Page 14 - Companies

Markets regulator Sebi proposes framework to regulate ESG rating providers

Sebi has proposed that Credit Rating Agencies and research analysts with a minimum net worth of Rs 10 crore would be eligible to be accredited as a ESG Rating Provider

Shriram Transport Finance Q3 net down 6.47% to Rs 680.62 crore

Non-bank financing company Shriram Transport Finance Company (STFC) on Monday reported a 6.47 per cent decline in standalone profit after tax at Rs 680.62 crore in the quarter ended December 2021

Advent buys controlling stake in deal valuing Avra Labs at $100 million

Global private equity fund Advent International said it will be acquiring a controlling stake in pharma sector-focused Avra Laboratories

Quick Heal net profit grows 6% to Rs 14 crore in December quarter

Security software provider Quick Heal Technologies on Monday said its consolidated net profit grew 6.1 per cent to Rs 14.3 crore in December quarter 2021. The company had posted a net profit of Rs 13.5 crore in the year-ago period, Quick Heal said in a regulatory filing. Total revenue rose 13.9 per cent to Rs 79.6 crore in the quarter under review, from Rs 69.9 crore in the year-ago period, it added. We delivered a robust third quarter in terms of revenue, subscribers, profitability and cash flow which is a testament to our team's strong execution. Our continued commitment to secure our customers' ever-increasing online footprint helped us add 818,000 new subscribers," Managing Director and CEO Kailash Katkar said. He added that the growth in enterprise segment has been promising and the company expects the momentum to continue in the coming quarters. "In line with our strategy to boost market share, we continue to invest in R&D and strengthen leadership team that will enable us .

Cera Sanitaryware Q3 consolidated net profit up 46% at Rs 45 crore

The company had logged a net profit of Rs 30.68 crore in the year-ago period

Engineering exports up 54% to $82 bn in Apr-Dec: Commerce ministry

India's top five export destinations for engineering goods include the US, China, the UAE, Italy and Germany

Q3 report card: Mid-cap IT services companies outdo large peers

These players also have managed the supply-side constraints

Devas Multimedia shareholders to continue seizing Indian assets abroad

Unfazed by the Supreme Court upholding winding up of the company, shareholders of Devas Multimedia will continue to seek seizure of Indian government assets abroad to collect USD 1.2 billion the firm has been awarded by arbitration tribunals for cancellation of a satellite deal but are open for talks to settle the issue, their counsel said. "The decision by the Supreme Court does not change anything. The Modi government and the Indian courts cannot rewrite the facts. Their flimsy allegations of fraud will never stand up in courts outside of India," said Matthew D McGill, partner at Gibson, Dunn & Crutcher, and lead counsel for several Devas' shareholders. "A better approach for the Modi government would be to return to the negotiating table, and continue with settlement talks." Devas shareholders are pursuing Indian assets abroad to recover the awards and have got a French court order for freezing Indian properties in Paris and got partial rights over funds maintained by India ...

Sebi asks PFS to file action taken report on governance within four weeks

CARE Ratings monitoring developments at PFS

Reliance Industries may reverse feeble stock showing on strong outlook

Major rerating, however, will depend on multiple triggers playing out

HDFC Capital raises nearly $1.8 bn fund for affordable housing financing

HDFC Capital, a wholly-owned subsidiary of HDFC Ltd, has achieved the initial close of its third fund of $1.88 billion (about Rs 13,500 cr) focused on affordable housing.

Market cap of 10 most valued companies erodes by over Rs 2.53 trn

The top-10 most valued companies suffered a combined erosion of Rs 2.53 lakh crore in market valuation last week, as the domestic equity benchmarks witnessed heavy selling

Tata Motors expects growth momentum to continue, to ramp up production

Tata Motors expects its growth momentum to continue this year as well as anticipates supply side issues to improve, helping it roll out more units to cater to the enhanced demand

Tech giant Google lands in trouble over 'Deceptive' Pixel 4 radio ads

Tech giant Google has reportedly landed in legal trouble over 'Deceptive' Pixel 4 radio advertising.

Facebook declined to spin-off its Workplace app as $1 bn unicorn

Facebook (before it was rebrandeded as Meta) was approached by venture capitalists to spin off its Workplace app and make it a new company valued at over $1 billion. But Facebook declined.

Germany's Lufthansa to buy 40% stake in Alitalia's successor ITA: Report

Germany's Lufthansa is set to buy a 40% stake in state-owned Alitalia's successor ITA Airways and a deal could be unveiled next week

CEO Parag Agrawal shakes up Twitter security team; 2 senior execs leave

Staff changes follow 'assessment of how the organization was being led,' according to a memo from the new CEO.

Sony seeks partners to transform cars into 'entertainment spaces'

Sony CEO Kenichiro Yoshida suggested for the first time that the creator of PlayStation games consoles will try to turn an EV development project started two years ago into a money-making venture

Pandemic darlings face the boot as investors eye return to normal life

The selloff which began after Netflix and Peloton posted disappointing quarterly earnings spread to the wider stay-at-home sector

For $100 billion, Intel looks to construct biggest chip plant

The move is part of Chief Executive Officer Pat Gelsinger's strategy to restore Intel's dominance in chip making