Latest News on Corporate Actions

Mumbai, Jan 21 (PTI) Private sector lender Bandhan Bank on Friday reported a 35 per cent year-on-year jump in December quarter net profit at Rs 859 crore, helped by a reduction in provisions it had to set aside due to non-payment by borrowers. The microlender-turned-bank had reported a loss of Rs 3,009 crore in the [...]

Kolkata, Jan 21 (PTI) Birla Corporation Ltd, the flagship company of the MP Birla Group, on Friday inaugurated its 3.9-million tonne Mukutban integrated cement plant with an investment of Rs 2,744 crore in Maharashtra. The greenfield project of RCCPL Private Ltd, a wholly owned subsidiary of the cement maker, takes the group's total installed capacity [...]

New Delhi, Jan 21 (PTI) Competition Commission of India (CCI) has approved the proposed deal whereby Generali Participations Netherlands N.V. will hike its stake to 71 per cent in Future Generali India Life Insurance Company. Future Generali India Life Insurance is currently a joint venture between Future Group, Italy's Generali Group and Industrial Investment Trust [...]

Mumbai, Jan 21 (PTI) FedEx Express, a subsidiary of leading global express transportation company FedEx Corp, on Friday announced the commencement of electric vehicle (EV) trials in India with Bengaluru to begin with, as part of its global goal to achieve carbon-neutral operations by 2040. The trial, which is expected to conclude within a month in [...]

New Delhi, Jan 21 (PTI) Skoda Auto India on Friday said it has started production of its premium mid-size sedan Slavia from its plant at Chakan in Pune.The car, which will hit the market in the first quarter of 2022, has two petrol engine options of 1.0 litre 3-cylinder turbo and a 1.5-litre 4-cylinder turbo [...]

New Delhi, Jan 21 (PTI) Leading portfolio management firm Alchemy Capital Management on Friday announced the launch of a new Alternative Investment Fund (AIF), which will invest in emerging companies.The closed ended new fund -- Alchemy Leaders of Tomorrow -- Series 2 targets to raise around Rs 500 crore, the company said in a statement.The [...]

New Delhi, Jan 21 (PTI) Tata Motors on Friday said it has launched its latest range of passenger vehicles in Bhutan.The company said it has launched the product range in association with Samden Vehicles, an authorised distributor of passenger vehicles in Bhutan.Tata Motors will retail the new generation Tiago, Tigor, Altroz, Nexon, Harrier and flagship [...]

Mumbai, Jan 21 (PTI) Aviation firm Modair said on Friday it has set up a tech-enabled air logistics company Modair Express to cater to the cargo market, connecting Tier-II and Tier -III towns with the key cities across the country.Making same day delivery feasible, the newly launched company is a multi-phased project to ensure maximum [...]

New Delhi, Jan 21 (PTI) Clinical beauty tech startup Toothsi on Friday said it has raised USD 9 million (over Rs 65 crore) in a debt funding round led by Stride Ventures.The company, which offers at-home smile makeover services, such as dental alignment, said it plans to invest in technological advancements, geographical expansion and brand [...]

New Delhi, Jan 21 (PTI) Drug firm Laurus Labs on Friday said it has inked a pact with Geneva-based MPP (Medicine Patient Pool) for manufacturing the oral COVID-19 antiviral medication molnupiravir. "We are happy to sign an agreement to manufacture the oral COVID-19 antirviral medication, which is an urgent need of the hour, this is [...]

Mumbai, Jan 20 (PTI) Domestic rating agency Icra Ratings Thursday revised the asset under management (AUM) growth outlook of retail non-banking financial companies (NBFCs) to 5-7 per cent for the fiscal 2022 from an earlier expectation of 8-10 per cent. In the first half of FY2022, retail NBFCs grew by less than one per cent. [...]

New Delhi, Jan 20 (PTI) Biophore India Pharmaceuticals on Thursday said it has received licences from Medicines Patent Pool (MPP) on behalf of originator company MSD to manufacture and market molnupiravir for treatment of COVID-19 and will launch in India next week priced at Rs 1,500 for a pack of 40 capsules. The licences are [...]

