Page 42 - Companies

Ather Energy to make net profit in 24 months, plans to raise more funds

The company is raising funds to help set up a new factory and strengthen R&D

JSW Steel to boost long steel capacity to tap infrastructure boom

As the company increases production, raw material security is also on its radar

Cognizant splits global growth markets by appointing 2 internal leaders

Manoj Mehta and Jane Livesey will lead two units and report directly to CEO Ravi Kumar S

Planview eyes India's digital transformation may reach $85 bn by 2026

US-based firm would invest more than $125 million into headcount and centre operating expenses over the course of the next four years in India

Sebi extends auction date for properties of 7 companies to Aug 31

Sebi extends auction date to Aug 31 for properties of 7 companies

Inox Wind promoters infuse Rs 500 cr in company for repayment of debt

Wind energy solutions provider Inox Wind on Thursday said its promoter and promoter group entities have infused Rs 500 crore in the company for debt repayment. The funds were raised by way of equity share sale of Inox Wind by its promoter and promoter group entities through block deals on the stock exchanges, a regulatory filing said. The funds will be utilized for the repayment of IWL's existing debt, it added. "Inox Wind announced the infusion of Rs 500 crores (before taxes and other charges) by its promoter and promoter group entities," it said. This strategic move marks a significant milestone in Inox Wind's journey towards financial sustainability, it stressed. Kailash Tarachandani, the CEO of Inox Wind, said "the recent fundraising initiative led by IWL's promoters and the subsequent capital infusion significantly reinforces our financial strength and empowers us with enhanced flexibility for future growth endeavours." Inox Wind is a part of the USD five billion INOXGFL ...

Colliers India appoints Badal Yagnik as new CEO with immediate effect

Yagnik has earlier served at Cushman & Wakefield (C&W) as MD for leasing services in India. Before that, he was working with Jones Lang LaSalle

Foxconn spends more to accelerate global migration as China falters

What replaces Foxconn's former mega-factory strategy will have huge ramifications for multi-billion dollar industries, geopolitics, and the world's largest economies

SC hearing in Adani-Hindenburg saga: Sebi seeks 15 more days to file report

Markets regulator's application before Supreme Court says it has 'progressed substantially' in investigation

Foxconn's business in India hits $10 billion, to bet $2 billion more

The figure constitutes about 5 per cent of the global revenues of a company that is the world's largest EMS player

Disclosure norms in data law likely to create barriers for generative AI

Enterprise AI solution firms are reviewing the Bill while closely watching the discussions of the transition period

SK Hynix denies negotiation, collaboration with SRAM & MRAM for chip plant

South Korea-based SK Hynix on Monday said that the company neither had any negotiation with SRAM & MRAM Group, nor has any plans to collaborate with it for a semiconductor manufacturing or testing unit in India. UK-based SRAM & MRAM Group chairman Sailesh Lachu Hiranandani had told PTI that his company is in an advanced stage of discussion with semiconductor makers SK Hynix and GlobalFoundries to collaborate for its proposed chip manufacturing plant and a testing facility in India. Hiranandani had said that his group will hold a majority stake in the joint venture and the application to seek the Centre's approval for the project will be submitted within a week. However, SK Hynix denied any negotiation, collaboration with SRAM & MRAM Group. "SK Hynix haven't had any negotiations with SRAM & MRAM Group and therefore, do not have any plans to collaborate with the company on a chip manufacturing plant and testing facility in India," SK Hynix said in a statement. SK Hynix ..

Vikas Lifecare Q1 net profit jumps to Rs 13.31 cr on back of higher income

Recycling player Vikas Lifecare has posted a manifold jump in its standalone net profit at Rs 13.31 crore during the June quarter, on account of higher income. It had clocked a net profit of Rs 2.33 crore in April-June period of the preceding 2022-23 fiscal, the company said in a statement on Monday. The company's total income increased to Rs 106.30 crore in the quarter under review, from Rs 88.87 crore in the year-ago quarter. Expenses were at Rs 91.77 crore, as against Rs 86.71 crore a year ago. Last month, Vikas Lifecare announced its plans of foraying into manufacturing of smart meters in a 49:51 joint venture (JV) with Indraprastha Gas Limited (IGL). As part of the agreement, a manufacturing unit will be set at an initial investment of Rs 110 crore to manufacture smart meters. Vikas Lifecare recycles plastic waste to manufacture pallets and interlocking tiles for industrial applications.

LS Digital buys Social Panga in 3rd acquisition after Langoor, F1 Studioz

The new creative agency will be India's largest integrated marketing platform

Samsung to get Rs 600 crore under PLI scheme for smartphones: Report

Samsung had claimed incentives of about Rs 900 crore for generating revenues of about Rs 15,000 crore from smartphone sales in 2020-21

Leader as challenger: What does Maruti's EV onslaught mean for Tata Motors?

"We will have at least six models and will start from the premium end, maybe with a sports utility vehicle," says R C Bhargava, Chairman, Maruti Suzuki India

Deloitte, Adani Ports & SEZ spar over Hindenburg Research's claims

Had sought external examination of Hindenburg's allegations: Deloitte

HCLTech signs $2.1 billion managed network services deal with Verizon

HCLTech said it expects this deal to have a positive revenue impact over the next six years beginning in November 2023, with an estimated new total contract value of $2.1 billion over the term

PMI Electro aims to reduce costs by 30%, boost turnover to Rs 1,200 cr

To meet burgeoning demand targets, the company is banking on its Pune plant, which is set to commence operations by FY25

LIC profit up 14x at Rs 9,543 crore in Q1; premium income stayed flat

Investment income boosts profit; premium income stays flat; individual policies sold fall