Page 36 - Companies

Sebi levies Rs 55 lakh fine on 11 entities for non-genuine trades

Sebi has levied penalties totalling Rs 55 lakh on 11 entities for indulging in non-genuine trades in illiquid stock options segment on the BSE. In 11 separate orders, the regulator slapped a fine of Rs 5 lakh each on Kamala Agarwal, Kamla Devi Bajoria, Kamla Jain, Kamaljeet Kour, Kamal Ramprasad Gupta, Kamal Kumar, Kamlesh Ahuja, Kailash Narottamdas Anam, Sanjay Kumar Daga HUF Pragma Suppliers Pvt Ltd and Aromatic Tie Up Pvt Ltd. The orders came after the regulator observed large-scale reversal trades in the illiquid stock options segment on the BSE, leading to artificial volumes on the exchange. Sebi conducted an investigation into the trading activities of certain entities engaged in the segment from April 2014 to September 2015. The entities to be fined were among those who indulged in reversal trades, Sebi said in the 11 separate orders on Thursday. Reversal trades are non-genuine as they are executed in the normal course of trading, leading to a false or misleading appearance

Freshers face challenge to get jobs due to those who graduated last year

Freshers are facing a 'fresher glut' created by a spike in the talent pool of young professionals with experience of one to two years

Apple outpaces Samsung to become largest smartphone exporter from India

Apple has already grabbed the tag of the largest smartphone exporter from India by value due to its premium and super premium segment

Sebi removes penalties on cos unable to meet mandatory bond mkt borrowing

The regulator said it would grant more flexibility to large companies for incremental borrowing via bonds

Vedanta board approve raising Rs 2,500 crore in non-convertible debentures

These would be raised in the form of secured, unrated, unlisted, redeemable NCDs in one or more tranches, the company said

Ipca Laboratories acquires 19.29% stake in Unichem through open offer

Ipca shares ended the day's trade at Rs 898 apiece, down 1.6 per cent on BSE

Instacart founder Apoorva Mehta exits with $1.1 bn fortune after IPO

The transition marks the end of Mehta's 11-year tenure with the company he co-founded in 2012

Labour dispute halts production at Apollo Tyres Limda plant in Gujarat

Apollo Tyres also revealed that there is no material impact on the operations at this stage

Infosys, NVIDIA to collaborate for generative AI applications, solutions

As part of the partnership, Infosys will have access to NVIDIA's full-stack gen AI program and will set up a NVIDIA Centre of Excellence

What to expect from Amazon's special launch event? Check key details below

Amazon is expected to unveil some of its latest products and software updates. The event will take place today at Amazon HQ2 in Arlington, Virginia

Micron set to break ground for Sanand semiconductor plant on Saturday

A few months ago, Micron acquired 10 acres of land, a building and a factory from a troubled auto components maker

How can you spot greenwashing in advertisements, product packaging?

Broadly speaking, it's when companies questionably claim environmental bona fides to attract more business or draw less scrutiny

Srinivasan K Swamy elected as chairman of Audit Bureau of Circulations

Srinivasan K Swamy, executive chairman of R K Swamy Hansa Group, currently serves as the chairman of the Asian Federation of Advertising Associations

SpiceJet clears $1.5 million payment due to Credit Suisse after SC warning

On September 12, the apex court asked Singh to pay $500,000 towards an instalment to the Swiss firm along with a $1 million defaulted amount

Yatra Online mobilises Rs 348 cr from anchor investors ahead of IPO

Online travel company Yatra Online on Thursday said it has mobilised Rs 348.75 crore from anchor investors ahead of its Rs 775-crore initial public offering (IPO). The company has allocated 2.49 crore equity shares to 33 entities at Rs 142 apiece, according to a circular uploaded on the BSE website. ICICI Prudential Mutual Fund (MF), Mirae Asset MF, Tata MF, Bandhan MF, Max Life Insurance, Bajaj Allianz Life Insurance, Massachusetts Institute of Technology, Morgan Stanley Asia (Singapore) Pte, Goldman Sachs (Singapore) Pte, Bofa Securities Europe SA, Societe Generale, BNP Paribas Arbitrage and Quantum State Investment Fund are among the anchor investors. The company has fixed a price band of Rs 135-142 per share for its maiden public issue, which will open for public subscription on September 15-20. At the upper end of the price band, the IPO will fetch up to Rs 775 crore. The IPO comprises fresh issuance of equity shares worth Rs 602 crore and an Offer for Sale (OFS) of up to ...

G20 Sustainable Finance Working Group aims to mobilise sustainable finance

To ensure global growth and stability, the G20 Sustainable Finance Working Group (SFWG) has proposed to mobilise sustainable finance to promote the transition towards greener, more resilient and inclusive societies and economies. The main purpose of the Group, which concluded its fourth and last meeting under India's G20 presidency on Thursday, is to advance international work to help scale up private and public sustainable finance and in doing so, accelerate the implementation of the Paris Agreement and 2030 Agenda for Sustainable Development. The G20 Sustainable Finance Roadmap, as finalized in 2021, is the core around which the SFWG functions and takes up future work, the finance ministry said in a statement after conclusion of 2-day meeting in Varanasi. Towards this end, the SFWG in 2023 carried out work for enabling finance for SDGs along with the mobilisation of timely and adequate resources for climate finance as agenda priorities, it said. The SFWG during India's G20 ...

MasterCard appoints former SBI chief Rajnish Kumar as chairman

Veteran banker will have non-executive advisory role and guide Mastercard's South Asia executive leadership team

FSSAI introduces Hindi version of FoSCoS portal to enhance user experience

The Food Safety and Standards Authority of India (FSSAI) has taken a significant leap towards enhancing user experience

Strides Pharma arm gets USFDA tentative nod for generic HIV treatment drug

Strides Pharma Science Ltd on Thursday said its wholly-owned subsidiary Strides Pharma Global Pte Ltd, Singapore, has received tentative approval from the US health regulator for generic Dolutegravir tablets used in the treatment of HIV. The approval granted by the US Food & Drug Administration (USFDA) is for Dolutegravir tablets of strength 50mg, Strides said in a statement. The Abbreviated New Drug Application (ANDA) is tentatively approved under USFDA's expedited review provision for the President's Emergency Plan for AIDS Relief, thereby qualifying the company to participate in global donor-funded programmes that procure this lifesaving medicine, it said. The medicine is supplied in 126 countries, it added. "As of full year 2022, donor procurement for Dolutegravir 50mg tablets is estimated at a value of USD 35 million. This product further strengthens the available offerings in HIV treatment from Strides," the company said. The approval adds to a list of products that Strides

Agilitas Sports to buy sports footwear manufacturer Mochiko Shoes

Agilitas Sports, co-founded by former Puma India & South East Asia MD Abhishek Ganguly, on Thursday announced it will acquire Mochiko Shoes for an undisclosed amount. Agilitas Sports is a sportswear and Athleisure solutions platform while Mochiko is the country's largest sports footwear manufacturer. Mochiko's clientele includes leading international brands such as Adidas, Puma, New Balance, Skechers, Reebok, Asics, Crocs, Decathlon, Clarks and US Polo and is their manufacturing partner. "Mochiko's manufacturing capabilities, operational excellence and strategic partnerships with leading global giants, positions us to address the government's clarion call to 'Make in India', and to cater to the rising aspirations of an economic superpower, with the largest youth population," Agilitas Sports CEO & Co-Founder Abhishek Ganguly said. Earlier this year, Ganguly left Puma India along with its executive director for sales and operations Atul Bajaj and CFO Amit Prabhu and they founded