New Delhi, Jan 20 (PTI) Retail giant Walmart on Thursday said it is inviting select Indian sellers to join Walmart Marketplace, a curated sellers community that serves more than 120 million US shoppers each month. India is already one of the top sourcing markets for Walmart and the retail major has set an ambitious goal [...]

New Delhi, Jan 20 (PTI) A former independent director of UFO Moviez India Ltd on Thursday settled a case of alleged insider trading with markets regulator Sebi by paying over Rs 21 lakh. The amount includes settlement charges, disgorgement of illegal gains and interest amount. S Madhavan was alleged to have traded in the scrip [...]

Mumbai, Jan 20 (PTI) The Reserve Bank has approved the appointment of former Comptroller and Auditor General (CAG) Vinod Rai as the chairman of Unity Small Finance Bank, which began operations last November with its first branch in the city. Rai, after his retirement as the CAG, headed the Banks Board Bureau, the body that [...]

New Delhi, Jan 20 (PTI) Nestle India on Thursday said it has "already withdrawn" from the market packs of its popular chocolate brand Kitkat which depicted images of Lord Jagannath, Balabhadra and Mata Subhadra on wrappers. Nestle India, the Indian subsidiary of the Swiss multinational FMCG giant Nestle, had to face on social media the [...]

New Delhi, Jan 20 (PTI) Haryana Real Estate Regulatory Authority, Gurugram on Thursday signed an MoU with Jupitice Justice Technologies for complete digitalisation of consumers complaint redressal system. The authority and Jupitice Justice signed a memorandum of understanding (MoU) in the regard, according to a statement. The MoU was signed in Gurugram in the presence of KK [...]

New Delhi, Jan 20 (PTI) Strides Pharma Science on Thursday said it has inked a partnership with Geneva-based Medicines Patent Pool (MPP) to commercialise antiviral drug molnupiravir in the international markets. The company and its subsidiary, Universal Corporation (Kenya), have entered into a voluntary non-exclusive sub-license partnership with MPP covering 105 countries, the drug firm [...]

New Delhi, Jan 20 (PTI) The consortium of lenders of Videocon Industries has invited fresh expressions of interest for the debt-ridden group after the insolvency appellate tribunal rejected the approval of Rs 2,692 crore bid by Vedanta Chairman Anil Agarwal-promoted Twin Star Technologies earlier this month. Pursuant to the order of the National Company Law [...]

Chennai, Jan 20 (PTI): Integrated payments technology company FSS (Financial Software and Systems) has partnered with the United Arab Emirates-based YAP, a digital banking platform, to deliver secure, digital first-card experiences to consumers in the Middle-East and African regions. Under the partnership, YAP and FSS would work to deliver greater value to customers by combining [...]

New Delhi, Delhi, India – Business Wire India Tesla Power USA announces the launch of their wellness division “Tesla Healthy Life” with its product range in Alkaline RO Water Purifiers. Tesla Power USA brings their expertise in water business with their cutting-edge technology to provide healthy water to everyone at an affordable cost. Tesla Healthy [...]

New Delhi, Jan 20 (PTI) Natco Pharma Ltd on Thursday said it has signed a non-exclusive license agreement with the Medicines Patent Pool (MPP), Switzerland to manufacture and sell Molnupiravir capsules 200 mg for treatment of COVID-19. MPP had taken licence from Merck Sharp & Dohme Corp (MSD), USA for the same, the company said [...]

Mumbai, Jan 20 (PTI) M2P Fintech, which calls itself a financial infrastructure company, on Thursday announced a USD 56 million (about Rs 409.7 crore) fundraise led by New York-based private equity fund Insight Partners.Japan's MUFG Innovation Partners and existing investors Tiger Global and Better Capital also participated in the funding round, a statement said, adding [...]

