Page 99 - Companies

Logistics services platform Delhivery now live on government's ONDC

Logistics services provider Delhivery on Thursday said its network is now live on the government's Open Network for Digital Commerce (ONDC) platform

Bucking the trend, IT companies in India to increase hiring in 2023: Survey

India is going to be an overall employment gainer in 2023 due to a stable geographical, economic and political foundation: Randstad

Satellite imaging start-up GalaxEye Space gets $3.5 mn seed funding

Company says its technology helps in all-weather imaging without atmospheric interference

Infosys@40: From an idea in a one-bedroom apartment to a $71.41 bn company

The IT services company which was established four decades ago is focusing on cutting-edge innovations in areas such as cybersecurity, cloud computing and data analytics

Twitter must tell fired workers about severance lawsuit, says US judge

Filed by a handful of workers, the suit alleges Twitter failed to give the required 60 to 90 days notice about the mass layoffs and is shortchanging the former employees on severance pay

Twitter suspends accounts tracking Elon Musk's jet and the man behind it

Musk said in a tweet that legal action was being taken against Sweeney and the "organizations who supported harm to my family"

AstraZeneca Pharma India's MD resigns; appoints Sanjeev Panchal for 3 years

AstraZeneca Pharma India on Wednesday said Gagandeep Singh Bedi has resigned from the post of managing director. The drug firm said it has approved the appointment of Sanjeev Panchal as its managing director for a period of three years with effect from January 1, 2023. Panchal had joined AstraZeneca Pharma in February 2003 as Brand Associate and progressed through several positions in India, Indonesia, Asia Pacific and the international region, based in Singapore and the United Kingdom (UK), it said.

Braithwaite aims Rs 1,000 cr topline in FY23, wagon dependence down to 50%

State-run Braithwaite & Co Ltd on Wednesday said it has reduced its dependence for revenue on wagons to 50 per cent in the last two to three years as it diversified into new areas to turn around and propel growth. The company was projecting revenue growth of 30 per cent to Rs 1,000 crore in the current fiscal from Rs 764 crore in FY'22. The net worth of the company which was Rs 5.8 crore in 2017-18 will touch Rs 200 crore in the current fiscal, the official said. Our 98 per cent of revenue used to come from wagons in 2018-19 but we have reduced the dependence to 50 per cent by way of diversification into new areas to turn around from losses. We have entered into the services sector in a big way, like O&M, civil construction, container manufacturing, foundry, material handling and solar, Braithwaite & Co Ltd Chairman and Managing Director Yatish Kumar said at a special session with Merchants' Chamber of Commerce. The PSU under the administrative control of the Ministry of ..

GMR Hyderabad International Airport raises Rs 1,150 cr through NCDs

GMR Hyderabad International Airport Limited (GHIAL) which manages Rajiv Gandhi International Airport here on Wednesday said it has raised funds through the issuance of 10 year Listed, Rated, Redeemable, Secured Non-Convertible Debentures (NCDs) amounting to Rs 1,150 crore on private placement basis. A press release form the company said the NCDs which were raised on Tuesday will be listed on BSE Limited. The NCDs have been priced at an interest rate of 8.805 per cent per annum payable quarterly for an initial period of five years and thereafter the interest rate will be reset for next five years. The issue has been subscribed by eligible investors (Qualified Institutional Buyers, registered under SEBI). The proceeds from the NCDs will be utilised for partial refinancing of about USD 140 Million of the existing ( External Commercial Borrowings) ECB Bonds of 2024 and 2026, for which tendering has been completed, along with accrued interest and other issue expenses. Commenting on

UN aviation body rejects SpiceJet claim, says it didn't inspect airline

Budget carrier said on Dec 5 its safety processes were found in order 'following an exhaustive audit conducted by the ICAO'

Colgate Palmolive to focus on volume growth in India, says MD Narasimhan

According to the new MD, the naturals market, which witnessed strong growth from 2016 to 2019, has started to plateau

Amazon faces $280 mn lawsuit from Vietnamese supplier for post-Covid cuts

Gilimex Inc. said it was a key partner of Amazon from 2014 to 2022, investing tens of millions of dollars in manufacturing facilities to build the steel-and-cloth storage pods

