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COMPANIES NEWS - Page 60
Byju’s chalks out plan to become profitable by March, fire 5 pc employees and hire 10,000 teachers
October 12, 2022 20:45 IST
Byju's co-founder Divya Gokulnath told PTI that the company will start focussing on building brand awareness overseas through new partnerships and hire 10,000 teachers for India and overseas business.
Intel plans to cut thousands of jobs hit by PC slowdown: Report
October 12, 2022 09:17 IST
The layoffs will be announced as early as this month and some of Intel's divisions, including the sales and marketing group, could see cuts affecting about 20% of staff, according to the report.
LIC market share rises to 68.24%
October 12, 2022 03:42 IST
On the other hand, the market share of private players fell to 31.75 per cent as of September 2022 from 35.51 per cent a year ago.
TCS profit rises 8.38%, crosses Rs.10,000 cr in Q2
October 10, 2022 23:35 IST
Total revenue for the quarter jumped 18 per cent to Rs 55,309 crore from Rs 46,867 crore. While constant currency revenue growth was at 15.4 per cent, order book was at $8.1 billion, TCS said.
Renault and Nissan confirm talks over future of their alliance partnership
October 10, 2022 13:56 IST
"The companies continue to drive structural improvements to ensure sustainable Alliance operations and governance. Any further communication will be done in due course by the Alliance members," added Renault and Nissan in a joint statement on Monday.
Paytm annualised run rate of loan disbursals touches Rs 34,000 crore in September
October 10, 2022 11:04 IST
During the reported month, total number of loans disbursed by Paytm grew by over three fold to about 92 lakh in the quarter ended September 2022, from 28.41 lakh a year ago.
Ambani sets up family office branch in SingaporeSubscriber Only
October 8, 2022 00:29 IST
The family office will recruit additional staff and commence operations immediately, mainly scouting for profitable investment opportunities, sources close to the development said.
Britannia Industries expands in Africa with Kenya dealSubscriber Only
October 7, 2022 11:07 IST
Britannia is a 130-year old company whose brands include Good Day and Marie Gold cookies in India. It has been looking to add capacity in Africa, where governments want to expand their industries and reduce imports of products that can be made locally.
Former DoT Secy JS Deepak joins Airtel
October 7, 2022 01:26 IST
The 1982 batch IAS officer of Uttar Pradesh cadre was telecom secretary from June 2016 till March 2017, when he was abruptly transferred to the Department of Commerce.
Wipro asks staff to be in office three times a week
October 6, 2022 05:30 IST
“Our offices will be open on Mondays, Tuesdays, Thursdays, and Fridays. Our carefully deliberated back-to-office policy is meant to allow employees the flexibility of remote work while ensuring that our teams can access experiences, as well as opportunities, and build meaningful relationships at work,” it said.
Sony-Zee merger gets conditional approval from Competition Commission of IndiaSubscriber Only
October 5, 2022 02:26 IST
The specific conditions laid down by the antitrust regulator are not known, barring that the two firms should ensure there’s no unfair dominance in any market.
‘Unfulfilled conditions’: Prosus axes $4.7-bn BillDesk takeoverSubscriber Only
October 4, 2022 00:57 IST
According to sources, certain investors of BillDesk are exploring options to consider a legal recourse against the deal being terminated by Prosus.
Prosus NV terminates agreement to acquire Indian payment aggregator BillDeskSubscriber Only
October 3, 2022 14:03 IST
The company did not detail the unfulfilled conditions that led to the deal’s termination. An e-mail query sent to Prosus did not elicit a response.
Vaishnaw: BSNL 5G by next Aug, to be based on non-standalone architectureSubscriber Only
October 2, 2022 10:22 IST
In July, the government had cleared a Rs 1.64 lakh crore booster shot for the loss-making BSNL with an aim to upgrade the operator’s network to 4G, while de-stressing its balance sheet. The four-year turnaround plan includes both a cash component and a non-cash component.
Useless meetings waste time and $100 million a year for big companiesSubscriber Only
October 1, 2022 16:54 IST
Employees say they don’t need to be in nearly one-third of the meetings they attend, a new survey shows, and women are more reluctant than men to decline invitations.
Avinash Pandey is IAA India Chapter president
October 1, 2022 07:00 IST
The India Chapter of IAA also elected Abhishek Karnani, director, Free Press Journal Group, as vice president; Nandini Dias as honorary secretary; and Jaideep Gandhi, chairman, Another Idea, as honorary treasurer.
Reliance Retail launches first in-house premium fashion store called Azorte
September 29, 2022 15:11 IST
The new store chain called Azorte, the first of which was launched in Bengaluru, will compete with the likes of Mango and Industria de Diseno Textil SA (Inditex)-owned Zara, and cater to millenials and Gen Z.
H&M to cut costs as profits hit by inflation, cautious shoppers
September 29, 2022 14:45 IST
Pretax profit in the June-August period, the Swedish group's fiscal third quarter, fell to 689 million crowns ($60.9 million) from 6.09 billion a year-earlier. Five analysts polled by Refinitiv had on average forecast a 2.98 billion crown profit.
Adani Group investment over next decade | ‘$100-bn for new energy, digital’, says Gautam Adani
September 28, 2022 09:00 IST
“As a group, we will invest over $100 billion of capital in the next decade. We have earmarked 70 per cent of this investment for the energy transition space,” he said.
Companies must understand structural shift in tech workforce: MoS IT
September 24, 2022 04:25 IST
He said corporates and companies must now understand there has been a structural shift in the minds and attitudes of young Indian tech workforce.
RIL arm acquires 20% stake in solar tech firm Caelux for $12 million
September 23, 2022 14:13 IST
Reliance New Energy Ltd, a wholly-owned subsidiary of the firm, signed definitive agreements to invest in Caelux Corporation, a Pasadena, California-headquartered company engaged in the development of perovskite-based solar technology, it said in a statement.
Tata Steel board approves merger of six subsidiary companies
September 24, 2022 04:19 IST
The subsidiaries are Tata Steel Long Products Limited in which Tata Steel holds 74.91 per cent equity, The Tinplate Company of India Limited (74.96 per cent), Tata Metaliks Limited (60.03 per cent), The Indian Steel & Wire Products Limited (95.01 per cent equity holding), Tata Steel Mining Limited and S & T Mining Company Limited (both wholly-owned subsidiaries).
ASBA-like model in secondary market
September 22, 2022 03:50 IST
Sebi is also planning to narrow the regulatory gap in the start-up ecosystem, Buch stated.
Moonlighting: Wipro fires 300 employees for ‘working for competitors’
September 22, 2022 09:35 IST
“Employees can have a transparent dialogue with the organisation about their second or weekend work, but we discovered 300 employees who were working for direct competitors. There is no place for them,” Wipro chairman Rishad Premji said
Amazon to set up three solar farms in Rajasthan
September 22, 2022 03:38 IST
Further, Amazon will set up 23 new solar rooftop projects — with a capacity to generate an additional 4.09 MW of power — across 14 cities in India. This would increase its total number of solar rooftop projects in the country to 41 with 19.7 MW of renewable energy capacity.
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