Page 85 - Companies

Distressed funds including Oaktree Capital scoop up Adani Group bonds

Adani Enterprises Ltd., the flagship company, finished up nearly 15% on Tuesday, leading gains as other related stocks also rose

Adani Ports considering to repay $605 mn of loans to calm investors

India's largest private sector ports operator, which reported an earnings miss in the latest quarterly earnings, also said it would roughly halve its capital expenditure next financial year

Over 75% Indian workplaces lack basic facilities for PwD: Randstad survey

The findings of a report released by Randstad India reveal that there is a gap between the policies for PwD and their implementation

Weak tea biz a drag on domestic sales performance of Tata Consumer Products

International margins fall sharply on cost inflation, price lag in December quarter

Adani Ports eyes Rs 15,000 cr Ebitda in FY23, will prepay Rs 5,000 cr debt

Prepayment to significantly improve net debt-to-Ebitda ratio, bring it closer to 2.5x by March, says company

Century Ply profit slips by 16% y-o-y to Rs 81 cr in Dec quarter

India's leading plywood maker Century Plyboards (India) Ltd on Tuesday reported a standalone net profit of Rs 81.36 crore in the third quarter ended December 2022, a 16 per cent decline compared to a net profit of Rs 97.27 crore a year ago. the company reported a 3 per cent growth in revenue to Rs 877 crore for the quarter under review, compared to Rs 848 crore in the corresponding quarter of FY'22. Century Ply also inaugurated its extended capacity at Hoshiarpur MDF (medium density fibre) plant, the company said in a statement. As part of its investment plan over FY23-FY25, the company is investing about Rs 250 crores in Hoshiarpur. With this, the production capacity has been enhanced by 58.33 per cent, the company said. "The Q3FY23 ended with quarterly revenue of Rs 877 crore on standalone basis, a de-growth of just 2.6 per cent on QoQ basis despite being a seasonally weak quarter," Century Plyboards India chairman Sajjan Bhajanka said. The upcoming greenfield MDF project in And

3,552 foreign companies, subsidiaries closed in India between 2017-2022

A total of 3,552 foreign companies and subsidiaries of foreign companies have been closed in India between 2017 and 2022.

PC sales set to slow down in India as hardware firms announce layoffs

Sale boom during pandemic waning as consumers delay purchase due to fear of recession: Report

Battered by plunging PC sales, Dell to cut nearly 6,650 jobs globally

The company is experiencing market conditions that "continue to erode with an uncertain future," Co-Chief Operating Officer Jeff Clarke wrote in a memo

Adani prepays loans worth $1.11 bn, releases pledged shares in 3 firms

Move follows Hindenburg Research accusing Adani Group of improper use of offshore tax havens and stock manipulation

Govt says 128,000 cos struck off from records for non-compliance

In a written reply to the Lok Sabha, he also said the term 'shell company' is not defined under the Companies Act, 2013

SJVN net profit rises 22% to Rs 287.42 crore in December quarter

State-owned power producer SJVN on Monday posted a 22 per cent rise in consolidated net profit at Rs 287.42 crore in the December quarter, mainly due to higher revenues. The consolidated net profit of the company was at Rs 235.46 crore in the quarter ended on December 31, 2021, according to a BSE filing. Total income of the company rose to Rs 711.24 crore in the third quarter of the current fiscal from Rs 610.45 crore in the same period a year ago. SJVN's board has approved an interim dividend of Rs 1.15 per equity share for 2022-23. The record date for the same is fixed on February 17. In a statement, the company said it has recorded a Profit After Tax (PAT) of Rs 1,349.48 crore for April-December 2022 period, which is 37.98 per cent higher compared to the year-ago period. SJVN CMD Nand Lal Sharma said that for the third quarter standalone PAT increased 25.06 per cent to Rs 290.98 crore compared to Rs 232.67 crore posted in the same period a year ago. "These positive growth ...

Vedanta appoints industry veteran David Reed as semiconductor business CEO

Anil Agarwal-led Vedanta Ltd on Monday named industry veteran David Reed to head its semiconductor unit where it is looking to invest USD 20 billion to manufacture chips essential for mobile phones to laptops and TV sets. In an interview with PTI, Agarwal said the group is looking to start manufacturing semiconductors at Dholera in Gujarat in 2-3 years. "We will start with USD 5 billion investment and scale it up as years go by," he said. The semiconductors will be manufactured in joint venture with Taiwanese electronics company Foxconn. Vedanta holds a 63 per cent interest and the remaining is with Foxconn in the joint venture. The company plans to initially produce 40,000 wafers a month. Before joining Vedanta, Reed was with NXP Semiconductors, where he was Executive Vice President and General Manager of global operations. He moved to NXP as part of the merger with Freescale Semiconductor, where he had served as Senior Vice President for manufacturing operations. Previously, Da

BYJU's to miss group level profitability deadline, results delayed again

BYJU's will not be able to meet its March 2023 deadline to achieve group-level profitability, as it envisioned in its earnings in October last year, reliable sources said on Monday

BNPL platform Simpl introduces menstrual, adoption and pet care leaves

Simpl's leave policy states that the adoption leave is also applicable to LGBTQIA couples

Infosys fires 600 freshers after they fail internal assessment: Report

This comes at a time when hundreds of freshers are waiting for their joining dates at Infosys even though they received the offer letter months ago

Billionaire Gautam Adani's bonds are a soft target with hard assets

To know whether Adani is more likely to float than sink, bondholders are turning to rating companies, advisers and lawyers

Gautam Adani's crisis points to the big risk in India's net zero plan

Led by Adani's $70 billion pledged investment in green energy infrastructure, India's tycoons have so far committed to spend far more than the government on the energy transition

SoftBank CEO Masayoshi to skip earnings call for first time as tech slumps

The founder and chief executive of the world's largest tech investor bade farewell in November to the earnings presentations he's led for decades

US FTC is preparing potential antitrust lawsuit against Amazon.com

The allegations the agency is preparing to make and the timeline for filing a complaint are still in flux, said the people, who asked not to be named speaking about a confidential probe