COMPANIES NEWS - Page 69

Framework on anvil to curb fake reviews on e-commerce sites

May 29, 2022 08:16 IST

The decision comes after the ministry and the Advertising Standards Council of India (ASCI) held a virtual meeting on Friday with e-commerce companies, along with other stakeholders, to discuss the magnitude and roadmap ahead for fake reviews on such websites.

Tesla CEO Elon Musk attends the opening of the Tesla factory Berlin Brandenburg in Gruenheide, Germany, March 22, 2022. (Patrick Pleul/Pool Photo via AP, File)

Tesla won’t manufacture in India unless allowed to sell, service cars: Elon Musk

May 28, 2022 11:44 IST

In August last year, Musk had said Tesla may set up a manufacturing unit in India if it first succeeds with imported vehicles in the country.

Bharti AXA Life premium, Bharti AXA Life Insurance, Business news, Indian express business news, Indian express, Indian express news, Current Affairs

Bharti AXA Life premium income rises 14 pc

May 28, 2022 06:46 IST

It posted a 25 per cent growth in weighted new business premium (WNBP) to Rs 730 crore from Rs 582 crore last year, outperforming the overall and private industry growth which stood at 16 per cent and 22 per cent respectively.

Ruchi Soya Q4 income up 37% at Rs 6,676.19 crore

May 28, 2022 19:50 IST

The company's total income rose to Rs 6,676.19 crore in the fourth quarter from Rs 4,859.5 crore in the corresponding period of the preceding fiscal.

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Tata Motors files record 125 patents in FY22

May 27, 2022 16:12 IST

The company said the number of patents filed in last financial year were the highest ever for the auto major so far.

Insurance Regulatory Authority of India, Reliance Capital, Piramal Group, Business news, Indian express business news, Indian express, Indian express news, Current Affairs

Piramal bid for RCap runs into regulatory wallSubscriber Only

May 27, 2022 03:28 IST

A consortium, led by Piramal Group, is one of the eight serious contenders for acquiring RCap’s assets, from whom creditors are seeking Rs 23,666 crore in dues.

Personal Data Protection Bill, Facebook, Data localisation norms, Business news, Indian express business news, Indian express, Indian express news, Current Affairs

FB: Data localisation norms may make it ‘difficult’ for services in IndiaSubscriber Only

May 27, 2022 03:18 IST

It is worth noting that Sherman’s comments are a reiteration of what Meta had intimated the US’ Securities and Exchange Commission (SEC) earlier this year on India’s proposed privacy bill.

BlackRock, other major McDonald’s shareholders side with company in fight with Icahn

May 26, 2022 13:45 IST

Index fund BlackRock, whose 4.6% stake ranks it as McDonald's third-largest investor, has cast its votes for the company, two people familiar with the voting said.

A man talks on a mobile phone outside the Life Insurance Corporation of India (LIC) branch in Mumbai. (Bloomberg)

LIC to declare financial results for FY22 next week, consider payment of dividend

May 26, 2022 13:12 IST

The insurance behemoth, which was listed on the bourses earlier this month on May 17, said the board will consider and approve the audited financial results (standalone and consolidated) for the quarter and year ended March 31, 2022.

The name of the complainant is Jaskaran Chawla, who is an advocate at the Delhi high court. FE has reviewed a copy of the complaint.

Whistleblower accuses Amtek Auto promoters of Rs 12,000-crore fraudSubscriber Only

May 26, 2022 10:51 IST

The May 23 complaint names 27 employees of the Amtek Group who were allegedly used by the Dham family to create a ‘benami’ structure in order to move, park and siphon off funds.

(Image source: Hindustan Zinc's website)

Govt to sell its entire stake in Hindustan Zinc

May 25, 2022 17:26 IST

The government currently owns a 29.54 per cent stake in Hindustan Zinc.

Digit Insurance targets $5 billion in IPO valuation: Report

May 25, 2022 16:36 IST

Digit was valued at close to $4 billion earlier this month when it raised a tranche of funding. It has so far raised more than $400 million from Sequoia Capital, A91 Partners and Faering Capital, besides Fairfax.

A Zomato delivery executive, Mumbai. (File)

As losses mount, Zomato turns focus to conserving cashSubscriber Only

May 24, 2022 06:08 IST

The company acknowledged a shortage of delivery workers, saying many professionals, who left for their villages during the first Covid-induced lockdown in 2020, have not returned yet.

Zilingo ex-CEO Ankiti Bose says conflicts of interest led to her termination

May 20, 2022 22:26 IST

Zilingo said that Ankiti Bose made certain harassment-related allegations only after she was suspended on March 31, and an investigation has concluded that the firm took appropriate action.

