Page 835 - Company News

Arcelormittal Nippon Steel India in talks for $1 bn loan to fund growth

The steel firm had earlier held loan negotiations with a few other lenders but they couldn't agree on the cost of funding, said the people

Macquarie Group drives in $1.5 billion EV fleet electrification play

It's designed to speed up adoption of EVs and support India's e-mobility transition

Japan's MUFG mulls sweeter offer for India's HDB Financial, says report

Both sides are looking to reach an agreement for a 20% stake in HDB Financial Services in about a month, the report said, citing people familiar with the matter

Paytm completes merchant migration to YES Bank: Vijay Shekhar Sharma

NPCI notified in March that YES Bank would act as merchant acquiring bank for existing and new UPI merchants for OCL

IFCI gets Rs 500 cr capital infusion from govt via issuance of equity

Allotment of 123,977,188 shares to the Government of India was done on April 18, 2024, on a preferential basis, IFCI said in a regulatory filing

Raveendran secures pvt debt to pay March salaries of employees at Byju's

The development comes ahead of the April 23 hearing at NCLT and company may request the tribunal allow it to use the rights issue money

IndiGo says it follows fair process of succession readiness amid some exits

The carrier's Senior Vice President Engineering S C Gupta and Senior Vice President Inflight Services Suman Chopra will be leaving from their current positions

Experion Developers to invest Rs 1,500 cr to build new projects in Noida

Experion Developers CEO Nagaraju Routhu said the company is entering Noida, which is an important real estate market in Delhi-NCR

NCLT admits personal insolvency plea against Zee's Subhash Chandra

IBHF moved a petition to initiate personal insolvency against Chandra after a Rs 170 cr loan turned into NPAs

Cognizant, Microsoft announce partnership to expand adoption of GenAI

Cognizant purchased 25,000 Microsoft 365 Copilot seats for Cognizant associates, along with 500 Sales Copilot seats and 500 Services Copilot seats

Sanjay Mashruwala resigns as MD of Reliance Jio with effect from June 9

Mashruwala, 76, has been a key executive with Reliance since founder Dhirubhai Ambani's times and has been involved with several of its projects and business initiatives

NCLAT order of Jet Airways takeover shocking, unacceptable: SBI tells SC

The lenders have appealed against this order in the Supreme Court

IndusInd Bank successfully executes RBI's programmable CBDC pilot

For this pilot, IndusInd Bank collaborated with circularity innovation hub

Rallis Q4 result: Loss narrows to Rs 21 cr, operational revenue down 16%

The company has reported a loss of Rs 69 crore during the corresponding quarter of the previous financial year, Rallis India said in a regulatory filing

Honasa Consumer's The Derma Co hits annual revenue run rate of Rs 500 crore

The company's stock price was up by 4.8 per cent at the close of the market hours, on the back of the update from the company

Paytm unveils Made-in-India soundboxes for UPI, credit card on UPI payments

Founder and CEO Vijay Shekhar Sharma said the advanced soundboxes provide superior sound quality and battery life, making them better suited to Indian conditions

Paytm Payments Bank board is independent, says CEO Vijay Shekhar Sharma

Paytm Payments Bank's parent is One 97 Communications, popularly known as Paytm for its digital payments app. One97 owns 49% in the payments bank, while Sharma holds the remaining 51%

Gajanan S Kale takes over as CEO of Tata Power Delhi Distribution

Before joining Tata Power-DDL, Kale served as the Chief Executive Officer of TP Western Odisha Distribution Limited (TPWODL) since 2021

AdaniConneX in talks with banks to raise $900-950 mn in offshore loan

The funding arrangement entails an interest rate set at 250-260 basis points above the Secured Overnight Financing Rate (SOFR) and spans a duration of six years

India averts travel chaos as plane technicians call off Tuesday strike

Travel plans were thrown into disarray earlier this month after Vistara, jointly owned by Air India's owner Tata Group and Singapore Airlines Ltd., was forced to cancel more than 100 flights