Page 15 - Companies

Adani Wilmar fixes IPO price band at Rs 218-230 per share

The public issue of Adani Wilmar comprises fresh issue of equity shares and there will not be any secondary offering

Jio Platforms net profit rises 8.8% to Rs 3,795 crore in Dec quarter

The company had posted a net profit of Rs 3,486 crore in the same period a year ago

Reliance Retail Q3 pre-tax profit up 24% to Rs 3,822 cr; revenue rises 53%

Its revenue from operations stood at Rs 50,654 crore, up 53.41 per cent from Rs 33,018 crore in the corresponding period of last fiscal

L&T Finance Holdings' net profit rises 12% to Rs 326 cr in Dec quarter

L&T Finance Holdings on Friday reported a 12 per cent increase in its net profit to Rs 326 crore for the quarter ended December 2021. The non-banking finance company (NBFC) had registered a net profit of Rs 291 crore in the year-ago period. In a statement, the company said it witnessed strong improvement in disbursements and collections in Q3FY22, and witnessed an all-time high retail quarterly disbursements of about Rs 7,600 crore, up by 29 per cent from a year ago. Total income during the October-December 2021 period, however, was down at Rs 3,099 crore, as against Rs 3,504 crore in Q3FY21. "The period saw businesses returning to pre-COVID-19 levels despite industry de-growth during the festive season. "In our retail businesses of farm and two-wheeler finance, we maintained business momentum as a leading retail financier with a stable market share, owing to our digital and data analytics capabilities," Dinanath Dubhashi, managing director and CEO of L&T Finance Holdings, ...

CCI approves deal involving three GlaxoSmithKline group entities

The proposed deal involves the transfer of GlaxoSmithKline Asia Pvt Ltd's products and GSK Consumer Brands (indirectly) to GSK CH HoldCo

RattanIndia Power consolidated net loss widens to Rs 386.69 cr in Dec qtr

RattanIndia Power Ltd (RPL) consolidated net loss widened to Rs 386.69 crore in the December quarter, compared to the same period a year ago, due non-operation of Nashik thermal power plant. The company had reported a consolidated net loss of Rs 69.09 crore in the quarter ended on December 31, 2020, the company said in a regulatory filing. The widening of the consolidated loss in the December quarter was "due to non-operation of Nashik Thermal Power Plant (Sinnar Thermal Power Ltd). That exposure has no bearing on parent RattanIndia Power Ltd," a company spokesperson said. The consolidated results of RPL also includes the financials of Sinnar Thermal Power Limited (STPL), which is a subsidiary of RattanIndia Power Ltd and is a separate SPV holding Sinnar Thermal Power Plant, the spokesperson said. All units of Sinnar Thermal Power Plant at Nashik are commissioned, but not operational at present. STPL's debt exposure is ring fenced and has no bearing on the parent RattanIndia Power

Future Retail 'not in position' to make $471 mn payment as deadline nears

Future Retail Ltd. isn't in a position to make a payment on 35 billion rupees ($471 million) of past-due debt before the grace period expires

Adani Wilmar sets IPO price band at Rs 218-230 rupees, to open on Jan 27

Adani Wilmar has set the indicative price band for its initial public offering (IPO) of shares at between 218 rupees and 230 rupees apiece

Singtel buys minority stake in Indonesian bank for about $35 mn

Singapore Telecommunications, Southeast Asia's largest telecommunications operator, said it has bought a 16.3% stake in PT Bank Fama International for 500 billion rupiah ($34.9 million)

China Evergrande says hiring more advisers to help deal with debt

China Evergrande Group said on Friday that it was hiring more financial and legal advisers to help it with demands from creditors

Container Corporation of India Dec-quarter net rises 24% to Rs 276 cr

The company had clocked a net profit of Rs 225.66 crore in the corresponding quarter a year ago

PTC India Financial Services plummets 18% after three directors resign

On BSE, shares ended the day at Rs 20.95 apiece, down 18.32 per cent over previous close

Twitter loses appeal in French case over online hate speech

The decision provides ammunition to campaigners elsewhere in Europe who want tougher controls to prevent the spread of racist and discriminatory content

Havells net profit down 12.7% to Rs 305.82 crore in third quarter

The company had posted a consolidated net profit of Rs 350.14 crore in the October-December quarter a year ago

WNS Holdings net profit rises 10.6% to $34.3 million in third quarter

Despite the ongoing pandemic-related volatility and pressure associated with tight global labour markets, WNS continues to perform well and deliver solid financial results, a company official said

Emcure Pharma's Rs 5,000-crore IPO to hit market early next month

Emcure Pharmaceuticals has received regulatory approvals for its draft red herring prospectus and will shortly be filing the RHP for the Rs 5,000-crore initial share sale, which will hit the market soon after the Budget, according to merchant banking sources. The IPO consists of a fresh issue of up to Rs 1,100 crore by the company, which will be used as growth capital, and an offer for sale by promoter shareholders -- founder, managing director & chief executive Satish Mehta who owns 41.92 per cent and by son Sunil Mehta who holds 6.13 per cent. Other promoter groups/persons who are participating in the OFS collectively own 33.55 per cent, and global private equity major Bain Capital owns 13.09 per cent in the Pune-headquartered pharma major which is the 12th largest player in the country. The sources, however, did not disclose how much each of the selling promoters will be offloading through the OFS. The company will utilize Rs 947 crore from the proceeds of the issue to ...

A measure of the economy: companies, capex and a hint of concern

When demand is uncertain; the biggest private enterprises seem better able to build factories, expand resources and create jobs.

Beauty care company Lotus Herbals acquires 25% stake in Conscious Chemist

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 development, Lotus Herbals Joint Managing Director Nitin Passi said the investment in Conscious Chemist aligns with the company's strategy for accelerating growth in the direct-to-consumer (DTC) space focusing on clean beauty. "The brand also resonates with our commitment to sustainability and environmentally friendly practices. We appreciate the vigour, exuberance and dynamism that Conscious Chemist brings and will provide them tangible access to Indian and global markets, technological and marketing mentorship that will help in propelling its growth over the next five years," he said. Conscious Chemist Co-Founder & CEO Robin Gupta said: "We are confident ...

Glenmark Pharma inks exclusive licensing agreement with Lotus International

Glenmark Pharmaceuticals Ltd on Thursday said its Swiss arm has entered into an exclusive licensing agreement with Lotus International Pte Ltd

United Airlines cuts capacity forecast, flags cost pressure amid Omicron

United Airlines Holdings trimmed its capacity forecast and warned of higher costs, after posting a smaller-than-expected fourth-quarter loss