Page 56 - Companies

Hero Electric under DRI lens for evading customs duty worth Rs 330 crore

Hero Electric reportedly ordered fully assembled vehicles into the country but later disintegrated them and sent them to different ports across the country to evade tax

Shell Plc's new CEO Wael Sawan: Here are some facts on the new boss

Shell named Wael Sawan, head of its integrated gas and renewables division, as the group's chief executive officer, replacing Ben van Beurden

Large companies' assets at growing risk of climate impact: S-P Global

(Reuters) - Over 90% of the world's largest companies will have at least one asset highly exposed to the physical impacts of climate change by the 2050s, data and analysis from index and ratings provider S&P Global showed on Thursday.

Three entities offload over 4 mn PVR shares worth Rs 759.14 crore

Three different entities have offloaded 40.45 lakh shares of multiplex operator PVR on Thursday that are worth Rs 759.14 crore through open market transactions. Plenty Private Equity FII I sold 7,62,499 shares of the company at an average price of Rs 1,877.14 apiece, according to bulk deal data available on the BSE. Plenty Private Equity Fund I offloaded 10,76,259 shares of the firm at an average price of Rs 1,887.04 and Gray Birch Investment sold 22,06,743 shares at Rs 1,871.18 apiece. Gray Birch Investment sold its entire holding in the firm. As per the company's June quarter shareholding pattern available on the BSE, Gray Birch Investment held 22,06,743 shares or 3.61 per cent as public shareholder, while Plenty Private Equity FII I held 15,24,998 shares or 2.50 per cent stake in PVR. Plenty Private Equity Fund I held 21,52,517 shares or 3.52 per cent stake in the company. Shares of PVR fell 4.40 per cent to settle at Rs 1,844.50 apiece on the BSE.

Number of deals fell 40% in Aug, M&A volume worst since May 2020: Report

Value of deals down 52% y-o-y as investors turn cautious, says study by Grant Thornton Bharat

Shell CEO Ben van Beurden to leave at year-end; gas chief Sawan to step in

Shell Plc Chief Executive Officer Ben van Beurden will step down at the end of this year after almost 40 years at the company

Reliance Retail to seek doubling of borrowing limit to Rs 1 trillion

According to the Reliance Retail's annual reports, the company will seek shareholders' approval in the September 30 annual general meeting

YES Bank to sell all its NPAs to JC Flowers ARC by December: Report

YES Bank's gross NPAs stood at 13.4 per cent at the end of June. The gross figures stood at Rs 27,747 crore. In June 2021, the NPAs stood at 15.6 per cent

India Inc hesitant to invest as doubts remain on demand recovery: Analysts

They say high commodity prices, geopolitical uncertainty, and uneven consumer demand may have prompted firms to defer capex plans

Vedanta to create hub to manufacture iPhones, TV equipment in India

Vedanta on Tuesday announced a $19.5 billion investment with Taiwan's Foxconn to set up semiconductor and display production plants in Gujarat

Flipkart announces The Big Billion Days sale from Sep 23: All details here

Flipkart's flagship event The Big Billion Days will start on September 23 and will go on until September 30

Amazon announces 'Great India Festivals' sale to begin on September 23

As India is set to enter its festive season, Amazon.in, country's leading e-commerce platform is set to launch its annual festive sale.

Deep tech start-up Awiros raises $7 mn in series A from Inflexor, Exfinity

Funds will be used by the start-up for product enhancement, building its own developer community and to accelerate growth and global expansion

FinMin okays converting Vodafone Idea's Rs 16,100 cr dues to govt equity

The government of India will own nearly 33% of Vodafone Idea's equity, and become the single-largest shareholder if the deal goes through

Essential medicines list updated, adds 34 new drugs and drops 26

Medicines to treat diabetes, HIV, TB, contraceptives, hormonal medicines included in National List of Essential Medicines

Consumption trends signal strong FY23 for mall operator Phoenix Mills

Company's recovery and expansion after impact of Covid-19 expected to improve rentals and occupancies

Japanese retailer Uniqlo posts profit within 3 yrs of operations in India

Japanese apparel retailer Uniqlo's Indian unit has turned profitable within three years of its operations. Uniqlo India Pvt Ltd, which opened its first store in October 2019 here, reported a profit after tax (PAT) of Rs 21.49 crore for FY22, according to data provided by business intelligence platform Tofler. Its income for the financial year ended March 31, 2022, was at Rs 391.7 crore, up 63.77 per cent from the previous year. Uniqlo India had reported a net loss of Rs 36.19 crore on a revenue of Rs 239.17 crore for the financial year ended on March 31, 2021. Comments from Uniqlo India could not be obtained by the time of filing of the story. Uniqlo India is expanding the network of its retail stores. For this, the company is in the process of identifying strategic locations in both metro and non-metro cities. The company introduced its official online store UNIQLO.com in India last year to strengthen its presence in the e-Commerce segment. Uniqlo is a brand of Fast Retailing, a

HCL Tech lays off over 300 globally working on Microsoft projects

Company silent on layoff details, but sources say those asked to go are from India, Philippines and Guatemala

'No Double Lives': Infosys email warns employees against moonlighting

IT services firm's warning prompts non-profit group to say what 'employees do outside working hours is their prerogative'

How a startup in Pakistan folded just a year after raising $85 million

Airlift started by operating vans and small buses used by office workers and students. When that business slowed during the pandemic, the company pivoted to quick commerce