Page 2 - Company News

US drug regulator issues import alert for drugs made at a Dabur India plant

The action was taken after the FDA inspected the factory and flagged data integrity and maintenance lapses

Goldman Sachs, MFs buy 4% stake in GNG Electronics for ₹175 crore

: Goldman Sachs, MCP Emerging Markets and other financial institutions on Thursday picked up more than 44 lakh shares, representing nearly a 4 per cent equity stake, of GNG Electronics, the parent company of Electronics Bazaar, for a total of Rs 175 crore through open market transactions. GNG Electronics promoter Vidhi S Khandelwal pared around 4 per cent stake in the company on Thursday, according to an exchange filing. Shares of the company jumped more than 6 per cent to close at Rs 418.60 apiece on the NSE. Domestic institutional investors such as Mirae Asset Mutual Fund (MF), ITI MF, Edelweiss MF, Trust MF, and Motilal Oswal Equity Opportunities Fund Series II also bought shares of GNG Electronics. These entities collectively purchased 44,87,203 shares representing a 3.94 per cent stake in Mumbai-based GNG Electronics, according to the block deal data available on the National Stock Exchange (NSE). The shares were picked up at an average price of Rs 390 apiece, taking the comb

Craft chocolate startup Manam raises $9 mn to expand retail footprint

The Hyderabad-based company, which works with more than 250 cacao farmers in Andhra Pradesh, plans to open new stores in the Delhi-NCR region

NCLT admits SBI's personal insolvency plea against Anil Ambani

A division bench comprising Judicial Member Sushil Mahadeorao Kochey and Technical Member Prabhat Kumar admitted the application through an oral order

Zee Entertainment plans ₹2,300 crore fundraise to back expansion plans

The company, which did not disclose a medium for the raise, said the board will deliberate further on options for raising funds

Fidelity pares Meesho stake, raises ₹988 crore through share sale

American financial services company Fidelity Investments on Wednesday divested a 1.3 per cent stake in e-commerce firm Meesho for Rs 988 crore through open market transactions. Fidelity Investments, through its two affiliates, FID FDI 2117 LLC and FID FDI 312 LLC, offloaded a total of 5,98,16,300 shares representing a 1.31 per cent stake in the Bengaluru-based e-commerce firm, according to the bulk deal data available on the National Stock Exchange (NSE). The shares were sold in the price range of Rs 165.18-165.21 apiece, taking the combined transaction value to Rs 988.15 crore. At the end of the March quarter, FID FDI 312 LLC owned a 1.13 per cent stake in Meesho, as per shareholding data available on the BSE. Details of the buyers of Meesho's shares could not be ascertained on the exchange. Shares of Meesho fell marginally to close at Rs 166.16 apiece on the NSE. Last month, Meesho said its consolidated net loss narrowed to Rs 166.34 crore for the fourth quarter ended March 31.

Anthropic unveils Claude Fable 5, limits access to advanced Mythos model

The AI firm says Fable 5 sets a new benchmark across tasks, while access to Mythos 5 remains limited due to concerns over its advanced cybersecurity capabilities

Airtel rebrands Priority Postpaid as Fast Lane amid neutrality row

Bharti Airtel has rebranded its Priority Postpaid service, which triggered net neutrality debate, as Fast Lane service, extending the promise of faster connectivity to postpaid users, the company said on Wednesday. The company has made changes on the website, and signals on mobile phones are also displaying the "Fast lane" name now. When asked if the company has shelved the Priority Postpaid plan, the company spokesperson denied the development but acknowledged the rebranding of the service as Fast Lane. "There is no question of withdrawal of our new post-paid plan... Our launch campaign has ended. And our descriptor to signal what we are doing 'Fast Lane' - captures the essence of what we offer. Our postpaid users continue to remain on a slice. So, every user who chooses our postpaid plan and has a 5G-capable device gets an enhanced experience. Faster speeds, unlimited data, and exceptional service," the spokesperson said. The spokesperson said that network slicing used for ...

Sebi mistook Valcambi's Editda as revenue; all records submitted: REL

Gold jewellery maker and exporter Rajesh Exports Ltd, currently under the regulator Sebi's scanner, on Wednesday said that of the several thousand clarifications sought by the regulator over the past two-and-a-half years, only nine remain unresolved - with the alleged Rs 15.15 lakh crore revenue inflation query being one of them. "All the other eight questions are minor. Even this ninth question is absolutely minor. SEBI has found certain things suspicious and needs more documents," said Rajesh Mehta, founder and Chairman of the company, told PTI in an interview. Sebi, in an interim order, held that Rajesh Exports inflated its consolidated revenues by Rs 15.15 lakh crore over FY21FY25 by attributing outsized revenues to overseas subsidiaries - particularly Switzerland-based Valcambi SA - despite the subsidiary's audited standalone financials showing only a fraction of those figures. The regulator flagged what it called a prima facie misrepresentation of the company's financial ...

