Journalism of Courage
COMPANIES NEWS - Page 59
Govt nudges LIC to tweak product strategy for better investor return
October 26, 2022 16:53 IST
The finance ministry in its performance review has been sensitising the LIC management about the steps that could be taken to better investor wealth and focus on non-participating products or term plans to improve profitability.
Unilever recalls Dove, Tresemmé, other dry shampoos over cancer riskSubscriber Only
October 26, 2022 16:51 IST
Unilever’s recall pertains to products made prior to October 2021. The move once again raises questions about the safety of aerosols in personal-care products.
Standard Chartered beats estimates with 40% profit jump, raises income outlook
October 26, 2022 11:38 IST
StanChart, present in 59 markets with 85,000 staff, mainly relies on capturing trade flows between its key markets of Asia, Africa and the Middle East but it lacks the heft of larger rivals in commercial banking and investment banking.
Philips to cut 5% of workforce as new CEO acts to counter falling sales
October 24, 2022 14:13 IST
CEO Roy Jakobs described the layoffs, which will be concentrated in the United States and the Netherlands and primarily affecting business lines with falling sales, as "unfortunate, but necessary."
HUL Q2 profit up 22 pc, volume growth of 4 pc
October 23, 2022 08:44 IST
HUL declared an interim dividend of Rs 17 per equity share of face value of Re 1 each.
Reliance to demerge fin services arm Jio Financial Services; list it on stock exchanges
October 23, 2022 08:40 IST
JFSL plans to launch consumer and merchant lending business while continuing to evaluate organic growth, joint-venture partnerships as well as inorganic opportunities in insurance, asset management and digital broking segments, it said.
At Rs 13,656 crore, RIL profit registers 0.20 pc dip in Q2
October 23, 2022 08:41 IST
The Mukesh Ambani-led conglomerate said consolidated profit was 136.56 billion Indian rupees ($1.65 billion) in the second quarter ended Sept. 30, compared with 136.8 billion rupees a year earlier.
Jio net profit up 28 pc to Rs 4,518 cr for September quarter
October 21, 2022 20:08 IST
The revenue from operations jumped 20.2 per cent to Rs 22,521 crore for the just ended quarter, from Rs 18,735 crore in the year-ago period.
Adani Group said to consider raising $10 billion debt in lower-cost debt, green bondsSubscriber Only
October 21, 2022 14:16 IST
Using multiple instruments including foreign currency debt and green bonds, the Adani Group plans to raise up to $6 billion to swap its existing high-interest debt with lower-cost borrowings and deploy the rest for project financing, one of the people said, asking not to be identified as the information is private.
Infosys allows employees to take up gig work with managers’ prior consent
October 20, 2022 22:07 IST
Analysts say, the move may help the company to address some attrition challenges, since it allows employees to take up additional source of earnings, and chase their tech passion, albeit with firm riders.
Piramal Pharma falls 4.98 pc after listing
October 20, 2022 04:16 IST
As part of the demerger process, four equity shares of face value of Rs 10 each fully paid up of Piramal Pharma will be issued and allotted for every one share of face value of Rs 2 held in Piramal Enterprises. “The simplification of the corporate structure will unlock greater shareholder value.
Competition Comm slaps penalties totalling Rs 392 crore on MakeMyTrip, Goibibo, OYO
October 19, 2022 21:57 IST
MakeMyTrip and Goibibo (MMT-Go) have been asked by the regulator to ensure fair and transparent access to hotels as well as to comply with various directions.
Nestle September quarter profit rises 8% to Rs 668 crore
October 19, 2022 17:28 IST
Nestle India Chairman and Managing Director Suresh Narayanan said this achievement has been "on continued strong volume and mix evolution with broad-based double-digit growth" across all categories.
UltraTech Cement’s net profit falls 42% to Rs 759 crore; sales up 16% to Rs 13,893 crore in Q2
October 19, 2022 17:18 IST
The company had posted a net profit of Rs 1,310.34 crore in the July-September period a year ago, UltraTech Cement said in a BSE filing.
Nissan looking to drive in global products into Indian market
October 18, 2022 17:22 IST
The company, which currently sells models like Magnite and Kicks in the country, is looking to drive in models like X-Trail, Juke and Qashqai into the country.
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October 28, 2022 17:16 IST
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Ericsson partners with Jio to build 5G standalone network
October 17, 2022 12:42 IST
This is the first partnership between Jio and Ericsson for radio access network deployment in the country
IRDAI proposes conditions for private equity funds in insurance companiesSubscriber Only
October 15, 2022 17:01 IST
IRDAI said the equity contribution of promoters and other investors will have a lock-in period of five years at the time of granting the final approval or even before that.
Absolut Vodka-maker Pernod Ricard’s India CEO steps down due to health reasons
October 14, 2022 14:12 IST
Thibault Cuny, who has been dealing with health concerns for some years, will take a break from his professional duties on medical advice, but will stay on with Pernod, the company said in its statement to Reuters.
Infosys does not support dual employment; have fired violators in last 12 months: Salil Parekh
October 13, 2022 22:11 IST
Last month, Wipro Chairman Rishad Premji revealed that some 300 employees were fired as the IT services company had no place for any employee who chose to work directly with rivals while being on Wipro payrolls.
Infosys sets Rs 9,300 crore share buyback; profit rises 11.1%
October 14, 2022 00:36 IST
The country's second-largest IT services company by revenue also approved a share buyback worth 93 billion Indian rupees ($1.13 billion).
Zoomcar, India’s car-sharing platform, to go public via SPAC dealSubscriber Only
October 13, 2022 08:29 IST
Zoomcar Inc., an India-based car-sharing platform, has reached an agreement to go public via a merger with blank-check firm Innovative International Acquisition Corp., according to people familiar with the matter.
Byju’s chalks out plan to profitability: To fire 5% staff, hire 10K teachers
October 13, 2022 06:07 IST
This would be the second most significant round of layoffs at the startup, last valued at $22 billion, after it had cut hundreds of jobs in June amid a global funding winter that impacted companies from across sectors, setting back their plans — including Byju’s — to go public this year.
Govt grants unified licence to Adani Data NetworkSubscriber Only
October 13, 2022 05:01 IST
The company had acquired 400 MHz of spectrum in the 26 GHz band for a total of Rs 212 crore. While applying to participate in the auctions, Adani Data Network had said it had received a letter of intent from DoT for Unified Licence with authorisation for NLD/ILD/ISP-B in the Gujarat circle.
HCL Tech disapproves of moonlighting, but issue not a big problem within companySubscriber Only
October 12, 2022 22:34 IST
"Dual employment while working for HCL Tech...we do not approve of that. Everybody who signs up to work for HCL Tech is signing up employment contract which requires exclusivity."
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