Latest News on Corporate Actions

State-owned NMDC Ltd on Tuesday reported an 11.42 per cent rise in its iron ore production of 3.51 million tonne (MT) in April 2023. It produced 3.15 MT of iron ore in the same month last year, NMDC said in a BSE filing. Last month, the company's sales rose by around 10 per cent to [...]

Go First on Tuesday said it has been forced to seek voluntary insolvency resolution proceedings due to "serial failure" of Pratt & Whitney engines resulting in grounding of 50 per cent of the fleet and is no longer in a position to continue to meet its financial obligations. The latest move by the Wadia group-owned [...]

State-owned NTPC Ltd on Tuesday reported an over two-fold jump in production of coal from its captive mines at 2.75 million metric tonnes in April 2023. "NTPC recorded 2.75 million metric tonnes (MMT) of coal production during the month of April 2023 as compared to 1.11 MMT recorded for the month of April 2022," a [...]

CIL, the world's largest coal miner, on Tuesday said coal production rose 7.7 per cent in April and supplies to users shot up just as summer began. In a statement, Coal India Ltd (CIL) said it logged an impressive 31 per cent growth in overburden removal (OBR) in April compared to the same month a [...]

Bajaj Auto Ltd on Tuesday reported a 7 per cent increase in total sales at 3,31,278 units in April 2023, as compared to the same month last year. The company had posted a total sales of 3,10,774 units in April 2022, Bajaj Auto said in a regulatory filing. The total two-wheeler sales rose 2 per [...]

Mahindra & Mahindra on Tuesday said its total sales increased by 36 per cent to 62,294 units in April. The company's total dispatches to dealers stood at 45,640 units in April 2022. The company's passenger vehicle wholesales in the domestic market rose by 54 per cent to 34,698 units last month against 22,526 in April [...]

Cyient, an Engineering and Technology solutions company, on Tuesday announced that a case brought by the US Department of Justice against an executive of the company on grounds of violation of Sherman Act for alleged 'No-Poach' agreement, has been dismissed mid-trial by a federal court. A press release from the company said the case was [...]

The Investment Board Nepal (IBN) on Thursday signed a Memorandum of Understanding (MoU) with Dabur Nepal, a subsidiary of Dabur India, paving the way for the Indian multinational company to inject Rs 9.68 billion additional investment in its projects. The IBN, a government of Nepal entity, and Dabur Nepal inked the MoU to build, operate [...]

Markets regulator Sebi on Thursday barred Karvy Investor Services Ltd (KISL) from taking new clients for allegedly violating regulatory norms. The order came after Sebi carried out an physical inspection for the purpose of verifying its compliance status with various regulatory requirements while handling the public issues of debt securities during FY 2021-22. In a [...]

B2B e-commerce company udaan on Thursday said it has entered into a partnership with Reliance Consumer Products for pan-India distribution of beverage brand Campa's range of products. RCPL's (Reliance Consumer Products Ltd) range of Campa beverages will be initially available in over 50,000 retailers and kirana stores, which will gradually expand to over 1 lakh [...]

Tesla Power USA on Thursday said it has inked an agreement with Indian Oil Corporation Limited (IOCL) to sell and service batteries at the state-owned firm's petrol pumps. The partnership will enable Tesla Power to sell and service batteries at over 36,000 IOCL petrol pumps across India, the US-based firm said in a statement. "This [...]

Online food delivery platform Swiggy has partnered with jobs and professional networking company apna to create 10,000 hyperlocal opportunities for its quick commerce grocery service -- Instamart -- in 2023. With this, the company is aiming to strengthen its delivery workforce in tier 2 cities. Announcing the partnership on Thursday, apna shared that in 2022, [...]

Trials for Coal India's in-house e-auction platform will begin in May, a senior official said on Thursday. At present, the e-auctions are conducted through external agencies such as MSTC Ltd and mjunction Ltd. Within the next three-four months, all e-auctions of the state-owned Coal India will move to the in-house platform, which has been developed [...]

Sebi on Wednesday barred six individuals from the securities market for up to three years and imposed penalty totalling Rs 5.8 crore on them in a case pertaining to circulating misleading messages recommending buying specific stocks using social media platform Telegram. The regulator has asked them to pay the fine within 45 days. In addition, [...]