Front-running: Axis AMC sacks chief dealer Joshi

May 20, 2022 03:25 IST

On May 6, Axis AMC suspended two fund managers — Viresh Joshi and Deepak Agarwal.

Maruti’s third Haryana unit by 2025; ‘full capacity in 8 years’Subscriber Only

May 20, 2022 03:19 IST

Calling it “one of the biggest investments in the state”, Khattar said, "Today, if Gurgaon has become an iconic destination for investors, it is due to the base provided by Maruti, which started its production in Haryana four decades ago. We are heading towards a new era of relationship between Haryana and Japan."

Cyrus Mistry was removed as Executive Chairman of Tata Sons in 2016. (Express Photo by Ganesh Shirsekar)

SC dismisses plea to review verdict on removal of Cyrus Mistry as Tata Sons headSubscriber Only

May 19, 2022 16:13 IST

The court, however, agreed to expunge certain remarks against Mistry from last year's judgement even as it took exception to a remark in Mistry’s application that said “the judgment is worse than a press statement".

Asia's richest men Gautam Adani and Mukesh Ambani

Gautam Adani, Mukesh Ambani reap windfall from surging oil, coalSubscriber Only

May 18, 2022 23:01 IST

With coal prices skyrocketing to a record, Adani’s conglomerate is expanding a controversial mine in Australia to meet demand. Ambani’s Reliance Industries Ltd. is snapping up distressed crude-oil cargoes at discounts to feed its refining complex, the biggest in the world.

Women spread fryums for drying on a rooftop as an IndiGo Airlines Airbus A320-200 aircraft moves on the runway after landing at the Sardar Vallabhbhai Patel international airport in Ahmedabad, India July 6, 2017. (REUTERS/File Photo)

KLM’s Elbers to succeed Dutta as IndiGo CEO

May 19, 2022 05:30 IST

Elbers, 52, started his career with KLM in 1992, and has held several managerial positions in both The Netherlands, and in Japan, Greece and Italy.

Tata’s expansion comes at a time of severe inflationary turmoil as the war in Ukraine, national agri-commodities export bans and choked supply-chains push up input costs for consumer goods companies. (Image: Facebook/Tata Consumer Products)

Tata in buyout talks with as many as five consumer brandsSubscriber Only

May 18, 2022 16:47 IST

Since its formation in 2020 during an ongoing streamlining of Tata’s 153-year-old business empire, which operates across dozens of sectors, Tata Consumer Products has widened its portfolio by buying stakes in companies such as bottled-water business NourishCo Beverages Ltd., as well as cereal brand Soulfull.

Ruchi Soya to acquire Patanjali Ayurved’s food retail business for Rs 690 crore; rename itself as ‘Patanjali Foods’

May 18, 2022 16:24 IST

The company will also get the manufacturing plants located at Padartha, Haridwar, and Newasa, Maharashtra.

Weak market debut for LIC, lists at 8% discount

May 18, 2022 04:12 IST

LIC, India’s biggest insurer and domestic financial institution, started trading at Rs 867.20 — at a discount of 8.62 per cent — on the BSE as against the issue price of Rs 949 per share.

Alibaba will offload the entirety of its 28.34 per cent stake in Paytm Mall, with its holdings currently valued at around $3.5 million.

Alibaba, Ant Financial to exit Paytm MallSubscriber Only

May 18, 2022 04:00 IST

Paytm Mall will buy the stakes at a lower valuation of nearly `100 crore, compared to its peak of over `21,000 crore in 2019.

Petronet LNG reports 14% year-on-year rise in PAT at Rs 3,352 crore in FY 2021-22

May 17, 2022 19:02 IST

Petronet LNG reported 13 per cent year-on-year rise in its profit before tax (PBT) at Rs 4,474 crore for FY 2021-22 while the profit after tax (PAT) grew 14 per cent on-year at Rs 3,352 crore.

Gautam Adani with Holcim CEO Jan Jenisch in Ahmedabad, Sunday. (PTI)

Adani makes open offer for 26% each in Ambuja Cements, ACC

May 17, 2022 04:43 IST

Through its Mauritius-based subsidiary Endeavour Trade and Investment, the group has made an open offer at Rs 385 per share for Ambuja Cements Ltd and Rs 2,300 per share for ACC Ltd.

Algerian-French artist’s work vandalised at Kochi art gallery over ‘obscenity’ allegations

India4 hr ago

Algerian-French artist Hanan Benammar's linocut prints were vandalised by two artists at an international exhibition in Kochi. The exhibition, curated by Anushka Rajendran and Damian Christinger, was organised by the Kerala Lalithakala Akademi and opened on October 18.

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