Page 17 - Companies

3,552 foreign companies, subsidiaries closed in India between 2017-2022

A total of 3,552 foreign companies and subsidiaries of foreign companies have been closed in India between 2017 and 2022.

PC sales set to slow down in India as hardware firms announce layoffs

Sale boom during pandemic waning as consumers delay purchase due to fear of recession: Report

Battered by plunging PC sales, Dell to cut nearly 6,650 jobs globally

The company is experiencing market conditions that "continue to erode with an uncertain future," Co-Chief Operating Officer Jeff Clarke wrote in a memo

Adani prepays loans worth $1.11 bn, releases pledged shares in 3 firms

Move follows Hindenburg Research accusing Adani Group of improper use of offshore tax havens and stock manipulation

Govt says 128,000 cos struck off from records for non-compliance

In a written reply to the Lok Sabha, he also said the term 'shell company' is not defined under the Companies Act, 2013

SJVN net profit rises 22% to Rs 287.42 crore in December quarter

State-owned power producer SJVN on Monday posted a 22 per cent rise in consolidated net profit at Rs 287.42 crore in the December quarter, mainly due to higher revenues. The consolidated net profit of the company was at Rs 235.46 crore in the quarter ended on December 31, 2021, according to a BSE filing. Total income of the company rose to Rs 711.24 crore in the third quarter of the current fiscal from Rs 610.45 crore in the same period a year ago. SJVN's board has approved an interim dividend of Rs 1.15 per equity share for 2022-23. The record date for the same is fixed on February 17. In a statement, the company said it has recorded a Profit After Tax (PAT) of Rs 1,349.48 crore for April-December 2022 period, which is 37.98 per cent higher compared to the year-ago period. SJVN CMD Nand Lal Sharma said that for the third quarter standalone PAT increased 25.06 per cent to Rs 290.98 crore compared to Rs 232.67 crore posted in the same period a year ago. "These positive growth ...

Vedanta appoints industry veteran David Reed as semiconductor business CEO

Anil Agarwal-led Vedanta Ltd on Monday named industry veteran David Reed to head its semiconductor unit where it is looking to invest USD 20 billion to manufacture chips essential for mobile phones to laptops and TV sets. In an interview with PTI, Agarwal said the group is looking to start manufacturing semiconductors at Dholera in Gujarat in 2-3 years. "We will start with USD 5 billion investment and scale it up as years go by," he said. The semiconductors will be manufactured in joint venture with Taiwanese electronics company Foxconn. Vedanta holds a 63 per cent interest and the remaining is with Foxconn in the joint venture. The company plans to initially produce 40,000 wafers a month. Before joining Vedanta, Reed was with NXP Semiconductors, where he was Executive Vice President and General Manager of global operations. He moved to NXP as part of the merger with Freescale Semiconductor, where he had served as Senior Vice President for manufacturing operations. Previously, Da

BYJU's to miss group level profitability deadline, results delayed again

BYJU's will not be able to meet its March 2023 deadline to achieve group-level profitability, as it envisioned in its earnings in October last year, reliable sources said on Monday

BNPL platform Simpl introduces menstrual, adoption and pet care leaves

Simpl's leave policy states that the adoption leave is also applicable to LGBTQIA couples

Infosys fires 600 freshers after they fail internal assessment: Report

This comes at a time when hundreds of freshers are waiting for their joining dates at Infosys even though they received the offer letter months ago

Billionaire Gautam Adani's bonds are a soft target with hard assets

To know whether Adani is more likely to float than sink, bondholders are turning to rating companies, advisers and lawyers

Gautam Adani's crisis points to the big risk in India's net zero plan

Led by Adani's $70 billion pledged investment in green energy infrastructure, India's tycoons have so far committed to spend far more than the government on the energy transition

SoftBank CEO Masayoshi to skip earnings call for first time as tech slumps

The founder and chief executive of the world's largest tech investor bade farewell in November to the earnings presentations he's led for decades

US FTC is preparing potential antitrust lawsuit against Amazon.com

The allegations the agency is preparing to make and the timeline for filing a complaint are still in flux, said the people, who asked not to be named speaking about a confidential probe

Ford Motor's shares tumble as CEO says $2 bn profit left 'on table'

Ford shares fell as much as 11% Friday in New York, the biggest intraday decline since September 20

Marico Q3 net profit rises 5% to Rs 333 cr; revenue up 2.6% to Rs 2,470 cr

Home-grown FMCG major Marico Ltd on Friday reported a 5.04 per cent increase in consolidated net profit at Rs 333 crore in the third quarter that ended December 31, 2022. The company had posted a net profit of Rs 317 crore in the October-December quarter a year ago, Marico said in a regulatory filing. Its revenue from operations was at Rs 2,470 crore, up 2.61 per cent during the quarter under review, as against Rs 2,407 crore a year ago. In the third quarter of FY23, revenue from operations grew "with underlying volume growth of 4 per cent in the domestic business and constant currency growth of 8 per cent in the international business," said Marico in an earnings statement. Marico's total expenses were at Rs 2,067 crore, up 2.22 per cent in the third quarter of this financial year. Its revenue from the domestic market was up 1.87 per cent to Rs 1,851 crore in the third quarter of FY23. It was Rs 1,817 crore a year ago. "During the quarter, the FMCG sector in India showed some s

S&P Global Ratings revises outlook on Adani Ports, Electricity to negative

S&P Global Ratings on Friday revised outlook on Adani Ports and Adani Electricity to negative from stable while affirming the rating. A US short-seller report alleging significant governance issues for the Adani Group, many of which relate to disclosures and actions at the shareholder level, has triggered a sharp fall in Adani Group entities' equity and bond prices. The company has responded to the allegations and also decided to return funds from a fully subscribed USD 2.4-billion offer of shares in the promoters' flagship company Adani Enterprises Ltd due to market volatility. "There is a risk that investor concerns about the group's governance and disclosures are larger than we have currently factored into our ratings, or that new investigations and negative market sentiment may lead to increased cost of capital and reduce funding access for rated entities," S&P said in a statement. As a result, it revised the rating outlook to negative from stable on Adani Electricity and .

Adani rout eases, some relief after companies' market value almost halves

Friday was a relatively less damaging day in the stock rout that's wiped out about $112 billion from 10 Adani Group firms since US-based Hindenburg report

Centre asks Vodafone Idea to convert govt dues into equity worth $2 billion

Troubled Indian mobile service provider Vodafone Idea Ltd said the govt ordered the company to convert into equity all the interest related to payments for spectrum and other dues owed to the govt

ITC Q3 PAT up 12% to Rs 5,031 cr, declares interim dividend of Rs 6/share

Revenue from operations increased by 0.8% to Rs 17,122.15 crore from Rs 16,971.18 crore in the previous fiscal quarter