Page 43 - Companies

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

Hindalco, Texmaco to manufacture aluminium rail wagons and coaches

Hindalco will provide profiles, sheets and plates of its unique aluminium alloys, along with fabrication and welding expertise, and Texmaco will bring in technical expertise

Hero MotoCorp faces tax probe over links to vendor Salt Experiences

A spokesperson for Hero MotoCorp said the company would issue a statement on the matter soon. Salt could not be reached for comment

Tata-Lockheed Martin JV delivers 200th C-130J Super Hercules empennage

TLMAL empennages are included in C-130Js operated by seven nations, including India

Happiest Minds eyes 3-4 digital-led acquisitions in next few quarters

In terms of size, Happiest Minds is targeting companies in the range of $10-50 million of revenues

Eicher unit to provide electric trucks for Amazon India's delivery ops

Collaboration will introduce 1,000 zero-emission electric trucks for Amazon's delivery work in 5 years

Natco Pharma's net profit rises 31.2% to Rs 420.3 cr in June quarter

Natco Pharma Ltd on Wednesday reported a 31.2 per cent rise in consolidated net profit at Rs 420.3 crore in the first quarter ended June 30, 2023. The company had posted a consolidated net profit of Rs 320.4 crore in the same period last fiscal, Natco Pharma said in a regulatory filing. Consolidated revenue from operations during the quarter under review stood at Rs 1,140.5 crore as against Rs 884.6 crore in the year-ago period, it added. Total expenses were higher at Rs 660.2 crore as compared to Rs 533.1 crore a year ago. The major drivers of business during the June quarter were formulation exports, strong growth in domestic business of both pharma and agro, and steady sales from subsidiaries, the company said. Exports of formulations clocked Rs 884.2 crore in the April-June quarter from Rs 736.9 crore a year ago, while domestic formulations registered Rs 132.4 crore, up from Rs 88.5 crore last year, it added. The active pharmaceutical ingredients segment posted Rs 75.1 crore,

Bajaj Consumer Care Apr-June quarter net profit rises 36.37% to Rs 46.22 cr

Bajaj Consumer Care Ltd on Wednesday reported a 36.37 per cent rise in consolidated net profit to Rs 46.22 crore for the first quarter ended June 30. The company had posted a consolidated net profit of Rs 33.89 crore in the same quarter of the last fiscal, Bajaj Consumer Care Ltd (BCCL) said in a regulatory filing. Its consolidated revenue from operations during the quarter under review stood at Rs 265.68 crore against Rs 246.51 crore in the year-ago period, it added. The total expenses during the quarter were higher at Rs 224.93 crore compared to Rs 215.23 crore a year ago. The company said its flagship hair oil brand Almond Drops registered growth of 9 per cent, which was distributed across packs in Q1, while the coconut and amla portfolio continued to scale up as planned with an increase in market share. International business on a consolidated basis grew by 42 per cent year-on-year, the company added.

Gaming unicorn MPL lays off 350 employees, revisits office infra costs

The move comes at a time when the GST Council has recommended imposing a 28 per cent tax on full deposit value, with no distinction made between games of skill and chance