New Delhi, Jan 20 (PTI) Agri-digital platform BigHaat Agro has raised Rs 100 crore in a funding round led by JM Financial Private Equity.Apart from JM Financial Private Equity, Beyond Next Ventures, one of the earlier investors in BigHaat, also participated in the funding round.Proceeds from the investment will support augmentation of the existing technology infrastructure [...]

New Delhi, Jan 20 (PTI) Australia-based health and dietary supplements company Blackmores on Thursday announced a distribution partnership with B2B e-commerce firm Udaan for its range of multi vitamins products. As part of the partnership, Blackmores' range of premium multi vitamins products will be available to independent pharmacies in India through Udaan "The launch on [...]

New Delhi, Jan 20 (PTI) Mahindra & Mahindra (M&M) on Thursday said it has partnered with SAP to spearhead its digital transformation journey. SAP will enable the Mumbai-based automaker to successfully modernise its technology landscape and enhance overall operations. "Agility and business innovation is a priority in the changing industry dynamics and customer expectations. We believe [...]

Mumbai, Jan 20 (PTI) Renew Power has entered into an joint venture with the US-based Fluence -- which is a market leader in energy storage products, services and digital applications for renewables -- to market storage devices in the country. The 50:50 joint venture will be managed and operated by an independent management team and [...]

New Delhi, Jan 20 (PTI) Bengaluru-based social investment startup StockGro on Thursday said it has concluded a USD 32 million (around Rs 232 crore) funding round that was led by global investors, including Bitkraft Ventures, General Catalyst and Lightrocks co-founder Itai Tsiddon.Existing investors such as Roots Ventures and Creed Capital Asia also participated in the [...]

- These industry veterans have joined the Office Services and Project Management teams to drive Colliers' aggressive expansionary strategy MUMBAI, India, Jan. 20, 2022 /PRNewswire/ -- Leading diversified professional services and investment management firm Colliers (NASDAQ: CIGI) (TSX: CIGI) today announced the appointment of three senior executives, who have joined Colliers' office in Mumbai, as [...]

New Delhi, Jan 20 (PTI) Larsen & Toubro (L&T) on Thursday said its heavy engineering arm has dispatched six of the world's largest coke drums to Mexico. These coke drums were successfully manufactured during the COVID-19 pandemic at L&T's state-of-the-art Heavy Engineering Complex located at Hazira near Surat, the company said in a statement. "The [...]

New Delhi, Jan 20 (PTI) Toyota Kirloskar Motor on Thursday launched the iconic SUV model Hilux in the country.The automaker, which is a joint venture between the Japanese Toyota Motor Company and Kirloskar Group, has commenced bookings for the model, with deliveries expected to begin in April.The company noted that the vehicle would come with [...]

New Delhi, Jan 20 (PTI) Silver jewellery startup GIVA has raised USD 10 million (around Rs 74 crore) from investors including Sixth Sense Ventures, to grow its business through offline and online mode. The company, in its series A funding round, raised USD 10 million, led by D2C-focused venture capital funds Sixth Sense Ventures, A91 Partners and [...]

New Delhi, Jan 20 (PTI) The global solar sector has witnessed total corporate funding of USD 27.8 billion in 2021, the highest in the last 10 years, according to Mercom Capital Group.Corporate funding includes venture capital and private equity (VC), debt financing, and public market financing.In its latest report, the global clean energy consulting firm [...]

New Delhi, Jan 20 (PTI) Exxelia, a leading designer and manufacturer of high-performance passive components and sub-systems, on Thursday said it has acquired a majority stake in Alcon Electronics for nearly USD 100 million. Exxelia completed the majority acquisition of Alcon Electronics on December 29, 2021, according to a company statement. "We are excited to [...]

New Delhi, Jan 20 (PTI) In a major relief to IT firm HCL Technologies, the National Company Law Appellate Tribunal (NCLAT) has stayed the insolvency proceedings initiated against it on a plea filed by a creditor.A two-member NCLAT bench, while admitting the petition filed by HCL Tech MD and CEO C Vijayakumar stayed the National [...]

