Page 12 - Companies

India to be big market for electric vehicles: Nissan COO Ashwani Gupta

The Renault-Nissan-Mitsubishi automobile alliance on Thursday announced its 2030 global roadmap that focuses on pure electric vehicles (EVs)

It's a struggle to balance cost vs selling price: Prestige Estates MD

Prestige Estates Projects saw its sales bookings jump twofold to a record Rs 4,267.6 crore in the third quarter of financial year 2021-22 (Q3FY22)

Minor impact of new Covid-19 wave on sales, says Abhishek Lodha

Realty firm Macrotech Developers saw a "minor" impact on housing demand in the first two weeks of January this year due to surge in COVID cases and remains confident of meeting the Rs 9,000-crore sales bookings target for this fiscal, its MD & CEO Abhishek Lodha said. Macrotech Developers markets its properties under the Lodha brand. It is developing projects in the Mumbai region and Pune. In an interview with PTI, Abhishek Lodha said the company has increased prices by an average 4-5 per cent so far this fiscal. Continuing with its asset-light model, Lodha said the company has entered into 11 joint development agreements (JDAs), worth Rs 14,500 crore sales value potential, so far this fiscal and hopes to conclude more by March-end. When asked about the impact of new wave of the COVID infections, Lodha said: "There was a minor impact in the first two weeks of this months as there were restrictions on movement." However, he said the sentiments among homebuyers remains positive and

Uday Shankar, James Murdoch firm to pick up 39% stake in Viacom 18

Lupa India, the investment company set up by Uday Shankar and James Murdoch, is in the final stages of picking up a 39 per cent stake in Viacom 18

Tata group lone Indian brand in top 100: Brand Finance Global 500 report

RIL, Jio, Mahindra group, HDFC Bank all see dip in ranking

o9 Solutions' valuation crosses $2.7 billion after $295 million funding

o9 Solutions raises $295 mn funding from General Atlantic, others

Facebook's embattled crypto project may be coming to an end

The Diem Association, a cryptocurrency initiative once known as Libra backed by Meta Platforms, is weighing a sale of its assets

Adani Wilmar IPO opens on Thursday to raise up to Rs 3,600 crore

Edible oil major Adani Wilmar will on Thursday hit the capital market to raise up to Rs 3,600 crore through its Initial Public Offer (IPO). The proceeds of the public issue will be used to fund capital expenditure, reduce debt and for acquisitions as the company seeks to become India's biggest food and FMCG company. The public issue, comprising fresh equity shares, will open for subscription on January 27 and close on January 31. Price band is Rs 218-230 per share. Adani Wilmar, which sells cooking oils and some other food products under the Fortune brand, is a 50:50 joint venture between business conglomerate Adani group and Singapore-based Wilmar. On Tuesday, Adani Wilmar Ltd had raised Rs 940 crore from anchor investors. The company has decided to allocate around 4.09 crore equity shares to anchor investors at Rs 230 apiece. Investors can bid for a minimum of 65 equity shares and in multiples thereof. Half of the issue size has been reserved for qualified institutional buyers,

Essar sets up Vertex Hydrogen to help drive energy transition in the UK

Essar Oil UK holds 90 per cent stake in Vertex Hydrogen, while Progressive Energy Ltd has the remaining 10 per cent

Allcargo Logistics appoints V S Parthasarathy as vice-chairman

His role as the company's non-executive non-independent vice-chairman will be to guide, mentor and help drive its transformation along with subsidiaries ECU Worldwide and Gati Limited

Telcos seek spectrum allocation via auction only, satellite players oppose

Telecom players have demanded up to 95 per cent cut in reserve price for spectrum in mid-frequency range

Star-studded startup Socialswag gets IMEF on board for next stage of growth

Its promoters and founders include celebrities such as actors Akshay Kumar and Rana Daggubati as well as tennis ace Mahesh Bhupati among others

Torrent Pharma net profit drops 16% to Rs 249 crore in third quarter

The company's revenue from operations in the third quarter stood at Rs 2,108 crore as compared to Rs 1,995 crore in the same period of previous fiscal

HUL says India continues to be among top 3 priority markets for Unilever

Hindustan Unilever said India continues to be among the top three priority markets for its parent Unilever, which has announced an organisational restructuring

GE T&D India to sell global engineering biz to GEIIPL for Rs 140 crore

GE T&D India Ltd board has approved a proposal to sell its Global Engineering Operations Division (GEOD Business) to GE India Industrial Private Ltd (GEIIPL) via a slump sale for a cash consideration of Rs 140.6 crore. "The company has, in the meeting of its board of directors that was held on January 24, 2022, agreed to sell its Global Engineering Operations Division (India for Global) (GEOD Business) to GE India Industrial Private Ltd (GEIIPL) (a related party) together with the assets and manpower comprised therein along with its corresponding liabilities by way of a slump sale on an "as is where is" basis," a BSE filing said. The GEIIPL (the buyer) is a company incorporated under the Companies Act, 1956, and it is a part of the General Electric Group. As per the filing, the lump sum consideration for sale is Rs 140.6 crore and the Business Transfer Agreement is expected to be executed by January 31, 2022. The expected date of completion of sale is March 31, 2022, subject to .

Finolex Industries' net profit declines 30.5% to Rs 178 cr in Dec quarter

Finolex Industries reported a massive 30.5 per cent decline in net income to Rs 1,177.8 crore for the three months to December 2021 from Rs 255.9 crore a year ago

Indiabulls Real Estate reports Rs 87 crore loss in December quarter

Indiabulls Real Estate Ltd (IBREL) reported a consolidated net loss of Rs 87.21 crore for the quarter ended December.

Inox Wind Energy gets shareholders' nod to raise up to Rs 90 crore

Inox Wind Energy on Tuesday said it has got shareholders' approval to raise up to Rs 90 crore through issuance of 10.62 lakh convertible warrants. The approval was received at its Extraordinary General Meeting (EGM) on Tuesday. The convertible warrants will be issued at the rate of Rs 847 per unit, as per the notice for the EGM. The money will be used for meeting the funding requirements of the company, its subsidiaries' consolidated business operations and for general corporate purposes. On December 27, 2021, the company's board had approved a proposal to this effect. As per the proposal, the funds will be raised in one or more tranches, within a period of 18 months from the date of allotment of the warrants, aggregating to up to Rs 90 crore on preferential basis. According to the EGM notice, it was proposed to issue 8,26,446 warrants worth up to Rs 70 crore to Devansh Trademart LLP, part of the company's promoter group. Besides, the company will issue 2,36,128 warrants worth u

Adani Wilmar raises Rs 940 crore from anchor investors ahead of IPO

Adani Wilmar Ltd said it has garnered Rs 940 crore from anchor investors, days before its IPO roll-out

Max India reports Rs 5.7 crore consolidated net loss in December quarter

Total income rose to Rs 42.83 crore in the third quarter of this fiscal from Rs 34.20 crore in the corresponding period of the previous year