Page 10 - Companies

NCLT grants final approval for merger of TV18 and E18 into Network18

Once the merger with Network18 is fully approved by the Ministry of Information and Broadcasting (MIB), both E18 and TV18 will cease to exist as separate entities

Indo National divests its entire 51% stake in Kineco for Rs 220 crore

Indo National Ltd, the manufacturer of consumer electrical products and dry cell batteries under brand Nippo, on Tuesday, announced to divest its entire 51 per cent stake in Kineco Ltd, a composites manufacturer, for Rs 220 crore. The Chennai-based manufacturer plans to deploy the funds in new-age enterprises, aerospace and defence industries, as well as across diverse categories of the fast-moving consumer goods sector, according to a statement. "The board of directors decided to sell its 51 per cent stake in Kineco Limited to a consortium of investors for a consideration of Rs 220 crore," it said. Indo National is the second-largest player in the dry cell industry, with a production capacity of 800 million batteries per annum. Besides it also has a presence in consumer electricals and torchlights manufacturing. In 2016, the company invested in Kineco, a key composites business offering a wide range of products and processing technologies for defence, railways and industrial ...

Rapido to convert Delhi bike-taxis to all-electric fleet by next year

This transition could potentially position Rapido as a pioneer in the bike-taxi industry, especially as rivals like Ola and Uber explore eco-friendly alternatives

PwC making tangible investments for 'high quality' business in China

PwC Zhong Tian LLP was hit with a six-month suspension and a record fine of 441 million yuan ($62 million)

Centricity's valuation reaches $125 mn in funding round led by Lightspeed

Centricity plans to utilise the fresh capital to expand its operations. The company intends to double its tech development team from 75 to over 150 specialists

Couche-Tard considers raising offer price for Seven & i after buyout talks

Seven & i has tapped Nomura to advise its board in preparation for a potential takeover battle with Couche-Tard, the Financial Times separately reported on Thursday

Bharti Airtel's valuations to sustain on market share & cash flow gains

Given these triggers, brokerages believe that premium valuations for the stock are justified

Home decor brand Nestasia raises $8.35 mn in from Susquehanna Asia VC

Home decor and lifestyle brand Nestasia has raised USD 8.35 million in a fresh funding round from Susquehanna Asia VC, Stellaris Venture Partners and notable angel investors. The capital raise will scale the company's efforts in offline store expansion, new category launches, brand building, and hiring, according to a release. Nestasia plans to expand its product range within kitchenware, drinkware, cookware, and appliances and introduce new themed categories such as home products for children (Nest Baby and Kids), among others. Nestasia, which was founded in 2019 by Aditi Murarka Agrawal and Anurag Agrawal, offers a curated selection of home decor and lifestyle products across six key categories. "This funding empowers us to stay true to our mission to Make Home Special' by introducing fresh, on trend products, expanding our offline presence, and strengthening our brand connection with customers," Aditi Murarka Agrawal, Co-founder of Nestasia said. Nestasia has been expanding its

Tata Digital's FY24 losses narrow to Rs 1,200 crore, revenue doubles

The company also reported its gross merchandise value (GMV) at Rs 37,355 crore. There are 20.76 million transacting customers this year

Black Box targets tripling sales over next 4 yrs on US networking demand

The company is seeking to capitalise on a global quest for artificial intelligence that's prompting customers to invest in computing and data storage capacity

Business travel bounces back as companies increase spending plans

Business travelers are also now routinely blending work and leisure, making them an even more attractive demographic

Ashok Leyland inaugurates advanced Uptime Solution Center at Ennore

The advanced Uptime Solution Centre brings together teams from aftermarket services, vehicle engineering, and field quality to proactively support Ashok Leyland customers nationwide

Global borrowing blitz led by blue chips selling $43 bn in bonds, loans

Bond yields on global investment-grade corporate debt averaged 4.52 per cent as of Tuesday's close, near their lowest level in about two years

NaBFID planning to disburse $17 bn in loans to finance projects: Official

The 20-month old financial institution, which has been created to focus on infrastructure funding, has assessed 200 projects and is planning to sanction $26.5 billion in loans over two years

Dantewada administration imposes Rs 1,620.5 cr fine on NMDC for violations

The administration in Chhattisgarh's Dantewada district has imposed a penalty of Rs 1,620.5 crore on the National Mineral Development Corporation (NMDC), a central PSU, for alleged violation of mining laws, officials said on Saturday. The NMDC has termed the move "completely inappropriate" and claimed the penalty was imposed "solely and blindly without considering the facts and circumstances in the case". The NMDC has mining operations in Bailadila hills in Kirandul and the Bacheli area of Dantewada in the Bastar region. In a letter dated August 29, Dantewada collector Mayank Chaturvedi directed the NMDC to deposit the penalty amount within 15 days. The letter stated that iron ore mining leases have been approved for Deposit No. 14 ML in an area of 322.368 hectares, Deposit No. 14 NMZ in 506.742 hectares, and Deposit No. 11 in 874.924 hectares in Kirandul village under Bacheli tehsil of Dantewada to the NMDC. The collector wrote that the NMDC's clarifications to the show cause not

Balmer Lawrie eyes Rs 6K cr revenue by 2030, to hire consultant for growth

Diversified PSU Balmer Lawrie & Company is aiming at a revenue of Rs 6,000 crore by 2030 and is in the process of engaging a consultant to prepare a comprehensive growth plan, a top official said on Friday. The company, which operates across several business verticals, including grease and lubricants, industrial packaging, logistics and travel and vacations (T&V), has a current revenue of Rs 2,400 crore. "We are targeting a revenue of Rs 6,000 crore by 2030 and looking to appoint a consultant to guide us," Balmer Lawrie CMD Adhip Nath Palchaudhuri said. He also said the key focus areas for growth are travel and vacation, grease and lubricants, logistics, and industrial packaging. Palchaudhuri noted that the T&V vertical has substantial growth potential. "Around 80 per cent of the business lies outside government departments, predominantly in the private sector. We are actively promoting our services to capture a significant share of the leisure travel market," he said. The

Biocon Biologics secures deal with Janssen to launch biosimilar Bmab 1200

Agreement clears way for Indian company to launch treatment in Europe, Canada and other markets

Nvidia's Huang says new Blackwell chip will have lots and lots of supply

The product is a much-anticipated successor to the company's Hopper line of so-called AI accelerators, which have sent its revenue and stock price soaring

Deepinder Goyal launches Zomato for employers to ease corporate food orders

Zomato CEO Deepinder Goyal announced that this feature would streamline the management of company food expenses and simplify the reimbursement process provided by companies

As far right rises in Germany, firms struggle to attract foreign workers

When electrical engineer Preetam Gaikwad first moved to Jena in 2013, she was smitten by what the eastern German city had to offer: a prestigious university, top research institutions, and cutting-edge technology companies, global leaders in their field. Eleven years later, the Indian native takes a more sober view. I'm really worried about the development of the political situation here, Gaikwad, 43 said. Jena is in the eastern German state of Thuringia, which has elections on September 1. The far-right Alternative for Germany party, or AfD, is currently leading the polls with about 30 per cent support, far ahead of the centre-right Christian Democrats (21 per cent) and the centre-left Social Democrats of Chancellor Olaf Scholz (7 per cent). The AfD's anti-foreigner stance is the cornerstone of its campaign, raising concern among businesses like Jenoptik, Gaikwad's employer. The company, which supplied lens assemblies for Perseverance, the NASA remote vehicle on Mars, employs 1,68