The National Financial Reporting Authority (NFRA) has imposed a ban and penalties totalling Rs 1.15 crore on three entities, including two auditors, for lapses in the auditing of Tanglin Developments Ltd and MACEL. Tanglin Developments Ltd (TDL) and Mysore Amalgamated Coffee Estate Ltd (MACEL) are subsidiaries of listed-entity of Coffee Day Enterprises Ltd (CDEL). Late [...]

Dalmia Bharat on Wednesday said it has executed definitive agreements with debt-ridden Jaiprakash Associates Ltd (JAL) to acquire the latter's cement assets as per an earlier announcement. Dalmia Cement (Bharat) Ltd (DCBL), a subsidiary of Dalmia Bharat, on Tuesday executed definitive agreements with JAL for the acquisition of JP Super Cement Plant in Uttar Pradesh [...]

Manufacturers of braking equipment for automotive and non-automotive applications Brakes India has forayed into the lubricants segment with the launch of 'Revia' brand, the company said on Wednesday. The engine oils would cater to both passenger- and commercial-vehicle segments. "Established for over six decades, Brakes India is known in the automotive industry for safety components [...]

Shares of Multi Commodity Exchange of India (MCX) tumbled nearly 8 per cent in the mid-session trade on Wednesday after its Chief Technology Officer Shashank Sathe resigned from the company. The firm's scrip tanked 7.77 per cent to Rs 1,372.10 apiece on the NSE. On the BSE, it plunged 7.71 per cent to Rs 1,373 [...]

Essar Oil and Gas Exploration and Production Ltd (EOGEPL) will invest another Rs 2,000 crore in the next 18 to 24 months in its coal bed methane project in West Bengal’s Raniganj, an official said. The company earlier had already invested Rs 5,000 crore in the Raniganj block in drilling 350 wells and producing nearly [...]

Reliance Industries Ltd's (RIL) strategy to diversify and dominate a number of industries will boost spending and will also help mitigate its elevated capex needs, rating agencies said on Wednesday. While S&P Global Ratings said it believes that "the company's appetite for bigger investments or M&As will dissipate", Fitch Group company CreditSights said its "credit [...]

Homegrown Larsen & Toubro (L&T) on Tuesday said its power transmission and distribution business has won significant orders in the domestic and overseas markets. The infrastructure major did not disclose the financial details of the projects. However, according to its classification, significant orders value in the range of Rs 1,000-2,000 crore. The power transmission & [...]

Adani Power Ltd on Thursday said it has signed an agreement with MPSEZ Utilities Limited (MUL) for power supply. In a regulatory filing, Adani Power said the power supply agreement is for 15 years. "Adani Power has entered into a long-term power supply agreement (PSA) with MUL for 360 MW capacity to be supplied from [...]

HDFC Bank on Thursday said it has appointed Kaizad Bharucha as deputy managing director and Bhavesh Zaveri as executive director for three years. These appointments have been made after clearance from the Reserve Bank of India, HDFC Bank said in a regulatory filing. The RBI, in its communication dated April 19, 2023, has approved the [...]

To expand its presence in the fast-growing food market, Wipro Consumer Care and Lighting on Thursday announced the acquisition of Brahmins, a Kerala-based traditional vegetarian, spice mix and ready-to-cook brand. Part of Azim Premji-led Wipro Enterprises had forayed into the foods segment six months before with the acquisition of the Nirapara brand -- known for [...]

Oriana Power on Thursday announced commissioning of a one megawatt peak (MWp) floating solar power project in Rajasthan. The project has been commissioned for Udaipur Cement Works Limited (UCWL), a subsidiary of JK Lakshmi Cement, at its Dabok mine in the state. According to the company, the project will generate approximately 1.7 million units of [...]

Fortis Healthcare on Thursday said it has inked a pact with the VPS Group to acquire Manesar-based Medeor Hospital for Rs 225 crore. The healthcare major said it has signed definitive agreements to acquire Medeor Hospital for an overall purchase consideration of Rs 225 crore. The hospital has a potential capacity of 350 beds and [...]

Integrated power company Tata Power has partnered with the Coimbatore municipal corporation to install 20 public electric vehicle charging stations in the textile city, the company said on Thursday. With the installation of 20 public EV chargers, the total EV charging stations set up by Tata Power in Tamil Nadu would increase to 116. The [...]

Natco Pharma Ltd on Thursday said its board has approved setting up of a subsidiary in Indonesia with an investment of up to USD 3 million (nearly Rs 25 crore) for selling pharmaceutical products in that country. The new subsidiary -- PT. NATCO Lotus Farma -- will be a joint venture with Natco holding 51 [...]

