Page 7 - Companies

India's alternative assets market to grow 5x to $2 trn by 2034: Report

Wealthy Indians offer 'significant growth potential' for such assets, it says

upGrad Achieves 30% YoY Revenue Growth; EBITDA & PAT Loss drops by 50%

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Lawsuit in US accuses food companies of marketing 'addictive' food to kids

Lawsuit was filed in Philadelphia Court by Bryce Martinez who alleges he developed type 2 diabetes and non-alcoholic fatty liver disease, diagnosed at age 16, by consuming the firms' products

Alpha Wave, two others eye 15% stake in Haldiram's at $9 bn valuation

Haldiram's founding promoters, the Agarwal family considering an IPO post-sale, aiming for a Rs 93,500 crore valuation

Pernod Ricard denies breaching Indian law, internal probe claims violation

PRI lobbied New Delhi officials in favour of a 2021 law that allowed private retailers to run liquor shops

Intel's hunt for CEO to focus on outsiders, including Marvell's head

This week's sudden ouster of CEO Pat Gelsinger set off an urgent search for new leadership at a time when the chipmaker's fortunes are shaky and its bench has been depleted

Adani Group firms' balance sheet improved in 2 years; debt rose: Bernstein

Debt burden primarily on Adani Enterprises; group's cash reserve has increased 75% since March 2023

RBI lifts supervisory restrictions on Sachin Bansal-led Navi Finserv

Following the imposition of restrictions on Navi, the lender cancelled a scheduled fund raising activity of Rs 100 crore. Rating agency CRISIL had also put Navi's ratings on "rating watch"

NCLAT limits insolvency proceedings against Raheja to one project only

In a relief to Raheja Developers, the appellate tribunal NCLAT has confined the insolvency proceedings against the realty firm to only one of its projects 'Raheja Shilas'. However, it has directed Raheja Developers to provide the details regarding the other incomplete projects and the status of all ongoing projects, enabling appropriate orders to be passed. A three-member bench of the National Company Law Appellate Tribunal (NCLAT) led by Chairperson Justice Ashok Bhushan, directed the Interim Resolution Professional (IRP) to collate the claims related to the project and submit the status report. "We are of the view that, for the time being, as was prayed by the Applicant/Respondent herein, the insolvency may convene to one Project, namely 'Raheja Shilas (Low Rise)," said NCLAT in its interim order passed on Thursday. The NCLAT direction came over a petition filed by Navin Raheja, Chairman & Managing Director of the suspended board of the realty firm challenging an order from ...

Sagar Adani's $35 billion green vision eclipsed by bribery allegations

The charges against Sagar stem from his role on the board of the Indian Energy Company, where he has served since October 2018

Airline exodus leaves Israelis and companies isolated amid Hamas war

Direct routes to dozens of major cities - Washington D.C., San Francisco, Toronto, Hong Kong, New Delhi - have been suspended, reducing face-to-face business meetings

Adani Green Energy offers dollar bond again after earlier deal postponed

Units of the group's clean-energy business, Adani Green Energy Ltd. are marketing a 20-year $600 million note at a yield of around 7.75 per cent, according to a person familiar with the matter

BlueGreen Ventures launches $75 mn maiden fund, expects final close in 2025

Venture Capital entity BlueGreen Ventures on Wednesday said it has launched a maiden USD 75 million, about Rs 633 crore, fund for investment in early-stage startups. The fund has been launched by operators-turned-investors Rajeev Suri and Anup Jain who were managing partners at Orios Venture Partners. "The USD 75 million fund was approved by SEBI about a month back. We expect to close the fund same time next year," Jain said. The new fund claims to be backed by Global CEOs and CXOs from Fortune 500 companies, along with successful startup founders from India, the firm said in a statement. "We are privileged to have the full support of the ecosystem as we approach our first close, set to be announced shortly. They have placed their trust in us, recognising our commitment, values and passion for partnering with founders to create success stories. "We are also deeply grateful for the extensive backing we have received from angels, government bodies, fellow VCs (venture capital firms)