New Delhi, Jan 20 (PTI) SaaS Labs, which builds business automation tools for sales and support teams worldwide, has raised USD 42 million (about Rs 312 crore) in a funding round led by Sequoia Capital India. The Series B funding round also saw participation from existing investors -- Base 10 Partners and Eight Roads Ventures, [...]

New Delhi, Jan 20 (PTI) Chennai-based medical device firm Kriya Medical Technologies on Thursday said it has received Indian Council of Medical Research approval for Krivida Novus COVID-19 testing kit -- developed in collaboration with ImmuGenix Bioscience -- that can also detect the Omicron variant.The kit detects the SARS-CoV-2 virus and also differentiates the Omicron [...]

New Delhi, Jan 20 (PTI) Natural beauty care company Lotus Herbals on Thursday said it has acquired a 25 per cent stake in direct-to-consumer brand Conscious Chemist. Conscious Chemist is a new-age clean beauty brand operating in the skincare category. The company, however, did not disclose the financial details of the transaction. Commenting on the [...]

New Delhi, Jan 20 (PTI) California-based technology company Pixis (formerly known as Pyxis One) on Thursday said it has raised USD 100 million (about Rs 743.8 crore) in funding, led by SoftBank Vision Fund 2. The Series C round also saw participation from new investor General Atlantic, and existing investors Celesta Capital, Premji Invest, and [...]

New Delhi, Jan 20 (PTI) Cadila Healthcare Ltd on Thursday said group firm Zydus has received final approval from the US health regulator to market its generic version of Vigabatrin tablets to treat babies with infantile spasms and epilepsy in combination with other medications. The approval by the US Food and Drug Administration is for [...]

New Delhi, Jan 20 (PTI) Global agri-trade firm Bunge will acquire a 33 per cent stake in Brazil-based Sinagro, an associate company of India's leading agrochemical firm UPL Ltd.UPL Ltd and other shareholders in Sinagro Produtos Agropecuarios SA, Brazil, (Sinagro) have entered into an agreement with Bunge in this regard.Bunge Ltd will acquire a 33 [...]

New Delhi, Jan 20 (PTI) Glenmark Pharmaceuticals Ltd on Thursday said its Swiss arm has entered into an exclusive licensing agreement with Lotus International Pte Ltd for commercializing its innovative nasal spray Ryaltris in Singapore, Hong Kong and Vietnam. Under the agreement signed between Glenmark Specialty SA and the wholly-owned subsidiary of Lotus Pharmaceutical Co, [...]

BENGALURU, India, Jan. 20, 2022 /PRNewswire/ -- Tejas Networks (BSE: 540595) (NSE: TEJASNET) today announced the appointment of Mr. N. Ganapathy Subramaniam and Mr. Amur S. Lakshminarayanan as Nominee Directors from Panatone Finvest Limited, a subsidiary of Tata Sons Private Limited. This appointment is based on recommendation of the Nomination and Remuneration Committee of Tejas [...]

GURGAON, India, Jan. 20, 2022 /PRNewswire/ -- Gurgaon-based software engineering company announced that it has plans to create 500 full-time jobs this year. To keep up with the increasing customer demand and to strengthen their portfolio for diverse technologies, Daffodil has declared a massive number of vacancies at its headquarters in Gurgaon. The COVID-19 pandemic [...]

New Delhi, Jan 19 (PTI) State-owned Power Finance Corporation on Wednesday said its arm PFC Consulting Ltd has transferred two wholly-owned subsidiaries to Adani Transmission Ltd for implementing power transmission projects. Adani Transmission had emerged as the successful bidder for these two transmission projects on January 18, according to a BSE filing. As per the [...]

Newgen Software acquires Number Theory for over Rs 16 cr Mumbai, Jan 19 (PTI) Newgen Software, a leading provider of a unified digital transformation platform, has acquired Number Theory, which is an artificial intelligence/ machine learning (AI/ML) data science platform firm, for Rs 16.05 crore. This is a strategic acquisition and Newgen will make a [...]

