Page 23 - Companies

Results preview: 2W, PV auto firms to see muted sequential growth in Q3

Industry witnessed volume decline in the quarter owing to weak demand after the festive season, says one note

Net hiring in India's top four IT firms drops by 97% to 1,940 in Q3FY23

Tata Consultancy Services, Wipro, Infosys and HCL Tech- reported a combined net addition of 1,940 employees in the quarter that ended December 2022

Companies sell their businesses in Russia, complying to sanctions amid war

The moves, part of a broader corporate exodus from the country, are likely to stir concerns that Russian firms and institutions are snapping up prized assets for a bargain

Lenders select Ramkrishna Forgings resolution plan for ailing JMT Auto

Auto component manufacturing company undergoing insolvency proceedings

Plenty of scope to generate and sell carbon credits in India: IEX CMD

In a Q&A, Satyanarayan Goel, CMD of the exchange, dwells on the current and future power distribution scenario in India and his plans to set up an International Carbon Exchange

Strong US sales momentum may drive further gains for Zydus Lifesciences

Market share gains in the Indian market and margin expansion are other positives

BoI's Q3 net profit rises 12% YoY to Rs 1,151 cr on improvement in NIM

In a filing with BSE, BoI said its net interest income (NII) was up 64 per cent YoY in Q3 to Rs 5,596 crore

ITC to acquire 100% shares of startup 'Sproutlife Foods' over 3-4 years

Sproutlife Foods Private Limited is a startup engaged in the manufacturing and sale of food products under the trademark 'Yoga Bar'

73% CEOs globally expect eco growth to decline over the year: PwC survey

In the most pessimistic outlook in more than a decade, a global survey of CEOs on Monday showed 75 per cent of them expecting the global economic growth to decline over the next 12 months. Releasing the annual survey on the first day of the World Economic Forum Annual Meeting here, PwC said this is a significant departure from the optimistic outlook of 2021 and 2022 when more than two thirds thought economic growth would improve. This is the most pessimistic CEOs have been regarding global economic growth since PwC began asking this question 12 years ago. The survey further showed that nearly 40 per cent of CEOs do not believe their organisations would be economically viable in 10 years if they do not transform. Inflation, macroeconomic volatility and geopolitical conflict ranked as the top global threats while cyber and health risks fell from a year ago. The survey also showed that companies are cutting costs but do not plan yet to reduce headcount or salaries in their fight to .

Federal Bank Q3 net profit up 54% at Rs 803.61 cr, asset quality improves

Net interest income increases 27.14% year-on-year to Rs 1,956.53 crore in, says private sector lender

Statutory auditors to submit annual transparency report, says NFRA

Salaries of partners; audit, non-audit fees; details of network firms among information to be shared

Swiggy announces free ambulance service for all delivery executives

Food delivery firm partners with Dial4242 Ambulance Services for 'industry-first initiative'

Fitch downgrades Azure Power Energy's rating on governance concerns

There is lack of clarity in impact of holding company's internal controls and compliance framework: Rating agency

Logistics management firm Locad raises $11 million in Series-A funding

Locad's logistics engine works with brands such as Levi's, Reckitt Benckiser, and Emma Sleep

Parents, cos bat for 'responsible gaming' as industry nears formalisation

Parents are worried, but the industry is working to establish mechanisms promoting 'responsible gaming' in India

Fractal Growth Partners eyes $250 mn fund to invest in Indian tech startups

"It's targeting investments of $10 million to $15 million per target company and plans to close the investments in about five years"

Twitter workers forced to drop class-action suit over severance packages

An attorney who said she's filed at least 300 such claims said the process could be costly for Twitter

Apple cuts CEO Tim Cook's pay by more than 40% to $49 million in 2023

Apple Inc. is cutting Chief Executive Officer Tim Cook's compensation by more than 40% to $49 million in 2023, citing investor guidance and a request from Cook himself to adjust his pay.

Whirlpool of India MD Vishal Bhola resigns, CEO Eswar to take charge

Whirlpool of India on Friday said its Managing Director Vishal Bhola has resigned from the post. The company has appointed Narasimhan Eswar as Managing Director (MD) and Additional Director. Eswar joins Whirlpool of India from Ki Mobility Solutions, where he is currently holding the position of CEO and President, according to a regulatory filing. At its meeting held on Friday, the company's board accepted the resignation of Bhola. The company said its current MD will serve till April 3, 2023. Following this, Eswar's appointment will come into effect. "He (Bhola) has decided to leave the company to pursue other interests and will be relieved from the services of the company as Managing Director. "Eswar's appointment is for a period of five years starting from April 4, 2023, subject to necessary approvals and formalities," Whirlpool of India said. He has around 30 years of experience and has worked mostly with brands such as Procter & Gamble, and then Reckitt Benckiser in leadersh

Superbikes revv up as Indian market matures for high-powered rides

Ducati plans nine new bikes, 2 new showrooms; BMW Motorrad looks to 500 cc models