Page 89 - Companies

Bikaji Foods posts PAT of Rs 33.05 cr, total income increases 15.8% y-o-y

The company has also reappointed Sachin Kumar Bhartiya as a Non-Executive and Non-Independent Director

Dow Inc is planning to cut about 2,000 jobs, almost 5% of its workforce

Materials science company Dow is cutting about 2,000 jobs, or approximately 5 per cent of its global workforce, as part of an effort to reach USD 1 billion in cost savings this year. The Midland, Michigan-based company currently employs approximately 37,800 people. Dow Inc. will take a charge of USD 550 million to USD 725 million in the first quarter. This mostly includes severance and related benefit costs; costs related to exit and disposal activities and asset write-downs and write-offs. Dow did not provide specifics but said it would evaluate assets with a focus on Europe. The company also reported a fourth-quarter profit of USD 613 million, or 85 cents per share. Its adjusted profit was 46 cents per share, below the 57 cents per share that analysts surveyed by Zacks Investment Research were calling for. Revenue totalled USD 11.86 billion, missing Wall Street's estimate of USD 12.03 billion. In the fourth quarter, Team Dow continued to proactively navigate slowing global grow

Continue FAME subsidy till EV penetration touches 10%: Greaves Electric CEO

The govt subsidy for the purchase of EV to the vehicle makers should continue till the market reaches an EV penetration of 8-10 per cent, said a top official of Greaves Electric Mobility Private Ltd.

Easy Trip Planners Ltd to acquire 55% stake in Glegoo Innovations

Online travel service provider, Easy Trip Planners Ltd on Wednesday said it will acquire a 55 per cent stake in Glegoo Innovations Pvt Ltd, an online travel and tours firm, for Rs 3 crore. The company signed a share purchase agreement with Glegoo Innovations Pvt Ltd on January 24, 2023, Easy Trip Planners, which operates under the brand EaseMyTrip, said in a regulatory filing. The board of the company has considered and approved the acquisition, it added. Glegoo will add a new revenue vertical for the company and enable it to scale up its business for online tours and travel related services, it added. Registered with the Registrar of Companies Vijayawada, Glegoo is in the online travel and tours related services, the company said.

Indian SaaS firms to have 8% of world market, get $35 bn in revenue: Study

Most Indian investors expect to increase, maintain capital allocation to sector

Maruti Suzuki begins probe into alleged purchasing dept wrongdoings

Investigation follows whistleblower complaint that executives took money from suppliers

Property data start-up Landeed raises $8.3mn in seed round funding

Company says it will use financing to build property title search engine, improving technology

Maruti Suzuki probing allegations of malpractices by executives: Report

The company has taken possession of the laptops and phones of the executives under the lens

Tata Motors reducing discounts on trucks to improve margins: Report

Tata Motors sells over 50 per cent of all the medium and heavy trucks in the country yet its margins have remained thin

Google CEO Sundar Pichai tells staff job cuts avoided 'much worse' issues

Google has said it would eliminate about 12,000 jobs, becoming the latest tech giant to retrench after years of abundant growth and hiring

Vistara reports first ever quarterly profit in Q3, figure undisclosed

Airline says result excluded unrealised forex loss; YoY capacity and passenger traffic up 37% and 47% respectively

Company formation, conversion made easier and swifter on new MCA portal

The corporate affairs ministry has made more than 46 forms available on the latest version-3 of its portal on Monday, for easier and faster filing

Amazon launches dedicated air cargo service in India to speed up deliveries

This is set to enable faster deliveries to customers

Hero Electric looks to raise nearly Rs 2,000 crore to drive expansion

The company is not looking for mergers and acquisitions, but is open to having a strategic investor who can bring some technical expertise

SoftBank-backed InMobi lays off 50-70 staffers, cites performance as reason

Poor performance prompted the company to take this extreme step

EaseMyTrip to establish offline retail stores through franchise model

Products and services that will be offered under the EaseMyTrip Franchise will include flight booking, group fares, hotels, holidays, IRCTC (rail booking), cabs, buses, cruises, charters, and visas

Railways looks to get up to Rs 2 trillion from freight operations in FY24

National transporter confident of meeting FY23 revenue target

Global demand concerns likely to weigh on energy markets, says RIL

RIL's oil-to-chemicals (O2C) business, was mixed in terms of performance, reporting 10 per cent Y-o-Y growth in revenue in Q3, though there was a decline of 9.4 per cent sequentially

AEL's strongest growth is ahead of us, says Gautam Adani on FPO

The FPO is targeted to create wealth for the retail shareholders, says Gautam Adani

Auto parts firm Stanadyne to invest Rs 200 crore for second plant

Stanadyne's only plant in India is in Chennai and that employs about 700 people