New Delhi, Jan 19 (PTI) Rocketlane, a customer onboarding platform, on Wednesday said it has raised USD 18 million (about Rs 133.8 crore) in funding led by Asana investor, 8VC and others.The Series A round also saw participation from Nexus Venture Partners, Matrix Partners India, and angel investor Gokul Rajaram, a statement said.The latest funding [...]

New Delhi, Jan 19 (PTI) The National Company Law Appellate Tribunal (NCLAT) has set aside an NCLT order rejecting pleas by Ericsson India and Ericsson India Global Services to convene a meeting of their shareholders and creditors to approve a scheme of amalgamation. A two-member NCLAT bench comprising Anant Bijay Singh and Shreesha Merla allowed [...]

New Delhi, Jan 19 (PTI) US-based Hunting Energy Services (Hunting PLC) will set up a precision machine shop in a joint venture with homegrown steel pipes maker Jindal SAW at an initial investment of up to USD 25 million (about Rs 175 crore), a top company official said on Wednesday.Addressing a virtual conference, Hunting PLC [...]

New Delhi, Jan 19 (PTI) The government on Wednesday approved sanction of Rs 973.74 crore to State Bank of India (SBI) as reimbursement related to loan moratorium that was implemented in 2020 amid the pandemic. This amount is for the payment of claims submitted by lending institutions (LIs) under the scheme for grant of ex-gratia [...]

Chennai, Jan 19 (PTI): Diginoor.io, a non-fungible token (NFT) market place founded by city-based entrepreneurs Shaamil Karim and Yash Rathod, on Wednesday said it has raised USD 1 million funding for its plans to hire a talented team. "The round saw participation from Contrary Capital, Polygon Fund, Sandeep Nailwal, Kunal Shah, Embassy Capital MD Abdul [...]

Chennai, Jan 19 (PTI) Consulting, technology and managed transformational services provider Prodapt on Wednesday said it has acquired Synophic Worldwide, providing network transformational and managed services to digital service providers for an 'undisclosed sum". The acquisition made by Prodapt was its third this financial year. Prodapt earlier announced the acquisitions of Innovative Logic and SLR [...]

Mumbai, Jan 19 (PTI) The Gem and Jewellery Export Promotion Council (GJEPC) on Wednesday said it has signed a draft agreement with the Maharashtra Industrial Development Corporation (MIDC) for granting the possession of land for 95 years to set up the India Jewellery Park Mumbai (IJPM). "The India Jewellery Park Mumbai, another ambitious project of [...]

Mumbai, Jan 19 (PTI) Avendus PE Investment Advisors, the asset management arm of the Avendus Group, has raised over Rs 500 crore in the first close of its structured credit fund II which has a target of garnering Rs 1,000 crore in corpus on completion. For the Sebi-registered category II alternative investment fund, this is [...]

New Delhi, Jan 19 (PTI) State-owned SJVN Ltd on Wednesday said it earned Rs 34.40 crore as an incentive from its hydropower plants during April-December 2021. "The company has earned Rs 34.40 crore as incentive under the deviation settlement mechanism from 1,500-MW (megawatt) Nathpa Jhakri HPS and 412-MW Rampur HPS (hydropower station) in three quarters [...]

New Delhi, Jan 19 (PTI) Tech-based intra-city logistics company Porter on Wednesday announced its maiden Employee Stock Ownership Plan (ESOP) monetisation programme worth USD 5 million (about Rs 37.2 crore) for its eligible current and former employees. The liquidation opportunity, which will be open for participation through next week, is expected to benefit both the [...]

New Delhi, Jan 19 (PTI) Digital wealth manager Scripbox on Wednesday said it has raised USD 21 million (about Rs 150 crore) in a combination of equity and debt through Series-D funding led by Accel Partners.The funding round also saw participation from Transpose Platform, DMI Alternative Investment Fund - The Sparkle Fund, InnoVen Capital, Trifecta [...]

