Page 14 - Companies

Lonely dead pool club: Shutdowns fall 99.8%, startups face a zombie threat

While founders have now become more prudent, there are firms that continue to burn cash to survive and may soon end up in the dead pool once their runway ends

QMS Medical acquires 51% stake in Saarathi Healthcare for Rs 45 crore

QMS Medical Allied Services on Friday said it has acquired a 51 per cent stake in Saarathi Healthcare for Rs 450 crore. Mumbai-based QMS MAS is engaged in the marketing and distribution of a wide range of medical products. "The acquisition of Saarathi is the natural extension of our services and another step of our expansion plan. Where QMS MAS specializes in patient screening, Saarathi specializes in disease management leading to better disease outcomes essentially enabling us to provide a comprehensive portfolio to our clients," QMS Medical Allied Services CMD Mahesh Makhija said in a statement. This move will have a significant addition to company's revenues and profitability from the onset of the next fiscal year, he added. Saarathi Healthcare Founder & CEO Ranjeeta Vinil said the companies will forge ahead with collective strength in products and services.

Tata Steel shuts 1 of its 2 blast furnaces at Port Talbot in South Wales

The decommissioning of blast furnace number 5 was in sync with the timeline indicated by the company earlier

New launch success, Jaguar Land Rover margin key for more gains in TaMo

Restructuring of domestic operations over the next year, new launches, higher sales at subsidiary Jaguar Land Rover (JLR), and further deleveraging are key triggers for the stock

YC-backed AI startup Pivot Robots raises funding from NuVentures

Pivot Robots, founded last year by two Carnegie Mellon University graduates Siddharth Girdhar and Vignesh Rajmohan, uses artificial intelligence to power automation in the manufacturing sector

We have strong pipeline of over $50 mn AI-led deals: Sonata Software CFO

A strong pipeline of large deals is expected to drive growth for the Bengaluru-based company

LG Electronics plans IPO in India to boost fundraising, claims report

A South Korean business daily reported that the LG Group has approached foreign investment banks and local law firms to discuss the listing of LG Electronics in India's stock market

Report indicates no fraud at Byju's, Govt says probe is still underway

The Ministry of Corporate Affairs' investigation offers some relief to Byju's, as it temporarily halts any new scrutiny by Indian officials on already investigated issues

Decarbonisation strategy: Tata Steel, Dutch govt may finalise deal by FY25

Decarbonisation at Ijmuiden plant will be in two phases, with one blast furnace to be replaced before 2030

Byju's moves Karnataka HC against NCLT order barring second rights issue

The National Company Law Tribunal (NCLT) Bengaluru on June 12 told Byju's to maintain the status quo with regard to existing shareholders and their shareholding

Your next smartphone can come pre-installed with India's own Indus Appstore

PhonePe is in advanced talks with major smartphone manufacturers to include its homegrown Indus Appstore in their devices

Hindustan Zinc, AEsir Tech tie up for developing next-gen zinc batteries

Hindustan Zinc Ltd on Friday said it has partnered with US-based AEsir Technologies, Inc for development of next-generation zinc batteries. The company has signed a memorandum of understanding (MoU) with AEsir Technologies, Inc., a company that specialises in next-generation zinc battery technologies, to be the preferred supplier of zinc, a key raw material, Hindustan Zinc Ltd (HZL) said in a statement. The MoU is in line with the company's efforts towards exploring emerging applications of zinc in the clean energy transition, it said, adding that zinc batteries are revolutionising energy storage due to their corrosion resistance, cost-effectiveness, recyclability, stability and environmental friendliness. "This partnership with AEsir Technologies is yet another step in our ongoing developmental work in the emerging clean technology space. "By providing high-quality zinc for cutting-edge energy storage, we are opening sophisticated new avenues for environmentally friendly solutions

Sun Pharma inks MoU with Takeda to introduce gastrointestinal drug in India

Sun Pharmaceutical Industries on Friday said it has inked a licensing pact with Takeda Pharmaceutical Company to commercialise a novel gastrointestinal drug in India. The company has entered into a non-exclusive patent licensing agreement with Takeda to commercialise Vonoprazan tablets in strengths of 10 and 20 mg in India, the Mumbai-based drug major said in a statement. Vonoprazan is a novel, orally active potassium competitive acid blocker (PCAB), used to treat reflux esophagitis and other acid peptic disorders. "Sun Pharma is a leader in gastroenterology and we are excited to introduce Vonoprazan in India under non-exclusive patent license from Takeda," Sun Pharma CEO - India Business Kirti Ganorkar said. The partnership demonstrates the company's commitment to gastrointestinal health by providing patients and healthcare practitioners with a novel treatment option to manage reflux esophagitis and other acid peptic disorders, he added. Gastroesophageal Reflux Disease (GERD) is

Meril launches indigenously developed knee-replacement robotic system

The company claimed that at Rs 2 crore, MISSO is priced around 66 per cent lower than the available robotic knee replacement systems in the Indian market

AI platform OrbitShift raises $7 million to expand product footprint

OrbitShift claims that it has reduced research and sales planning time by 40-50%

TaMo announces third price hike for CVs in 2024 amid rising commodity costs

This hike will be applicable across the entire range of commercial vehicles, with variations depending on individual models and variants

EESL ties up with APEPDCL to promote energy efficiency, conservation

State-owned Energy Efficiency Services Ltd (EESL) on Wednesday said it has partnered with Andhra Pradesh Eastern Power Distribution Company Ltd (APEPDCL) to promote the adoption of energy efficiency and enable energy conservation within the power distribution sector. Under the 'Energy Efficient Appliance Programme', the partnership will provide a comprehensive energy efficiency solution to both residential and institutional consumers of APEPDCL. The discom portal will raise consumer awareness about the energy efficiency solutions programme through web portal, text messages, and WhatsApp. "EESL has signed an agreement with APEPDCL to promote the adoption of energy efficiency and enable energy conservation within the power distribution sector. The agreement aims to provide access to energy-efficient solutions, extending the benefits of savings of electricity bills for consumers at a large scale," EESL said in a statement. "This partnership is poised to deliver substantial benefits to

WeWork gets CCI nod to sell stake in local unit, exit Indian market

Deal value not revealed; regulator expected to release detailed order is likely later

IT firms grapple with new anti-dumping duty on PCBS under PLI scheme

Mobile phone manufacturers are exempt from this duty, whereas more complex PCB designs are also spared