Page 100 - Companies

Uniparts India makes tepid market debut; shares settle nearly 7% lower

Shares of engineering systems and solutions provider Uniparts India made a tepid market debut on Monday and settled nearly 7 per cent lower against the issue price of Rs 577. The company's shares debuted at Rs 575 -- 0.34 per cent lower than the issue price of Rs 577 on the BSE. During the day, it fell 7 per cent to Rs 536.15. It settled at Rs 539.55 apiece, a decline of 6.49 per cent. On the NSE, it started the trade at Rs 575 and ended at Rs 537.60 per share, lower by 6.82 per cent. Its market valuation was at Rs 2,435.19 crore on the BSE. In volume terms, 5.06 lakh shares were traded on the BSE during the day and 75.30 lakh shares on the NSE. The Initial Public Offer (IPO) of Uniparts India was subscribed 25.32 times earlier this month. The IPO of up to 1,44,81,942 equity shares had a price range of Rs 548-577 per share. Uniparts India is a global manufacturer of engineered systems and solutions.

Kirloskar Brothers EGM: Shareholders reject call for forensic audit

Shareholders of Kirloskar Brothers Ltd have rejected a resolution for forensic audit of the affairs of the company by an external agency, according to a regulatory filing on Monday. On December 8, an extraordinary general meeting of the company's shareholders was convened following requisition by Kirloskar Industries Ltd (KIL) along with Atul Kirloskar and Rahul Kirloskar, who together hold 24.92 per cent in Kirloskar Brothers Ltd (KBL), amid the simmering feud between Kirloskar siblings. The ordinary resolution was rejected with 63.99 per cent of votes against it while 36.01 per cent were in favour, the filing said. The resolution had called for the appointment of an independent forensic auditor for conducting a forensic audit to investigate and verify the expenses incurred by KBL on legal, professional consultancy charges over the past six years and the affairs of the company. It had also sought investigation to verify all records, books of accounts, minutes books, and other ...

upGrad strengthens domestic leadership with 2 strategic appointments

upGrad Strengthens Its Domestic Leadership with Two Strategic Appointments

Paytm loan disbursal reaches annualised run rate of Rs 39,000 crore in Nov

Digital financial services firm One97 Communications on Monday said that its loan disbursals reached an annualised run rate of around Rs 39,000 crore in November this year. One97 Communications (OCL), which owns Paytm brand, had reported loan disbursals at an annualised run rate of around Rs 37,000 crore in October. "Our loan distribution business (in partnership with top lenders) continues to witness an accelerated growth with disbursements through our platform now at an annualised run rate of Rs 39,000 crore in the month of November," Paytm said in a regulatory filing. The GMV (Gross Merchandise Value) processed through Paytm platform grew 37 per cent for the two months ended November 2022, aggregating to Rs 2.28 lakh crore from Rs 1.67 lakh crore a year ago. The value of loans disbursed through Paytm grew by over four-fold on year-over-year (y-o-y) basis to Rs 6,292 crore in November from Rs 1,328 crore, while the number of loans disbursed grew two-and-a-half times to around 68

Tata group to open 100 small, exclusive Apple stores in India: Report

Apple is in talks with Tata-owned Infiniti Retail, which runs Croma stores, to open the Apple stores spreading across 500 to 600 sq ft

Masayoshi Son's SoftBank buyout would look more like Musk than Dell

Every quarter Masayoshi Son is forced to give metrics he doesn't believe capture the value of his firm. "We are an investment company, we're not engaged in operations," he said in August 2020

Waiting for a thaw: Four charts give a peek into the funding winter

The other trend was acquisitions. Many acquired to expand rather than invest to grow organically. Of course, this period did not see a single unicorn

Drug regulators, pharma firms step up action on fake and substandard drugs

Detection of spurious and substandard drugs was up by 47% from 2020 to 2021, according to an ASPA Report

Tata Projects to build EPC solutions as it steps up green hydrogen focus

MD Vinayak Pai says firm will not deploy its own capital in this space, but will work with customers who are ready to invest in these projects

Shipping Ministry seeks advice on letting APSEZ bid for govt tenders again

Ministry is concerned about wider repercussions of Supreme Court decision to revoke the firm's disqualification

Myntra gets 130,000 first-time shoppers from non-metros on Day 1 of sale

Fashion e-tailor Myntra on Sunday said it recorded 1.3 lakh first-time shoppers from non-metros on the first day of its flagship End of Reason Sale (EORS), with customers from Jaipur, Lucknow and Patna placing the most orders in terms of value. According to experts, there has been a marginal increase in the average spending of online shoppers during the last festive season of Diwali and the growth in number of new customers has been key to the business growth of e-commerce platforms. "The opening day of the event saw 130k first-time shoppers coming from non-metros. Over half of the overall shoppers from the initial day of the fashion event were women," Myntra said in a statement. On the opening day, Bengaluru shopped the most among metros, followed by Delhi, Mumbai, Hyderabad, and Pune. The top five non-metro cities that shopped in this period were Jaipur, Lucknow, Patna, Indore and Guwahati. "Men and women have flanked the platform with equal enthusiasm, with a multitude of shoppe

Rs 10 lakh penalty imposed on Glaxo Smith Kline for misleading ad

The Central Consumer Protection Authority (CCPA) has imposed a penalty of Rs 10 lakh each on Glaxo Smith Kline and Naaptol for misleading advertisements of their products.

Israeli company Playtika likely to layoff about 600 employees worldwide

Israeli mobile games company Playtika will cut 12 to 15 per cent of its workforce. About 600 employees worldwide will be dismissed including 180 in Israel, the media reported

Appliance makers expect robust growth from heating products this winter

Appliance makers are expecting a high double-digit growth in sales of heating products such as geysers and room heaters on hopes of a good winter and are ramping up production capacity to meet the demand. The manufacturers are seeking to cash in on the onset of winter with new-tech products like Internet of Things (IoT)-enabled geysers, besides tankless water heaters and a range of premium room heaters with oil-filled radiators. Besides, the makers are offering convenience, durability, and aesthetics with upgraded appliances in different sub-categories ranging from mass to premium. Crompton Greaves Consumer Electricals Ltd (CGCEL) is looking at 20 per cent growth in both instant and storage water heaters over last year. It "is looking at over 70 per cent growth in room heaters over last year," said CGCEL Vice President - Appliances Anand Kumar N. The company has introduced seven models, including the Solarium Cube IOT series and Solarium Care series which provide customised bath m

Musk's Twitter selling espresso machine, office fridge; bids start at $25

After Elon Musk revealed that Twitter spends $13 million a year on food service at its San Francisco headquarters, the company is selling at least 265 kitchen appliances and office furniture online

OYO records 83% YoY growth in business travel, Delhi is most-booked city

Younger business travellers such as college graduates and new entrants into the workforce, such as traders and small enterprises, played a key role in the overall business travel recovery process

WeWork India to focus on 6-8 cities, expects to be valued at $2 bn: CEO

Co-working space company 'would love' to go public but has not decided about that yet: Karan Virwani

Letter from Foxconn founder pushed China to ease Covid restrictions: Report

The letter from Foxconn's founder Terry Gou was sent a month ago when the Apple supplier's factory in Zhengzhou was rocked by protests

JSPL acquires Monnet Power for Rs 410 cr through insolvency process

Monnet Power has a 1050 MW under-construction plant in Odisha's Angul

Reliance General Insurance seeks Rs 600 crore from bankrupt parent

Profit-making subsidiary's request complicates matters for Reliance Capital's lenders that have to decide matter Friday