Page 922 - Company News

Kedaara set to raise raising $1.7 billion for India's biggest PE fund

About 80% of the fund will come from backers of Kedaara's previous funds and 20% will come from new ones that include US- based Cleveland Clinic and the University of Minnesota

Brokerages bullish on Vedanta's prospects amid concerns over group's debt

Capex in aluminium and zinc should result in incremental cash flow of $1 billion-plus per annum once the plants ramp up fully, which could be in H2FY26

NCLT asks Byju's to keep funds via rights issue in escrow account

NCLT has also directed Byju's to consider the extension of the closure date of the rights issue

SpiceJet settles $30 mn dispute with Celestial Aviation outside tribunal

SpiceJet had announced on February 22 that it had raised a second tranche of Rs 316 crore under the preferential issue of equity and warrants

Vedanta eyes $6 bn Ebitda in FY25, reiterates guidance on profit targets

The company is expected to clock nearly $5 bn of EBITDA in FY24 (April 2023 to March 2024); adjusting for one-time gains of the Cairn arbitration, the operational Ebitda for FY24 will be $4.4 billion

CIL to hold 51% stake in Rs 11,700 crore coal-to-chemical JV with BHEL

The venture will kick off with the construction of a state-of-the-art Coal to Ammonium Nitrate Plant, leveraging BHEL's Pressurized Fluidized Bed Gasification (PFBG) technology

Google hit with $2.3 bn lawsuit by 32 media groups including Axel Springer

Google last year said it disagreed with EU antitrust charges against its ad tech business where it is involved in both the buy-side as well as the sell-side of the supply chain

Reliance, Disney sign $8.5 bn deal to form JV, to merge media ops in India

Reliance, led by Asia's richest man Mukesh Ambani, will inject $1.4 billion in the merged entity, with the company and its affiliates holding a more than 63% stake

Reliance Consumer to bring Sri Lankan beverage Elephant House to India

With this tie-up, RCP adds another brand to its beverage portfolio. It already has brands such as Campa, Sosyo and Raskik

Torrent Power raises Rs 700 crore through non-convertible debentures

The NCDs are proposed to be listed on wholesale debt market segment of the NSE, a regulatory filing said

Tata Group firm Agratas to build UK's biggest EV battery plant in Somerset

The company said the 40 GWh factory is set to contribute almost half of the projected battery manufacturing capacity required for the UK automotive sector by the early 2030s

Alcobrew Distilleries eyes higher exports with launch of single malt whisky

Exports are currently a small part of the company's revenue but the management expects it to gradually increase

Uday Shankar to be VC of merged Reliance-Disney media business: Report

Reliance and Disney are expected to make a formal announcement on Wednesday after signing a binding pact. Shankar is set to take a stake of around 9% in the new merged entity

Walmart launches Centre for Tech Excellence at IIT Madras for AI adoption

The idea is to leverage cutting-edge solutions in artificial intelligence (AI) and digitisation to enhance operational efficiency and profitability for MSMEs

LTIMindtree, IBM, IIT Madras team up for quantum computing research

"This move is a strategic step toward LTIMindtree helping their customers benefit from the transformative value of quantum computing technologies," the company said

Swisscom confirms talks to buy Vodafone's Italian unit for 8 bn euros

Swisscom says it expects the purchase, if concluded, would add value and cash flow to the Swiss company and help improve its dividend policy

Tech Mahindra, Pegatron ink MoU to develop AI-enabled private 5G networks

The partnership will enable the two companies to find global prospects collaboratively, with Pegatron offering the 5G connectivity layer and Tech Mahindra delivering end-to-end 5G services

Reckitt's quarterly sales down after investigation into West Asia business

Some investors criticised the company's "vague" outlook for this year, as Reckitt shares slumped to their lowest point since March 2020, early in the COVID-19 pandemic

Toyota gives no answer to union demands at second round of wage talks

Toyota has not decided yet when it will respond to the union's wage rise request, Takanori Azuma, the automaker's chief human resources officer, said on Wednesday

SpiceJet settles Rs 250 cr dispute with aircraft lessor Celestial Aviation

Both parties reached out to the National Company Law Tribunal (NCLT) last week, and now the matter will officially be withdrawn on March 1