Page 21 - Companies

Tata Steel to stop operations of coke ovens at Port Talbot plant

Coke ovens are manufacturing plants or blast furnaces for making coking coal, a key raw material in steelmaking

Poonawalla Fincorp's AUM surges 54% in Q4FY24, hits Rs 24,800 crore

'FY24 was the year of significant growth across all business parameters', said Abhay Bhutada, MD, Poonawalla Fincorp

Centre Court Capital launches Rs 350 cr maiden fund for sports, gaming

Fund has raised Rs 200 cr in commitments from investors, will focus on early-stage opportunities

Swiggy's executive exodus continues as vice president Karan Arora quits

The Vice President and Head of Supply Chain Management at Swiggy, Karan Arora, will join Convenio, an offline retail startup, as co-founder

PAG-backed Nuvama eyes Middle East for $400 million for first time

Nuvama also expects to raise another $100 million from the region for a new public equities long-short product

NALCO posts record cast metal production at 463,000 metric tonne in FY24

State-owned NALCO has made a record production of cast metal at 4,63,428 metric tonne during the financial year 2023-24. The company has also made its highest-ever metal sales of 4,70,108 metric tonne during the fiscal ended March 31, it said in a statement on Tuesday. The excavation of bauxite reached a record high of 7,600,230 metric tonne during the financial year 2023-24, NALCO said. According to the company, it has surpassed all previous records since its inception. NALCO CMD Sridhar Patra said, "Major milestones have been achieved by the company by way of backward integration and securitisation of raw materials and energy in the past four years on account of the dedication and hard work of the employees and cooperation received from various stakeholders." The company's alumina refinery has produced 21,24,000 metric tonne of alumina hydrate, while the captive power plant generated a gross 7,193.62 million units of power during the year. In FY 23-24, the entity also developed

More than 185,000 companies incorporated in FY24, highest in a fiscal year

More than 1.85 lakh companies were incorporated in the country in 2023-24, the highest number for any financial year. A total of 1,85,314 companies and 58,990 Limited Liability Partnerships (LLPs) were incorporated in the fiscal ended March 31. In a post on X, the corporate affairs ministry said the highest number of companies were incorporated during 2023-2024, "surpassing any of the previous financial years". A total of 1,59,339 companies and 36,249 LLPs were incorporated in 2022-23.

Only 4% of companies in India 'mature' to tackle cyber threats: Study

71% plan to upgrade their IT infrastructure in one to two years, says Cisco's 2024 Cybersecurity Readiness Index

IIT alumnus Pavan Davuluri to take charge of Microsoft Windows, Surface

Davuluri will lead a team focused on developing silicon systems for Microsoft's Windows and Surface products

TMB shareholders take the legal route to fast track MD appointment

Krishnan Sankarasubramaniam, TMB's managing director and chief executive officer, resigned from his position on September 28, 2023. He continues to serve until a new appointment is confirmed

HDFC Bank completes Rs 9,553 cr stake sale in education unit HDFC Credila

Central bank had asked private lender to reduce its shareholding in HDFC Credila

Radisson Group appoints Nikhil Sharma as MD, to take charge from April 1

Radisson Hotel Group on Wednesday announced the appointment of Nikhil Sharma as the Managing Director and Area Senior Vice President for South Asia, effective April 1. In his new role, Sharma will lead Radisson Hotel Group's operations in the dynamic South Asia region, which has over 165 hotels in operation and development. "Nikhil joins Radisson Hotel Group from Wyndham Hotels & Resorts (WHR) where he served as Market Managing Director Eurasia, overseeing business development, operations, new openings, and sales & marketing," Radisson Group stated. Before his time at Wyndham Hotels & Resorts, he held the position of Chief Operating Officer at Ginger Hotels, a brand under the IHCL conglomerate, the statement added. He was also a founding member of the Lemon Tree Hotel Company and a significant contributor to the growth of India's upscale hotel segment. "Nikhil's appointment reflects our commitment to strengthening our leadership team and driving strategic growth in South ..

Liquidnitro Games raises $5.25mn in seed round led by Nexus Venture

Hyderabad-based company will use money to build studio, invest in technology, strengthen production pipelines

Doing biz in China growing tougher, more uncertain: European business group

Uncertainty and draconian regulations have drastically raised risks for foreign businesses in China, a report by a European business group said on Wednesday. The lengthy paper by the European Union Chamber of Commerce in China urges China's leaders to do more to address concerns that it says have grown exponentially in recent years. This report comes at a time when the global business environment is becoming increasingly politicised, and companies are having to make some very tough decisions about how, or in some cases if, they can continue to engage with the Chinese market, it says. The study, compiled by the chamber and the China Macro Group consultancy, echoes concerns that have been raised by European and American companies operating in China. Foreign investment fell 8 per cent last year from a year earlier as companies recalibrated their commitments in the world's second largest economy. EU Chamber officials said China's changing business environment partly reflects moves by .

Deloitte's 'biggest reorganisation in decade' to simplify business: Report

Accounting and consultancy giant's main business units will be trimmed to four from five

Sun Pharma gets approval to sell acne treatment cream Winlevi in Australia

Collaboration with Cosmo enables rights for cream in several countries, says company

Despite IT slowdown, high demand for GenAI courses: Simplilearn CEO

The Blackstone-backed firm, which skills and trains people online, said that the demand for GenAI courses in India increased 195 per cent year-on-year in the first quarter of 2024

Near-term demand remains a concern for listed tile maker Kajaria Ceramics

Even as the March quarter and FY24 volumes are likely to be on the lower side, management and brokerage commentary suggest that recovery could be strong in FY25

Understanding the difference between large, mid, and small-cap funds

Companies are tagged such based on their market value; their risk profiles vary

EVs must adhere to strict localisation rules under new e-mobility scheme

Centre introduced Electric Mobility Promotion Scheme (EMPS) as a transitional scheme, which will be in place till June 2024 after FAME-II ends on March 31, 2024