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COMPANIES NEWS - Page 66
ITC will continue to deliver robust growth: Puri
July 20, 2022 16:43 IST
ITC launched 110 products during the year, CMD of ITC Sanjiv Puri said, adding that the company's future-ready and purpose-driven businesses and brands are well poised to seize the opportunities and make a meaningful contribution to the national priorities.
Jio adds over 31 lakh mobile users in May: TRAI data
July 20, 2022 14:53 IST
According to monthly subscriber data by Telecom Regulatory Authority of India (TRAI), Reliance Jio gained 31.11 lakh wireless subscribers, taking its mobile customer count to 40.87 crore.
HDFC Life Q1 profit rises 21% Rs 365 cr on better sales, higher renewals
July 20, 2022 15:01 IST
Total premium rose 23 per cent to Rs 9,396 crore during the quarter from Rs 7,656 crore a year ago, the life insurer said, adding the first-year premium income rose 27 per cent to Rs 4,776 crore.
Puneet Chhatwal: ‘Industry survived due to domestic tourism; infra is key catalyst’Subscriber Only
July 20, 2022 06:23 IST
Puneet Chhatwal, MD and CEO, IHCL, told Sandeep Singh that he has been following a multi-brand strategy and looking to expand and grow profitably through cost optimisation, asset monetisation and strategic partnerships.
CBI arrests 2 ex-promoters of DHFL, gets 8-day custodySubscriber Only
July 20, 2022 02:47 IST
The court said investigation is “necessary to probe their role in obtaining a large volume of loans of about Rs 42,000 crore, of which they occasionally defaulted in paying back Rs 34,000 crore but also diverted funds to the tune of Rs 29,000 crore."
L&T Realty to develop three projects worth Rs 8,000 crore in Mumbai region
July 18, 2022 16:43 IST
L&T Realty has an extensive portfolio spanning 70 million square feet across residential, commercial, and retail developments in Mumbai, Navi Mumbai, Bengaluru, Chennai, NCR, and Hyderabad.
Bank of Maharashtra profit more than doubles to Rs 452 crore in Q1
July 18, 2022 16:28 IST
Total income during April-June 2022-23 fell to Rs 3,774.32 crore from Rs 3,790.72 crore in the same quarter of 2021-22, the state-owned bank said in a regulatory filing.
Porsche India sales up two folds at 378 units in first half of 2022
July 18, 2022 16:14 IST
Porsche India said it delivered more cars between January to June this year than the individual full year figures from 2018, 2019 and 2020.
Adani Wilmar cuts prices of edible oil by up to Rs 30 per litre
July 18, 2022 14:51 IST
"In continuation to the global price reduction and the government's effort to pass on the benefits of reduced edible oil prices to consumers, Adani Wilmar has further slashed edible oil prices from the last month's reduction effected by the company," a company statement said.
US ‘must be alarmed’ by foreign companies exiting India: Hudson directors
July 18, 2022 06:49 IST
Notably, while some of these companies have either cited poor competitive position or global business strategies, others have had long-running tiffs with law enforcement and tax authorities.
Irdai in favour of insurers in SLBC, proposes steep hike in premium targetSubscriber Only
July 18, 2022 03:22 IST
Insurance Regulatory and Development Authority of India (Irdai) Chairman Debasish Panda said insurance companies should become members of the State Level Bankers Committee (SLBC) and boost the growth of the sector.
LIC embedded value rises slightly to Rs 5.41L croreSubscriber Only
July 15, 2022 04:12 IST
Embedded value is calculated by adding the present value of future profits of an insurance firm to the net asset value (NAV) of the firm’s capital and surplus. It is a common valuation measure to estimate the consolidated value of shareholders' interest in an insurance company.
Shapoorji Pallonji and Co exits from Eureka Forbes
July 14, 2022 19:25 IST
Advent International backed Lunolux acquired 1.68 crore equity shares of Eureka Forbes constituting 8.7 per cent of the equity share capital of Eureka Forbes from Shapoorji Pallonji and Company on July 12, 2022, said a regulatory update by the manufacturer of the vacuum cleaner and water purifier.
Bosch to invest over Rs 200 crore in next five years in India
July 12, 2022 14:44 IST
"We are invested in the future...Bosch Ltd will invest more than Rs 200 crore in India in the next five years in advanced automotive technologies and in the digital mobility space," said Soumitra Bhattacharya, Bosch Group India President.
Adani in spectrum race, but ‘not in consumer mobility space’
July 11, 2022 08:49 IST
The development comes after the Department of Telecommunications (DoT), in a set of rules issued last month, had said that companies wishing to set up private 5G networks could obtain spectrum from the government directly, without paying a licence fee.
Tata Motors hikes passenger vehicle prices
July 9, 2022 13:07 IST
A weighted average increase in price of 0.55 per cent will come into effect starting Saturday across the range, depending upon the variant and model, the homegrown auto major said in a statement.
Amid rising costs, talent churn, TCS Q1 net rises 5.2%
July 9, 2022 07:28 IST
However, on a quarter-on-quarter basis, net profit fell by 4.5 per cent from Rs 9,926 crore in the March quarter as TCS was hit by increased costs across. The company also declared a dividend of Rs 8 per share.
Munjal steps down as CII president-designate
July 9, 2022 07:25 IST
Munjal announced his resignation from the post at CII's National Council Meeting on Thursday, where he pointed out that his commitments towards Hero MotoCorp's new global sustainability fund, in addition to the company itself, was the reason behind him stepping down, a person who attended the meeting told The Indian Express.
TCS Q1 net profit rises 5.2% to Rs 9,478 crore
July 8, 2022 17:44 IST
TCS has declared an interim dividend of Rs 8 per equity share of Re 1 each.
Dolo-650 maker’s premises searched over ‘tax evasion’
July 7, 2022 13:49 IST
The tax department is looking at financial records and statements of the company as part of the searches, officials said. Further details were not disclosed by the department.
GAIL invites investment proposals from startups operating in focus areas
July 6, 2022 15:24 IST
The investments will be done through GAIL's startup initiative 'Pankh'.
Corporate defaults may rise again on cost pressures: Report
July 6, 2022 12:37 IST
As per the report, the default rate may increase going forward as the pandemic-induced relief measures are withdrawn and volatile input prices create cost pressure for the industry in general, and for entities rated in the sub-investment-grade category, in particular, dominated by MSMEs.
New tyre standards to help customers make informed buying decisions: Apollo Tyres
July 5, 2022 12:36 IST
"We wholeheartedly welcome the MoRTH notification on tyres, which will be of benefit to users. Customers would be able to make informed purchase decisions with respect to key performance parameters while buying new tyres," Satish Sharma, President - Asia Pacific, Middle East and Africa (APMEA) - Apollo Tyres, said.
Adani lowest bidder in Coal India’s maiden import tender, miner may negotiate price
July 5, 2022 12:04 IST
Adani Group and another 10 companies had shown interests for the miner's maiden coal import tender for supply of the dry fuel on a freight-on-road (FOR) basis, including Mohit Minerals and Chettinad Logistics.
Domestic housing sector set to grow in next 5 years: PNB Housing Finance
July 4, 2022 12:37 IST
India showed resilience and recovered quickly from the pandemic induced challenges, emerging as the fastest-growing economies in the world, Hardayal Prasad, Managing Director and CEO, PNB Housing Finance, said in his address to shareholders.
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