Page 27 - Companies

Adani Green Energy announces incorporation of step-down subsidiaries

Earlier this month. Adani Green also announced that it has sealed its largest project financing of a $1.36 billion senior debt facility

S&P downgrades Vedanta Resources to 'CC' on potential bond extensions

The ratings remain on CreditWatch with negative implications, where they were first placed on September 29, 2023

India to create AI computing capacity for start-ups, researchers: Minister

Capacity will be created by the public sector and separately in collaboration with private companies, says Rajeev Chandrasekhar

Deal activity doubles in Nov to $6.5 bn as large transactions surge: Report

Deal activity more than doubled to USD 6.541 billion in November as compared to October on the back of a surge in high-value transactions, according to a report on Tuesday. In October, the total deal activity in India was pegged at USD 2.687 billion in value terms, consultancy firm Grant Thornton Bharat said in the report. In terms of the number of transactions, November saw a decline to 132 deals as against 167 in October, primarily because of a decline in private equity investments, the report said. German major Siemens AG's 18 per cent stake buy in local unit Siemens for USD 2.28 billion was the largest transaction in November, while AU Small Finance Bank's USD 529 million acquisition of Fincare Small Finance Bank was the second largest, it said. The overall merger and acquisition activity stood at USD 4.4 billion, making November the busiest one for such deals in 2023. "The remarkable surge in M&A deal values to the USD 4-billion mark set a record for 2023, which is heartening

Apple supplier in India working on setting up worker dormitories: Report

Foxconn's AirPods facility at Kongara Kalan near Hyderabad's airport is expected to include a dormitory for its workers

Apple releases iOS 17.2 with spatial video recording for iPhone 15 Pro, Max

The iOS 17.2 update has started rolling out for iPhone 15 models and will be available to all eligible iPhones in the coming days

Corning to set up Rs 1,000 crore Gorilla Glass facility in Tamil Nadu

Corning has picked Tamil Nadu over Telangana due to its proximity to other Apple suppliers like Foxconn and Pegatron

Tata Power ties up with Indian Oil to set up over 500 EV charging stations

IOCL said it is aiming to provide 10,000 EV charging stations in India by 2024 transforming the retail network to complete energy solutions outlets

Toys 'R' Us to start manufacturing in India by mid next year: Report

Business Standard on Monday reported that the company expects India to be among its top five in the next four to five years

Wipro chief growth officer Stephanie Trautman steps down amid restructuring

Under the leadership of CEO and MD Thierry Delaporte, Wipro started the CGO to create a focussed unit to chase large deals

Vedanta Resources to raise $1.25 bn through foreign investors at high rates

While foreign debt typically carries interest rates ranging from 10-12%, Vedanta's loans have been offered at 18% interest rate for three years, beginning in January

SpiceJet board considering raising fresh capital by issuing equity shares

Budget airline tells BSE about its plan; told court earlier it's 'struggling to stay afloat'

DRL partners with Coya Therapeutics to develop nerve disorder therapy

Amyotrophic Lateral Sclerosis (ALS) is a fatal neurological disorder characterised by progressive degeneration of nerve cells in the spinal cord and brain

Govt to sell 8% stake in IRCON International through offer-for-sale

The plan is to offload 37.6 million equity shares, of face value of Rs 2 each-representing 4 per cent of the company for non-retail investors on Thursday

Vedanta's Hindustan Zinc to give interim dividend worth Rs 2,535 crore

Earlier in July, Hindustan Zinc had announced its first interim dividend of Rs 7 per share

L&T Finance announces completing merger of 3 subsidiaries with itself

Merger will create "sustainable value" for stakeholders and help governance, says NBFC

Beauty-personal care split: HUL sets sights on customer of tomorrow

On Friday, the consumer major also announced that it had named Arun Neelakantan its chief digital officer effective January 1

Johnson Controls Apac president bullish on India's 'sustainable' demand

While the Paris Agreement has accelerated clients' sustainability agenda, Rathninde believes it is much more than that

Centre says over 120,000 new companies incorporated during Apr-Nov

More than 1.2 lakh new companies were incorporated in the country in the first nine months of the current financial year, higher than the registrations during the year-ago period, according to the latest official data. According to data from the corporate affairs ministry, which is implementing the companies law, 37,482 Limited Liability Partnerships (LLPs) were incorporated during April-November in 2023-24. "1,22,317 Companies got incorporated from 1st Apr to 30th Nov 23 as against 1,15,233 incorporations last year for the same period. "37,482 LLP got incorporated from 1st Apr to 30th Nov 23 as against 23,531 Incorporations last year for the same period. @FinMinIndia," the ministry said in a post on social media platform X.

Persistent Systems adds 4 execs to leadership team to fuel growth plans

Digital engineering services firm has a target of doubling annual revenue to $2 bn by 2026