Page 34 - Companies

These Chinese carmakers bought their own ships to make exports smooth

With the vessels in question not expected to come online for several years yet, it's a bold bet on lasting global consumer demand for Chinese cars

Adani poised to be largest shareholder in NDTV as open offer subscribed 32%

Billionaire Gautam Adani's group has found investors willing to sell over 53 lakh shares of NDTV despite the deep discount to the stock's current trading price, giving it the rights - which it may or may not exercise - to nominate a chairman of the broadcaster. The open offer, made after Adani group acquired a little known firm that gave it an indirect holding over 29.18 per cent stake in New Delhi Television (NDTV), closes on December 5, according to a stock exchange notification. Against the offer to buy 1.67 crore shares, or 26 per cent of equity - from NDTV's minority investors at a price of Rs 294 apiece, Adani group has received offers for 53.27 lakh shares, according to data available on the National Stock Exchange (NSE) website. Corporate investors have offered the most at 39.34 lakh shares while retail investors have offered a little over 7 lakh shares. Qualified institutional buyers (QIBs) have tendered 6.86 lakh shares, according to the NSE data which did not identify ...

Samsung, Zigbang partner to unveil unique UWB-based smart door lock

Tech giant Samsung has partnered with proptech startup Zigbang to unveil a smart door lock with an Ultra-Wide Band (UWB) chip.

IBBI chief bats for putting valuation of IBC entities in public domain

The board has amended its regulation to allow IPEs to register as insolvency professionals and perform all their functions, including managing a company's operations

Global FinTech firm FIS issues pink slips to over 400 employees in India

Move comes a year after firm's plans to hire 10,000 people in the country; more likely to be axed in restructuring exercise; final settlement likely within five days from separation date

Centre finalises easy template for online filing of consumer complaints

The government on Friday said it has finalised a template for online filing of consumer complaints through e-daakhil, which will lead to easy admission of genuine cases in the consumer commissions. Addressing a day-long workshop in Guwahati on consumer protection-related issues in the north eastern region, Consumer Affairs Secretary Rohit Kumar Singh said: "...the template will be very soon deployed and proliferated in the system and thereby commissions may expect a rise in number of cases being filed through e-daakhil throughout the country." The template comprises standard fields and once all the mandatory information is provided, commissions can easily admit the genuine cases, he said. There has been a steep rise in consumer grievances related to the e-commerce sector on the National Consumer Helpline (NCH). Out of the 90,000 complaints registered on NCH every month, 45-50 per cent of the total complaints pertain to e-commerce, an official statement said quoting the ...

Air India ropes in Futurebrands to redraw its branding strategy: Report

Futurebrands has earlier worked on rebranding the American Airlines and luxury auto brand Bentley

Want a four-day work week? Show the results of research to your boss

Data released Tuesday show the organizations involved registered gains in revenue and employee productivity, as well as drops in absenteeism and turnover

Elon Musk's Neuralink hopes to implant computer in human brain in 6 months

In typical fashion for an Elon Musk venture, Neuralink is already bounding ahead, aiming implants at other parts of the body

Online British fashion retailer Boohoo partners with India's Myntra

Online fashion retailer Boohoo said on Wednesday it was entering the Indian market through a deal to feature its brands on Walmart Inc-owned online fashion site Myntra

CIEL HR acquires talent assessment company, plans IPO in Q2 of FY24

Skilling solutions firm is in talks to acquire two other professional staffing companies before its goes public

Rescuing companies before it is too late

The longevity of companies is in danger today. It is as much the responsibility of the State as of the stakeholders to prevent their premature death

Honda Cars India's domestic wholesales up 29% in Nov to 7,051 units

Honda Cars India on Thursday said its domestic wholesales increased 29 per cent to 7,051 units in November 2022 as compared to the same month last year. The company had dispatched 5,457 units to dealers in November 2021. Exports last month stood at 726 units as compared with 1,447 units in the year-ago period. Riding on the back of relatively better economic prospects, the demand for cars has continued well post the festive season and this momentum is also visible in our sales numbers, Honda Cars India Director, Marketing and Sales Yuichi Murata said in a statement. The company is positive that the trend will continue and it will be able to cater to the growing demand as the country goes back to the pre-pandemic mode, he added.