Hospitality technology firm OYO on Thursday said it will add 50 new properties in Ayodhya in 2023 under a collaboration with Ayodhya Development Authority and Uttar Pradesh State Tourism Development Corporation. Out of the 50 new properties to be added in Ayodhya, about 25 will be homestays run by homeowners and 25 will be small [...]

Most of the stores of quick commerce player Blinkit have resumed operations after being affected by strike of delivery partners, according to a regulatory filing by Zomato. Blinkit, formerly known as Grofers India, was acquired last year by Zomato. Recently the operations of the platform were affected by the strike of delivery partners who were [...]

Billionaire Gautam Adani's Adani Ports and Special Economic Zone Limited (APSEZ) on Wednesday said its board will meet on Saturday to consider first and a partial buyback of certain of its debt securities, either denominated in rupee or US dollar in the current financial year. "... a meeting of the Board of Directors of Adani [...]

Tata Group has sought fair-trade regulator Competition Commission of India's (CCI) approval on the deal to merge its full-service carriers Vistara and Air India. Tata SIA Airlines Ltd (TSAL) is a joint venture between Tata Sons Pvt Ltd (TSPL) and Singapore Airlines (SIA), with Tata Sons and SIA having 51 per cent and 49 per [...]

HDFC Capital Advisors will increase its stake in proptech startup Loyalie IT Solutions (now renamed as Reloy) to up to 9.6 per cent from 7.2 per cent currently, amid surge in adoption of technologies in Indian real estate market. According to a regulatory filing on Wednesday, HDFC Capital Advisors will acquire 1.67 lakh compulsory convertible [...]

Private sector lender IndusInd Bank on Wednesday said it has entered into a USD 100 million long-term loan agreement with JBIC to facilitate Indian entities interested in buying Japanese construction equipment. The finance is being done through a special agreement signed with Japan Bank for International Cooperation (JBIC) by the lender's branch in the Gift [...]

Zydus Lifesciences Ltd on Wednesday said it has received final approval from the US health regulator to manufacture and market its generic Roflumilast tablets used in reducing inflammation in the lungs. The approval granted by the United States Food and Drug Administration (USFDA) is for manufacturing and marketing of Roflumilast tablets of strength 250 mcg, [...]

Cube Highways Trust (CHT) has raised USD 630 million from a clutch of investors including British Columbia Investment Management Corporation (BCI) and Abu Dhabi's sovereign investor Mubadala Investment Company (Mubadala). Cube Highways Fund Advisors Private Limited, the Investment Manager to InvIT, in a statement announced the listing of its fully subscribed privately placed ordinary units [...]

AU Small Finance Bank on Wednesday said it has received permission from Reserve Bank of India to deal in foreign exchange. Reserve Bank of India vide its letter dated April 19, 2023 has granted Licence to act as Authorized Dealer Category-I (AD-I) under section 10 of FEMA, 1999 to deal in foreign exchange, AU Small [...]

Finolex Cables, a leading manufacturer of electrical and telecommunication cables, on Wednesday announced a Rs 200-crore capex to expand its manufacturing capacity this fiscal. The Pune-based company said the Rs 200-crore capex will be deployed over the next few months to enhance the manufacturing capabilities at its Urse plant near Pune. The plant serves the [...]

Drug maker Mankind Pharma on Wednesday said it has fixed a price band of Rs 1,026-1,080 a share for its Rs 4,326-crore initial public offering (IPO). The three-day initial public offering (IPO) will open for subscription during April 25-27, and the bidding for anchor investors will open on April 24, the company announced. The company's [...]

Adani Green Energy Ltd (AGEL) on Wednesday said it has received a recognition for conserving water against consumption. "AGEL has been certified Water Positive by DNV, an independent global assurance agency. The verification statement signifies that AGEL's water conservation is greater than consumption," a company statement said. DNV conducted qualitative and quantitative assessment of water [...]

Government-owned steel companies have cleared Rs 7,673.95 crore dues of various MSMEs during FY23, 39.3 per cent higher than Rs 5,511.07 crore paid during the preceding fiscal, the steel ministry said. "The status of pending payments to MSMEs by CPSEs (Central Public Sector Enterprises) of the ministry is being monitored on a weekly basis to [...]

