Page 17 - Companies

Govt clears 20 strategic projects under National Technical Textiles Mission

The projects were approved at a meeting chaired by Textiles Minister Piyush Goyal

MTaI seeks reduction in GST on medical devices, cold chain units

The organisation noted that the reduction of GST on medical devices and medical cold chain from 12 per cent to 5 per cent would lead to the expansion of the healthcare sector through reduced costs

UltraTech Cement shares jump nearly 3 pc after earnings announcement

The stock gained 2.78 per cent to settle at Rs 7,867.90 on BSE

Dhoot Transmission enters health, wellness space with Burge Electronics

Dhoot Transmission, which is among the largest manufacturers of wiring harnesses for two-wheelers, is diversifying into the health and wellness segment with a virus neutraliser that will help purify air in enclosed spaces. The Aurangabad-based company which lists Bajaj Auto, Honda Motorcycles & Scooters among others as it large clients, on Monday launched a slew of health and wellness products under the label of Burge Electronics, which in German means 'guarantor'. Burge will roll out its first product ozone-free air purifier, ion dome for neutralising viruses. Banking on its over two decades of know-how in product development, manufacturing and distribution, Burge Electronics aims to disrupt the health and wellness industry with safe, affordable, advanced and innovative solutions, Rahul Dhoot, Managing Director of Dhoot Transmission, said. Burge Electronics will soon launch its first product, ion Dome, a virus neutraliser approved and tested by the ICMR-recognised and ILAC ...

Agritech startup DeHaat acquires Helicrofter, to empower farmers

Agritech startup DeHaat on Monday said it has acquired Maharashtra-based B2B agri-input marketplace startup called Helicrofter, for an undisclosed sum

Metro Brands third quarter net profit jumps 54.6% to Rs 100.85 cr

Footwear retail chain Metro Brands has reported a 54.63 per cent jump in consolidated net profit to Rs 100.85 crore for the third quarter ended December 2021. The company had posted a net profit of Rs 65.22 crore during the October-December quarter of the previous fiscal, Metro Brands Ltd (MBL), earlier known as Metro Shoes, said in a regulatory filing. Its total revenue from operations was up 59.02 per cent at Rs 483.77 crore during the quarter under review against Rs 304.21 crore in the corresponding period of the previous fiscal. MBL's total expenses rose 47.26 per cent to Rs 362.59 crore in Q3 FY 2021-22, compared to Rs 246.21 crore in the year-ago period. MBL CEO Nissan Joseph said it was the best quarterly revenue, EBITDA and PAT in the history of the company. "We also are encouraged by the growth we have witnessed across the multiple Tiers of cities that we operate in and the continued growth of our e-commerce and omnichannel business," he added. As of December 31, 2021, M

Sequent Scientific names Rajaram Narayanan as MD, CEO for five years

Narayanan replaces Manish Gupta who has put in his papers

Vedanta group plans investments in mineral sector in Saudi Arabia

The company is already in discussions with stakeholders in Saudi Arabia

Jubilant FoodWorks board to consider share split proposal in February

Jubilant FoodWorks (JFL), a master franchise of brands such as Domino's and Dunkin' Donuts, on Friday said its board will next month consider a proposal of splitting the equity shares of the firm.

Housing finance co, 8 NBFCs surrender certificates of registration to RBI

The eight NBFCs too cannot carry out the business of non-banking financial institutions

Braithwaite & Co aims at Rs 2,500 crore revenue, IPO by FY26

State-run Braithwaite & Co Ltd is aiming at a four-fold increase in its revenue to Rs 2,500 crore and planning to hit the capital market with an Initial Public Offer by the 2025-26 fiscal, a top company official said on Thursday. The public sector undertaking has made a turnaround in the last three years and posted Rs 609 crore revenue in 2020-21, he said. The PSU company under the administrative control of the Ministry of Railways is expecting to touch Rs 700 crore topline in the current fiscal. We have already achieved Rs 488 crore revenue till the third quarter (October-December) of the current financial year and are on track to post Rs 700 crore turnover by March. We are confident to have a topline of Rs 2,500 crore by FY26, Braithwaite & Co Ltd chairman and managing director Yatish Kumar said. The company now has an order book of Rs 1,700 crore. "We will go for listing to raise money via IPO after achieving a revenue of Rs 2,500 crore and a healthy profit for better ...

Yara and Lantmaennen to launch 'fossil-free' fertilisers in Sweden

Norway's Yara and Sweden's Lantmaennen will next year introduce products that could eventually become the world's first fossil-free nitrogen fertilisers, the companies said

Chip firm TSMC Q4 profit rises 16.4% to a record, beats market forecasts

TSMC posted a 16.4% rise in quarterly profit to a record, thanks to robust global demand for semiconductors

PointOne Capital announces final close of its maiden Rs 50 crore fund

The fund has onboarded Silicon Valley and India-based entrepreneurs, CXOs and seasoned corporate, startup leaders and mid-sized family offices as its LPs

PGCIL inks pact with Africa50 for Kenya Transmission Project

Once completed, the project will be the first independent power transmission (IPT) in Kenya and will set a reference point in Africa

Precision Shipyard land to boost shipbuilding capability: Titagarh Wagons

The land and facility was acquired under an auction sale by Union Bank of India

Philips sees Q4 earning dipping 40% due to part shortage, ventilator recall

Philips on Wednesday said it expected fourth-quarter core profit to drop around 40% to about 650 million euros ($739.25 million)

ToolJet raises $1.5 mn in seed funding round led by Nexus Venture Partners

The company intends to use the funding for team expansion to accelerate the development of the core platform of ToolJet

Neobank Kaleidofin raises $10 million in series B round of funding

The latest fundraise takes the total funds raised by Kaleidofin till date to $18 million

Apple iPads with 15-inch OLED display likely not possible till 2024

Future Apple iPads that are likely to sport up to 15-inch OLED displays might not be possible till 2024.