Page 141 - Companies

Wipro announces acquisition of global SAP firm Rizing for $540 mn

The deal, which is expected to close by June 30, will strengthen acquirer's capabilities in large SAP transformative engagements

HDFC Life's net profit jumps 12% to Rs 357 cr; VNB margins at 29.3%

The firm settled some 390,000 claims in FY22, with gross and net claims paid of Rs 5,804 cr and Rs 4,328 cr, respectively. It was carrying excess mortality reserves of Rs 55 cr at the end of Q4

Campus Activewear IPO subscribed 1.24x on Day-1 on retail interest

The retail portion was subscribed 1.9 times, HNI 1.32 times and institutional investor portion was subscribed 9%

Chennai-based Prodapt to double UK exposure with £50 mn tech investment

Aims to create over 500 jobs, had set up new office in London earlier this year

Ola to recall 1,441 units of S1 after getting govt's rap on knuckles

Another EV battery blast in Boom e-bike claims life in Vijayawada

Govt moves ahead with proposal to merge Coal India arm with MECL

The government is moving ahead with a proposal to merge Coal India arm CMPDI with the Mineral Exploration and Consultancy Ltd (MECL) and will prepare a cabinet note on the same. Central Mine Planning & Design Institute Ltd (CMPDI) is the planning and design arm of Coal India Ltd (CIL). The mines ministry, in a letter to the CMDs of MECL and CMPDI, sought details such as profitability, turnover, current order books and current position of manpower of the companies in preparation of the merger. The government "has approved the merger of MECL and CMPDI. In order to work out the modalities for preparation of the cabinet note, the... information may be provided to the Ministry of Mines," the official memorandum said. The information sought also includes the authorised capital and paid up capital, details of assets, establishments and valuation, among others. In a letter to Coal Minister Pralhad Joshi, All India Association of Coal Executives (AIACE) Principal General Secretary P K ...

ITC to acquire 10% stake in Blupin Technologies for up to Rs 39.34 crore

Diversified entity ITC on Thursday said it will acquire 10.07 per cent stake in Blupin Technologies Pvt Ltd, the company behind direct-to-consumer(D2C) brand, Mylo for up to Rs 39.34 crore.

Tata Communications profit in fourth qtr grows 22% to Rs 365 crore

Digital connectivity solutions firm Tata Communications on Thursday posted a 22 per cent growth in consolidated profit at Rs 365 crore for the quarter ended March 2022.

HDFC Ltd divests 1% stake in Ansal Housing for nearly Rs 49 lakh

Housing finance major HDFC Ltd on Tuesday divested 1 per cent stake in real estate company Ansal Housing & Construction Ltd through an open market transaction. According to bulk deal data available with the NSE, Housing Development Finance Corporation Ltd (HDFC) sold a total of 5,74,726 shares, amounting to 0.96 per cent stake of Ansal Housing Ltd. The shares were offloaded at an average price of Rs 8.47 apiece, valuing the transaction at Rs 48.67 lakh. The scrip of Ansal Housing closed 2.53 per cent lower at Rs 7.70 apiece on the NSE.

Future Retail EGM for shareholders, creditors to be held on Apr 20, 21

The electronic voting process for shareholders of Future Retail ended on Tuesday ahead of the meetings of the shareholders and creditors to approve the sale of company's assets to Reliance Retail

Johnson & Johnson suspends its Covid-19 vaccine sales forecasts

Johnson & Johnson is suspending sales forecasts for its COVID-19 vaccine only a few months after saying the shot could bring in as much as USD 3.5 billion this year. The health care giant said Tuesday that a global supply surplus and demand uncertainty prompted the move, which will not affect the company's operational earnings per share guidance. J&J's one-shot vaccine brought in USD 457 million in global sales during the first quarter, with most of that coming from outside the United States. The vaccine brought in only USD 75 million in sales in the US, or about 25 per cent less than what it rang up after debuting in last year's first quarter. J&J has said it doesn't intend to profit from the vaccine. But it said in January that it could bring in between USD 3 billion and USD 3.5 billion in sales this year, as countries continue to fight variants of the virus. The vaccine brought in USD 2.38 billion in sales last year. Vaccine options from rival drugmakers Pfizer and ...

Kolte-Patil Developers FY22 sales bookings up 45% to record Rs 1,739 crore

Realty firm Kolte-Patil Developers Ltd said its sales bookings rose 45 per cent to a record Rs 1,739 crore during the last fiscal year on higher volumes as well as average price realisation

Brookfield-led group nears $2.7-billion Australian firm Uniti takeover

The Adelaide-based residential broadband provider said on Thursday it had agreed to a deal at A$5 per share

Prasol Chemicals files draft papers with Sebi; eyes up to Rs 800 cr via IPO

Specialty chemical company Prasol Chemicals has filed preliminary papers with capital markets regulator Sebi to raise as much as Rs 800 crore through an initial share-sale. The IPO comprises fresh issue of equity shares aggregating up to Rs 250 crore and an offer-for-sale (OFS) of up to 90 lakh equity shares by existing shareholders, according to the draft red herring prospectus (DRHP). The company may consider a further issue of equity shares aggregating up to Rs 50 crore. If such placement is completed, the fresh issue size will be reduced. As per market sources, the company is likely to raise around Rs 700-800 crore. The proceeds from the fresh issue to the tune of Rs 160 crore will be used for payment of debt and Rs 30 crore for working capital requirements. Besides, funds will be used for general corporate purposes. Since its inception, Prasol Chemicals, a forward integrated manufacturer of acetone and phosphorus derivatives, has expanded its business and scope of operations,

Impressive start: Super app 'Tata Neu' is a superhit among customers

Tata Neu's ranking slipped slightly over the past two days to Number 5 - behind Meesho, Flipkart's social commerce platform Shopsy

Irina Ghose named Microsoft India COO as Rajiv Sodhi gets global role in US

A Microsoft veteran for over two decades and a diversity and inclusion champion, Ghose has held a variety of strategy and sales leadership roles, most recently leading cloud solutions in India

Google-backed Glance launches live content platform for smart TVs

Glance TV aims to be present on approximately 30 per cent of all smart TVs in India soon

Nifty companies likely to see 29% surge in Q4 corporate earnings

Rise in combined net profit likely to be led by banks, oil & gas companies, and Tata Motors

India's major drug players bet on new brand launches, shows data

Industry insiders say brand launches are the lifeline of the pharma industry, and ensure steady volume growth and market share

NCLT approves Tata Steel Mining's resolution plan for Rohit Ferro-Tech

Tata Steel on Thursday said the Kolkata bench of the National Company Law Tribunal (NCLT) has approved the resolution plan submitted by its wholly-owned subsidiary Tata Steel Mining Limited, for the acquisition of debt-laden Rohit Ferro-Tech Limited. On June 6, 2021, Tata Steel had informed that the Committee of Creditors (CoC) in terms of the Corporate Insolvency Resolution Process of the Insolvency and Bankruptcy Code 2016, declared Tata Steel Mining Limited as the successful resolution applicant for the acquisition of Rohit Ferro-Tech Ltd, subject to necessary regulatory approvals including approval from the NCLT Kolkata bench. The NCLT on April 7, 2022, "orally pronounced its Order approving the Resolution Plan submitted by TSML for acquisition of Rohit Ferro-Tech Limited," Tata Steel said in a regulatory filing. However, Tata Steel did not divulge any further details related to its resolution plan in the filing. In a bid to augment its ferro alloys processing capacities, Tata