Page 32 - Companies

Waiting for a thaw: Four charts give a peek into the funding winter

The other trend was acquisitions. Many acquired to expand rather than invest to grow organically. Of course, this period did not see a single unicorn

Drug regulators, pharma firms step up action on fake and substandard drugs

Detection of spurious and substandard drugs was up by 47% from 2020 to 2021, according to an ASPA Report

Tata Projects to build EPC solutions as it steps up green hydrogen focus

MD Vinayak Pai says firm will not deploy its own capital in this space, but will work with customers who are ready to invest in these projects

Shipping Ministry seeks advice on letting APSEZ bid for govt tenders again

Ministry is concerned about wider repercussions of Supreme Court decision to revoke the firm's disqualification

Myntra gets 130,000 first-time shoppers from non-metros on Day 1 of sale

Fashion e-tailor Myntra on Sunday said it recorded 1.3 lakh first-time shoppers from non-metros on the first day of its flagship End of Reason Sale (EORS), with customers from Jaipur, Lucknow and Patna placing the most orders in terms of value. According to experts, there has been a marginal increase in the average spending of online shoppers during the last festive season of Diwali and the growth in number of new customers has been key to the business growth of e-commerce platforms. "The opening day of the event saw 130k first-time shoppers coming from non-metros. Over half of the overall shoppers from the initial day of the fashion event were women," Myntra said in a statement. On the opening day, Bengaluru shopped the most among metros, followed by Delhi, Mumbai, Hyderabad, and Pune. The top five non-metro cities that shopped in this period were Jaipur, Lucknow, Patna, Indore and Guwahati. "Men and women have flanked the platform with equal enthusiasm, with a multitude of shoppe

Rs 10 lakh penalty imposed on Glaxo Smith Kline for misleading ad

The Central Consumer Protection Authority (CCPA) has imposed a penalty of Rs 10 lakh each on Glaxo Smith Kline and Naaptol for misleading advertisements of their products.

Israeli company Playtika likely to layoff about 600 employees worldwide

Israeli mobile games company Playtika will cut 12 to 15 per cent of its workforce. About 600 employees worldwide will be dismissed including 180 in Israel, the media reported

Appliance makers expect robust growth from heating products this winter

Appliance makers are expecting a high double-digit growth in sales of heating products such as geysers and room heaters on hopes of a good winter and are ramping up production capacity to meet the demand. The manufacturers are seeking to cash in on the onset of winter with new-tech products like Internet of Things (IoT)-enabled geysers, besides tankless water heaters and a range of premium room heaters with oil-filled radiators. Besides, the makers are offering convenience, durability, and aesthetics with upgraded appliances in different sub-categories ranging from mass to premium. Crompton Greaves Consumer Electricals Ltd (CGCEL) is looking at 20 per cent growth in both instant and storage water heaters over last year. It "is looking at over 70 per cent growth in room heaters over last year," said CGCEL Vice President - Appliances Anand Kumar N. The company has introduced seven models, including the Solarium Cube IOT series and Solarium Care series which provide customised bath m

Musk's Twitter selling espresso machine, office fridge; bids start at $25

After Elon Musk revealed that Twitter spends $13 million a year on food service at its San Francisco headquarters, the company is selling at least 265 kitchen appliances and office furniture online

OYO records 83% YoY growth in business travel, Delhi is most-booked city

Younger business travellers such as college graduates and new entrants into the workforce, such as traders and small enterprises, played a key role in the overall business travel recovery process

WeWork India to focus on 6-8 cities, expects to be valued at $2 bn: CEO

Co-working space company 'would love' to go public but has not decided about that yet: Karan Virwani

Letter from Foxconn founder pushed China to ease Covid restrictions: Report

The letter from Foxconn's founder Terry Gou was sent a month ago when the Apple supplier's factory in Zhengzhou was rocked by protests

JSPL acquires Monnet Power for Rs 410 cr through insolvency process

Monnet Power has a 1050 MW under-construction plant in Odisha's Angul

Reliance General Insurance seeks Rs 600 crore from bankrupt parent

Profit-making subsidiary's request complicates matters for Reliance Capital's lenders that have to decide matter Friday

Air India to spend $400 mn to refurbish Boeing 777s and 787 fleet

Carrier will add new seats and best in-flight entertainment across all classes

Sun Pharmaceuticals' Halol plant gets 'import alert' from USFDA

The USFDA had imposed an import ban on the Halol plant in December 2015 too

Microsoft Teams adds free communities feature, plans to take on rivals

The new feature will allow users to easily post messages to everyone in the group, organize events and add them to the community calendar

We Founder Circle announces 2 angel funds for early-stage start-ups

Mumbai-based We Founder Circle has in 23 months invested in more than 70 start-ups

Uniqus Consultech raises $12.5 mn, eyes $100 mn revenues in next 5 years

The company plans to invest the funds raised in technology and scaling up business across India, US and Middle East

Ashok Leyland appoints Shenu Agarwal as new managing director, CEO

Shenu joins Ashok Leyland from Escorts Kubota Ltd, where he was president