RattanIndia Enterprises on Tuesday launched a wholly-owned subsidiary Neobrands, marking its entry into the fast-growing apparel fashion business. Neobrands will be a house of brands across multiple fashion categories, including everyday fashion, denim, athleisure and performance wear categories, a statement from RattanIndia Enterprises said. In the first phase, all these brands will be digital native [...]

Bay Capital Investment Advisors, an India-focused investment manager, is expecting to garner Rs 5,000 crore in AUM from its maiden equity, long-only, category III open-ended AIF, over the next five years. The fund would seek to generate long-term capital appreciation by investing in a diversified portfolio of up to 30 businesses across consumption, digitization, financialization, [...]

The board of the country's biggest lender State Bank of India (SBI) on Tuesday said it proposes to raise USD 2 billion (about Rs 16,000 crore) from bonds to fund its global operations. The board of the bank on Tuesday approved the proposal to raise fund in "single or multiple tranches up to USD 2 [...]

The board of state-owned Bank of India (BoI) on Tuesday approved plans to raise Rs 6,500 crore from various means, including share sale, to fund business growth in 2023-24. The proposal in this regard was cleared by the board in a meeting held on Tuesday, BoI said in a regulatory filing. The board considered and [...]

French cosmetic major L'Oreal on Tuesday announced a strategic investment in DSG Consumer Partners IV, the fourth fund of Singapore-based venture capital DSGCP, without disclosing the amount. DSG Consumer is focused on growing consumer brand startups across Southeast Asia and India. "Through this investment, L'Oreal will support early-stage entrepreneurs building the next generation of insurgent [...]

The Karnataka High Court has quashed the order of the National Company Law Tribunal (NCLT) that had passed an order allowing the operations of windmills on forest land in the state to a Mumbai-based company. The HC said the tribunal did not have jurisdiction over the matter of setting aside a government order. "The company [...]

Entertainment OTT player Netflix has slashed subscription rates in 116 countries following the success of its business model in India, the company said on Wednesday. Netflix has seen a 30 per cent growth in customer engagement and 24 per cent revenue growth year-on-year in India after it launched a low-priced subscription plan in the country [...]

Popular ice cream brand Baskin Robbins, operated by the Graviss Group, has planned to open about four to six parlours in the city every year and another 100 stores across the country this year, a top official said on Tuesday. The company currently has 16 parlours in Chennai. Witnessing a strong demand, the company has [...]

Co-working operator Awfis has taken on lease 1.74 lakh square feet of office space in Pune from realty firm Nyati Group amid rising demand for flexible workspace from corporates. In a statement, Awfis said it has entered into a strategic leasing partnership with realty firm Nyati Group to open new facilities in Pune. Through this [...]

Public sector Indian Bank has signed a memorandum of understanding with the Tamil Nadu e-Governance Agency, the city-headquartered bank said on Tuesday. The agreement is to integrate the Indian Bank Payment Aggregator platform with the e-Governance Applications of various departments in Tamil Nadu. "With this MoU, all government departments can avail plug and play platform [...]

The Singapore Exchange on Tuesday said NSE IFSC-SGX Connect at International Financial Service Center in GIFT City will become operational on July 3 after the transition of SGX Nifty derivatives to NSE IFSC. The move will enable investors to trade in dollar-denominated Nifty futures contracts available on the SGX in Gujarat International Finance Tec-City or [...]

Dubai-based aerial work platform rental firm Manlift Group has planned an additional investment of up to 25 million euros in India as it is eying massive expansion in the country over the next five years. Manlift India has been operational since 2010 and has already invested up to 70 million euros in the country by [...]

Jindal Stainless Ltd on Tuesday said it supplied 300 metric tonnes of stainless steel for 125-ft tall statue of B R Ambedkar in Telangana. On April 14, Telangana Chief Minister K Chandrasekhar Rao unveiled the 125-ft tall statue of Babasaheb in Hyderabad on the occasion of his 132nd birth anniversary. In a statement, the steel [...]

Diversified contract manufacturing company Aequs has secured USD 27.5 million (about Rs 225.50 crore) in funds from Amicus Capital and existing investors, a release said on Tuesday. Aequs said it plans to deploy the capital from the fundraise led by Amicus in ramping up its manufacturing capabilities to cater to both domestic and multinational OEM [...]

Social media platform Twitter will allow freedom of speech but not "freedom of reach" as it will restrict visibility of tweets that violate its rules, the company said in its policy update. Twitter will initially apply the visibility filter on tweets that are found violating hateful conduct rules and expand it to other domains later. [...]

