Page 150 - Companies

Telcos seek spectrum allocation via auction only, satellite players oppose

Telecom players have demanded up to 95 per cent cut in reserve price for spectrum in mid-frequency range

Star-studded startup Socialswag gets IMEF on board for next stage of growth

Its promoters and founders include celebrities such as actors Akshay Kumar and Rana Daggubati as well as tennis ace Mahesh Bhupati among others

Torrent Pharma net profit drops 16% to Rs 249 crore in third quarter

The company's revenue from operations in the third quarter stood at Rs 2,108 crore as compared to Rs 1,995 crore in the same period of previous fiscal

HUL says India continues to be among top 3 priority markets for Unilever

Hindustan Unilever said India continues to be among the top three priority markets for its parent Unilever, which has announced an organisational restructuring

GE T&D India to sell global engineering biz to GEIIPL for Rs 140 crore

GE T&D India Ltd board has approved a proposal to sell its Global Engineering Operations Division (GEOD Business) to GE India Industrial Private Ltd (GEIIPL) via a slump sale for a cash consideration of Rs 140.6 crore. "The company has, in the meeting of its board of directors that was held on January 24, 2022, agreed to sell its Global Engineering Operations Division (India for Global) (GEOD Business) to GE India Industrial Private Ltd (GEIIPL) (a related party) together with the assets and manpower comprised therein along with its corresponding liabilities by way of a slump sale on an "as is where is" basis," a BSE filing said. The GEIIPL (the buyer) is a company incorporated under the Companies Act, 1956, and it is a part of the General Electric Group. As per the filing, the lump sum consideration for sale is Rs 140.6 crore and the Business Transfer Agreement is expected to be executed by January 31, 2022. The expected date of completion of sale is March 31, 2022, subject to .

Finolex Industries' net profit declines 30.5% to Rs 178 cr in Dec quarter

Finolex Industries reported a massive 30.5 per cent decline in net income to Rs 1,177.8 crore for the three months to December 2021 from Rs 255.9 crore a year ago

Indiabulls Real Estate reports Rs 87 crore loss in December quarter

Indiabulls Real Estate Ltd (IBREL) reported a consolidated net loss of Rs 87.21 crore for the quarter ended December.

Inox Wind Energy gets shareholders' nod to raise up to Rs 90 crore

Inox Wind Energy on Tuesday said it has got shareholders' approval to raise up to Rs 90 crore through issuance of 10.62 lakh convertible warrants. The approval was received at its Extraordinary General Meeting (EGM) on Tuesday. The convertible warrants will be issued at the rate of Rs 847 per unit, as per the notice for the EGM. The money will be used for meeting the funding requirements of the company, its subsidiaries' consolidated business operations and for general corporate purposes. On December 27, 2021, the company's board had approved a proposal to this effect. As per the proposal, the funds will be raised in one or more tranches, within a period of 18 months from the date of allotment of the warrants, aggregating to up to Rs 90 crore on preferential basis. According to the EGM notice, it was proposed to issue 8,26,446 warrants worth up to Rs 70 crore to Devansh Trademart LLP, part of the company's promoter group. Besides, the company will issue 2,36,128 warrants worth u

Adani Wilmar raises Rs 940 crore from anchor investors ahead of IPO

Adani Wilmar Ltd said it has garnered Rs 940 crore from anchor investors, days before its IPO roll-out

Max India reports Rs 5.7 crore consolidated net loss in December quarter

Total income rose to Rs 42.83 crore in the third quarter of this fiscal from Rs 34.20 crore in the corresponding period of the previous year

Aavishkaar Capital, KfW launch $250 million ESG First Fund

The fund will focus on strengthening the Environmental, Social and Governance (ESG) practices of mid-cap businesses

Uttam Galva Steels net loss soars to Rs 59 crore in December quarter

Uttam Galva Steels Limited posted a consolidated net loss of Rs 59.64 crore during the third quarter ended on December 31, 2021.

Cosmo Films Q3 net profit rises 66% to Rs 104.4 crore; revenue up 35%

In a separate filing, Cosmo Films said its board on Tuesday declared a second interim dividend of 100 per cent, or Rs 10 per equity share

RPG Life Sciences net profit rises 14% at Rs 15 crore in third quarter

RPG Life Sciences said its net profit increased 14 per cent to Rs 14.63 crore for the third quarter ended December 31, 2021.

Raymond Q3 net profit at Rs 101.07 crore, income rises 48.25%

Raymond Ltd on Tuesday reported a multifold jump in its net profit to Rs 101.07 crore for the third quarter ended in December 2021. The company had posted a net profit of Rs 22.18 crore during the October-December of the previous fiscal, Raymond said in a regulatory filing. Its revenue from operations was up 48.25 per cent to Rs 1,843.39 crore during the quarter under review as against Rs 1,243.44 crore in the corresponding period of the previous fiscal. According to the company, it has reported "highest profitable quarter in last 10 years" and its revenue is now "100 per cent of pre-Covid levels". Commenting on the result, Raymond Chairman & Managing Director Gautam Hari Singhania said: "With our focused approach on capitalizing on the growing demand for our products and continued cost optimization, we delivered record profitability. We generated free cash flows to reduce debt and are progressing towards being a net debt free business." Raymond's total expenses were at Rs ...

American Express profits jump 20% on card spending in fourth quarter

The jump in AmEx's earnings came entirely from record cardmember spending in the last three months of the year

Sterlite Technologies bags around Rs 170 crore deal from Power Grid

The company said it has already been supplying optical fibre cables and has developed a communication network for Power Grid Corporation of India Ltd

FDI policy: 'Bringing clarity to press-note 3 is a step in right direction'

Press-note 3 requires that all investments from entities will have to be made under the 'approval route' and will require security clearance

Pernod Ricard plans to set up its own branded retail outlets in India

World's second largest wine and spirits firm banks on a direct-to-consumer strategy rather than intermediaries

AGI glaspac opens Rs 400 crore manufacturing unit in Telangana

AGI glaspac, which is among the largest container glass bottle manufacturers, has commissioned its specialty glass manufacturing unit at Bhongir in Telangana at an investment of Rs 400 crore