Page 11 - Companies

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

Committed to double-digit growth in FY25, exploring opportunities: Emami

Home-grown FMCG major Emami is looking for double-digit growth in the current fiscal year and will keep exploring inorganic and strategic opportunities to enter into new product categories, its Chairman R S Goenka said. Emami's focus will be to grow revenues with robust margins, generating adequate cash flows to reinvest in the business and strengthening sustainability, he said while addressing the AGM of the company. The company remains "optimistic about future growth" supported by a favourable economic landscape, forecast of a normal monsoon, anticipated rural market recovery, government initiatives, and promising macroeconomic factors, contributing to a "confident outlook", Goenka added. "We are committed to achieve double-digit growth in the new financial year," he said. Besides, Emami which has made some acquisitions in the past -- AloFrut, Creme21 and Zandu, will continue to explore such growth opportunities allowing it to enter into a new segment and expand its play area. "

Seven & I seeking govt protection tests Japan's appetite for reform

The Japanese operator of 7-Eleven stores is seeking designation as a core company under the Foreign Exchange and Foreign Trade Act

Ahmedabad-based Aeron Composite raises Rs 15.17 crore from anchor investors

Fibreglass reinforced polymer products supplier Aeron Composite Ltd has said it has raised Rs 15.17 crore from the anchor investors. The Ahmedabad-based company has allotted 12,14,000 equity shares to as many as 10 fund schemes at Rs 125 per share, the upper end of its IPO price band, Aeron Composite said in a statement. India Ahead Venture Fund, Nav Capital VCC, AG Dynamic Funds Limited, Craft Emerging Market Fund PCC, Finavenue Capital Trust and Galaxy Noble Global Opportunities Fund PCC are among the anchor investors, it added. The company's Initial Public Offering (IPO) to raise a total of Rs 56.10 crore opened for subscription on the NSE Emerge platform of the National Stock Exchange. The issue will close for subscription on August 30. Investors can bid for a minimum of 1,000 shares and in multiples thereof. The company has fixed the price band at Rs 121-125 per share for public offer which is entirely a fresh issue of 44.88 lakh equity shares. The retail investor quota for

S Africa investigating alleged $7 bn corruption at state-owned companies

South Africa has active investigations into alleged corruption totalling more than USD 7 billion at some of its top state-owned companies, according to a report published Tuesday by the national anti-graft unit. The investigations are not new, and some have been running since 2018, and all of them were cited by the Special Investigative Unit (SIU) in a report to a parliamentary committee to give an update on the status of the probes. Those investigations involve six state-owned businesses: ports and rail company Transnet, arms company Denel, power utility Eskom, the National Lotteries Commission, national airline South African Airways and passenger rail company PRASA. Around 60 suspicious contracts and hundreds of cases of conflict of interest and other alleged corruption worth nearly $4 billion of public money are under investigation at Transnet alone, according to the report. Also, there are nearly 40 other ongoing investigations into alleged corruption involving different state-r

10-minute delivery to become BigBasket's default option: CEO Hari Menon

This is much higher than Blinkit's 25,000 SKUs and Zepto's 10,000 SKUs. Zepto has stated that it intends to increase SKUs on its platform to 20,000 before the festive season begins

Anil Ambani reviewing securities market ban, to take appropriate steps

No action against us, clarify Rel Infra, Rel Power

Global caution sends private equity-backed M&A deal value to 6-year trough

A private equity fund gathers money from investors, particularly high networth individuals and invests in high-return opportunities

Kilburn Engineering to acquire Monga Strayfield for Rs 123 crore

In a statement, Kilburn said the acquisition is aimed at a strategic and synergistic partnership that will enhance Kilburn's portfolio and broaden its reach across various industries

Central Bank of India's bid for Future's insurance JV stakes gets CoC nod

The state-owned lender has to get Irdai's approval in 90 days to buy FEL's stake in insurance JVs

Shriram Properties to triple revenue to Rs 3k cr by FY27; double bookings

Realty firm Shriram Properties Ltd on Wednesday said the company is targeting to triple its revenue to Rs 3,000 crore and double sale bookings to Rs 5,000 crore by 2026-27 financial year as the company embarks on its next phase of growth. The company, which entered its 25th year of operations in 2024-25, unveiled a new brand identity that seeks to transform the perception of Shriram among customers while elevating its brand and reputation towards better customer delight in the future. "We are embarking on a mission with a brand-new identity, as we enter 25th year of our operations. It will allow us to create our own identity and elevate and re-position the trusted Shriram brand among NextGen buyers," Shriram Properties Chairman and Managing Director Murali Malayappan told reporters here. He said the company would leverage technology in construction activities as well as providing various services to customers. "What we achieved in 25 years, we can do it in the next 7-10 years," Mur