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Wednesday, May 18, 2022
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Elon Musk secures over $7 billion funding from investors including Oracle Corp co-founder Larry Ellison

May 5, 2022 5:34:06 pm

Musk's $21 billion financing commitment was also revised to $27.25 billion.

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Google appoints former NITI Aayog, CCI official as India public policy chief

May 5, 2022 4:04:15 am

Gulati was Joint Secretary, Digital Communications at NITI Aayog from August 2019 to April 2021, prior to which she served as an Officer on Special Duty with the Secretary of Telecom for more than two years.

Adani Wilmar buys Kohinoor, adani wilmar kohinoor

Adani Wilmar buys several brands, including ‘Kohinoor’ to strengthen food business

May 3, 2022 4:53:25 pm

The acquisition would give AWL exclusive rights over the brand 'Kohinoor' basmati rice along with 'Ready to Cook', 'Ready to Eat' curries and meals portfolio under the Kohinoor brand umbrella in India, the company said in a statement.

Mahindra & Mahindra

Mahindra sales jumps 25% to 45,640 units in April

May 2, 2022 1:03:31 pm

The Mumbai-based auto major's passenger vehicle sales in the domestic market rose by 23 per cent to 22,526 units last month against 18,285 in April last year, the auto major said in a statement.

bajaj auto, bajaj auto news

Bajaj Auto sales slip 20% to 3,10,774 units in April

May 2, 2022 12:45:47 pm

Exports were also down 18 per cent last month at 2,08,597 units compared to 2,53,545 units in the year-ago period.

Can see several large, good groups are going to invest now: Ajay Piramal

May 2, 2022 3:43:51 pm

'Investments were set to happen, but then the two years of Covid, and the uncertainty after that hit and everyone stopped. If you look at the capacities of most good companies, their capacity utilisations are good and they have done well inspite of Covid.'

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ED seizes Rs 5,500 cr in Xiaomi assets over ‘illegal’ remittances

May 1, 2022 9:07:33 am

Earlier this month, ED had questioned Manu Kumar Jain, Xiaomi’s global vice-president, in connection with alleged illegal remittances made by the company.

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Ahead of LIC IPO, Irdai allows insurers to invest more in BFSI

April 30, 2022 9:27:11 am

LIC on Wednesday priced its initial public offering (IPO) in the range of Rs 902-949 per share. LIC IPO will open on May 4 and will close on May 9. 

Shell agrees to buy India’s Sprng Energy for $1.55 billion

April 29, 2022 6:12:17 pm

The deal will triple Shell’s operational renewables capacity and help it achieve net-zero carbon emissions by 2050, the company said in a statement on Friday.

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Support plan for chip companies: Import curbs, local sourcing for electronics

April 29, 2022 3:51:28 am

“Apart from offering financial incentives to companies to set up semiconductor fabs in the country, we could potentially encourage that products made in India will have to use semiconductors made here,” the official said.

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Govt launches antitrust raids on Amazon sellers Cloudtail, Appario: Report

April 28, 2022 1:32:50 pm

Indian retailers, a key part of Prime Minister Narendra Modi's support base, have long contended that Amazon's platform largely benefits a few big sellers, with the firm engaging in predatory pricing that harms their businesses.

Four European gas buyers made ruble payments to Russia: Report

April 28, 2022 1:42:02 pm

Ten European companies have already opened the accounts at Gazprombank needed to meet Russia’s payment demands

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Hindustan Unilever Q4 net rises 8.5%

April 28, 2022 4:09:15 am

‘In challenging circumstances, we have grown competitively and protected our business model by maintaining margins in a healthy range. I am also pleased that we have become a Rs 50,000 crore turnover company in this fiscal,” CEO & MD Sanjiv Mehta said.

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Murdoch-Shankar platform leads Rs 13,500-cr funding in Viacom18

April 28, 2022 3:33:14 am

RIL subsidiary Reliance Projects & Property Management Services Ltd, which has significant presence in television, OTT, distribution, content creation, and production services, will invest Rs 1,645 crore.

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Non-compete clause: Labour Ministry calls Infosys, union for joint discussion

April 28, 2022 3:24:37 am

Among the rival companies named in the employment contract are TCS, Accenture, IBM, Cognizant and Wipro for Infosys’ software services wing.

Adani Enterprises sets up wholly-owned subsidiary called AMG Media Networks

April 28, 2022 12:13:05 am

The new company will “carry on the business of media related activities, including publishing, advertising, broadcasting, distributing etc. of content over different types of media networks”.

Ex-chairman of debt-hit IL&FS Ravi Parthasarathy passes away

April 28, 2022 12:14:51 am

Former non-executive chairman of Infrastructure Leasing & Financial Services (IL&FS) Ravi Parthasarathy passed away on Wednesday.

Twitter-Musk deal includes $1 billion termination fee, filing says

April 27, 2022 9:43:43 am

One of the conditions for Musk's payment is if the deal falls through because the equity, debt and or margin loan financing needed is not funded, the filing said.

RIL, Abu Dhabi’s TA’ZIZ ink $2-billion chemical project joint venture

April 27, 2022 12:50:25 am

The joint venture will construct and operate a chlor-alkali, EDC and PVC production facility, with total investment of over $2 billion.

A creditor revolt scuttled Mukesh Ambani’s $3.2 billion retail deal

April 26, 2022 5:52:46 pm

The unequal treatment led to the move last week, when the local banks rebuffed the $3.2 billion offer from Ambani’s conglomerate. Reliance Industries Ltd. announced the purchase plan in August 2020 but struggled to complete the transaction in the face of legal challenges mounted by Inc., which argued it had the first right of refusal contractually.

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No problem in Tesla producing EVs in India but must not import vehicles from China: Gadkari

April 26, 2022 4:42:04 pm

In an interactive session at the Raisina Dialogue, Gadkari further said India is a large market and there is a huge potential for all electric vehicles.

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Funding obscured: The family office behind Musk’s $44 billion Twitter buyout

April 26, 2022 11:09:27 am

The office is called Excession and the man who helped build it is Jared Birchall, a former Morgan Stanley banker who has advised Musk on his interactions with Wall Street for several years, according to regulatory filings and legal documents.

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FRL shareholders to be hit if banks opt for IBC resolution

April 25, 2022 5:21:38 am

RIL has said the takeover proposal can’t be implemented as secured creditors rejected the plan

Future Retail takeover can’t be implemented, says RIL in filing

April 24, 2022 7:14:09 am

On Friday, secured lenders rejected Future Retail Limited’s (FRL) Rs 24,713 crore deal to sell its assets to Reliance Retail Ventures Ltd (RRVL), a subsidiary of RIL.

FRL meet: Some banks not in favour of RIL deal

April 22, 2022 10:04:21 am

FRL is yet to officially declare the meeting’s outcome. “If top banks are opposing the sale to RIL, the deal is likely to fall through. The next option is to take the IBC route,” said a banking source.