Page 6 - Companies

'Tax cuts to boost consumption', say top executives across sectors

The government's plan is estimated to help around 25-30 million personal tax payers save about 100,000 rupees annually, according to Kamal Bali, managing director of Volvo Group India

DeepSeek's AI restricted by 'hundreds' of companies amid concerns over leak

Chief among those worries is the fact that DeepSeek states in its own privacy terms that it collects and stores data in servers in China

Companies in India not using IBC enough to resolve insolvency: IBBI chief

IBBI data suggests that the share of CIRPs initiated by corporate debtors or companies is declining over time

Q3 results today: Adani Ports, L&T, BEL, GAIL to report Q3FY25 earnings

Over 100 companies, including Adani Group entities, L&T, and banking majors, are set to release Q3FY25 results on January 30, offering insights on growth momentum and market outlook

Quick commerce unicorn Zepto completes reverse flip from Singapore to India

Sharing the update, Zepto co-founder and chief executive officer, Aadit Palicha, said the company has received formal approval from Singaporean courts and the National Company Law Tribunal (NCLT)

Ares looks to boost private credit presence in record Indian market

The alternative asset manager has deployed $4.5 billion to Indian companies as of the end of September, roughly half the firm's investment in Asia over the past five years

Godrej Enterprises to invest over Rs 1,200 cr on digital solutions

Godrej Enterprises Group on Monday said it will invest over Rs 1,200 crore over the next three to five years in new digital solutions and technology platforms. The group, which comprises Godrej & Boyce and its affiliates, and has a presence across multiple industries spanning aerospace and aviation to defence, furniture and IT software, said the investments will include strategic digital platforms, AI, and generative AI technologies across business units. "With a consumer base of over 1.1 billion, we are committed to redefining how customers interact with us. Our vision is to create a customer-first ecosystem that offers a unified experience that helps foster deeper relationships with our stakeholders," Godrej Enterprises Group (GEG) Executive Director, Nyrika Holkar said. She further said, "With cutting-edge digital and AI tools, extensive skills training, and unwavering commitment to transformation, we want to shape the future of customer experience." To achieve a seamless ...

Zetwerk Manufacturing strengthens leadership team in preparation for IPO

The manufacturing firm has assembled a leadership team with extensive experience in electronics manufacturing to drive operations and innovation

IDBI Bank disinvestment progresses, due diligence begins, to end by H1FY26

The Union government and Life Insurance Corporation jointly hold a 95 per cent stake in IDBI Bank, of which they are selling 60.72 per cent

Mouth freshener brand JoySpoon's funding round reaches Rs 1.81 crore

Founded by husband-and-wife duo Vaishali Mehta and Yash Mehta, JoySpoon is tapping an industry expected to grow to Rs 27,491 crore by 2028

OMEGA unveils Speedmaster Moonphase Meteorite watch, honouring Apollo 11

Each dial features a unique meteorite pattern, with ribbon-like flecks formed over millions of years

Short-seller Hindenburg Research behind Adani Group selloffs disbanded

Hindenburg Research, a US investment research firm known for short-selling, and whose reports resulted in wiping out billions of dollars of Indian billionaire Gautam Adani and his companies, has been shut down, its founder Nate Anderson announced Wednesday. As I've shared with family, friends and our team since late last year, I have made the decision to disband Hindenburg Research. The plan has been to wind up after we finished the pipeline of ideas we were working on. And as of the last Ponzi cases we just completed and are sharing with regulators, that day is today, Anderson announced. In the last few years, Hindenburg Research had launched a campaign against the Adani group. Its reports published since 2023 had resulted in billions of dollars of loss for the Indian billionaire. All the charges were denied by Adani and his companies. The sudden and surprising announcement by Anderson comes within days of a Republican Congressman, a member of the House Judiciary Committee, asking

OPG Mobility to raise Rs 400 crore, gets into product portfolio expansion

Electric vehicle maker OPG Mobility, formerly Okaya EV, is seeking to raise around Rs 400 crore within the next 18-24 months to fuel its growth plans as it embarks on product portfolio and network expansion drive, according to its Managing Director Anshul Gupta. The company, which underwent a rebranding exercise recently, will house its two-wheeler division under the 'Ferrato' brand and plans to launch two new electric scooters and one electric motorcycle with two variants this year, Gupta told PTI. Besides, the three-wheeler division under 'OTTOPG' will see foray into electric passenger segment this year and the company is working to enhance its sales and service network expansion across India as it prepares to rope in investors to prepare for the long term, he added. "The idea will be to get a private equity, either strategic investor or non strategic investor, either of the two, and then build from there, and eventually, succeed in the long race," Gupta said when asked if OPG ..

