Page 37 - Companies News
REC transfers 6 SPVs to Power Grid Corporation for transmission projects
The Special Purpose Vehicles (SPVs) are mostly for construction of transmission projects in Gujarat, REC Ltd said in a statement on Wednesday
 "REC transfers 6 SPVs to Power Grid Corporation for transmission projects")
Coromandel International to enter into fertilisers, industrial chemicals
The Board also approved the plan to diversify into new growth areas, namely speciality and industrial chemicals
 "Coromandel International to enter into fertilisers, industrial chemicals")
Nazara arm Sportskeeda pays $1.8 mn for 73.27% stake in NFL-focused US firm
It's an all-cash deal; company is eyeing multiple acquisitions in the near future to further boost its position in the sports media landscape
 "Nazara arm Sportskeeda pays $1.8 mn for 73.27% stake in NFL-focused US firm")
Indian carriers need not shy away from competition: Noida Int'l Airport CEO
"Our business case is based on the premise of growth. It is in our interest and everyone else to see growth in domestic and international traffic," he said
 "Indian carriers need not shy away from competition: Noida Int'l Airport CEO")
Tirumala Tirupati Devasthanam budget up by 43%, pegged at Rs 4,411 cr
The TTD decided to continue the sale of online seva, which started during Covid-19 pandemic and fetched Rs 100 crore
 "Tirumala Tirupati Devasthanam budget up by 43%, pegged at Rs 4,411 cr")
World Bank arm IFC to invest Rs 600 cr in M&M's new last-mile mobility firm
Deal values newly incorporated company at Rs 6,020 cr; the investment, which will be in the form of compulsory convertible instruments, will give IFC an ownership of 9.97-13.64% in the enterprise
 "World Bank arm IFC to invest Rs 600 cr in M&M's new last-mile mobility firm")
Spencer's Retail appoints Anuj Singh as CEO, MD for three-year term
Industry veteran has more than two decades of leadership experience in organisations in India, West Asia, Europe
 "Spencer's Retail appoints Anuj Singh as CEO, MD for three-year term")
PFC signs agreement with Japan's JBIC for project loan of Rs 165 cr
This pact was executed under a general agreement signed between PFC and JBIC for JPY (Japanese Yen) 30 billion
 "PFC signs agreement with Japan's JBIC for project loan of Rs 165 cr")
Now, a B2B platform trading in unlisted shares, ESOPs, AIF units for PE/VCs
System aims to bring all stakeholders under one roof to create a large pool of investors and deal makers; Intermediaries can do such deals faster and cheaper, using various tools almost free of cost
 "Now, a B2B platform trading in unlisted shares, ESOPs, AIF units for PE/VCs")
Intel GPU chief Raja Koduri quits to form own generative AI startup
Indian-American Raja Koduri, head of Intel's Accelerated Computing Systems and Graphics Group, has quit the chip-making major to form his own generative artificial intelligence (AI) startup.
 "Intel GPU chief Raja Koduri quits to form own generative AI startup")
Walmart Foundation to support 1 mn small farmers in India over next 5 yrs
Walmart Foundation on Wednesday announced its plan to support an additional 1 million smallholder farmers in India, with at least 50 per cent women, in the next five years
 "Walmart Foundation to support 1 mn small farmers in India over next 5 yrs")
Govt proposes to sell up to 3.5% stake in Hindustan Aeronautics
The floor price for the HAL stake sale is set at 2,450 rupees apiece, at a discount of 6.7% to Wednesday's close
 "Govt proposes to sell up to 3.5% stake in Hindustan Aeronautics")
Coromandel preps for new businesses, plans to invest Rs 1,000 cr in 2 years
Agriculture solutions company will get into speciality and industrial chemicals
 "Coromandel preps for new businesses, plans to invest Rs 1,000 cr in 2 years")
Net zero target: How MSMEs are caught between a rock and a hard place
Amid a green push by governments across the globe, small industries rue lack of resources and help in energy transition
 "Net zero target: How MSMEs are caught between a rock and a hard place")
Trai to again meet telecom firms next week to end spam call menace
Discussion will seek to end unsolicited communication using technology, regulations
 "Trai to again meet telecom firms next week to end spam call menace")
Ambani among top 10 billionaires, Adani at 23rd: M3M Hurun Global Rich List
Despite an erosion of 20 per cent or $21 billion in wealth, Reliance Industries' Chairman and Managing Director Mukesh Ambani continues to be at the top 10 wealthiest individuals
 "Ambani among top 10 billionaires, Adani at 23rd: M3M Hurun Global Rich List")
Flipkart launches exchange programme for used ACs with doorstep pickup
Customers can make the exchange irrespective of where the AC was purchased, says company
 "Flipkart launches exchange programme for used ACs with doorstep pickup")
International Finance Corp to buy 5.6% stake in JK Tyre for $30 million
JK Tyre & Industries Ltd on Wednesday said World Bank Group member IFC will invest USD 30 million (about Rs 240 crore) to pick a 5.6 per cent stake in the company to part-fund expansion
 "International Finance Corp to buy 5.6% stake in JK Tyre for $30 million")
In a bid to bolster its leadership, Shemaroo makes two key appointments
Arpit Mankar has been appointed head of the non-Bollywood category, and Abhishek Joshi will lead the OTT platform of Shemaroo, ShemarooMe
 "In a bid to bolster its leadership, Shemaroo makes two key appointments")
Need to reduce airports' operating costs by 30-50%: Adani Airports CEO
Adani Airports chief Arun Bansal said the cost of operating airports has to come down by 30-50 per cent in the coming years as he highlighted the growth potential of the Indian aviation market
 "Need to reduce airports' operating costs by 30-50%: Adani Airports CEO")
