Page 8 - Companies

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.

Zomato, Swiggy face CCI probe over allegations of favouring big chains

The CCI found that Zomato signed 'exclusivity contracts' for lower commissions, while Swiggy promised business growth to restaurants listing exclusively on its platform

SECI bars Reliance Power for three years over fake tender document

Submission of fake bank documents reason for debarment, says SECI

JK Lakshmi Cement reports loss of Rs 19.24 cr in Q2, revenue down 2.2%

JK Lakshmi Cement has reported a consolidated net loss of Rs 19.24 crore for the second quarter ended September 30, 2024 on account of drop in sales realisation. The company had posted a profit of Rs 95.87 crore in the July-September period a year ago, according to a regulatory filing from JK Lakshmi Cement Ltd (JKCL), a flagship company of JK Organization. Its revenue from operations was down 2.16 per cent at Rs 1,234.29 crore in the September quarter. It was at Rs 1,574.53 crore in the year-ago period. Total expenses of JKCL were at Rs 1,263.01 crore, down 1.27 per cent in the September quarter of FY25. JKCL's total income, which includes other income, was also down 2.17 per cent to Rs 1,242.67 crore. During the quarter, JKCL's sales volume declined 1.40 per cent to 18.66 lakh tonnes. "The profitability of the company for the quarter has been impacted due to a sharp drop in sales realisation in our primary markets," Chairperson & Managing Director Vinita Singhania said. The ..

India fastest growing market and will be the largest market for SAP: CEO

SAP operates in 130 countries, with India demonstrating the highest growth rate among its top ten markets

Biz fundamentals rekindling investor confidence in edtech: Eruditus CEO

The company has seen 40 per cent growth in university partnerships over the past four years and doubled its enterprise business in the last two years

Apple's China sales dip slightly amid competition, AI rollout faces delays

Apple's China sales dropped by nearly 1 per cent in the last quarter, highlighting continued challenges as local competitors gain ground and regulatory delays slow the launch of its AI features in the

After 10-minute deliveries, quick commerce firms test flash return services

Just last week, Blinkit rolled out 10-minute returns and exchanges for clothing and footwear in select cities, while Swiggy Instamart and Zepto are reportedly exploring similar features to keep up

Adani Enterprises Q2FY25 results: Profit zooms 664% to Rs 1,742 cr

Expenses grew by eight per cent to Rs 20,787.29 crore from a year ago, with finance costs dipping 32 per cent to Rs 909.83 crore from a year ago

Air India suspends 10 crew members amid protest over revised layover policy

Ahead of its scheduled merger with Vistara in November, Air India introduced a new layover policy for cabin crew requiring some to share rooms during layovers, effective December 1

JSW Energy outbids Adani Power for KSK Mahanadi with Rs 15,985 crore offer

JSW Energy leads KSK Mahanadi auction with a Rs 15,985 crore bid, outbidding Adani Power by Rs 100 crore; the two-day auction saw intense bidding among six major players