Page 10 - Indian Companies

Indian companies file ECB plans worth $3.58 billion in July 2024

According to RBI data, among the prominent firms which have filed intent are ONGC Videsh Ltd for $800 million to be raised from an overseas branch of an Indian commercial bank

Govt to set up section 8 firm for startups to strengthen ecosystem: Goyal

Commerce and Industry Minister Piyush Goyal on Monday said a decision has been taken to set up a not-for-profit company under section 8 of the Companies Act to include all initiatives and bodies of Startup India under one roof. Goyal said the company can be industry-led, similar to Invest India, which can manage its affairs. At present, Startup India is housed in Invest India, which is a national body to promote investments. "We will support it as a catalyst so that policy-wise, it is on the right track. It will have an independent board and organisation structure and we would do a little oversight. The National Startup Advisory Council can also be a part of it," Goyal said. The Startup India initiative was launched on January 16, 2016. Under this, several programmes have been rolled out to support entrepreneurs, build a robust startup ecosystem and transform India into a country of job creators instead of job seekers. These programmes are managed by a dedicated Startup India Team

Oriental Trimex to raise Rs 48.51 crore; rights issue opens Thursday

Oriental Trimex, a processor and trader of natural stones, on Monday announced that the company will raise Rs 48.51 crore through rights issue. The subscription to the rights issue will open on Thursday and conclude on September 27. The company will issue up to 4.41 crore equity shares at price of Rs 11 per share (including a premium of Re 1 per share) on a rights basis to the eligible equity shareholders in the ratio of three equity shares for every two fully paid-up equity shares held by the eligible equity shareholders, Oriental Trimex said in a statement. The company has fixed September 5, 2024 as the record date to decided the eligibility of shareholders, it added. Proceeds from the issue will be used by OTL to repay its loans and working capital requirement. Also, funds will be used by the firm for setting up an additional machinery for marble block in Tamil Nadu and development of Jet-Black quarry granite in Odisha. "With only a nominal interest amount remaining, which is .

HCLTech tops TIME's World's Best Companies 2024 list among Indian firms

Indian IT firm HCLTech has been named the no.1 India-headquartered company in TIME magazine's World's Best Companies 2024 list. The Noida-headquartered firm has also secured a place in the global top 10 list within the Professional Services category. "This accolade underscores HCLTech's commitment to excellence and innovation. It reinforces our leadership in the industry and our status as a top employer. "Aligned with our purpose of 'Supercharging Progress' and 'Find Your Spark' employee value proposition, we are dedicated to maximizing employee potential, advancing community and social responsibility initiatives and achieving sustainability goals," said Rahul Singh, Chief Operating Officer of Corporate Functions, HCLTech. The World's Best Companies 2024 ranking identifies top-performing companies across the globe on the parameters of employee satisfaction, revenue growth, and sustainability. HCLTech posted a consolidated net profit of Rs 4,257 crore in the June quarter of FY25, u

Wipro tightens work-from-home policy, links office attendance to leaves

Wipro is enforcing a new policy requiring employees to work from the office at least three days a week. Those found violating the rules will be at risk of losing a day's leave

Mossant Fermentary launches clean-label tonics in four variants at Rs 99

India's non-alcoholic drinks market is expected to grow at a rate of 6.72 per cent, reaching $21.49 billion by 2028

70% of Fortune 500 firms will expand reach to India by 2030: Report

The report further added that the number of GCCs is expected to reach 2,100-2,200 in 2030 from the current over 1,700

Ceat eyes global market with truck tyre production line in Chennai plant

This expansion positions them to meet the growing demand for high-performance vehicle tyres in both domestic and international markets, the company said

New rules for mergers involving foreign firms announced: What this means

Latest amendments introduced by the Ministry of Corporate Affairs require companies to receive prior permission from the Reserve Bank of India for mergers and acquisitions

India Inc tightens remote work policies with legal aid for office return

Some companies emphasise the office location as the sole designated workplace, while also adding confidentiality clauses that limit remote work options

Finetuning industrial nodes: Intent correct, design requires refinement

The decision to develop select cities as industrial hubs is sound, but revisiting the choice of locations could make it a game-changer

Whistleblower complaints at Indian companies up 8% to 1,074 in FY24

Of the BSE-50 companies, two-year data of whistle-blower complaints were available for 14 companies

US wants to work with India to address key global problems: Biden admin

The US is keen on working with India to address some of the key global problems, including in areas like healthcare, clean energy and climate change, a top Biden administration official has said. The remarks by Nisha Desai Biswal, Deputy CEO of the US International Development Finance Corporation (DFC), came ahead of her visit to India this week. It's not about what India needs help with, as much as how the US and India are working together to address problems, Biswal told PTI in an interview. We have always said if you don't solve it in India, you can't solve it for the world, Biswal said before leaving for India, her first to the country in four years and first as the Deputy CEO of the DFC, which is a development finance institution and agency of the US. Her four-day trip to India will start on Tuesday. She said there are several areas -- like climate change and the issues of addressing global warming and controlling greenhouse gas emissions, supporting a clean energy transition

India's edtech sector sees 30% drop in funding to $215 mn amid slowdown

According to the report, the Indian edtech sector reported the highest-funded quarter in Q3 2021 with an overall funding of $2.48 billion

Soon, tyre companies to pay for flouting waste management guidelines

The Central Pollution Control Board has asked all producers to fulfil their assigned EPR obligations for fiscal years 2023 and 2024

Centre awards RIL full quota of Advanced Chemistry Cell under PLI-II

RIL is currently constructing an advanced chemistry-based battery manufacturing facility with a 30 GWh annual capacity in Jamnagar

TotalEnergies' Adani Green Energy investments now at $3.2 billion

TotalEnergies continues to invest in Adani Green, calling it as a strategic move in the Indian electricity market

Adani Enterprises to issue 1st-ever public bond next wk to raise Rs 800 cr

The company will sell bonds of multiple maturities including two years, three years and five years. However, it did not disclose what the funds would be used for

Food delivery platform Zomato eyes a new 'District' with third super brand

In this regard, Zomato's strategy differs greatly from that of its unlisted rival, Swiggy, who is trying to integrate all of its offerings under one 'super app'

GQG Partners, others buy Ambuja Cements stake worth Rs 4,251 crore

Adani family will use Rs 4,251 cr proceeds to accelerate investment across group firms