Page 26 - Companies

Supriya Lifesciences targets Brazil, eyes Rs 200 crore sales in 2-3 years

This ambition follows the company's recent approval from Anvisa (Brazilian health regulatory agency), which has facilitated its entry into the Brazilian market

Mahindra World City signs deal with Tamil Nadu to invest Rs 1,000 cr

Real estate and infrastructure company says agreement will lead to jobs for more than 2,000 people

Paytm to invest Rs 100 cr in GIFT City to build global payments system

Service will 'reduce friction' in cross-border remittances, says fintech company ahead of Vibrant Gujarat summit

Auto retail sales in India grew 21% in December, 11% in 2023: Fada

In the near term and short term, the outlook of auto sales remains positive, despite an anticipated slowdown in the Kharmas period from December 16 to January 15

India may surpass FY24 target for state-run firms' dividends by Rs 12K-cr

So far this fiscal, India has received Rs 43,800 crore in dividends from state-owned firms, according government data.

CK Birla Group's Birlasoft names Manjunath Kygonahally as overseas CEO

Birlasoft appointed Manjunath Kygonahally as the Chief Executive Officer (CEO) for the Rest of the World (ROW) region. Kygonahally will be based in the United Kingdom

ICICI Venture to sell its entire 42% stake in patisserie chain Theobroma

The alternative investment arm of ICICI Bank is expecting the 20-year-old chain Theobroma to be valued at Rs 2,800 crore

M&M December sales: Domestic SUVs sales up 24% Y-o-Y on strong demand

Cars and vans saw a significant drop of 97 per cent Y-o-Y sales, with the company only selling three units in the last month of the calendar year

MICL Gr to invest Rs 50 cr for residential property redevelopment in Mumbai

The site is located at Mumbai's Pali Hill, the epitome of upscale living with scenic views, affluent residences, and a vibrant cultural scene, surrounded by lush greenery

More than 196,000 cos, LLPs incorporated till Nov this year: Govt

More than 1.96 lakh companies and Limited Liability Partnerships (LLPs) were incorporated in the country this year till the end of November, which is higher than 1.88 lakh such entities registered in the year-ago period, the corporate affairs ministry said on Thursday. Providing a review of the key developments during 2023, the ministry said in the framework of corporate governance, it continues to focus on bolstering 'ease of compliance' and 'ease of doing business'. "During calendar year 2023, 1,96,028 companies and LLPs got incorporated as on 30th November 2023 as against 1,88,364 companies and LLPs for the corresponding period during calendar year 2022," the ministry said in a release. Among others, in 2023, the Central Processing for Accelerated Corporate Exit (C-PACE) became operational in May. Amendments were also made to the Competition Act as well as to various rules under the Companies Act. "In an important development, the amendment to the Companies (Compromises, ...

LIC in discussion with RBI for access to debt data via CRILIC: Mohanty

Life Insurance Corporation (LIC) chairman Siddhartha Mohanty on Thursday said the state-owned insurer is "in active discussion" with the Reserve Bank of India and confident of getting access to central bank's debt database CRILIC. "It's an irony that despite being the largest debt investor, we don't have access to debt or the national debt database CRILIC. We are in active discussion with the regulator for the same and are confident of getting that access," Mohanty said at an economic conclave organised by SBI here. Central Repository of Information on Large Credits (CRILICS) is an RBI-run database of credit exposures of various lenders including those towards non-performing borrowers. Most of LIC's debt investments are in central as well as state governments' debt securities. The LIC chairman said that not having access to CRILIC data is a risk for the insurer as its liabilities are long-term while assets are short-term. The lack of access to CRILICS tilts the balance negatively

Power utility firm CESC approves proposal to raise Rs 300 cr through NCDs

Power utility firm CESC Ltd board has approved the issuance of 30,000 non-convertible debentures on a private placement basis to raise Rs 300 crore. Under the first issuance, 20,000 NCDs having a face value of Rs 1,00,000 each, for cash, at par aggregating to Rs 200 crore, will be issued on a private placement basis. In the second tranche, 10,000 NCDs having a face value of Rs 1,00,000 each, for cash, at par aggregating to Rs 100 crore, will be issued on a private placement basis. The committee of the Board, at its meeting held today (Wednesday), has approved the issue of the following secured, unlisted, redeemable, rated, non-convertible debentures (NCDs) on a private placement basis, a BSE filing stated.

Adani Energy Solutions bags Halvad Transmission project in Gujarat

Adani Energy Solutions also said that its arm, Adani Transmission Step-Four, will form a joint venture with UAE-based Esyasoft Holdings to implement smart metering projects

Apple in talks with Aequs, Rayprus to deepen manufacturing ops in India

Currently, Tata Electronics is the only Indian vendor for Apple, and it is also looking to double its casing facility

Paytm hands over 1,000 pink slips; staff from lending business affected

The decision to dismiss these employees comes weeks after the fintech company announced it would reduce the disbursement of small-ticket-size loans as RBI tightened norms

Paytm lays off over 1,000 employees as part of cost-cutting measures

The fintech giant's parent company, One 97 Communications, is working towards reducing its staff expenses by 10-15% over the ongoing financial year

Serum Institute of India to apply for licence of JN.1 Covid variant vaccine

Covid cases in India: On Friday, India recorded 640 fresh Covid-19 infections and the number of active cases now stands at 2,997

Ashok Leyland wins order to supply 552 buses to Tamil Nadu transport corpn

Commercial vehicle manufacturer will deliver the buses from April 2024

Two Promoter entities of Astral divest 1.74% stake worth Rs 885 crore

Two promoter entities of building materials and equipment company Astral Ltd on Wednesday divested 1.74 per cent stake in the company for Rs 885 crore through open market transactions. Kairav Chemicals Ltd and Saumya Polymers LLP were the promoter group entities who sold the shares of Astral. Nippon India Mutual Fund, Reliance Life Insurance Company, Star Union Dai-chi Life Insurance, National Pension System (NPS) Trust SBI, Morgan Stanley, the government of Singapore, Abu Dhabi Investment Authority, and Tara Emerging Asia Liquid Fund were the buyers of the shares. As per the block deal data available with the National Stock Exchange (NSE), Kairav Chemicals offloaded 10.60 lakh shares of Astral and Saumya Polymers sold more than 36.20 lakh shares, amounting to 0.39 per cent stake and 1.35 per cent stake, respectively, in the company. The shares were disposed of at an average price of Rs 1,889.80 per piece, taking the combined transaction value to Rs 884.56 crore. After the latest

Uday A Kaole appointed chairman-cum-managing director of Coal India arm MCL

Uday A Kaole has assumed the charge of the Chairman-cum-Managing Director (CMD) of Coal India arm Mahanadi Coalfields Ltd (MCL). Prior to joining MCL as its CMD, Kaole was the Director (Technical) at Bharat Coking Coal Ltd (BCCL). Kaole brings with him 36 years of rich technical and administrative experience in the coal mining sector. He has a long experience of working in challenging underground coal mines operations, as well as in the opencast mines, MCL said in a statement. He had joined Coal India as Junior Engineering (Trainee) in 1987 and served at various important positions in Western Coalfields Limited (WCL) and South Eastern Coalfields Limited (SECL). A mining engineering graduate from Nagpur University with the First Class Mine Manager competency certification, Kaole also has degrees of Master of Business Administration (MBA) and Legum Baccalaureus (LLB) from Nagpur University.