Page 35 - Companies

Wipro Lighting enters into exclusive partnership with Aura Air

Wipro Lighting has entered into an all-India exclusive partnership with Israel-based public company Aura Air, which makes air purifiers, the company said on Wednesday. The arrangement will provide Wipro Lighting exclusive access to all enterprise offerings of Aura Air for India geography, the company said in a statement. "In the post-pandemic scenario, the awareness and demand for better indoor air quality has seen an uptick in corporate and business spaces. We intend to provide these services to our existing institutional clients with exclusive access to all enterprise offerings of Aura Air for the Indian geography. We are confident in the technology and expertise Aura will bring to the table," Wipro Lighting, Vice President, and Business Head for Commercial & Institutional Business, Anuj Dhir said. Through this partnership with Aura Air, Wipro Lighting will be adding the indoor air quality management business to their portfolio. "Aura Air technology is extremely successful in ...

Vikram Kirloskar remade Indian manufacturing; his legacy is everlasting

Vikram Kirloskar, vice chairperson of Toyota Kirloskar Motor, passed away at age 64 on Tuesday

Sebi penalises 15 firms for manipulating Parichay Investments stock prices

Markets regulator Sebi on Wednesday levied fines totalling Rs 1.15 crore on 15 entities for manipulating the share price of Parichay Investments Ltd (PIL). The regulator imposed fines in the range of Rs 5 lakh to Rs 10 lakh on 15 entities. The order came after the Securities Appellate Tribunal (SAT) in its ruling in August sent the matter back to Sebi to decide the matter afresh. Earlier, Securities and Exchange Board of India (Sebi) had conducted an investigation in the trading in the scrip of PIL during July 2010 to August 2011. Pursuant to probe, it was alleged that a group of 63 connected entities referred to as 'Soni Group' were dealing in the shares of several companies and had contributed to the price and volume. Their trading pattern was analysed and it was observed that 'Soni Group' had traded in 266 scrips and out of them in five scrips (including PIL) their trades accounted for 20 per cent or more during July-October, 2010. Out of the 63 entities constituting the 'Soni

Adani Power extends timeline to Dec 31 for complete acquisition of DB Power

Adani Power on Monday said that the timeline for the completion of the Rs 7,017-crore deal to acquire thermal power assets of DB Power Ltd has been extended by one month till December 31, 2022. Earlier, the company had extended the timeline for completion by a month till November 30, 2022. "Parties to the proposed transaction have mutually agreed to further extend the long stop date as December 31, 2022, for achieving the closing/completion," a BSE filing said. Earlier in August this year, Adani Power had informed the bourses that it has agreed to acquire DB Power Ltd (DB Power), which owns and operates a running 2x600 MW thermal power plant at district Janjgir Champa in Chhattisgarh. DB Power has long and medium-term power purchase agreements for 923.5 MW of its capacity, backed by fuel supply agreements with Coal India Ltd, and has been operating its facilities profitably. The initial term of the MOU (memorandum of understanding) shall be till October 31, 2022, which may be exte

Reliance Capital COC rejects all bids, decides liquidation: Sources

The Committee of Creditors of Reliance Capital, in its meeting held on Wednesday, has decided to reject all the binding bids that it received from the bidders on Monday

NDTV saga: Who are the three new directors on the board of RRPR Holding

Sudipta Bhattacharya, Sanjay Pugalia, Senthil Chengalvarayan were appointed as the Roys stepped down

From Roys to Adani: How NDTV promoter firm RRPR changed hands in 3 months

Tuesday night development completes Round 1 of Adani group's acquisition plan; Round 2 to conclude next week

SaaS firm Prismforce raises $13.6 mn in funding for business expansion

The Mumbai-based company enables IT companies to build supply chains, deliver projects

Toyota Kirloskar Motor Vice Chairman Vikram Kirloskar passes away at 64

Vikram Kirloskar, a pioneer of India's automotive industry, played a key role in bringing Japan's Toyota Motor Corp to India in the late 1990s

Tata Group in talks to buy Wistron's Apple facility in Karnataka: Report

The facility in Narasapura is Wistron's only plant in India and it is used to manufacture devices and components for Apple

HSBC to sell Canada business to RBC for $10 billion, says report

The sale comes as HSBC pursues a strategy of focusing its resources on its core markets, amid pressure from its biggest shareholder Ping An to improve its performance

Aditya Birla Sun Life AMC can now act as registered fund management entity

Aditya Birla Sun Life AMC on Tuesday said it has received an approval from IFSCA to act as a registered fund management entity and carry out Alternative Investment Fund (AIF) and Portfolio Management Services (PMS). The approval has been granted by the International Financial Services Centres Authority (IFSCA) on November 28, the asset management firm said in a statement. The firm can carry out services through a branch office in International Financial Services Centre (IFSC) in Gujarat's GIFT City. The company's move to set up a new unit at the Gujarat International Finance Tec-City (GIFT City) is a strategic step towards the growth of its international business, to expand its reach and service global clients, including NRIs for investing in India. "GIFT City is emerging as a financial gateway of a country for investment in India and globally. Our international business at GIFT City will be an integral part of that journey. In a phased manner, India's dedicated institutional manda

Brokerages positive about Escorts Kubota's medium-term growth plans

Near-term worries for the stock include volume uncertainty, premium valuations

Muted response to RCAP bid process as only 5 companies submit bid

The final round of Reliance Capital's bidding process has received a poor response from the bidders as the big players like Adani and Tata have not bid for the company or its multiple subsidiaries

BNP Paribas Arbitrage sells 1.8 mn shares of Wipro worth Rs 73 crore

BNP Paribas Arbitrage on Tuesday offloaded over 18 lakh shares of IT major Wipro for Rs 73 crore through an open market transaction. BNP Paribas Arbitrage sold 18,00,164 shares of the company at an average price of Rs 405 apiece, according to the block deal data available with the BSE. This took the deal value to Rs 72.90 crore. On Tuesday, Societe Generale picked up the shares of the company. Shares of Wipro closed 0.12 per cent lower at Rs 405.20 per scrip on the BSE.

Fosun plans to sell of India's $3.8 billion drug maker Gland Pharma

Fosun Pharma, a listed arm of Chinese conglomerate Fosun International Ltd., has been working with an adviser as it informally gauges interest in its controlling stake in Gland, the people said

Hinduja group, Torrent, Piramal, Oaktree, bid for Reliance Capital

No takers for life and general insurance businesses of the bankrupt company, say sources

Grounded Jet Airways' cabin crew association moves NCLT for liquidation

Banks oppose consortium plea for handover of the company

Genesys appoints Paypal's Deepa Madhavan as Country Head for India

Cloud customer experience and contact centre solutions provider Genesys on Tuesday announced the appointment of Deepa Madhavan as the India-Country Head. Deepa Madhavan, in her new role would continue the development of Genesys cloud technologies and engagement of teams across all functions in Genesys India, a company statement said. She would manage, support and grow the company's research and development centre in Chennai, the second largest such facility for Genesys globally. The Chennai centre hosts employees working in product management, professional services, customer care, engineering, finance and sales and other support functions. "Deepa joins us at a time when we are pushing forward with our focus on cloud innovation, maximising customer value and driving business growth. Deepa is a people-centric leader with the ability to successfully grow and build high performing teams from the ground up," Genesys managing director and vice-president ASEAN and South Asia, Stephen Hami

Pact inked between Hyundai, SK On for EV battery partnership in US

Hyundai Motor Group said on Tuesday it has signed an initial pact with car battery maker SK On to secure batteries for its dedicated electric vehicle (EV) plant in the United States.