LICO Materials aims to triple revenue to Rs 100 cr in FY26, says CEO

LICO Materials, a battery recycling and repurposing company, is looking to triple its revenue to over Rs 100 crore in FY26 on the back of growing EV and energy storage demand in India, its CEO Gaurav Dolwani said. "This year, we're expecting about Rs 30 crore...In a commodity upswing, doing the same business, we could probably cross Rs 100 crore," Dolwani said. The company was hoping for a better revenue in the current financial year but the decline in lithium, cobalt, and nickel prices has impacted the numbers, even though the company has hit its desired quantities. Last month, it inaugurated a battery recycling facility in Bengaluru, which has the capacity to process about 17,500 tonne of battery input per annum. LICO Materials, which plans to set up its own downstream chemical facility in two-three years is committing Rs 250 crore for the same. Asked how does the company plan to fund the unit, the CEO said it will be a mix of equity and debt. The company also plans to open anot

Religare AGM back on track after Madhya Pradesh High Court rejects PIL

The Madhya Pradesh High Court dismissed a PIL blocking Religare's AGM, vacating the stay on Rashmi Saluja's reappointment and allowing the Burman family's stake acquisition process to proceed

Microsoft confirms performance-based job cuts across key divisions

Microsoft's restructuring plans began in 2023 with 10,000 layoffs, followed by 1,900 more in its gaming unit after the $75.4 billion Activision Blizzard acquisition

Avendus seeks $466 million as it launches new India private credit fund

The 25 year-old Mumbai-based financial services firm aims to raise as much as Rs 4,000 crore ($466 million) through the fund, that will invest in the debt of mid-sized businesses in the country

Cybersecurity firm Rubrik expands in India with new Bengaluru office

Cybersecurity firm Rubrik on Wednesday announced its expansion plans in India with the opening of a new office space in Bengaluru. The new facility, which intends to replace the operations of the company's existing two offices in the city over a period of time, is expected to open by mid of 2025. "The new facility will combine product development, product management, customer support, and global recovery operations under one roof," a company statement said. Company co-founder and CEO Bipul Sinha also announced plans to hire talent from India for the expansion. "By investing in top engineering talent, we believe we will continue to create innovative solutions that enhance Rubrik's portfolio and support our global growth," he added. Sinha did not, however, provide a figure and timeline on the same. "India is in the midst of a massive digital transformation, and we believe there is a huge opportunity for Rubrik to help secure its digital future. There is a large pool of talent here.

Race to acquire Haldiram Snacks: Temasek secures term sheet, leads bid

Temasek has emerged as the leading contender to acquire a minority stake in Haldiram Snacks, after signing a term sheet with the promoters, with a valuation between $10 billion-$11 billion

Chose growth over profitability: Core Diagnostics' Zoya on acquisition

India has several venture-backed startups for whom the natural consequence is to have an exit, and between profitability and growth in the journey ahead, "we opted for the latter", Zoya Brar, founder of Core Diagnostics, which was recently acquired by Metropolis Healthcare, said. Metropolis Healthcare, one of India's leading diagnostics chains, acquired specialised diagnostics company Core Diagnostics for Rs 246.8 crore last month. "For an organisation to scale, it can either do it organically or inorganically. Since we have a number of venture-backed startups (in India), the natural consequence is, there needs to be an exit. And while IPOs are an option, they need a certain volume and scale before it makes sense. So we will continue to see consolidation," Brar told PTI. "Most importantly, incumbents like Metropolis need to constantly differentiate themselves to remain ahead of the competitive landscape and one simple way to do that is to acquire insurgents that have built an ...