Page 955 - Company News
Zuckerberg's wealth surges by $28 bn as Meta rallies, surpasses Bill Gates'
It's a big comeback for Zuckerberg's wealth, which fell below $35 billion in late 2022 as tech stocks collapsed in the face of inflation and interest rate hikes, only to come soaring back in 2023
 "Zuckerberg's wealth surges by $28 bn as Meta rallies, surpasses Bill Gates'")
LIC Housing Finance Q3 profits more than doubles, hits Rs 1,163 crore
Mortgage lender LIC Housing Finance on Friday reported a more than two-fold jump in profit at Rs 1,163 crore in the third quarter ended December 2023
 "LIC Housing Finance Q3 profits more than doubles, hits Rs 1,163 crore")
Shadow of KYC-led money laundering falls over Paytm Payments Bank
Payments bank says it has upheld compliance with supervisory instructions
 "Shadow of KYC-led money laundering falls over Paytm Payments Bank")
Toyota supplier Denso cuts forecast after Q3 profit hit by extra costs
Denso gets about half of its revenue from the Toyota group, which also includes Toyota truck unit Hino Motors and small-car maker Daihatsu
 "Toyota supplier Denso cuts forecast after Q3 profit hit by extra costs")
Exxon Mobil beats estimates, ends 2023 with a $36 billion profit
Profits from oil majors have been down in 2023 by about a third from record levels in 2022, pressured as oil and gas prices retreated after spiking when Russia invaded Ukraine
 "Exxon Mobil beats estimates, ends 2023 with a $36 billion profit")
Amazon stock soars as AI and retail strength power revenue growth
The company joined Microsoft and other tech firms in starting to see results benefiting from their heavy AI investments, while also outlining more spending in 2024 to develop the much-hyped tech
 "Amazon stock soars as AI and retail strength power revenue growth")
Meta soars after first-ever dividend plan, 'Year of Efficiency' pays off
The company flagged strong ad sales and a rebound in user growth during its fourth-quarter results on Thursday, while also forecasting current-quarter revenue above analysts' estimates
 "Meta soars after first-ever dividend plan, 'Year of Efficiency' pays off")
Byju's US unit files for bankruptcy, lists liabilities of $1 bn to $10 bn
US unit of Indian education technology startup Byju's has filed for Chapter 11 bankruptcy proceedings in the U.S. court of Delaware, listing liabilities in the range of $1 billion to $10 bn
 "Byju's US unit files for bankruptcy, lists liabilities of $1 bn to $10 bn")
RBI restrictions on Paytm Bank: Merchants, users mull platform change
Cite challenges like settlement, change in platform fee
 "RBI restrictions on Paytm Bank: Merchants, users mull platform change")
Apple's China slump deepens even as total iPhone sales grow again
Sales in China dropped 13 per cent to $20.8 billion in the fiscal first quarter, which ended December 30, the company said on Thursday. That fell far short of the $23.5 billion predicted by analysts
 "Apple's China slump deepens even as total iPhone sales grow again")
Byju's fights back: Investors have no voting rights on CEO change
The edtech company responded to statements from select investors calling for an extraordinary general meeting (EGM) to replace founder and group CEO Byju Raveendran
 "Byju's fights back: Investors have no voting rights on CEO change")
Mahindra Group appoints Amarjyoti Barua as group chief financial officer
He will be replacing Manoj Bhatt, who is appointed as Managing Director and CEO of Mahindra Holidays & Resorts India Ltd (MHRIL) succeeding Kavinder Singh, the company said in a statement
 "Mahindra Group appoints Amarjyoti Barua as group chief financial officer")
RBI curbs on Patym to have major impact but valuation remains attractive
The fintech firm said it will compensate by expanding existing relationships with third-party banks to distribute payments, financial services and products
 "RBI curbs on Patym to have major impact but valuation remains attractive")
IndiGo Q3FY24 results: Net profit rises 111% to Rs 2,998.10 crore
About 75 planes grounded due to P&W engine issues
 "IndiGo Q3FY24 results: Net profit rises 111% to Rs 2,998.10 crore")
Fusion CX opens BPO facility; firm's India workforce to hit 10,000
The company, which employs 9,500 of its global workforce of over 14,000 in India, aims to add another 500 employees to take its overall base in the country to over 10,000 in the next quarter
 "Fusion CX opens BPO facility; firm's India workforce to hit 10,000")
Indiabulls Housing's Rs 3,693 crore rights issue to open on February 7
The issue price is fixed at Rs 150 per share, having a face value of Rs 2, meaning the issue comes at a premium of Rs 148 per share, the company said in a statement
 "Indiabulls Housing's Rs 3,693 crore rights issue to open on February 7")
Despite Q3 margin miss, Street remains positive on Titan's prospects
Analysts remain cautious about near-term consumption trend
 "Despite Q3 margin miss, Street remains positive on Titan's prospects")
Morgan Stanley buys Paytm shares worth Rs 244 cr via open mkt transaction
Morgan Stanley through its affiliate Morgan Stanley Asia (Singapore) Pte - ODI picked up shares of Noida-based Paytm's parent firm One97 Communications on the National Stock Exchange (NSE)
 "Morgan Stanley buys Paytm shares worth Rs 244 cr via open mkt transaction")
PLI will be among biggest sources of funds for EV biz next yr: Tata Motors
PLI benefits would range from 13-18% of revenue for vehicles approved by the government for the scheme
 "PLI will be among biggest sources of funds for EV biz next yr: Tata Motors")
Jana Small Finance Bank, Capital SFB IPOs to open on February 7
Bangalore-based Jana SFB is looking to raise Rs 570 crore with Rs 462 crore worth of shares through fresh issuance
 "Jana Small Finance Bank, Capital SFB IPOs to open on February 7")