TVS Motor sales increases marginally by 2% to 277,123 units in Nov

TVS Motor Company on Thursday said its sales increased by 2 per cent to 2,77,123 units in November. The company had dispatched 2,72,693 units in the year-ago period. The domestic two-wheeler sales registered a growth of 9 per cent increasing to 1,91,730 units last month as against 1,75,940 units previous year. The company said its total exports stood at 84,134 units last month as compared with 96,000 units in the same month last year.

Mahindra & Mahindra posts 56% rise in domestic passenger vehicle sales

Mahindra & Mahindra on Thursday reported a 56 per cent rise in domestic passenger vehicles sales at 30,392 units in November 2022. The company had sold 19,458 units in the same month last year, M&M said in a regulatory filing. Utility vehicle sales were at 30,238 units as against 19,384 units in the year-ago month, up 56 per cent. Sales of cars and vans were higher at 154 units as compared to 74 units in the same month last year. M&M President, Automotive Division Veejay Nakra said the growth in November sales was on the back of robust demand across the company's product portfolio. "The supply chain situation continues to be dynamic due to continuing international disruptions. We are keeping a close watch and are taking appropriate steps," he added. M&M said its total commercial vehicle sales were at 19,591 units last month. Total tractor sales grew 10 per cent at 30,528 units as against 27,681 units in the year-ago month, the company added. Domestic tractor sales ...

Maruti Suzuki India records 14% increase in Nov sales at 159,044 units

The country's largest carmaker Maruti Suzuki India on Thursday reported 14 per cent increase in total wholesales at 1,59,044 units in November. The company had dispatched 1,39,184 units to dealers in November 2021, MSI said in a statement. Last month, the company's domestic sales rose 18 per cent to 1,39,306 units as against 1,17,791 units in November 2021, it added. Sales of mini cars, comprising Alto and S-Presso, increased to 18,251 units as compared with 17,473 in the same month last year. Similarly, sales in the compact segment, including models such as Swift, Celerio, Ignis, Baleno and Dzire, rose to 72,844 units as against 57,019 cars in November 2021. Sales of mid-sized sedan Ciaz increased to 1,554 units as compared with 1,089 units in November last year. Utility vehicle sales, including Vitara Brezza, S-Cross and Ertiga, rose to 32,563 units as compared with 24,574 vehicles in the year-ago month, MSI said. Exports declined to 19,738 units as against 21,393 units in the

Reliance most valued Indian firm; 2 Adani units join top ranks: Study

Top 500 companies in Burgundy Private Hurun India's list are worth $2.7 trillion

Shri Bajrang Alliance-owned Goeld aims 59% revenue growth in FY23

Integrated foods company Shri Bajrang Alliance, that operates the brand Goeld, is eyeing 59 per cent revenue growth to Rs 270 crore in 2022-23, on the back of growing demand for frozen food products, a top company executive has said. "We forayed into the 100 per cent vegetarian frozen food products segment by launching Goeld in 2020. In 2021-22, we had a revenue of Rs 170 crore and with growing demand for all our product segments, we are expecting the topline to be Rs 270 crore in this financial year," Shri Bajrang Alliance Ltd Executive Director and CFO, Archit Goel told PTI over phone. To meet the growing demand, the company is planning on increasing its production capacity in the frozen paratha category as well as introducing more and more products in the snacks segment. "As many of the segments are labour intensive, we are also planning to add more workforce in line with our expansion plans," he said. The company is planning to increase its capacity of parathas and naans (India

Password manager LastPass hacked again, second time this year: CEO

Karim Toubba, the CEO of popular encrypted password manager LastPass, has admitted the company is investigating a security incident after its systems were compromised for the second time this year

Online food delivery platform DoorDash announces 1,250 employee lays offs

Online food delivery platform DoorDash on Wednesday said it is laying off around 1,250 employees.