Page 128 - Companies

Firms rev up plans to build massive battery storage capacity to power EVs

The capacities committed will come from companies eligible for PLI as well as other players; the largest capacity currently from a single company would be 20 GWh

Ikea to open small city outlets along with mega formats in India

Swedish furniture retailer IKEA plans to open small city outlets along with its mega format stores in India supported by online channel, tweaking its strategy in the wake of changing consumer behaviour, according to a senior company official. The company,which had in 2013 received government approval for its Rs 10,500 crore investment for opening stores in India, had envisaged setting up 10 furnishing and home-ware stores as well as allied infrastructure in over 10 years in India. Subsequently, it planned to open 15 more stores. So far it has set up three mega format stores in Hyderabad, Navi Mumbai and Bengaluru and two city centres in Mumbai. "A little bit slowed down during the COVID period but we are also learning from the first markets we have opened," IKEA India CEO Susanne Pulverer told PTI in an interview when asked about the impact of the pandemic on the company's expansion plans in the country. On the way forward, she said, We need to be close to where people are. So that

Apple's financial chief Luca Maestri sells stock worth $16.9 million

Apple's Chief Financial Officer Luca Maestri has sold shares worth $16.9 million as part of an arranged trading plan

Paytm shareholders reaffirm faith in Vijay Shekhar Sharma's leadership

Paytm held its 22nd annual general meeting (AGM), the first such meeting after it became a listed company in 2021

Govt amends rules for physical verification of cos' registered addresses

The government has amended rules to ensure a transparent process for the physical verification of companies' registered addresses, including by way of having the presence of independent witnesses and clicking a photograph of the registered office at the time of the verification. The rules under the Companies Act, 2014, have been amended by the corporate affairs ministry and will come into effect once notified in the Official Gazette. Under Section 12 of the Act, a Registrar of Companies (RoC) can do a physical verification of a company's registered office if he or she has a reasonable cause to believe that the company concerned is not carrying out business in a proper manner. Now, the process for such physical verifications has been put in place under the Act. The physical verification will be done in the presence of two independent witnesses of the locality in which the company's registered office is situated. If required, the assistance of the local police will be also sought, ..

Input cost volatility to keep plastic pipe maker Astral's margins in check

Market share gain continues, company seeks to double consolidated revenues in five years

India probes may adversely affect operating results or cash flows: Xiaomi

Chinese smartphone maker Xiaomi on Friday said the ongoing investigations and allegations in India could take a long period of time to settle that may adversely affect its operating results.

Hong Kong's AMTD, whose stock soared 32000%, faces regulatory scrutiny

The previously unreported probe by Hong Kong's securities watchdog into AMTD Group Co., which is run by former UBS Group AG banker Calvin Choi, predates the US listing of its unit AMTD Digital Inc

Over 59% employers keen on hiring freshers in July-December 2022: Report

Over 59 per cent of employers in India are keen on hiring freshers during the second half of 2022, 12 per cent more than the first half of this year, according to a report

Indian employees likely to see bigger salary hike in 2023, says report

Some of the sectors which have been included in the survey are- financial services, banking, and technology, media and gaming

Dunzo Daily to increase delivery time and reduce distance: Report

Company backed by Reliance Retail won't expand to new cities after burning more than Rs 100 cr in the last quarter

Flipkart $100 mn venture fund invests in 6 startups, will mentor them

Companies with a range of innovations will receive an equity investment of up to $500,000

More steam left in Bajaj Finance stock's rally, 20% uptick likely: Analysts

Lender could clock 40% annual profit growth between FY22-24

E-commerce solution provider Graas raises $40mn in funding round

Graas, a solution provider the for e-commerce industry, said on Wednesday that it has raised more than $40 million in the first close of a funding round.

Chai Point aims to become profitable in 2 qtrs, will expand business: CEO

Bengaluru-based startup plans bigger business for its brewing system and packaged product divisions.

EV charging start-up Exponent Energy raises $13mn in series A funding

Exponent Energy, an electric vehicle charging start-up, said has raised $13 million in a Series A funding round led by Lightspeed and attended by institutional investors.

Hero MotoCorp: Q1 disappoints, but there's hope of a better second half

Volumes and margins are expected to improve on the back of a good monsoon and decline in raw material costs, respectively

Syrma SGS Technology IPO: Issue subscribed 85% on the second day

Retail investor portion of the issue was subscribed 1.5 times, while high net-worth individual portion was subscribed 63 per cent

Six-day work weeks won't work anymore for new talent, says report

According to a report, companies with 6-day work weeks have to settle for leftover talent

Indian brands that made the world sit up and take notice

Independent India had many a brands that defined the segments they represented. From attacking social stereotypes to promoting national integration, these brands have done more than just sell products