New Delhi, Jan 19 (PTI) B2B services rental startup Settlrs on Wednesday said it has raised USD 1 million (over Rs 7 crore) fund from Canbank Venture Capital Fund Ltd and other investors.The startup -- incubated at NSRCEL, IIM Bangalore (IIMB) -- said the other investors are Vinod Jain Family Office, MaGeHold Pte Ltd, JN [...]

New Delhi, Jan 19 (PTI) Reliance Retail had acquired about 55 per cent stake in robotics firm Addverb Technologies in July 2021, Indian conglomerate Reliance Industries Limited said in a filing on Wednesday. Addverb Technologies co-founder and CEO Sangeet Kumar has told PTI that Reliance Retail has invested USD 132 million (about Rs 983 crore) [...]

Chennai, Jan 19 (PTI) Cholamandalam Investment and Finance Company Ltd, the financial services division of diversified conglomerate Murugappa Group, on Wednesday said it has launched three new business divisions under the consumer and SME business. The Chennai-based leading player in vehicle finance, loan against property, and housing finance business, said it has entered into an [...]

New Delhi, Jan 19 (PTI) The National Company Law Appellate Tribunal (NCLAT) has approved ArcelorMittal India's takeover bid for Odisha Slurry Pipeline Infrastructure Ltd (OSIL), after it dismissed a batch of appeals filed against the L N Mittal-owned unit's resolution plan for the loan defaulter firm. A two-member Bench, comprising Jarat Kumar Jain (judicial member) [...]

New Delhi, Jan 19 (PTI) Dileep Sanghani has been elected as chairman of the Indian Farmers Fertiliser Cooperative (IFFCO). The election was held on Wednesday, IFFCO said in a statement. These elections were held due to the demise of incumbent Chairman Balvinder Singh Nakai earlier on October 11, 2021. The elected board of directors of [...]

Mumbai, Jan 19 (PTI) The Forum for Companies Under the Resolution Process (FCRP), a grouping of businessmen, has raised concerns about an EY top executive being the resolution professional for the Srei group, which is undergoing RBI-mandated insolvency proceedings, saying his appointment "reeks of conflicts of interest". Abizer Diwanji, a partner and national leader for [...]

New Delhi, Jan 19 (PTI) Lummo (previously known as BukuKas) on Wednesday said it has raised USD 80 million (about Rs 595.8 crore) in funding led by Tiger Global and Sequoia Capital India.Other global tech and e-commerce investors such as CapitalG (independent growth fund of Google parent company Alphabet); NuvemShop CEO Santiago Sosa; and former [...]

New Delhi, Jan 19 (PTI) IndiGG, a part of Yield Guild Games (YGG), on Wednesday said it has raised USD 6 million (about Rs 44.7 crore) in funding from Sequoia Capital India, Lightspeed Venture Partners and others. The round also saw participation from Jump Capital, Variant Fund, Dune Ventures, Griffin Gaming Partners, Transcend Fund, Animoca [...]

Mumbai, Jan 19 (PTI) MatchLog, a container logistics optimisation platform, has raised USD 3 million (around Rs 22.3 crore) in a funding round from venture capital fund Blue Ashva Capital, Rainmatter Climate, and early-stage investor Capital-A. The capital raised in the pre-Series A round will be deployed to develop Matchlog's platform further for AI and [...]

New Delhi, Jan 19 (PTI) Proptech startup Reloy, which is a loyalty platform for homeowners, has raised Rs 5 crore from investors, including Inflection Point Ventures, to expand and grow its business. The strategic pre-Series A round was led by Inflection Point Ventures, Fawkes Fund, family office of Greenpanel & Greenlam, and 50+ prominent angels, [...]

New Delhi, Jan 19 (PTI) Pet foods start-up Dogsee Chew on Wednesday said it has raised Rs 50 crore in Series A round from Mankind Pharma along with existing investor, Sixth Sense Ventures. The investment in the firm that offers 100 per cent vegetarian dog treats marks Mankind Pharma's entry into the pet food category, [...]