The Mumbai-bench of National Company Law Tribunal (NCLT) has extended the deadline for completing the resolution process of Reliance Capital by three months to July 16 as lenders have agreed to hold a second round of auction to maximise their recovery. The earlier deadline of April 16 has already ended. The 90 days deadline extension [...]

Co-working major WeWork India has taken on lease 92,000 square feet office space in Pune from Panchshil Realty to expand its business. In a statement, WeWork India said it has signed a lease agreement for a new building 'Eleven West' in Pune. Located in Baner, the workspace spans over 92,000 square feet and marks WeWork [...]

The initial share sale of drug maker Mankind Pharma will open for public subscription on April 25. The three-day initial public offering (IPO) will conclude on April 27, and the bidding for anchor investors will open on April 24, according to the red herring prospectus (RHP). The company's IPO is entirely an offer for sale [...]

Indian Hotels Company Limited on Tuesday announced the signing of two new hotels in Dhaka, Bangladesh. The Taj and Vivanta branded hotels will be part of an integrated complex that will also include hi-end retail. These are greenfield projects. Puneet Chhatwal, Managing Director and Chief Executive Officer, IHCL said, "We are delighted to debut in [...]

Sterling and Wilson Pvt Ltd has bagged three rural electrification orders worth Rs 1,080 crore. While one order is from Chhattisgarh State Power Distribution Company Ltd (CSPDCL) in Rajnandgaon district, Chhattisgarh, two others are from South Bihar Power Distribution Company Ltd (SBPDCL) in Nalanda (also covering districts in Nawada) and Gaya. The projects, aimed at [...]

Beverage major Coca-Cola India Ltd has acquired a minority 15 per cent stake in Hashtag Loyalty, which owns the food ordering platform Thrive. This move will help Coca-Cola to get benefitted from Thrive, which has a partnership with over 12,000 restaurants across India. Hashtag Loyalty is an associate of the country's leading QSR chain operator [...]

State-owned Bank of Maharashtra (BoM) on Monday announced increase in the marginal cost of funds based lending rates (MCLR) by 10 basis points across tenors. The revision in MCLR is effective from April 15, 2023. The benchmark one-year MCLR is up by 10 basis points to 8.50 per cent, it said. The one-year rate is [...]

Two individuals on Monday offloaded shares in NBFC company Poonawalla Fincorp Ltd for Rs 290 crore through open market transactions. The two individuals are Sanjay Chamria and Mayank Poddar, who were the co-founders of Magma Fincorp Ltd (now known as Poonawalla Fincorp Ltd). According to the block deal data available with the National Stock Exchange [...]

The Competition Commission of India (CCI) on Monday said it has cleared the stake acquisition in VVDN Technologies by IBEF-IV under the green channel route. India Business Excellence Fund - IV (IBEF-IV) is a Sebi-registered alternative investment fund (AIF). The proposed combination relates to the acquisition of shareholding by the IBEF-IV through a combination of [...]

Two and three-wheeler maker TVS Motors on Monday announced the launch of the TVS NTORQ 125 Race Edition at the Makina Auto Show in Philippines. The vehicle comes with TVS SmartXonnect TM that lets the rider connect their smartphone to the scooter, unlocking a host of smart connected features. These can be accessed through an [...]

Godrej Capital, the financial services arm of the Godrej Group, is looking at a loan book of Rs 12,000 crore this fiscal, up from Rs 5,500 crore in the just-concluded fiscal. The company, among the youngest NBFCs, began operations only in late 2020 as a housing finance firm, primarily to serve the group's realty arm [...]

Union power minister R K Singh on Monday inaugurated POWERGRID Vishram Sadan, which would provide boarding and lodging facility to attendants of patients getting treatment in the premises of SSG Hospital in Vadodara. "POWERGRID Vishram Sadan was inaugurated through video conference by R K Singh, Union Minister for Power, New and Renewable Energy," a statement [...]

PwC India on Monday said it is investing more than Rs 600 crore over the next 3 years towards holistic learning and development of its employees and across different wellbeing initiatives. The past three years have had a dramatic effect on people, and as a result, individuals are now reassessing what they want to do [...]

ArcelorMittal India on Monday said a resolution plan submitted for Indian Steel Corporation by its arm AM Mining India has been approved by the NCLT, Mumbai. In a statement, ArcelorMittal India Pvt Ltd said it "welcomes National Company Law Tribunal (NCLT) order on Indian Steel Corporation Ltd (ISC)". It looks forward to implementing the recently [...]

