Page 65 - Companies

Westlife Foodworld makes its debut on the National Stock Exchange

Westlife was previously only permitted to trade, but it is now listed on both the NSE and the BSE

Lufthansa seeks deeper partnership with Air India, plans to expand flights

Lufthansa's CEO, Carsten Spohr speaks about the expansion plans of the airline and partnership with Air India that could make it the largest airline group connecting India and Europe

Paytm's loan disbursals more than doubled to Rs 9,618 crore in Apr and May

The total number of loans via Paytm was up 54% to 8.5 million during the period, as compared to 5.5 million last year

Bank of Baroda board approves raising Rs 5,000 crore by March 2024

The capital will be raised when the market is conducive, the bank said

No new Apple store in India till 2025, as company plans global retail push

The California-based tech giant doesn't have plans to open new Apple stores outside of Delhi or Mumbai, and even those will not be launched before 2025

360 One Asset Management raises Rs 2,130 cr for latest private credit fund

The fund will lend to financially solvent companies and will now take exposure to distressed situations. It has a lifespan of three years

Apple unlikely to apply for subsidies under PLI 2.0 scheme: Report

Apple will continue to focus on making iPhones in India and make Vietnam a hub to make MacBooks

Edtech major Byju's lenders scrap talks to restructure a $1.2 bn loan

Byju's has to make an interest payment on the loan by June 5

Bajaj Auto records 29% rise in total sales at 355,148 units for May

Bajaj Auto on Thursday reported 29 per cent rise in total sales at 3,55,148 units in May compared to the same month last year. The company had sold a total of 2,75,868 units in May 2022, Bajaj Auto said in a statement. Total two-wheeler sales stood at 3,07,696 units last month as against 2,49,499 units in the year-ago period, up 23 per cent. Domestic two-wheeler sales were higher at 1,94,811 units as compared to 96,102 units in May 2022, the company said. However, exports were down at 1,12,885 units last month from 1,53,397 units in May 2022, it added. Total commercial vehicle sales rose 80 per cent to 47,452 units last month as compared with 26,369 units in the same period a year ago.

Nearly 81% firms face shortage of skilled tech workers: EY and iMocha

Only 19 per cent reported having established skill taxonomy; 43 per cent have conducted skill benchmarking at the employee level

Combined brand value of Indian companies surpasses $100 bn: Interbrand

TCS tops the list, followed by Reliance Industries and Infosys

Vedanta-Foxconn chip venture application for India funding to be rejected

Nine months after Agarwal announced the chip partnership to build India's "own Silicon Valley," the project is yet to find a technology partner or license manufacturing-grade technology

Nearly half of FAME electric 2-wheeler sales based on false claims: Report

An investigation done by ARAI found several firms depending on imports for key parts such as electric motors, controllers, and onboard chargers

Gen Atlantic, Advent Int soon to acquire Everstone's Burger King stake

As of March 31, Burger King and its sub-brand BK Cafe together had a total of 391 restaurants in the country. BK Cafe is engaged in the business of serving coffee and beverages to its customers

Sebi may soon ease compliance norms for PE, VC funds in India: Report

The capital markets regulator had last week sent an email to 20 fund officials asking them to suggest ways to reduce the compliance burden

I-T dept says delayed SFT filing attracts penalty; check details here

The report also added that certain capital market players and foreign exchange dealers are also required to file the annual report

Hi-Tech Pipes's net profit grows 42% to Rs 16 crore in March 2023 quarter

Hi-Tech Pipes Ltd has posted a 42 per cent rise in its consolidated net profit to about Rs 16 crore in March 2023 quarter, backed by higher revenues. It had clocked a consolidated net profit of Rs 11.22 crore in the January-March quarter of 2021-22, the company said in a statement on Sunday. Its revenue from operations increased 18 per cent to Rs 701.85 crore from Rs 594.77 crore in the year-ago quarter. Its Chairman and Managing Director (CMD) Ajay Kumar Bansal said, "During this quarter, we have registered the highest-ever sales volume, revenue, PAT and EBIDTA. Net working capital days of the company have reduced substantially to 48 days". The company's greenfield facility of large diameter pipes at Makhiyav, Sanand in Gujarat is expected to start commercial production from the third quarter or Q3 of FY24, he said. In Q4 FY23, "the sales volumes increased by 26 per cent y-o-y to 1.07 lakh tonne (LT), and EBITDA rose by 13 per cent to Rs 33.75 crore," the company said. Uttar ...

Healthy growth, valuations point to more gains for Mahindra & Mahindra

Auto segment to drive growth on the back of improving demand, new launches

Zypp Electric to deploy 200K vehicles in its fleet, invest $ 300 mn

Startup electric mobility services provider Zypp Electric is targetting to deploy 2 lakh vehicles in its fleet in the next three years and will need up to USD 300 million to fund its expansion, according to company CEO and co-founder Akash Gupta. The company, which is planning to enter new cities like Mumbai, Pune and Hyderabad is targeting a revenue of Rs 500 crore this year, up from Rs 125 crore last year. "For us, the expansion is that today, we have 13,500 (vehicles in the fleet). How fast we can get to 2,00,000 is what we have to go for. We are doing those partnerships, we are building that tech, we are building that team of R&D and to do this in multiple markets," Gupta told PTI. When asked for the timeline for reaching a fleet size of 2 lakh, he said it would be in three years. Zypp, which serves e-commerce and food/grocery delivery players like Swiggy, Zomato, Amazon, Myntra, Delhivery and PharmEasy, among others, is currently present in Delhi-NCR and Bengaluru. "We are ..

Corporate family feuds and the critical role of independent directors

IDs can play a vital role during family disputes by promoting corporate governance, ethical conduct, ensuring strict compliance and controls, and resolving conflicts fairly and equitably