Page 3 - Private Companies
Jawahar Goel quits as Dish TV director, will step down at Sept 26 AGM
Yes Bank, which holds 25% in Dish TV, has been pushing for a board revamp, including removal of Goel, Narang and others
 "Jawahar Goel quits as Dish TV director, will step down at Sept 26 AGM")
Peerless group poised for growth, targets Rs 1,000 crore turnover
PGFI's revenues for the year ended March 31, 2022, had stood at around Rs 498 crore while profit for the year was at 102.76 crore. But pre-Covid, turnover was in the region of Rs 535 crore
 "Peerless group poised for growth, targets Rs 1,000 crore turnover")
US private sector witnessed slower job growth in August, says report
Private companies in the US added 132,000 jobs in August, indicating a slower growth in a tight labour market, a payroll data company said in a report
 "US private sector witnessed slower job growth in August, says report")
Prep for curtailed lifestyle change at start: Entrepreneur Munish Randev
Munish Randev, founder and CEO, Cervin Family Office and Advisors, shares what it takes to start a new business
 "Prep for curtailed lifestyle change at start: Entrepreneur Munish Randev")
Most companies floated in Bengal after demonetisation vanished: Report
A number of companies floated in West Bengal immediately after demonetisation period have been wound up in the past five years, as per Income Tax department sources.
 "Most companies floated in Bengal after demonetisation vanished: Report")
Tata Motors' Q1 loss widens to Rs 5,007 cr amid chip woes, China lockdown
Losses at the UK subsidiary widened to £482 million, from £286 million, as JLR retail sales fell 37 per cent to 78,825 units from the year-ago quarter
 "Tata Motors' Q1 loss widens to Rs 5,007 cr amid chip woes, China lockdown")
Hero MotoCorp selects Accenture to enhance supply chain, reduce costs
Accenture will use its zero-based supply chain approach to facilitate Hero MotoCorp's cost optimisation efforts
Vedanta seeks shareholder nod for related-party deals worth Rs 8,661 cr
Three resolutions have been listed on the agenda of the company's annual general meeting (AGM), to be held on August 10, involving subsidiaries
 "Vedanta seeks shareholder nod for related-party deals worth Rs 8,661 cr")
UAE-based billionaire Yussuf Ali's Lulu Group enters UP with supermarket
Known for its sprawling business interests worldwide, billionaire Yussuf Ali-led Lulu Group is now entering northern India with one of the largest supermarkets in Uttar Pradesh
 "UAE-based billionaire Yussuf Ali's Lulu Group enters UP with supermarket")
UAE's Lulu Group expands in country of its founder Yusuff Ali
Abu Dhabibased supermarket chain Lulu Group opened a mall in Lucknow on Sunday as it expands in the country of its founder Yusuff Ali.
 "UAE's Lulu Group expands in country of its founder Yusuff Ali")
Invact Metaversity CEO Maheshwari steps down, will explore other avenues
The company has been in news as both the founders, Maheshwari and Tanay Pratap, had differences on how to run the firm
 "Invact Metaversity CEO Maheshwari steps down, will explore other avenues")
Govt wants private companies to set up new manufacturing units fast
The government wants new domestic companies to set up their manufacturing units in India fast and hence the concessional tax rate of 15 per cent has been extended by a year till March 2024
 "Govt wants private companies to set up new manufacturing units fast")
Strategic divestment to get tax deduction for previous losses
However, this relaxation would cease to exist after the private company stops holding 51 per cent in the erstwhile public sector company after strategic disinvestment
 "Strategic divestment to get tax deduction for previous losses")
Negligible subsidy regime widens doors for pvt firms to expand domestic LPG
Reliance Gas, GoGas, and Aegis Gas could step up
 "Negligible subsidy regime widens doors for pvt firms to expand domestic LPG")
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
 "Listed private mfg firms' sales soar 75% in Q1 on low base: RBI data")
Gadkari asks private players to come forward for developing social bonds
Union Minister Nitin Gadkari on Monday asked all private sector entities to come forward for the development of social bonds
 "Gadkari asks private players to come forward for developing social bonds")
PAG to invest Rs 1,054 cr for majority stake in contract manufacturing firm
Vishal Shah will retain a significant minority stake in Acme and continue as managing director and CEO.
 "PAG to invest Rs 1,054 cr for majority stake in contract manufacturing firm")
Sales of listed private manufacturing companies jump 31% in Jan-Mar quarter
Sales of listed private manufacturing companies surged 31 per cent year-on-year in the fourth quarter of the last fiscal on favourable base as well price effect, according to RBI data
 "Sales of listed private manufacturing companies jump 31% in Jan-Mar quarter")
Sebi overhauls norms for appointment, removal of independent directors
Move designed to reduce sway of promoters; regulator also prunes minimum application amount for REITs and InvITs to Rs 10,000-15,000.
 "Sebi overhauls norms for appointment, removal of independent directors")
Adar Poonawalla exits Panacea Biotec; sells entire stake for Rs 118 cr
Serum Institute of India CEO Adar Poonawalla offloaded his entire stake in Panacea Biotec amounting to 5.15 per cent shareholding of the firm for Rs 118 crore, through an open market transaction
 "Adar Poonawalla exits Panacea Biotec; sells entire stake for Rs 118 cr")
