L&T Infotech and Mindtree on Friday announced a mega-merger to create an efficient and scaled-up IT services provider, exceeding USD 3.5 billion in combined revenue, according to a statement. The name of the combined entity will be 'LTIMindtree', the statement said. In an all-share deal, L&T Infotech will offer 73 shares for every 100 shares [...]
Online food delivery platform Zomato's Founder and CEO Deepinder Goyal will be donating around USD 90 million (nearly Rs 700 crore) from vested ESOPs to Zomato Future Foundation to help fund the education of children of its delivery partners. In an internal memo shared with the employees of the company, Goyal said before Zomato went [...]
State-owned Oil and Natural Gas Corporation (ONGC) has won 18 out of the 21 areas offered for finding and producing oil and gas in the sixth bid round under Open Acreage Licensing Policy, according to the upstream regulator DGH. Oil India Ltd (OIL) walked away with two blocks and Sun Petrochemicals Pvt Ltd got one [...]
Chennai, Tamil Nadu, India – Business Wire India TVS Motor Company, a reputed manufacturer of two-wheelers and three-wheelers globally, announced at its board meeting today the elevation of Sudarshan Venu as Managing Director of the Company, effective today. Sudarshan has been charting the future of one of India’s leading two-wheeler manufacturer and has made it [...]
New Delhi, May 6 (PTI) Tata Motors on Friday said it has reappointed former SBI Chairman Om Prakash Bhatt as an additional director till March 7, 2026. The company's board, based on the recommendation of the nomination and remuneration committee, has approved appointment of Bhatt as an additional non-executive independent director for the second consecutive [...]
New Delhi, May 6 (PTI) Leading diagnostics platform Redcliffe Lifetech on Friday said it has raised USD 61 million (around Rs 466 crore) in a funding round led by LeapFrog Investments. Healthquad, Schroders, LC Nueva, Growth Spark Ventures and existing investors Chiratae Ventures and Alkemi Venture Partners also participated in the funding round. The investment [...]
Edtech firm Vedantu has laid off 200 employees as it did not find them in sync with the company's growth expectation. When contacted, the company spokesperson confirmed the development and said the firm is also hiring over 1,000 new people. "We have over 6,000 employees out of which 120 contractors and 80 full-time or 3.5 [...]
New Delhi, May 5 (PTI) Engineering firm ABB India on Thursday said its Chairman Morten Wierod has resigned."Morten Wierod vide letter dated May 5, 2022, has tendered his resignation from the position of Chairman and Non-executive & Non-independent Director of the Company, effective closure of business hours of May 5, 2022," a BSE filing said.The [...]
New Delhi, May 5 (PTI) Debt-ridden Future Group on Thursday said it has completed the sale of its 25 per cent equity in Future Generali India Insurance Company Ltd (FGIICL) to its JV partner Generali for Rs 1,266.07 crore as part of its asset monetisation plans to pair debts.After receiving mandatory approvals from the government [...]
New Delhi, May 5 (PTI) IT company Wipro Limited and domestic telecom gear maker HFCL have entered into a partnership to jointly develop 5G product portfolio, mainly the routers required to connect mobile sites with the core network of telecom operators. The companies will collaborate on a portfolio of 5G products for the telecommunications sector, [...]
