Page 117 - Companies

Meta's corporate development head Zoufonoun to step down after 12 years

Meta's top executive Amin Zoufonoun, who led Facebook's acquisitions of Instagram, WhatsApp, and Oculus, has confirmed that he is leaving the tech giant after 12 years

Cash-for-gold lender Muthoot Finance joins trend shunning new dollar debt

Muthoot Finance Ltd. is extending a trend in emerging Asia that's dragged down bond issuance in the US currency to its lowest since 2015

Persistent Systems targets to double revenues to $2 bn in 4 years

Mid-tier IT company Persistent Systems on Thursday said it is targeting to double the revenues in four years to USD 2 billion. "We will aim to be a USD 2 billion revenue company in four years," its chief executive Sandeep Kalra told PTI, a day after the company achieved its USD 1 billion in annualised revenue by posting a 40 per cent rise in the topline to USD 255 million in the September quarter. Kalra said the company's quarterly revenues stood at USD 125 million three years ago, and the rate of doubling will take longer at four years now, given that it will be a bigger size. In the results for the September quarter declared on Wednesday, the Pune-headquartered company posted a 51.6 per cent jump in revenues in the rupee terms to Rs 2,048 crore and a 36 per cent rise in the post-tax net at Rs 220 crore. Its chief financial officer Sunil Sapre said the demand for services continued to be robust, the pipeline is also strong and the company will target sustaining the momentum. It ..

Adani Enterprises to raise Rs 1,000 cr via public issue of debentures

CareEdge has assigned 'A+' to the proposed issuance of debentures. It also reaffirmed ratings for long-term bank ratings 'A+' and short-term facilities 'A1+'

Hybrid model of work most preferred, work from office pushing up attrition

In the companies that announced work from the office in the next few months, the attrition rate was recorded at 29 per cent in August, a survey by HR solutions company Aon showed

India Inc hiring forensic companies to weed out moonlighters: Report

Forensic companies are checking voice samples to single out employees that are using Zoom for interviews with other companies

Top headlines: Hikes, bonuses come down for IT firms, GACs in IT rules

The crazy salary hikes and bonuses with attrition hitting the roof is finally tempering down for the Indian IT services sector. Read more in our top headlines

RHI Magnesita India acquires Hi-Tech's refractory business for Rs 621 crore

RHI Magnesita India Limited on Wednesday said it has acquired the refractory business of Hi-Tech for Rs 621 crore in an all-cash deal. RHI Magnesita India Ltd is the leading global supplier of high-grade refractory products used by major industries, including steel, cement, non-ferrous metals and glass. In a BSE filing, the company said it "has executed...with Hi-Tech Chemicals Limited (Hi-Tech) vide agreement for the acquisition of the refractory business of Hi-Tech by way of a slump sale on a going concern basis for a cash consideration of Rs 621 crore". On the objective of the acquisition, RHI Magnesita India said it will strengthen and enlarge its offering to enhance the company's position in the domestic and international flow-control refractory business. Speaking to PTI over the phone, Parmod Sagar, MD & CEO of RHI Magnesita India said, "This acquisition is pursuant to our strategic inorganic growth strategy in India. It testifies to our strong commitment to increasing our ..

Mother Sparsh gets second investment from ITC, eyes Rs 100 cr in Series B

Announcement comes on heels of Mother Sparsh's entry into the diaper segment with the launch of Plant-Powered cloth diapers. The firm had raised Rs 20 crore in Series A from ITC last November

Nestle India's profit rises 8.3% to Rs 668 cr in Q2, tops estimates

The Maggi noodles maker's profit rose 8.3% to Rs 668 crore ($81.1 million) in the quarter ended Sept. 30

Can Fin Homes revamping top management; new CEO before end of Dec

Mortgage lender may raise equity capital before closing Q4 of FY23

CEOs of Indian companies get nearly 4% compensation hike in FY22

According to members of nomination and pay committees of several blue-chip corporations, there is a growing trend of linking CEO salaries to results and performance

IDBI stake sale: To help the buyer, centre asks Sebi to ease norms

The government offered to sell a total of 60.72% stake in the IDBI bank, in early October

66% CEOs in India expect recession in 2023; layoffs on the cards

Eighty-six per cent CEOs in India, compared to 71 per cent CEOs globally, predict that a recession will impact company earnings by up to 10 per cent over the next 12 months.

D2C meat brand Pescafresh to expand presence in Bengaluru, Gurugram

Will set up processing units conforming to HACCP and FSSAI standards at both locations by November

Musk's SpaceX seeks DoT's nod for Starlink broadband-from-space services

Bharti Group-backed OneWeb and Reliance Jio have already received DoT's approval for GMPCS licences

Why women in leadership roles are quitting at faster rate than ever

For every woman at the director level who gets promoted, two female directors are choosing to leave their company, according to a new McKinsey & Co. and LeanIn.org report

Parle in talks to acquire Polish biscuit brand dr Gerard, says report

dr Gerard was launched in 1993 and has over 200 varieties of biscuits and salty snacks. In 2013, it was acquired by Bridgepoint for an undisclosed sum

Centre to infuse Rs 5,000 crore in state-run general insurers: Report

On October 14, the finance ministry notified the wage revision plan for officers and employees of state-run insurers which is expected to cost Rs 8,000 crore to these companies

IRFC profits nearly doubled under outgoing CMD Amitabh Banerjee

Banerjee joined IRFC in 2019 after serving as the director of finance at Konkan Railways