New Delhi, Jan 19 (PTI) Drug firm Lupin on Wednesday said it has inked a pact with Shenzhen Foncoo Pharmaceutical Co to sell products in China. This is the company's first partnership arrangement in China and reinforces drug maker's commitment to bringing high-quality generic and complex generic medicines to patients around the world, Lupin said [...]

New Delhi, Jan 19 (PTI) State-run non-banking financial firms -- Power Finance Corporation (PFC) and REC Ltd -- have reduced their lending rates across all types of loans by 40 basis points. PFC and REC Ltd have further reduced their lending rates across all types of loans by 40 Bps, a power ministry statement said. [...]

New Delhi, Jan 19 (PTI) Used two-wheeler buying and selling platform CredR on Wednesday said it will invest USD 15 million (around Rs 110 crore) in 2022-23 to expand its business. The Bengaluru-based firm plans to open 50 CredR showrooms for used two-wheelers in FY22-23 and over 100 showrooms by 2024, CredR said in a [...]

Hatching Hope: Accelerating Incomes Through Diversification builds on global backyard poultry initiative and previous program partnerships to challenge cultural norms and increase financial independence for women VIJAYAWADA, Andhra Pradesh, Jan. 19, 2022 /PRNewswire/ -- Today, Heifer International, Cargill and Walmart Foundation announced the expansion of Hatching Hope: Accelerating Incomes Through Diversification into India to improve [...]

Anjan Khandelwal Will Work as the Firm's Chief Financial Officer and Parul Gopal as Chief Administrative Officer. MUMBAI, India, Jan. 18, 2022 /PRNewswire/ -- Burns & McDonnell India, a full-service engineering, architecture, construction, environmental and consulting solutions firm, has named Anjan Khandelwal as chief financial officer (CFO) and Parul Gopal as chief administrative officer (CAO). [...]

New Delhi, Jan 18 (PTI) Senior bureaucrat Vikram Dev Dutt was on Tuesday appointed as the new chief of the loss-making national carrier Air India, which is slated to be handed over to the Tata Sons.Dutt's appointment was part of a senior-level bureaucratic reshuffle effected by the Centre in which Manish Kumar Gupta was appointed [...]

New Delhi, Jan 18 (PTI) Senior bureaucrat Vikram Dev Dutt has been appointed as the Chairman & Managing Director of Air India Ltd as part of a senior-level bureaucratic reshuffle effected by the Centre on Tuesday.Dutt, a 1993-batch IAS officer of AGMUT (Arunachal Pradesh, Goa, Mizoram and Union Territory) cadre, is at present Principal Secretary [...]

New Delhi, Jan 18 (PTI) The government has suspended E S Ranganathan, Director (Marketing) of GAIL (India) Ltd, after his arrest by the CBI over allegedly taking bribes to give discounts to private companies buying petrochemical products from the state-owned gas utility. The Ministry of Petroleum and Natural Gas on January 17 issued orders suspending [...]

New Delhi, Jan 18 (PTI) Senior bureaucrat Vikram Dev Dutt has been appointed as the Chairman and Managing Director of Air India Ltd as part of a senior-level bureaucratic reshuffle effected by the Centre on Tuesday.Dutt is a 1993-batch IAS officer of AGMUT (Arunachal Pradesh, Goa, Mizoram and Union Territory) cadre.He has been appointed as [...]

New Delhi, Jan 18 (PTI) The government will use the Supreme Court order calling the 2005 deal between ISRO's commercial arm Antrix and privately-owned Devas Multimedia a fraud, to counter seizure of its properties, Finance Minister Nirmala Sitharaman said on Tuesday as she launched a blistering attack on the Congress for handing over airwaves used [...]

Mumbai, Jan 18 (PTI) Sidbi on Tuesday said it has sanctioned financial assistance of Rs 650 crore to AU Small Finance Bank and Jana Small Finance Bank so as to reach out to small-sized NBFCs/MFIs who will in turn provide funding to small businesses and micro entrepreneurs. An amount of Rs 530 crore has already [...]

