Page 840 - Company News
IndusInd Bank successfully executes RBI's programmable CBDC pilot
For this pilot, IndusInd Bank collaborated with circularity innovation hub
 "IndusInd Bank successfully executes RBI's programmable CBDC pilot")
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
 "Rallis Q4 result: Loss narrows to Rs 21 cr, operational revenue down 16%")
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
 "Honasa Consumer's The Derma Co hits annual revenue run rate of Rs 500 crore")
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 unveils Made-in-India soundboxes for UPI, credit card on UPI payments")
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%
 "Paytm Payments Bank board is independent, says CEO Vijay Shekhar Sharma")
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
 "Gajanan S Kale takes over as CEO of Tata Power Delhi Distribution")
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
 "AdaniConneX in talks with banks to raise $900-950 mn in offshore loan")
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
 "India averts travel chaos as plane technicians call off Tuesday strike")
Zydus Lifesciences launches generic drug for overactive bladder in US mkt
The drug will be manufactured at the Zydus group's formulation manufacturing facility in Ahmedabad SEZ, India, the drug maker said
 "Zydus Lifesciences launches generic drug for overactive bladder in US mkt")
TCS, Infosys, Wipro see salary bills surge even as revenue growth slows
Lateral hiring in high-demand sectors like artificial intelligence (AI), machine learning (ML), cloud, and engineering services are the reason behind the surge
 "TCS, Infosys, Wipro see salary bills surge even as revenue growth slows")
Ordering food from Zomato to get costlier as the company hikes platform fee
Zomato processes somewhere between 2-2.2 million orders daily, suggesting that a Rs 1 increase, from Rs 4 to now Rs 5, could boost the company's quarterly earnings
 "Ordering food from Zomato to get costlier as the company hikes platform fee")
Salesforce abandons talks to acquire data-management firm Informatica
Informatica's shares closed at $35.19 on Friday, valuing the Redwood City, California-based company at about $11.2 billion, including debt
 "Salesforce abandons talks to acquire data-management firm Informatica")
USFDA pulls up Natco Pharma for several violations at Telangana plant
The US health regulator stated that the company failed to thoroughly investigate any discrepancy or failure of a batch or any of its components to meet any of its specification
 "USFDA pulls up Natco Pharma for several violations at Telangana plant")
Hero MotoCorp opens assembly facility with 75,000 units capacity in Nepal
The facility will have a capacity of 75,000 units per annum and will bring new investments and create job opportunities in the region, Hero MotoCorp said in a statement
 "Hero MotoCorp opens assembly facility with 75,000 units capacity in Nepal")
Expect rural sales contribution at record levels in FY25: Hyundai official
The automaker plans to further expand its presence in smaller towns as it firmly believes that for the nation to prosper, both rural and urban regions must progress in tandem, COO Tarun Garg said
 "Expect rural sales contribution at record levels in FY25: Hyundai official")
UltraTech Cement buys grinding unit from India Cements, announces expansion
The company said it has entered into an Asset Purchase Agreement with the seller. "This purchase will help the Company to strengthen its presence in the rapidly growing Maharashtra markets"
 "UltraTech Cement buys grinding unit from India Cements, announces expansion")
The localisation story of Elon Musk's Tesla: India versus China deal
The Tesla factory in China, on the other hand, sources 95% of its components locally after 5 years
 "The localisation story of Elon Musk's Tesla: India versus China deal")
Retailers body to seek govt intervention on business practices of POCO
These actions by POCO not only harm the legitimate sales channels but also result in financial losses to the government exchequer, ORA charged
 "Retailers body to seek govt intervention on business practices of POCO")
Lok Sabha elections: Corporate India steps up to make every vote count
From offering free rides and paid leaves to launching ad campaigns, companies are going all out to encourage voting
 "Lok Sabha elections: Corporate India steps up to make every vote count")
HDFC Bank's Rs 1,500 crore ex-gratia a gesture of employee appreciation
The one-time ex-gratia payment is a way to motivate the young workforce, said HDFC Bank CEO
 "HDFC Bank's Rs 1,500 crore ex-gratia a gesture of employee appreciation")