3 billion to $19.5 billion, representing a growth of -0.5% to 1%

Steelmaker ArcelorMittal's Q2 core earnings slide but ahead of expectations

Steel prices in Europe and the US are below the marginal cost of production and excess output from China has resulted in very low domestic steel spreads and aggressive exports

Shell beats forecasts with $6.3 bn Q2 profit, but shares down by 0.5%

The results were lifted by strong performances in the oil and gas production and retail marketing businesses and the profit was nearly 25 per cent higher than the same time a year ago

Toyota's profit increases 17% to $8.70 bn in Q1 but shares tumble

Toyota has been on a record profit run that has boosted its share price. But its outlook has been complicated by a tough market in China

Govt extends minimum public shareholding deadline for PSUs till Aug 2026

Public sector banks, financial institutions too must increase their public shareholding to at least 25%

Govt capex, rural demand may spur M&M's ride: MD & CEO Anish Shah

When asked about the government's nudge to private companies to invest in new capacities, Shah said the group has already raised its automobile division capacity by 3x in the last four years

Hero MotoCorp starts ops in Philippines, partners with Terrafirma Motors

Terrafirma Motors Corporation (TMC), a part of the Columbian Group of Companies, one of the leading automotive groups in the Philippines, will serve as the exclusive assembler and distributor

India becomes the largest market for Meta AI usage, says senior executive

Company testing how businesses can use AI service to interact with customers

Strong volume growth, lower costs positive for Coal India's outlook

While operating profit margins are likely to normalise over the next two fiscals, the net profit estimates are being upgraded by analysts on the basis of higher OBR reversals

Karnataka authorities have withdrawn GST tax notice, says Infosys

DGGI sent a notice to Infosys for non-payment of Integrated Goods and Services Tax (IGST) on import services as the recipient of services

Irdai levies Rs 2 cr penalty on HDFC Life Insurance for violating norms

The regulator cited violations of norms related to policyholders' interests, web aggregators, and insurance distributors