Page 140 - Companies

GE Shipping net profit jumps over three-fold to Rs 189 cr in March quarter

The company had posted a net profit of Rs 49 crore in the year-ago period, GE Shipping said in a BSE filing

Hero MotoCorp to ride high on volumes and low valuation, say analysts

Company's margins could expand on operating leverage and price hikes, say analysts

Uber posts net loss of $5.9 billion as Asia investment values fall

Khosrowshahi said Uber's driver base is at a "post-pandemic high" and that it expects engagement to continue "without significant incremental incentive investments."

Prudent Corporate Advisory Services prices IPO at Rs 595-630 per share

The Ahmedabad-based firm's IPO will open from May 10 to May 12

Adani Transmission net profit falls 7.6% to Rs 237 cr in March quarter

The consolidated net profit of the company was Rs 256.55 crore in the quarter ended on March 2021, according to a company statement

DCM Shriram Q4 profit up 73% at Rs 401 crore; revenue rises 31.16%

The company's profit after tax (PAT) stood at Rs 231.24 crore during the corresponding period of 2020-21

Apple's records 20% surge in global smartphone market share over 1 year

Apple has registered 20 per cent growth in the global smartphone market from the first quarter of 2021 till the same period this year, a new report showed on Monday.

Bodhi Tree to invest Rs 4,500cr in ALLEN, build biggest Indian test-prep co

Deal likely to close in three months

Phygital delivery helped cut digital divide during pandemic: Samagra CEO

Samagra, a mission-driven governance consulting firm, believes that governance can be the primary lever of change in creating large-scale impact through the use of technology

Inox Green Energy Services scraps IPO plans; withdraws draft papers

Inox Wind on Friday said its arm Inox Green Energy Services Ltd (IGESL) has decided to withdraw its proposed Rs 740 crore initial share sale offer. The Initial Public Offering (IPO) was slated to issue fresh shares worth Rs 370 crore, besides an Offer for Sale (OFS) of equity stocks aggregating to Rs 370 crore by Inox Wind. The company had filed the Draft Red Herring Prospectus (DRHP) for the proposed IPO on February 7 with the Securities and Exchange Board of India (Sebi). However, the draft offer documents for the IPO have been withdrawn on April 28 and the reasons for the withdrawal have not been disclosed. "We have been informed by the IGESL that its board of directors vide their resolution passed by circulation dated April 28, 2022, the letter of consent from us dated April 28, 2022, and the resolution dated April 28, 2022 passed by our committee on operations, has decided to withdraw the DRHP filed with Sebi, and accordingly, the DRHP has been withdrawn on April 28, 2022 vide

Shell agrees to buy Solenergi Power from UK-based Actis for $1.55 bn

Shell said its unit, Shell Overseas Investment, would buy 100% of Solenergi Power Private Limited, the flagship company of Sprng Energy group, from UK-based investor Actis

Tata Motors planning to launch long-range electric cars by 2050

Last year, Tata announced plans to launch 10 EV models by March 2026, investing about $2 billion

Chiratae Ventures plans to raise $600 million to bet on tech: Report

Chiratae has already invested $950 million in companies over the last 15 years

Drone maker ideaForge raises $20 mn in Series B from Florintree, Infosys

Qualcomm, Infina and Exim Bank also participated in the funding round for company that serves Indian security forces

JioSaavn appoints former Amazon Music director Sahas Malhotra as CEO

Music app firm JioSaavn has appointed former Amazon Music director and entertainment industry veteran Sahas Malhotra as its new CEO. Malhotra has earlier worked with Sony Music India and Tips Industries. At Tips Industries, Sahas was leading the business at Tips Music and marketing for Tips Film production. "Based out of the company's headquarters in Mumbai, Sahas will lead the company's endeavours in a constantly evolving and exciting Indian market. Sahas brings over 24 years of elaborate experience in the entertainment industry, in building teams, film marketing, music P&L management, licensing, media planning, music publishing and product management," JioSaavn said in a statement. Founded in 2007 as Saavn, JioSaavn is an audio streaming service for South Asian music and artists. In March 2018, Reliance Industries Limited (RIL) acquired a majority stake in the firm. JioSaavn claims to have over 100 million monthly active users.

NCLT directs to initate insolvency proceedings against Andhra Cement

The National Company Law Tribunal has directed to initiate insolvency proceedings against Andhra Cement, a company owned by the debt-ridden Jaypee Group. The Hyderabad bench of the NCLT (National Company Law Tribunal) has also appointed Nirav K Pujara as the Interim Resolution Professional (IRP) of the company, and declared a moratorium in respect of the company as per the provision of the Insolvency & Bankruptcy Code (IBC). "The company is now under CIRP (Corporate Insolvency Resolution Process) as per the provisions of the code. As per Section 17 of the code, the powers of the board of directors of the company stand suspended and as such the powers shall be vested with and exercised by the IRP," Andhra Cement said in a regulatory filing. The company has also shared the order passed by the insolvency tribunal on April 26, 2022, in this regard. Meanwhile, in a separate filing, Andhra Cement has invited its creditors to submit their claims by May 10, 2022, before the IRP. NCLT's ..

Bajaj Allianz General Insurance records profit of Rs 1,339 cr in FY22

Bajaj Allianz General Insurance on Thursday said its profit remained flat at Rs 1,339 crore for the 2021-22 financial year against Rs 1,330 crore in the previous financial year.

Hindustan Unilever Q4 net up 5%; annual turnover crosses Rs 50,000 crore

HUL's reported numbers were better than industry growth. The company's volume growth was flat in the quarter compared with a contraction of 8 per cent for the industry

Corporate misgovernance in India

NSE has blotted its record even with separate chairman and managing director roles

Sebi approves Radiant Cash Management, Veranda Learning for IPOs

Radiant Cash Management Services and Veranda Learning Solutions have received the go ahead from capital markets regulator Sebi to float their IPOs.