Page 916 - Company News
Mass segment slowdown to keep Bata India's stock under pressure
The premiumisation efforts seem to be working with the share of the same in the overall portfolio improving to 34 per cent as compared to 30 per cent a couple of years earlier
 "Mass segment slowdown to keep Bata India's stock under pressure")
Glenn Saldanha announced resignation as chairman of Glenmark Life Sciences
Glenmark Life Sciences Ltd on Wednesday said its Chairman Glenn Saldanha and non-executive director VS Mani have resigned following change in ownership of the company
 "Glenn Saldanha announced resignation as chairman of Glenmark Life Sciences")
Chennai brains to lead Ford's global AI drive; Group on hiring spree
Ford Business Solutions to hire 3,000 more for its city unit, taking total staff strength to 15,000
 "Chennai brains to lead Ford's global AI drive; Group on hiring spree")
Samara, Amazon-backed More Retail stake sale gets lukewarm response
The joint venture was looking to raise funds at $2 bn valuation
 "Samara, Amazon-backed More Retail stake sale gets lukewarm response")
Accenture invests $1 bn in learning platform, to buy edtech firm Udacity
Udacity's team of more than 230 professionals will join Accenture LearnVantage
 "Accenture invests $1 bn in learning platform, to buy edtech firm Udacity")
Aluminium makers race to cut costs through green power, captive mining
Ramp up in captive coal production could also help National Aluminium Company, known to be one of the lowest-cost producers of alumina, to register further reduction in costs
 "Aluminium makers race to cut costs through green power, captive mining")
Initial penalties on cos won't be on global turnover: CCI's new guidelines
The penalty for anti-competitive practices will not initially be imposed on global and total turnover but adjusted over the penalty calculated on the relevant turnover of the company
 "Initial penalties on cos won't be on global turnover: CCI's new guidelines")
Manish Prasad appointed president and MD for SAP Indian Subcontinent
Prasad succeeds Kulmeet Bawa, who takes on a global role for SAP
 "Manish Prasad appointed president and MD for SAP Indian Subcontinent")
Nexgen Energia to invest Rs 3,000 cr to set up CBG plant in Gujarat
After the commencement of the CBG plant, it will start supplying compressed biogas directly to the CNG pumps, the company said
 "Nexgen Energia to invest Rs 3,000 cr to set up CBG plant in Gujarat")
Fairfax India agrees to give IIFL Finance up to $200 mn liquidity support
NBFC's stock falls another 20% after RBI bars it from disbursing gold loans
 "Fairfax India agrees to give IIFL Finance up to $200 mn liquidity support")
IOC to become first Indian firm to manufacture fuel for Formula 1 cars
IOC, which already has three branded fuels, including high-selling XtraGreen diesel, on Wednesday unveiled 'Storm' petrol that it will supply for the Asian region motorcycle road racing championship
 "IOC to become first Indian firm to manufacture fuel for Formula 1 cars")
Govt to sell up to 7% stake in coal miner NLC India this week: Report
Government is selling over 9.7 crore shares at a floor price of Rs 212 apiece. If fully subscribed, including the green shoe option, the share sale would fetch about Rs 2,000 crore to the exchequer
 "Govt to sell up to 7% stake in coal miner NLC India this week: Report")
United Spirits gets Rs 4.47 cr tax demand from Maharashtra authorities
The state tax authority has demanded Rs 1.21 crore as MVAT, including a penalty of Rs 1 lakh, and Rs 3.26 crore as CST
 "United Spirits gets Rs 4.47 cr tax demand from Maharashtra authorities")
Google, Walmart gain fintech users from India as Paytm faces restrictions
Paytm's decline suggests consumers are moving usage to alternative services even before any disruption to its systems
 "Google, Walmart gain fintech users from India as Paytm faces restrictions")
Non-availability of pilots impact flight operations of Vistara: Report
Some flights were cancelled and many were delayed at the Delhi and Mumbai airports on Wednesday, sources said
 "Non-availability of pilots impact flight operations of Vistara: Report")
China's Antfin offloads 2.1% of Zomato stake worth $341.5 million
The stake sale comes amid tensions between Beijing and New Delhi over issues ranging from border disputes to India's increasing scrutiny of Chinese businesses and investment
 "China's Antfin offloads 2.1% of Zomato stake worth $341.5 million")
CCI clears Ring Plus Aqua's 59% stake buy in Maini Precision Products
Maini Precision Products Ltd (MPPL) is engaged in the manufacturing of precision products for different industries and manufacturers
 "CCI clears Ring Plus Aqua's 59% stake buy in Maini Precision Products")
Moody's affirms 'Ba3' rating to Tata Motors, positive outlook post demerger
As per Moody's obligations rated 'Ba' are judged to have speculative elements and are subject to substantial credit risk with modifier 3 indicating ranking in lower end of that generic rating category
 "Moody's affirms 'Ba3' rating to Tata Motors, positive outlook post demerger")
Sumitomo Wiring divests 4.4% stake in Samvardhana Motherson for Rs 3,633 cr
According to the bulk deal data available with the National Stock Exchange (NSE), Sumitomo Wiring Systems sold a total of 30 crore shares, amounting to a 4.43 per cent stake in SAMIL
 "Sumitomo Wiring divests 4.4% stake in Samvardhana Motherson for Rs 3,633 cr")
Haier aims to become 2nd largest appliance maker in India: NS Satish
The company expects the AC, TV, and washing machine categories to grow ahead of the refrigerator segment
 "Haier aims to become 2nd largest appliance maker in India: NS Satish")