Page 4 - Private Companies
Boards of two Tata Motors finance companies to consider merger next week
Merger is part of Tata group plan to bring similar businesses under a single umbrella like Tata Steel's merger of seven subsidiaries with itself to consolidate its metals and mining businesses
 "Boards of two Tata Motors finance companies to consider merger next week")
Torrent Pharma acquires cosmetic derma player Curatio for Rs 2,000 cr
First major acquisition by Aman Mehta after taking charge at Torrent Pharma in August
 "Torrent Pharma acquires cosmetic derma player Curatio for Rs 2,000 cr")
Swedish weapons giant Saab to build Carl-Gustaf M4 rocket launcher in India
Swedish weapons giant says legacy supply chain can switch to new product
 "Swedish weapons giant Saab to build Carl-Gustaf M4 rocket launcher in India")
Dubai-based Mark ab Capital invests Rs 350 crore in Shriram EPC equity
The Dubai-based company has bought 26.48% stake in the turnkey solutions firm and has become its promoter
 "Dubai-based Mark ab Capital invests Rs 350 crore in Shriram EPC equity")
PepsiCo to invest over Rs 1,000 crore in Gorakhpur greenfield project
GIDA will allot 45 acres to the company for the plant, which will generate about 1,500 jobs
 "PepsiCo to invest over Rs 1,000 crore in Gorakhpur greenfield project")
Accenture sees Q1 revenue below estimates due to currency volatility
For the full year, the company reported revenue of $61.6 billion an increase of 22 per cent in the US dollar terms
 "Accenture sees Q1 revenue below estimates due to currency volatility")
Jawahar Goel quits as Dish TV director, will step down at Sept 26 AGM
Yes Bank, which holds 25% in Dish TV, has been pushing for a board revamp, including removal of Goel, Narang and others
 "Jawahar Goel quits as Dish TV director, will step down at Sept 26 AGM")
Peerless group poised for growth, targets Rs 1,000 crore turnover
PGFI's revenues for the year ended March 31, 2022, had stood at around Rs 498 crore while profit for the year was at 102.76 crore. But pre-Covid, turnover was in the region of Rs 535 crore
 "Peerless group poised for growth, targets Rs 1,000 crore turnover")
US private sector witnessed slower job growth in August, says report
Private companies in the US added 132,000 jobs in August, indicating a slower growth in a tight labour market, a payroll data company said in a report
 "US private sector witnessed slower job growth in August, says report")
Prep for curtailed lifestyle change at start: Entrepreneur Munish Randev
Munish Randev, founder and CEO, Cervin Family Office and Advisors, shares what it takes to start a new business
 "Prep for curtailed lifestyle change at start: Entrepreneur Munish Randev")
Most companies floated in Bengal after demonetisation vanished: Report
A number of companies floated in West Bengal immediately after demonetisation period have been wound up in the past five years, as per Income Tax department sources.
 "Most companies floated in Bengal after demonetisation vanished: Report")
Tata Motors' Q1 loss widens to Rs 5,007 cr amid chip woes, China lockdown
Losses at the UK subsidiary widened to £482 million, from £286 million, as JLR retail sales fell 37 per cent to 78,825 units from the year-ago quarter
 "Tata Motors' Q1 loss widens to Rs 5,007 cr amid chip woes, China lockdown")
Hero MotoCorp selects Accenture to enhance supply chain, reduce costs
Accenture will use its zero-based supply chain approach to facilitate Hero MotoCorp's cost optimisation efforts
Vedanta seeks shareholder nod for related-party deals worth Rs 8,661 cr
Three resolutions have been listed on the agenda of the company's annual general meeting (AGM), to be held on August 10, involving subsidiaries
 "Vedanta seeks shareholder nod for related-party deals worth Rs 8,661 cr")
UAE-based billionaire Yussuf Ali's Lulu Group enters UP with supermarket
Known for its sprawling business interests worldwide, billionaire Yussuf Ali-led Lulu Group is now entering northern India with one of the largest supermarkets in Uttar Pradesh
 "UAE-based billionaire Yussuf Ali's Lulu Group enters UP with supermarket")
UAE's Lulu Group expands in country of its founder Yusuff Ali
Abu Dhabibased supermarket chain Lulu Group opened a mall in Lucknow on Sunday as it expands in the country of its founder Yusuff Ali.
 "UAE's Lulu Group expands in country of its founder Yusuff Ali")
Invact Metaversity CEO Maheshwari steps down, will explore other avenues
The company has been in news as both the founders, Maheshwari and Tanay Pratap, had differences on how to run the firm
 "Invact Metaversity CEO Maheshwari steps down, will explore other avenues")
Govt wants private companies to set up new manufacturing units fast
The government wants new domestic companies to set up their manufacturing units in India fast and hence the concessional tax rate of 15 per cent has been extended by a year till March 2024
 "Govt wants private companies to set up new manufacturing units fast")
Strategic divestment to get tax deduction for previous losses
However, this relaxation would cease to exist after the private company stops holding 51 per cent in the erstwhile public sector company after strategic disinvestment
 "Strategic divestment to get tax deduction for previous losses")
Negligible subsidy regime widens doors for pvt firms to expand domestic LPG
Reliance Gas, GoGas, and Aegis Gas could step up
 "Negligible subsidy regime widens doors for pvt firms to expand domestic LPG")