Corporates

State-Owned Companies To Decide On Closure, Divestment Of Units: Cabinet

State-Owned Companies To Decide On Closure, Divestment Of Units: Cabinet

Press Trust of India | Wednesday May 18, 2022, New Delhi

The Cabinet on Wednesday empowered boards of state-owned companies to decide on the closure and divestment of units/subsidiaries.

Indian Oil Corporation Net Drops 31.4% In Q4; Record Profit In 2021-22

Indian Oil Corporation Net Drops 31.4% In Q4; Record Profit In 2021-22

Press Trust of India | Tuesday May 17, 2022, New Delhi

Indian Oil Corporation (IOC) on Tuesday reported a 31.4 per cent drop in the fourth quarter net profit on a margin squeeze in petrochemicals and losses on auto fuel sales.

Abu Dhabi's IHC Invests Rs 15,400 Crore In Adani Group Companies

Abu Dhabi's IHC Invests Rs 15,400 Crore In Adani Group Companies

Press Trust of India | Tuesday May 17, 2022, New Delhi

Abu Dhabi's International Holding Company PJSC (IHC) has invested Rs 15,400 crore ($2 billion) as primary capital in three Adani portfolio companies -- Adani Green Energy Ltd (AGEL), Adani Transmission Ltd (ATL) and Adani Enterprises Ltd (AEL).

Bharti Airtel's Revenue Jumps Over 22% In Q4 On Tariff Hike

Bharti Airtel's Revenue Jumps Over 22% In Q4 On Tariff Hike

Reuters | Tuesday May 17, 2022, Bengaluru

Indian telecom operator Bharti Airtel Ltd on Tuesday reported a 22.3% jump in fourth-quarter revenue, boosted by a recent tariff hike.

Tech Mahindra To Focus On Integrating Companies

Tech Mahindra To Focus On Integrating Companies

Press Trust of India | Tuesday May 17, 2022, Mumbai

Having committed over $955 million (around Rs 7,353 crore) to acquire 10 companies in the immediate past, Tech Mahindra will be less acquisitive in the new fiscal year and focus on integrating them, a senior company official said.

No Tax On $6.38 Billion Deal With Adani Group, Says Swiss Company

No Tax On $6.38 Billion Deal With Adani Group, Says Swiss Company

Press Trust of India | Tuesday May 17, 2022, New Delhi

Swiss building material major Holcim has said its $6.38 billion deal with Asia's richest man Gautam Adani's group is tax-free.

Gautam Adani's New $10.5 Billion Deal: A 10-Point Guide

Gautam Adani's New $10.5 Billion Deal: A 10-Point Guide

Edited by Prashun Talukdar | Monday May 16, 2022, New Delhi

Billionaire Gautam Adani's conglomerate plans to buy Switzerland-based Holcim AG's cement businesses in India for $10.5 billion (around Rs 81,361 crore). This will be the largest-ever acquisition. Under the deal, Holcim will sell its 63 per cent stake in Ambuja Cements to Adani Group. Adani will also inherit Ambuja's controlling stake in another publicly traded cement producer, ACC, and buy Holcim's direct 4.5 per cent holding in the unit.

Tech Mahindra Net Profit Zooms 39% To Rs 1,678.4 Crore

Tech Mahindra Net Profit Zooms 39% To Rs 1,678.4 Crore

Press Trust of India | Friday May 13, 2022, Mumbai

IT services provider Tech Mahindra on Friday reported a 39 per cent jump in its consolidated net profit for March 2022 quarter at Rs 1,678.4 crore, and exuded confidence that the positive business momentum will continue in the current fiscal.

Swiggy Shuts Supr Daily Operations In 5 Out of 6 Cities

Swiggy Shuts Supr Daily Operations In 5 Out of 6 Cities

Edited by Prashun Talukdar | Wednesday May 11, 2022, New Delhi

Swiggy Shuts Down: Food delivery platform Swiggy has announced that it will scale down operations of Supr Daily in five out of six cities to attain "business-market fit goals".

NSE Case: Court Defers Order On Bail Pleas Of Chitra Ramkrishna, Arvind Subramanian

NSE Case: Court Defers Order On Bail Pleas Of Chitra Ramkrishna, Arvind Subramanian

Asian News International | Monday May 09, 2022, New Delhi

A Special Court on Monday deferred passing the order on bail petitions of Chitra Ramkrishna and Arvind Subramanian in connection with the NSE co-location case for May 12.

PVR Reports Net Loss Of Rs 105.49 Crore, Three-Fold Rise In Revenues

PVR Reports Net Loss Of Rs 105.49 Crore, Three-Fold Rise In Revenues

Press Trust of India | Monday May 09, 2022, New Delhi

Leading multiplex chain operator PVR Ltd on Monday reported narrowing of its consolidated net loss to Rs 105.49 crore for the fourth quarter ended in March 2022.

Campus Activewear Shares Jump 23% On Debut Listing

Campus Activewear Shares Jump 23% On Debut Listing

Monday May 09, 2022, New Delhi

Campus share price: Shares of athleisure footwear company Campus Activewear Ltd made a healthy market debut on Monday, jumping over 23 per cent, against the issue price of Rs 292.

Foreign Funds' Stake In Equities Slides To 3-Year Low Of 19.5%

Foreign Funds' Stake In Equities Slides To 3-Year Low Of 19.5%

Press Trust of India | Sunday May 08, 2022, Mumbai

Foreign funds' ownership in domestic equities fell to pre-Covid lows and hit a multi-year low of 19.5 per cent in March this year in NSE500 companies

Future Enterprises To Sell Insurance Business To Avoid Insolvency

Future Enterprises To Sell Insurance Business To Avoid Insolvency

Press Trust of India | Sunday May 08, 2022, New Delhi

Debt-ridden Future Group firm Future Enterprises expects to raise around Rs 3,000 crore from selling its stake in the insurance business to pare debt

FICCI's Survey Shows Rise In Corporate Sector's Confidence Level

FICCI's Survey Shows Rise In Corporate Sector's Confidence Level

Asian News International | Sunday May 08, 2022, New Delhi

FICCI's latest survey reports an improvement in the confidence level of India's corporate sector with overall business confidence index at 67.6