Fabindia Ltd, a retailer of artisan products and lifestyle items, on Monday announced the appointment of Rajeshwari Srinivasan as its Chief Executive Officer. Srinivasan, whose appointment is effective from this month, was previously working with Tata Group. She succeeds Viney Singh, who has decided to retire from the post after serving for seven years as [...]

Tata Power Delhi Distribution has inked a pact with NTPC Vidyut Vyapar Nigam to get 200MW hydro power supply for meeting its projected peak demand for the next five years during the summer months, from May to September. Tata Power Delhi Distribution Ltd (Tata Power DDL) supplies electricity to over seven million populace in North [...]

Adani Group and French company TotalEnergies' newly built Rs 6,000 crore facility to import LNG at Dhamra on the Odisha coast will start commercial operations at the end of May, the French firm said on Monday. The 5 million tonne a year capacity terminal received its first ever shipment of liquefied natural gas - a [...]

The Directorate General of Trade Remedies (DGTR), under the commerce ministry, is planning to hire an agency to design, develop, implement and maintain a web application for it. The directorate is an integrated single window system for providing comprehensive and swift trade defence mechanisms to industry in India. It has floated a Request for Proposal [...]

Commercial vehicle maker Ashok Leyland on Monday said it has received an order of 1,560 trucks from VRL Logistics Limited (VRL). This order is for AVTR 3120 and AVTR 4420 TT models of trucks, which have all the advanced features to bring more efficiency and profitability to VRL's expanding fleet, the company said. The company, [...]

Moody's Investors Service on Monday said higher interest rates have increased repayment amounts and limited refinancing options for SME borrowers who have availed loans against property, heightening default risk for these loans. "Even if the RBI were to keep rates on hold from here, the repayment amounts will weigh on SME borrowers' capacities to repay [...]

Public sector banks (PSBs) have set a target for the sale of flagship government insurance schemes Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY) in FY24. Besides, they have also set goals for other financial inclusion schemes like Mudra Yojana and StandUp India Scheme. There are about 8.3 crore [...]

The country's largest IT services company TCS will continue investing in research and innovation, office spaces and technology infrastructure at the same pace even as it wades through near-term volatilities, a senior official has said. The company's promise to continue with the normal wage hikes will hit the operating profit margins by a further 1.70-1.75 [...]

To facilitate a seamless entry process for vehicles into the forest area, Indian Highways Management Company Limited (IHMCL) has inked a pact with the Nagarjunasagar-Srisailam Tiger Reserve spread across Andhra Pradesh and Telangana, according to an official statement. IHMCL is a company incorporated by the National Highways Authority of India (NHAI) to carry out electronic [...]

Global investment firm Blackstone-sponsored Nexus Select Trust is likely to launch India's first retail REIT public offer in early May to raise up to Rs 4,000 crore. In November last year, Nexus Select Trust filed the draft red herring prospectus (DRHP) with market regulator Sebi to launch its retail REIT (Real Estate Investment Trust). Nexus [...]

There is no freeze on the disinvestment process of RINL, the Steel Ministry clarified on Friday. Clarifying some media reports regarding the hold on the disinvestment process of the state-owned steel maker, the ministry, in a statement, said that the disinvestment process of RINL is in progress. "There is no freeze on the disinvestment process [...]

Power trading solutions provider PTC India has appointed three retired officers of the Indian Administrative Service (IAS) as independent directors of the company. The company has also appointed Mahendra Kumar Gupta as a nominee director of NHPC. In a statement, PTC India informed about the appointments of Rashmi Verma, Jayant Dasgupta and Narendra Kumar as [...]

Zee Music Company, a division of media firm Zee Entertainment Enterprises Ltd (ZEEL), on Friday announced the renewal of its licensing agreement with YouTube and Meta, earlier known as Facebook. The deal with two of the world's largest digital content-streaming companies will allow them to access music content from Zee Music's catalogue of over 11,000 [...]

Growing awareness about mutual funds and the ease of transactions through digital push led Nippon India Mutual Fund's investor accounts to surge to nearly 2 crore at the end of the financial year 2022-23, making it the largest fund house in terms of folio count, its CEO Sundeep Sikka said. The fund house has seen [...]

