Page 21 - Indian Companies

Singapore SPACs need to go hunting in India, Indonesia for promising firms

Singapore has seen just three initial public offerings this year, garnering less than $250 million.

ABFRL targets to hit Rs 25,000 cr revenue after 5 yrs: Kumar Mangalam Birla

Leading fashion retail firm Aditya Birla Fashion and Retail Ltd (ABFRL) is targeting to hit Rs 25,000 crore revenue after five years, according to its Chairman Kumar Mangalam Birla.

Nearly 47% closed cases under IBC in liquidation till June, says IBBI

Nearly 47% closed under the insolvency law ended up in liquidation till the end of June but economic value in majority of the cases had eroded even before commencement of the corporate insolvency

Listed private mfg firms' sales soar 75% in Q1 on low base: RBI data

Sales of 1,647 listed private manufacturing companies recorded "extraordinarily high" growth of 75% in the first quarter of FY'22 mainly due to a very low base in the pandemic-hit year-ago period

Indian companies' foreign borrowing jumps 60% in July to $3.43 bn

Indian companies raised over $3.43 billion from foreign markets through external commercial borrowings (ECBs) in July this year, up by nearly 60 per cent from a year ago, RBI data showed on Thursday

Majority of corporate employees want to WFH at least once a week: Survey

Nearly 80 per cent of corporate employees want to work from home at least once a week post-COVID, according to a survey by property consultant JLL India

Jaipur company declares 'Money Heist' holiday ahead of final season release

A Jaipur-based private firm has announced a 'Netflix and Chill holiday' for all its employees to watch the show the day it starts streaming

Contributed Rs 2.74 trillion to exchequer in past 10 years: Vedanta

Natural resources major Vedanta on Tuesday said it has made a contribution of Rs 2.74 lakh crore to the exchequer in the past 10 years. During 2020-21, Vedanta's contribution to the exchequer was Rs 34,562 crore, which accounts for 40 per cent of the consolidated turnover, the company said in a statement. "Over the past 10 years, the company has made a total contribution of Rs 2.74 lakh crore to the national exchequer," it said. Despite the challenges posed by the COVID-19 pandemic during the fiscal, Vedanta's tax contribution in FY21 was nearly Rs 550 crore higher than the previous financial year. The tax contribution includes corporate income taxes, royalties, profit-oil, and significant indirect contributions by way of withholding taxes and indirect taxes, it said. Vedanta added it is the only corporate in the country to come out with such a detailed report that breaks down key components like economic value generated, taxes paid and contribution by each of the businesses. In

IPO frenzy continues; 2 public issues on September 1 to garner Rs 2,465 cr

The IPO rush will continue in September with two more companies Vijaya Diagnostic Centre and Ami Organics launching their initial share-sales on Wednesday to raise a total of Rs 2,465 crore. This comes after eight companies including Devyani International, Nuvoco Vistas Corporation and CarTrade Tech floated their initial share-sales last month to mobilise Rs 18,243 crore. So far in the current fiscal, a total of 20 companies have mopped up more than Rs 45,000 crore through IPOs. This is much higher than Rs 31,277 crore raised by 30 firms in the entire 2020-21. Going forward, market analysts expect the IPO environment to remain buzzing during the entire financial year 2021-22. The initial public offer (IPO) of healthcare chain Vijaya Diagnostic Centre and specilalty chemicals maker Ami Organics will open for subscription on September 1 and conclude on September 3. Vijaya Diagnostic's IPO is entirely an offer for sale of 35,688,064 equity shares by the promoter, S Surendranath Reddy

Rs 1-trillion m-cap club nears half-century; 19 companies join in 2021

Market experts said this was a natural consequence of the sustained gains in the market

It's important how you treat your co-workers: HCL co-founder Arjun Malhotra

To become a successful entrepreneur, it is important how one treats their co-workers, HCL co-founder Arjun Malhotra told Delhi government school students on Thursday.

Govt may announce overseas listing rules in next Budget: Revenue Secretary

Direct listing of securities overseas by Indian entities is allowed but there are certain issues which need to be sorted out for this to become a success, he said, without elaborating on the hurdles

Keep pace with changing technology: Revenue Secretary to automakers

Tarun Bajaj asked automakers to do a deeper analysis on why car sales are not going up even though income levels of people are rising, and exhorted the industry to keep pace with changing tech

Five out of the eight companies list below issue price in August

Aptus Value Housing Finance, Chemplast Sanmar latest to make tepid debuts

Pyxis Holdings acquires majority stake in Godrej Housing, Ensemble Holdings

Godrej Industries on Tuesday said its subsidiary Pyxis Holdings has acquired majority stake in group firms Godrej Housing Finance Ltd (GHFL) and Ensemble Holdings and Finance Ltd (EHFL).

India Inc earnings losing momentum as demand recovery falters, shows Q1

Sequentially, combined net profit down 12.4%, net sales by 7.8%

Decoded: Why commerce minister Piyush Goyal is peeved at some in India Inc

Indian industry would import even if it helped them save just 10 paise in the finished cost of goods, and then lobby to avoid the levy of anti-dumping duties on such imports, Goyal said

Overall Covid situation did indirectly impact hiring: ABB's Sanjeev Sharma

In a Q&A, the MD of the engineering giant says each of the 18 divisions of the company has carved out its plan for business expansion where it sees merit

Suzlon Energy posts consolidated profit of Rs 3.64 crore in June quarter

Suzlon Energy has reported a consolidated net profit of Rs 3.64 crore for the quarter ended June. The company had reported a consolidated net loss of Rs 398.86 crore in the same quarter of the previous fiscal, it said in a BSE filing. Total income rose to Rs 1,148.61 crore in the quarter from Rs 528.22 crore in the same period a year ago. The company also said the agenda pertaining to the enabling resolution for issue of securities to an extent of Rs.1,000 crore has been dropped. "The Q1 of FY22 was impacted by the second wave of the Covid-19 pandemic, making it difficult to ramp up execution. Rising global demand has disrupted the supply chain impacting availability and prices across the value chain. "Steep increase in steel prices by nearly 73.8 per cent in a year has adversely impacted our margins. Despite that, we are keeping our operations on track and continuing to build on the foundation that we created in FY21. We have maintained our quarter on quarter (QoQ) performance a

Swiss PE Partners Group to pick up controlling stake in ACT at $1.2 bn

Swiss private equity fund Partners Group is set to pick up a controlling stake in Bengaluru-headquartered wired broadband player Atria Convergence Technologies at an enterprise valuation of $1.2 bn