Page 32 - Companies

Microsoft approached Pinterest in recent months over potential deal: Report

A deal between the two companies would also have tested the Biden administration's appetite for allowing powerful technology companies to strike deals

Incorporation of companies up 20% in FY21 despite pandemic: MCA

The number of new companies formed in the current financial year rose despite the pandemic

Bath fittings firm Watertec to set up plants in Gujarat, Odisha, Tamil Nadu

On the way forward, the company is targeting around Rs 1,400 crore in revenue, including 10 per cent from exports, by 2023-24. This translates to around 30 per cent growth

PayPal to shut shop in India from April 1, focus on global customers

PayPal was a payments options on many Indian online apps such as travel and ticketing service MakeMy Trip, online film booking app BookMyShow and food delivery app Swiggy

Samsung considers Austin for $17 bn chip plant, eyes tax breaks: Report

The tech giant is seeking combined tax abatements of $805.5 million over 20 years from Travis County and the city of Austin, among other tax breaks, according to the documents

Happiest Minds acquires Pimcore Global Services for $8.25 million

Happiest Minds Technologies Ltd will acquire US-based Pimcore Global Services for USD 8.25 million (about Rs 60 crore). Houston-based Pimcore Global Services is a digital e-commerce and data management solutions company. "Happiest Minds Technologies Ltd has concluded and signed definitive agreements to acquire 100 per cent ownership interest of PGS Inc (doing business as Pimcore Global Services) for a consideration of USD 8.25 million," Happiest Minds said in a regulatory filing late Friday night. The acquisition will further strengthen Happiest Minds' offerings and leadership in the digital transformation space, it added. It will also help create greater digital capital for customers and facilitate onboarding more customer logos of strategic consequence. The acquisition is subject to customary closing conditions and is expected to close in the quarter ended March 31, 2021. The filing noted that PGS has a strategic partnership with Pimcore Austria for delivering solutions around .

Localisation strategy for jobs would help address protectionism: Nilekani

He said the strategy for the companies is to be an active player in every market that they operate and have an articulation of partnership with that country and which reflects its priorities

Dr Reddy's posts Q3 profit of Rs 20 crore, revenues at Rs 4,930 crore

Dr Reddy's Laboratories on Friday reported a consolidated net profit of Rs 20 crore for the October to December quarter as against a consolidated net loss of Rs 570 crore in the year-ago period.Not accounting for impairment cost, the company's net profit in the quarter would have been at Rs 882 crore, it said.The company's consolidated revenues grew 12 per cent year-on-year to Rs 4,930 crore.There were significant changes to the market conditions for certain of the products fanning part of company's global generics and proprietary products segments, said the company."We continued with our growth momentum while maintaining EBITDA margins. We are progressing well on phase three clinical trials for Sputnik V vaccine in India," said Co-Chairman and Managing Director G V Prasad.The company's revenues in India increased by 26 per cent year-on-year to Rs 959 crore in Q3 FY21. In North America, the sales rose 9 per cent to Rs 1,739 crore.

Facebook earning in Q4 soar over pandemic, new challenges await in 2021

The Apple move drew a rare public rebuke from Facebook CEO Mark Zuckerberg, who during a conference call accused Apple of favoring its own interests and not those of users

The India Cements reports Q3 net profit at Rs 67.90 cr, revenue down 4.79%

The India Cements on Wednesday reported a consolidated net profit of Rs 67.90 crore for the third quarter ended December 2020. The company had posted a net loss of Rs 8.79 crore during the October-December quarter of the previous fiscal, The India Cements said in a regulatory filing. Its revenue from operations was down 4.79 per cent to Rs 1,184.68 crore during the quarter under review as against Rs 1,244.28 crore in the corresponding period of the previous fiscal. The India Cements' total expenses stood at Rs 1,093.05 crore in Q3/FY 2020-21, down 13.6 per cent as against Rs 1,265.13 crore. According to the company, the spread of COVID-19 has severely impacted businesses in India and abroad. In consequence of the lockdown, the operations of the company were shutdown during the last week of March 2020 and restarted in phases during April 2020. The pandemic situation has affected the normal business operations of the company and production, sales and profitability, inter alia, have

ByteDance says cutting India workforce, unsure of comeback: Report

The move came after India decided to retain its ban on TikTok and 58 other Chinese apps following responses from the companies on issues such as compliance and privacy

Registration of companies up despite Covid-19 pandemic, shows data

Also, 85 per cent fewer companies were closed in the year, compared to those in 2019.

Trusts and societies have till April 1 to register with MCA under CSR rules

CSR rules notified by MCA; multi-year projects allowed with a time-limit of three years

DCB Plus, partner settle case with Sebi; pay Rs 2.23 cr as charges

It was alleged that ECP III FVCI Pte Ltd had made delayed disclosures with respect to the acquisition of shares in Indostar Capital Finance.

IBM revenue dips as software sales mark rare decline over uncertain economy

Revenue from its cloud-computing business rose 10% to a record $7.5 billion in the fourth quarter

The gyroscope of corporate governance

Lessons from political governance are instructive even for corporations

Bajaj Finserv Q3 net profit up 15% at Rs 1,290 crore; income up 9%

It holds a little over of 52 per cent in the consumer finance giant Bajaj Finance, 74 per cent in Bajaj Allianz general insurance and Bajaj Allianz life insurance.

Management by algorithm? How businesses should work in the AI era

It is time we reimagined management education in a way that students build an understanding of AI, its usage and application in business, all the while honing their soft skills

Ill-informed: Snapdeal on USTR report placing it on Notorious Markets List

Snapdeal and four Indian shopping complexes have figured in the latest 2020 Review of Notorious Markets for Counterfeiting and Piracy issued by the Office of the US Trade Representative (USTR)

IT companies revenues to grow up to 9% in FY22 on tech demand: Icra

Demand for digital technologies and resumption of normal economic activities will drive sales for IT companies, and the sector will post a revenue growth of up to 9 per cent in 2021-22, a report said