FTX's Bankman-Fried charged with fraud; could face up to 115 yrs in prison

U.S. prosecutors charged Sam Bankman-Fried, the founder and former CEO of cryptocurrency exchange FTX, with a host of financial crimes and campaign finance violations on Tuesday, alleging he played a central role in the rapid collapse of FTX and hid its problems from the public and investors. The indictment says that, beginning in 2019, Bankman-Fried intentionally devised a scheme and artifice to defraud FTX's customers and investors, diverting their money to pay expenses and debts at his crypto hedge fund, Alameda Research, and to make lavish real estate purchases and large political donations. Bankman-Fried was arrested Monday by Bahamian authorities at the request of the U.S. government, which charged him with eight criminal violations, ranging from wire fraud to money laundering to conspiracy to commit fraud. He was also charged with making illegal campaign contributions, a notable charge as Bankman-Fried was one of the largest political donors this year. The indictment is on to

Meta faces new lawsuit, accused of amplifying hate speech in Africa

Meta Platforms is facing a lawsuit in Kenya's high court accusing the company of failing Africans by amplifying hate speech and incitement to violence on Facebook

Adani Transmission incorporates wholly-owned subsidiary Adani Cooling Sol

Adani Transmission on Tuesday said it has incorporated a wholly-owned subsidiary Adani Cooling Solutions Ltd. According to a regulatory filing, the subsidiary was incorporated on Monday with an initial authorised and paid up share capital of Rs 1,00,000 each, for the purpose of carrying on District Cooling System business. The entity will commence its business operations in due course, it added.

557,000 firms struck off due to non-compliance with law provisions

More than 5.57 lakh companies were struck off the records in the last five years due to non-compliance with various provisions of the companies law, according to the government. Minister of State for Corporate Affairs Rao Inderjit Singh on Tuesday said that 5,57,055 companies were struck off under Section 248 of the Companies Act, 2013 read with the Companies (Removal of Names of Companies from the Register of Companies) Rules, 2016 in the country in the last five years. They were struck off due to non-compliance with provisions of the Act, he said in a written reply to Rajya Sabha. He also said that the term 'shell company' is not defined under the Act. It normally refers to a company without active business operation or significant assets, which in some cases are used for illegal purpose such as tax evasion, money laundering, obscuring ownership and benami properties, he added. Further, the minister said the special task force set up by the government to look into the issue of

Abans Holdings IPO registers 28% subscription on second day of offer

The Initial Public Offer (IPO) of Abans Holdings, financial services arm of the Abans Group, was subscribed 28 per cent on the day two of offer on Tuesday. The IPO received bids for 35,27,260 shares against 1,28,00,000 shares on offer, as per NSE data. The portion for Qualified Institutional Buyers (QIBs) was fully subscribed, while the category for Retail Individual Investors (RIIs) received 23 per cent subscription and non-institutional investors 13 per cent. The IPO of up to 1.28 crore equity shares has a fresh issue of up to 38 lakh equity shares and an offer for sale of up to 90 lakh equity shares. The offer has a price range of Rs 256-270 a share. Proceeds from the fresh issue will be utilised towards investment in its NBFC subsidiary, Abans Finance, for financing the augmentation of its capital base to meet future capital requirements and for general corporate purposes. The company operates a diversified global financial services business, providing Non-Banking Financial .

Reliance Industries Ltd is India's most-visible company, says report

Reliance Industries Ltd, India's largest corporate by revenues, profits, and market value, topped the 2022 Wizikey Newsmakers report as India's most-visible corporate in the media. State Bank of India, ICICI Bank Limited, Bharti Airtel Limited, and One 97 Communications Limited, which owns Paytm, are the other firms in the top five rankings, Wizikey said in a statement. The rankings are based on Wizikey's News Score which measures news visibility for brands & individuals by analyzing the volume of news, headlines presence, and the reach of publications. Wizikey's AI and ML technology gathers media intelligence from over 50 million news articles across 400,000-plus online publications. The report considered over 1000 Indian corporates for analysis. For its No.1 position Reliance has a news score of 92.56 for 2022, becoming the first Indian company ever to cross the threshold of 90. Reliance improved its news score from 84.9 in 2021. Wizikey's news score is the world's first ...

Paytm's share buyback plan draws skepticism over growth prospects

While a buyback could help stem the rout in Paytm shares at least temporarily, investors are questioning the attempt to manage the stock price rather than putting the cash to use for business

Top Headlines: Ex-FTX CEO arrested, CPI inflation eases in Nov, and more

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