Google helps secure $35 billion funding for Anthropic data centres

Anthropic, the creator of Claude, is leasing powerful computer chips at five data centers with help from the long-established tech

The CA who went home and built a Rs 1,176 cr rural e-commerce startup

Prasanna Kumar walked away from the corporate life to solve the supply chain problem he saw as a child and built VilCart - an e-com startup for 100,000 kirana stores across rural South India

Rajesh Exports says will cooperate with audit, won't challenge Sebi's order

Bengaluru-based gold jewellery firm Rajesh Exports Ltd, which is under regulator Sebi's scanner over suspected revenue inflation of up to Rs 15.15 lakh crore for the 2020-21 to 2024-25 period, on Wednesday said it will fully cooperate with the fresh forensic audit ordered by the market watchdog and not challenge the interim order. In an interview with PTI, company founder and chairman Rajesh Mehta denied allegations that Rajesh Exports Ltd (REL) had impeded the audit process and said the company had been forthcoming with investigators throughout. "I would never agree to the fact that certain relevant documents have not been submitted by us. We have submitted everything we were asked for. Sebi has not found something; maybe we have missed out on something. All that will be reconciled now," Mehta said. Sebi, in an interim order, has held that gold refiner and jewellery manufacturer REL allegedly inflated its consolidated revenues by Rs 15.15 lakh crore over five years by attributing .

Tata Starbucks could expand to 8,000 stores in India: Chandrasekaran

Tata Consumer Products Chairman N Chandrasekaran on Wednesday said the company sees significant long-term growth potential for Tata Starbucks in India and believes the coffee chain could eventually scale up to around 8,000 stores in the country. Terming the Starbucks QSR chain business as "a very high-potential business", Chandrasekaran said it has become EBITDA positive in FY26. Discussions with the joint venture partner, Starbucks Corporation, indicate a substantial headroom for expansion in the Indian market, he said while addressing shareholders of the Tata group FMCG arm. "We have had discussions with our partner, and we think eventually the company can have 8,000 stores in India. We are continuing to add 50 to 100 stores," said Chandrasekaran, who is also Chairman of Tata Sons. Tata Starbucks, a 50:50 joint venture between Tata Consumer Products Ltd (TCPL) and US-based Starbucks Corporation, operates the QSR chain of Starbucks cafes in India. In its latest annual report, TCP

Unicorn to add 50 Apple stores, aims for ₹6,000 cr revenue in 3 years

Unicorn Infosolutions, iPhone maker Apple's biggest premium retail partner in India, plans to open 50 new stores and increase revenue in the range of Rs 5,500 crore to Rs 6,000 crore in the next three years, a top official of the company said. Unicorn Infosolutions, Director, Baljinder Paul Singh, said the company is bullish on the growth of Apple and demand for its product in India, which remains unabated by rising memory chip prices. "The growth of the base of our customers is strong, and the aspiration to buy Apple is strong. Since we are opening a lot of stores in tier 3-4 cities where people haven't got a chance to see a demo of an Apple product, there is a huge potential for all the residents in tier 3 and 4 cities," he said on the occasion of the opening of Unicorn's 100th store here. Unicorn opened its very first single-brand store in Ahmedabad in 2006 and thereafter it has been expanding its outlets across North and West India. " "Being the largest sales and service partn

Carlyle Group seeks bankers for India IPO of healthcare RCM platform

Details of the proposed share sale, including its size and valuation, have yet to be determined, the people said

JSW Infra wins Kolkata Port project to expand container handling capacity

The company has won a 30-year concession to develop container facilities at Netaji Subhas Dock, taking its planned capacity at the Kolkata Dock System to 1.4 million TEUs

HC rejects Lilavati Trust's restraint plea against HDFC Bank, imposes costs

The Bombay High Court on Tuesday dismissed an interim plea filed by the medical trust that runs Lilavati Hospital here, seeking to restrain the HDFC Bank, its Managing Director and CEO Sashidhar Jagdishan and others from making any defamatory remarks against the trust and its members. The Lilavati Kirtilal Mehta Medical Trust had filed the interim application in a defamation suit seeking Rs 1,000 crore damages from the bank, alleging that it and its senior executives had allegedly released statements to the media and also on its social media platforms that were defamatory and harmed the reputation of the trust. A bench of Justice Somasekhar Sundaresan, while dismissing the application, however, noted that the statements were not defamatory and were in fact factually accurate. The court also imposed a cost of Rs 5 lakh on the trust, which would have to be paid to the HDFC Bank, while noting that the application was just another plea in the long chain of proceedings initiated by the .

Honda's board backs CEO Mibe despite push by old guard to oust him

They blamed Mibe for neglecting China, the world's biggest auto market, and making a "failed" bet on electric vehicles that would leave Honda with its first annual loss in seven decades

Vertex Group to invest ₹300 crore in smart co-working centres over 3 years

Group launches full-stack smart co-working platform and plans to add 30-35 centres across 10 cities, targeting 50,000 seats nationwide

Flipkart joins Meta affiliate programme to expand creator-led shopping

The partnership will allow creators to tag products from Flipkart and Myntra on Meta platforms, helping shoppers move seamlessly from discovery to purchase