Page 797 - Company News
Paytm considering reduction of workforce by 20% amid rising employee costs
During FY23, the company maintained an average of 32,798 employees on its rolls, with 29,503 actively engaged
 "Paytm considering reduction of workforce by 20% amid rising employee costs")
RCap lenders can't take coercive action against IIHL, rules NCLT
IIHL seeks 90-day extension ahead of May 27 deadline
 "RCap lenders can't take coercive action against IIHL, rules NCLT")
NCLT directs Kirloskars to abide by settlement agreement signed in Sept '09
The Kirloskar family is embroiled in a legal battle over group assets, with Sanjay Kirloskar, chairman of Kirloskar Brothers (KBL), on one side and his brothers, Atul and Rahul, on the other
 "NCLT directs Kirloskars to abide by settlement agreement signed in Sept '09")
US-based firm Taro's shareholders approve merger with Sun Pharmaceutical
The merger agreement between Sun Pharma and Taro was approved by an affirmative vote of Taro shareholders at an extraordinary general meeting and an ordinary class meeting on May 22
 "US-based firm Taro's shareholders approve merger with Sun Pharmaceutical")
Adani Group mcap rises to Rs 17.5 trn, highest since Hindenburg incident
Shares of flagship Adani Enterprises rose 8 per cent, followed by Adani Ports, which closed the day with a 4.7 per cent gain
 "Adani Group mcap rises to Rs 17.5 trn, highest since Hindenburg incident")
Capital Group buys over 322,000 shares of IT firm Coforge for Rs 163 cr
US-based Capital Group through its affiliate New World Fund Inc acquired shares of Coforge through a bulk deal on the NSE
 "Capital Group buys over 322,000 shares of IT firm Coforge for Rs 163 cr")
Azad Engineering to build fully integrated advanced turbo engine for DRDO
AZAD will start delivering fully integrated advanced turbo engines by early 2026
 "Azad Engineering to build fully integrated advanced turbo engine for DRDO")
Tesla excludes delivery goal of 20 mn vehicles a year in impact report
Slowing growth in EV demand and tough competition have hit demand for Tesla's vehicles
 "Tesla excludes delivery goal of 20 mn vehicles a year in impact report")
Nvidia forecasts quarterly revenue above estimates, unveils stock split
First-quarter revenue surged 262% year-over-year to $26.04 billion, beating estimates of $24.65 billion. Net income soared 628% to $14.88 billion
 "Nvidia forecasts quarterly revenue above estimates, unveils stock split")
Segantii Capital to shut as insider trading charge draws redemptions
The executives said the hedge fund will wind down in a measured fashion, and deferred questions on compensation and jobs, the person added. The company said separately that it's suspending redemptions
 "Segantii Capital to shut as insider trading charge draws redemptions")
India is a 'bright spot', will lead the next decade: N Chandrasekaran
Tata Consumer Products on 'transformative journey' to serve Indians, he says in company's annual report
 "India is a 'bright spot', will lead the next decade: N Chandrasekaran")
With expansion on mind, JSW Energy builds money purse, human capital
In April, JSW Energy completed a fund raise of Rs 5,000 crore through the qualified institutional placement (QIP) route
 "With expansion on mind, JSW Energy builds money purse, human capital")
'Volkswagen in talks about passenger car production partnership in India'
The comments come after Volkswagen in February signed a supply agreement with India's Mahindra on the use of key electric components of the German carmaker's open platform for electric vehicles
 "'Volkswagen in talks about passenger car production partnership in India'")
Reliance, Disney seek antitrust nod with cricket rights assurance: Report
The deal is set to reshape India's $28 billion media and entertainment market, where the Reliance-Disney combo will compete with Netflix, Amazon Prime, Zee Entertainment and Sony
 "Reliance, Disney seek antitrust nod with cricket rights assurance: Report")
Air India announces salary hike, annual performance bonus for pilots
The new compensation structure, effective April 1, will see first officers and captains receive a monthly salary hike of Rs 5,000, while commanders' pay will be raised by Rs 11,000
 "Air India announces salary hike, annual performance bonus for pilots")
HCLTech to acquire certain assets of HPE's Communication Tech for $225 mn
This transaction is subject to regulatory approvals and other customary closing conditions and is expected to close in six to nine months
 "HCLTech to acquire certain assets of HPE's Communication Tech for $225 mn")
Boeing sees negative free cash flow in 2024 as deliveries remain sluggish
Top U.S. enforcement officials are also weighing whether to charge the company for violating an agreement that shielded it from prosecution stemming from previous jet crashes in 2018 and 2019
 "Boeing sees negative free cash flow in 2024 as deliveries remain sluggish")
JSW Paints breaks even at operating level in FY24, revenue crosses Rs 2k cr
The company attributed the rise in gross revenues to a significant ramp-up in both decorative paints and industrial coatings businesses
 "JSW Paints breaks even at operating level in FY24, revenue crosses Rs 2k cr")
After collapse of merger talks, Zee seeks $90 mn termination fees from Sony
Zee said it has, on account of Culver Max's and BEPL's breaches under the merger cooperation agreement, terminated the agreement by issuing a letter dated May 23
 "After collapse of merger talks, Zee seeks $90 mn termination fees from Sony")
Google logs into Tamil Nadu for drone unit; may rope in Foxconn for Pixel
The US tech giant will manufacture drones in the state through its subsidiary Wing LLC, giving a leg up to India's plan to become a drone making hub of the world
 "Google logs into Tamil Nadu for drone unit; may rope in Foxconn for Pixel")