Reliance Retail shuts down Centro locations to focus on in-house brands

Reliance Retail is temporarily closing its Centro stores to revamp the format, shifting focus to its own brands and shop-in-shop models, with several outlets set to close this month

Nykaa Q2 results: Net profit rises 67% to Rs 13 cr, revenue up 24%

Growth was bolstered by robust revenues across its beauty and fashion businesses

Gautam Adani hosts European leaders on tour to Khavda, Mundra projects

Industrialist Gautam Adani said that it was a privilege to host the leaders and shared insights from their discussion on sustainability and partnership

Coromandel Engineering appoints G V Manimaran as CMD for five years

Coromandel Engineering Company on Tuesday announced the appointment of G V Manimaran as the Chairman and Managing Director. His appointment is effective Tuesday for a period of five years. Manimaran has also been appointed as an additional Director (Executive), the company said in a regulatory filing. He joins the company with over four decades of experience across sectors like banking, finance, legal and marketing. He is the founder and Director of Sasvitha Home Finance Limited. In his previous roles, he has served as a director at Canara Bank. On Tuesday, the company's board signed a memorandum of understanding with Nico Allen Infrastructure Pvt Ltd and Bharath Medical College and Hospital to execute infra projects estimated at a value of Rs 450 crore. Besides, the company board appointed three independent directors. It has appointed former DGP of Tamil Nadu M Ravi as a non-executive independent director and Ennarasu Karunesan, former CEO of Adani ports - Mundra, Regional Dir

Physis Capital raises Rs 150 cr for Rs 400 cr fund, to invest in startups

Venture Capital firm Physis Capital has received commitment of Rs 150 crore for its around Rs 400 crore or USD 50 million venture fund, which it plans to invest in 12-15 startups, a senior official of the firm said on Tuesday. Physis Capital, General Partner, Vinay Bansal told PTI that the firm expects the final close of the fund by early 2026. "Our Rs 400 crore fund is split into four buckets comprising Rs 100 crore retail investors, Rs 100 crore family offices, Rs 100 crore from financial institutions and Rs 100 crore from the government. "We have closed Rs 100 crore from retail investors and half of the family offices bucket. We have received a total commitment of Rs 150 crore," Bansal said. Physis Capital was set-up by the founders of Inflection Point Ventures which has invested in companies like Bharat Pe, Blusmart, VideoVerse, Milkbasket, Samosa Party, Stage, and Otipy. "The final close of the fund is expected by early 2026. We will invest the fund in Indian start-ups. Physi

Zomato's 'Food Rescue' feature offers cancelled orders at discounted rate

To curb food wastage, Zomato's 'Food Rescue' initiative allows cancelled orders to appear on the app for customers located within 3 km of the delivery partner holding the order

Black Box Q2 result: Profit rises 60% to Rs 51 cr due to operating leverage

Essar Group's IT arm Black Box has reported a 60 per cent jump in consolidated net profit to Rs 51.14 crore for the July-September quarter, helped by operating leverage. It had reported a net profit of Rs 31.96 crore in the year-ago period, according to a regulatory filing. Its revenue for the quarter under review declined 4.89 per cent to Rs 1,497.2 crore from Rs 1,574.3 crore in Q2 FY24. The company's EBITDA (earnings before interest, taxes, depreciation, and amortization) for the quarter increased 34 per cent to Rs 135 crore, a statement said. "The company's commitment towards better performance achieved through operating leverage has led to growth in both EBITDA and PAT margins," it added. Seen sequentially, profit and revenue rose by 37.88 per cent and 5.19 per cent, respectively. Black Box Whole Time Director Sanjeev Verma said the company's cost optimisation efforts will yield consistent growth in operating performance and enhanced productivity, leading to better margins.