The NCLT has granted Future Retail Ltd (FRL) an extension of 90 days for concluding the Corporate Insolvency Resolution Process (CIRP) of the company. Allowing FRL's plea the Mumbai bench of the National Company Law Tribunal (NCLT) has extended the deadline to July 15, 2023, for concluding the CIRP of FRL. "... NCLT on April [...]

Tata Motors on Friday said it will increase prices of its passenger vehicles from May 1 to partially offset increase in input costs. The weighted average increase will be 0.6 per cent, depending on the variant and model, Tata Motors said in a statement. This will be the second price hike by the company for [...]

Akshata Murty, the wife of Britain's Prime Minister Rishi Sunak, stands to earn Rs 68.17 crore in dividend income from her shareholding in India's second-largest IT firm Infosys. Murty, daughter of Infosys co-founder Narayana Murthy, held 3.89 crore shares of Infosys at the end of December, according to company filings with the stock exchanges. Infosys [...]

Leading broadcaster Viacom18 on Thursday said it has completed the transaction for strategic partnership with Reliance, Bodhi Tree Systems and Paramount Global. Following the approval of the scheme of merger of Reliance Storage Ltd with Viacom18 by the Mumbai bench of the National Company Law Tribunal, the broadcaster has allotted shares to Bodhi Tree Systems [...]

The Securities Appellate Tribunal (SAT) has slashed the penalty imposed on the former MD of Maars Software International to Rs 10 lakh from Rs 1 crore in a case related to manipulation in the issuance of global depository receipts. Maars Software International Ltd (MSIL) came out with a global depository receipts (GDRs) issue on August [...]

The committee of directors of mining giant Vedanta Ltd has approved a proposal to raise up to Rs 2,100 crore by issuing non-convertible debentures (NCDs). The proposal was approved on Thursday during a meeting of its Committee of Directors, Vedanta Ltd said in a regulatory filing. "Committee of Directors... on April 13, 2023, considered and [...]

State-owned power giant NTPC's arm NTPC Green Energy Ltd (NGEL) is planning to raise funds through an initial public offering this fiscal, according to a source. NGEL is a fully-owned subsidiary of NTPC. Earlier, it had planned to sell 20 per cent of the NTPC's stake in NGEL to a strategic investor for Rs 3,000 [...]

The Central government will focus on strengthening the Vizag Steel Plant (VSP) for the moment rather than privatising it, Union Minister of State for Steel, Faggan Singh Kulaste said here on Thursday. He made this announcement on the sidelines of handing over appointment letters under Rozgar Mela. "As on date, we don’t have any plan [...]

Air India will start TaxiBot operations for its A320 aircraft fleet at Delhi and Bengaluru airports, a move that has the potential to save up to 15,000 tonnes of jet fuel over three years. The airline has entered into an agreement with KSU Aviation to launch the TaxiBot operations, according to a statement on Thursday. [...]

KPI Group has partnered with UAE-based Tristar Transport LLC to develop eco-friendly energy solutions across multiple regions, including the Middle East, Africa, Asia Pacific, America and Europe. The agreement involves the utilisation of the respective expertise of both parties to identify and execute renewable energy projects, such as wind, solar, green hydrogen and green ammonia [...]

Smartphone maker vivo on Thursday said it will invest Rs 1,100 crore more by the end of 2023 to scale up its manufacturing capacity in the country, and that production in its upcoming unit at Greater Noida is expected to commence by early 2024. vivo India also said it is "on track" to export more [...]

The Mangalore Catholic Cooperative (MCC) Bank, one of the pioneers of cooperative banks in Karnataka, has recorded a pre-tax profit of Rs 12.20 crore in the 2022-23 financial year. The 111-year-old bank has been progressively reducing the non-performing assets (NPA) and for the first time in recent years, reduced the level to 1.37 per cent, [...]

State-owned Indian Oil Corporation (IOC), Adani-Total Gas Ltd and Shell were among the 29 companies that bid and bought natural gas to be produced from the deepest field in the KG-D6 block of Reliance Industries Ltd and bp, sources said. IOC walked away with almost half of the 6 million standard cubic meters per day [...]

Realty firm Hiranandani Communities will invest Rs 1,000 crore to develop a new housing project in Mumbai to tap rising demand. The company has launched a new housing project -- 'Golden Willow' -- in its mixed-use integrated township 'Hiranandani Fortune City' at Panvel. The company plans to develop 1 million square feet of residential space in [...]