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COMPANIES NEWS - Page 70
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.
LIC to list today: GMP in negativeSubscriber Only
May 17, 2022 04:39 IST
Despite gloomy markets sentiments, the LIC offer got better than expected subscriptions figures led by strong demand from retail policyholders, retail investors and employees of the insurer.
Ajay Srinivasan quits as MD of Aditya Birla Capital
May 17, 2022 04:37 IST
ABCL is the holding company for the financial services businesses of the Aditya Birla group. The scale is evidenced with overall AUM across asset management, life insurance and health insurance businesses, growing 16 per cent year on year to over Rs 372,423 crore.
Holcim CEO rules out capital gains tax on sale proceedsSubscriber Only
May 17, 2022 04:45 IST
Tax experts said Holcim may not have to pay capital gains tax for the bulk, if not all, of the $10.5-billion proceeds from the sale as it will sell the shares in the Indian companies to the Adani family’s offshore special purpose vehicle (SPV) through a Mauritius-incorporated entity.
Paytm to file for new license, says bullish about its roadmap for general insurance
May 16, 2022 12:14 IST
In a regulatory filing, Paytm reiterated its intention to make inroads in the general insurance sector, as it is extremely bullish about its potential.
Reliance to acquire dozens of brands in $6.5 billion consumer goods play: Report
May 16, 2022 10:24 IST
Reliance, run by Indian billionaire Mukesh Ambani, plans to build a portfolio of 50 to 60 grocery, household and personal care brands within six months and is hiring an army of distributors to take them to mom-and-pop stores and bigger retail outlets across the nation
Biggest infra materials deal: Holcim’s India biz is Adani’s for $10.5 billionSubscriber Only
May 16, 2022 07:13 IST
Through its subsidiaries, Holcim holds 63.19% in Ambuja Cements Ltd and 54.53% in ACC Ltd (of which 50.05% is held through Ambuja Cements). This is the largest ever acquisition by Adani, which beat the JSW and Aditya Birla groups to the deal.
Tesla puts India entry plan on hold after deadlock on tariffs: Report
May 13, 2022 16:47 IST
The decision caps more than a year of deadlocked talks with government representatives as Tesla sought to first test demand by selling electric vehicles (EVs) imported from production hubs in the United States and China, at lower tariffs.
Swiggy to acquire Dineout
May 13, 2022 15:54 IST
Dineout, which serves diners across its network of 50,000 restaurants in 20 cities, will continue to operate as an independent app post the acquisition, Swiggy said in a statement.
Pipeline Infrastructure and GAIL ink MoU to collaborate, develop hydrogen-based ecosystem
May 13, 2022 12:53 IST
Pipeline Infrastructure Ltd (PIL) and GAIL (India) will explore various options for transportation using the existing natural gas pipeline and the end use of hydrogen.
Hyundai to announce $7 billion US plant during Biden’s Asia visit: Report
May 13, 2022 11:39 IST
Hyundai is finalising those plans as President Joe Biden is set to travel to South Korea next week as part of his first visit to Asia during his presidency.
Tata Motors launches Nexon EV MAX with price starting at Rs 17.74 lakh
May 11, 2022 17:26 IST
Equipped with a 40.5 kWh lithium-ion battery pack, the Nexon EV Max offers 33 per cent higher battery capacity than the Nexon EV, delivering ARAI certified range of 437 km (under standard testing conditions), ensuring uninterrupted inter-city travel.
BharatPe sacks staff, vendors; to claw back shares from Ashneer Grover
May 11, 2022 07:40 IST
“If required, the company will be filing criminal cases against some of these employees for misconduct and act of cheating committed by them against the company,” BharatPe said in a statement.
BharatPe initiates action against former founder to claw back restricted shares
May 10, 2022 11:42 IST
In a statement, the firm said it will take all steps to enforce its right under the law.
Day 3: LIC IPO subscribed 1.38 times
May 7, 2022 03:54 IST
LIC policyholders’ quota was oversubscribed 4.01 times (401 per cent) and the employee reserved portion attracted 306 per cent subscription. The retail investors portion was subscribed 123 per cent, according to data revealed by the stock exchanges.
RIL first Indian company to top $100 bn annual revenue
May 7, 2022 01:12 IST
RIL’s gross revenue for the quarter was Rs 232,539 crore, higher by 35.1 per cent. Net profit for the full year was Rs 67,845 crore ($ 9.0 billion), higher by 26.2 per cent.
Axis AMC suspends two fund managers for front-running
May 7, 2022 00:38 IST
The statement comes in the wake of complaints reportedly being received by Axis Mutual Fund from stock brokers about fund managers punching in trades on behalf of the fund at values much higher than the market.
5th largest IT co in the making: L&T Infotech, Mindtree set to merge
May 7, 2022 00:46 IST
Mindtree shareholders will get 73 shares of LTI for every 100 shares of Mindtree, the statement said, adding the combined entity will be called as LTIMindtree.
Elon Musk secures over $7 billion funding from investors including Oracle Corp co-founder Larry Ellison
May 5, 2022 17:34 IST
Musk's $21 billion financing commitment was also revised to $27.25 billion.
Google appoints former NITI Aayog, CCI official as India public policy chief
May 5, 2022 04:04 IST
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 several brands, including ‘Kohinoor’ to strengthen food business
May 3, 2022 16:53 IST
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 sales jumps 25% to 45,640 units in April
May 2, 2022 13:03 IST
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 sales slip 20% to 3,10,774 units in April
May 2, 2022 12:45 IST
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 PiramalSubscriber Only
May 2, 2022 15:43 IST
'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.'
ED seizes Rs 5,500 cr in Xiaomi assets over ‘illegal’ remittancesSubscriber Only
May 1, 2022 09:07 IST
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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