New Delhi, Jan 18 (PTI) Two-wheeler market leader Hero MotoCorp and investment firm Engine No. 1, along with another investor, will invest in electric vehicle battery swapping ecosystems provider Gogoro Inc and Poema Global Holdings, a special purpose acquisition company, increasing the total funding to USD 285 million, according to a regulatory filing. With this, [...]

New Delhi, Jan 18 (PTI) Abacus.AI on Tuesday said the company will invest USD 50 million in its R&D (research and development) division in Mumbai over the next three years. The company plans to initially hire 20 engineers and scientists, and this number will grow to 200 in the next three years, the company said [...]

New Delhi, Jan 18 (PTI) Tata Consultancy Services on Tuesday said it has tied up with Canada Running Series (CRS) to become the new title sponsor and official IT services and technology consulting partner of the Toronto Waterfront Marathon and Virtual Race through November 2026. TCS and CRS aim to modernise marathon running in Canada [...]

New Delhi, Jan 18 (PTI) State-owned power giant NTPC has invited bids from developers to build a 900-megawatt (MW) solar photovoltaic parks in Cuba. "NTPC Ltd, India's largest integrated energy producer, invites bids from developers to build the solar PV parks in the Republic of Cuba," the company said in a statement. NTPC, a corporate [...]

Collaboration brings expanded value to Fine Fragrance category GENEVA, Jan. 18, 2022 /PRNewswire/ -- Firmenich, the world's largest privately-owned fragrance and taste company, is proud to announce a new strategic partnership with HARMAY, a leading new retail brand in China. Under the agreement, Firmenich and HARMAY will join forces to contribute to the development of [...]

New Delhi, Jan 18 (PTI) Rural broadband infrastructure organisation BBNL expects to connect 6,929 panchayats located in border, Naxal-affected areas and in island territories with satellite-based communications services. The special purpose vehicle under the telecom ministry has already commissioned satellite services in 4,682 gram panchayats (GPs) including those located in Galwan Valley, Doklam, Leh, Tawang [...]

New Delhi, Jan 18 (PTI) HUVIAiR Technologies, which provides software solutions for construction projects, on Tuesday said it has raised USD 3.2 million (around Rs 23.82 crore) in a funding round led by Chiratae Ventures to expand and grow its business. HUVIAiR is headquartered in Bengaluru and was founded by Vikshut Mundkur (CEO) and Arjun [...]

Bengaluru, Jan 18 (PTI) MyCaptain, a city-based online mentoring startup on Tuesday announced that it has raised USD 3 million in Pre Series-A funding, led by Ankur Capital. The round also saw participation from IPV (Inflection Point Ventures), Firstport ventures, IIM Calcutta Angels Network, Singapore Angel Investors and other Super Angels. This funding will be [...]

New Delhi, Jan 18 (PTI) Electronics manufacturing firm Dixon Technologies and Imagine Marketing -- the parent company of earwear brand boat -- have formed a 50:50 joint venture to manufacture Bluetooth enabled audio devices.“The company and Imagine have entered into a joint venture agreement to form a joint venture company for undertaking the manufacture of [...]

New Delhi, Jan 18 (PTI) Ohmium International has partnered with IIT Madras Research Park (IITMRP) to accelerate Polymer electrolyte membrane (PEM) electrolyzer performance enhancements. Both the entities have announced a R&D partnership, which will accelerate the production implementation of PEM electrolyzer technology enhancements, a statement said. Ohmium International enables industries to deploy green hydrogen for [...]

New Delhi, Jan 18 (PTI) Online travel service provider EaseMyTrip on Tuesday said it has entered into a partnership with regional airline Flybig to sell the latter's tickets exclusively on its platform.All the bookings of Flybig by any other online travel portals will also go through and be processed by EaseMyTrip, the company said in [...]

New Delhi, Jan 17 (PTI) HCL Technologies CEO Vijayakumar on Monday said he expects the rising attrition rates to stabilise in the future quarters as he exuded confidence in the steps being taken by the IT major, including ramping up fresher hiring, to arrest the spike. The company, which expects its fresher hiring to be [...]