Page 161 - Companies

Corp Affairs Ministry giving more leeway for firms to hold AGMs virtually

The corporate affairs ministry on Tuesday provided more leeway for companies in terms of holding annual general meetings in virtual mode.

Walmart-owned PhonePe digitises 25 mn merchants, kirana stores across India

The company said that offline merchant transactions on its platform have shown 200 per cent growth since last year

Gravita India starts battery recycling unit in Gujarat; to invest Rs 62 cr

Recycling firm Gravita India on Monday said it has operationalised its new battery recycling unit near Mundra Port in Gujarat and plans to invest a total of Rs 62 crore

Investors push world's top chemicals companies over hazardous substances

Investors managing $4.1 trillion in assets are urging the world's biggest chemicals companies to phase out production of hazardous substances

Nandan Terry files draft offer document for maiden IPO of up to Rs 254 cr

Ahmedabad based company, Nandan Terry Limited, belonging to Chiripal group, a textile conglomerate, filed draft offer document with the regulators.

Paytm GMV more than doubles to Rs 1.66 trn in Oct-Nov 2021 period

Paytm reported over two-fold rise in its gross merchandise value to about Rs 1,66,600 crore in the first two months of the third quarter of this fiscal, driven by sharp uptick in loan disbursals

Vietnam's Masan eyes international IPO for retail unit in 2023-2024

Vietnamese conglomerate Masan said on Monday it was considering launching an international initial public offering for its consumer retail unit The CrownX in 2023-2024

Shiprocket closes $185 mn funding round, led by Zomato, Temasek, Lightrock

E-commerce logistics firm Shiprocket said it has signed definitive agreements for a $185 million (Rs 1,380 crore) Series E funding round

India Ratings launches ESG relevance disclosure on rated companies

India Ratings and Research launched its integrated disclosure that shows how environmental, social, and governance (ESG) factors impact individual credit rating decisions

PDD signs power purchase agreement with SECI for solar project in Leh

The PPA was signed between chief engineer, PDD Ladakh, Ghulam Ahmad Mir and Senior Manager (Projects), SECI, Debajyoti Bordoloi

'Execution blunder': Better.com CEO apologises after firing 900 employees

Better.com CEO Vishal Garg fired 900 people last week via a Zoom call

Google to give all employees additional bonus of $1,600 this year

The latest benefit is in addition to Google's work-from-home allowance and well-being bonus

Major e-commerce companies failed to meet net zero-emission targets: Study

Majority of the companies in the last mile delivery sector have weak commitments in India, a latest study has found out.

Tata Motors 'to invest' Rs 7,500 cr in commercial vehicles, focus on EVs

Company reportedly working on a range of options that include short-range battery-operated vehicles for the last mile with small CV offerings

No extension in AGM deadline beyond June 30, 2022 for companies: MCA

MCA has said that its circular should not be construed as conferring any extension of time for holding annual general meetings by the companies under the Companies Act, 2013.

EV scooter startup Simple Energy to invest $330 mn for new Tamil Nadu units

Simple Energy plans to invest as much as 25 billion rupees ($330 million) in new capacity to make electric scooters, with support from the government in Tamil Nadu

Frequent CEO changes reduce cos potential to improve equity premium: Study

Companies that frequently changed chief executive officers (CEO) have reduced potential to improve equity premium, thereby hurting shareholders' long-term returns, according to a study. The study tracked a few Nifty 50 companies over a 15-year period. The companies with fewer CEO transitions enjoyed more than twice the average premium CAGR of 3 per cent, against those with frequent chief executive transitions during the period, as per the study. The finding was part of a study conducted by Deloitte India on "What sets outperforming CEOs apart and how boards can help". It analysed the financial performance of companies after the appointment of the new CEO. Stability and continuity of CEOs and their policies ensured higher returns, the study noted. Most resignations or removals occurred in the services industry compared to the manufacturing industry, it added. Services companies saw appointments of relatively younger CEOs. Among other findings, it was also found that outperformin

Star Health cuts IPO size to about $848 mn after tepid subscription

Star Health has cut the size of its initial public offering (IPO) to 64 billion rupees ($848.02 million) from 72.49 billion rupees

Visa launches crypto advisory service for financial institutions, merchants

Visa Inc launched a global crypto advisory service for clients such as banks and also merchants, as the adoption of digital currencies gains steam

Meta unveils new office in India, company's 1st such stand-alone in Asia

In a bid to scale its India operations, Meta (formerly Facebook), on Wednesday unveiled its new office here which is said to be the company's first stand-alone office in Asia.