Page 129 - Companies

Not getting probed for any financial irregularity: Trell co-founder

Influencer-led video commerce platform Trell is not being investigated for any financial irregularity, said its co-founder Pulkit Agrawal as he looks to steer the startup to reach break-even by the end of current fiscal. Opening up on reports of a cohort of investors ordering a forensic audit of Trell, Agrawal said speculations about any financial irregularities are "totally baseless and unfounded". "There was no investigation but an internal review done by the company itself. Growing at a rapid pace has its challenges, and after an independent review, we have been further realigning our systems and processes to ensure more robust and sustained growth," he said. The company's board and investors of Trell remain deeply committed to the business and have full faith in the founders and the leadership of the company, he claimed. While the reports did not identify the investors who ordered the audit, Trell counts on H&M Group, Sequoia Capital India, Mirae Asset, KTB Network, Beenext, ..

Prestige Estates aims to sell properties worth Rs 12,000 crore this fiscal

Prestige Estates Projects Ltd has a strong presence in South India and the company has made its foray into Mumbai market

RIL, Nayara face windfall profit tax on local supplies alongside exports

The government on July 1 levied Rs 13 per litre additional excise duty on diesel exported out of India

Johnson & Johnson drops talcum baby-powder globally as lawsuits mount

J&J said that it had made the "commercial decision" to transition all its baby powder products to use cornstarch instead of talcum powder

Samsung's Vice Chairman Jay Y Lee pardoned by S Korea, may rejoin board

South Korean President Yoon Suk Yeol has cleared the heir to the country's biggest company of bribery charges, for which Lee spent 18 months in prison before his release on parole a year ago

Pidilite Industries may not raise prices as raw material cost moderates

In its market outlook the company said the global operating environment in terms of inflation, currency and supply chain disruptions remain fragile and might impact margins

Dabur's chairman Amit Burman resigns, will remain non-executive director

Saket Burman has been appointed as the non-executive vice chairman of the board of directors with effect from August 11 for a period of 5 years

Head of Tata Trusts may be disallowed from heading a Tata Group company

Ratan Tata was the last person to chair both the companies, Tata Sons and Tata Trusts, after JRD Tata. He is deliberating on the issue to ensure that the interests of both companies are protected

New additions to Bullet family augur well for Eicher Motors stock

Valuations, however, factor in the gains

Discount broker Zerodha faces snag in early trade, issue resolved

A company spokesperson said the price was not ticking for a few customers, and the issue has been fixed now

Adani Group plans to invest Rs 57,575 crore in two Odisha projects

The group will also set up a 175 megawatt capacity captive power plant (CPP) at Kashipur of Rayagada district

LIC ropes in Milliman Advisors to derive September embedded value

Embedded value is an important metric that indicates an insurance company's performance, and is the sum of adjusted net worth and value of in-force business or estimated future profits

Tyre maker Balkrishna Industries FY23 volume, margin seen under pressure

Company's near term will be tough, but brokerages believe it will continue to gain market share

Numberwise: Foreign companies' interest in India fades, shows data

The number of firms active in the country is declining and new manufacturing concerns are scarce

Adani group to invest Rs 57,575 cr to set up alumina mill in Odisha

In a press statement, the group said it will set up a 4-million tonnes a year alumina refinery near bauxite mines as well as an iron ore project

HDFC executes unusual trade to hedge borrowings against interest rate risk

The switch in hedging tools comes as markets are buffeted by surging policy rates, with the Reserve Bank of India having hiked by 140 basis points since May to tackle inflation

Prep for funding winter: SoftBank warns its portfolio firms of cost cutting

Japanese tech investor asks portfolio firms to conserve cash reserves for 12-24 months

Former employees of JPMorgan accused of bullion-market manipulation

The jury will begin deliberations on the case late on Friday

B2B platform CleverTap to raise $105 million from CDPQ and others

B2B SaaS platform CleverTap on Wednesday said it has signed agreements to raise USD 105 million, about Rs 834 core, in the fourth stage of its funding round led by global investment group CDPQ.

S&P affirms ANI Technologies' 'B-' rating on sufficient liquidity

ANI Technologies Pte Ltd is scaling back its growth aspirations in loss-making segments to reduce capital requirements