Reliance Industries: The largest Indian company’s telecom arm Jio has delayed the launch of its ultra low-cost smartphone it is developing with Google, to Diwali, possibly due to semiconductor shortages that the industry is facing.
Bharti : International rating agency S&P maintained Bharti Airtel’s credit rating of “BBB-“, and upgraded outlook to stable from negative, indicating the company’s improved financial status and ability to pay back debt.
Infosys: IT services major formally launched its ‘Equinox’ suite of solutions to help enterprises transform their online and in-store functions and deliver personalized omnichannel commerce experiences for B2B and B2C buyers.
Vedanta: Billionaire Anil Agarwal’s flagship company is seeking a premium of at least $1 over the government-mandated price for the natural gas it plans to produce from its Assam block.
Coal India: The mining major might raise prices of the dry fuel by at least 10-11 per cent to mitigate the impact of increased costs and an impending wage revision, sources close to the development said. The Kolkata-headquartered company had last hiked coal prices in 2018.
Adani Green Energy: The Adani Group firm has listed its USD 750-million foreign currency green bonds on India INX’s Global Securities Market platform. Adani Green Energy Ltd has listed its maiden USD 750-million green bonds with a 3-year maturity at a competitive coupon of 4.375 per cent, India INX said.
Angel Broking: The domestic broker said it has onboarded 4.5 lakh customers in August, taking the total base to 61.5 lakh, primarily due to the fintech platform’s increased focus on leveraging artificial intelligence and machine learning.
Bank: The state owned lender said its board has approved raising up to Rs 6,000 crore by issuing bonds. The decision was taken at the meeting of the board of directors.
Zomato: The online food delivery platform has decided to stop its grocery delivery service from September 17 mainly on account of gaps in order fulfillment leading to poor customer experience, marking its exit from the segment for the second time since last year.
BHEL: The state-owned engineering firm said it has played a key role in the successful implementation of ultra-high voltage direct current (UHVDC) link between the western and southern region grid.
Dabur India: The homegrown FMCG major announced the expansion of its Hajmola digestive portfolio by introducing ‘Hajmola LimCola’. The launch will be supported across print, digital, outdoor, mobile and radio campaigns, featuring Bollywood actor Ajay Devgn.
Indiabulls Housing Finance: The NFBC has received the CCI approval to divest its mutual fund business to Groww for Rs 175 crore. Divestment of the mutual fund business is aimed at focussing on its retail estate asset management business, as it is not the core focus area of the company.
Godrej Consumer Products: The FMCG major is looking at clocking a double-digit growth in the current fiscal with expansion across segments, according to a company official.
Granules India: The generic drug maker is recalling different products in the US, the world’s largest market for medicines, for different reasons. According to USFDA, the company’s US-based unit is recalling the affected lot due to “Current Good Manufacturing Practice (CGMP) deviations”.
Escorts: The farm machinery and construction equipment major is confident of clocking a double-digit growth in tractor sales in 2021-22, having registered good volume in the first quarter, according to a senior company official.
National Aluminum: The state-owned Nalco is making efforts to operationalize Utal D coal mine in Odisha in the next financial year. Utkal E coal block in the state will be operationalized after obtaining all the statutory clearances thereafter, National Aluminium Company Ltd (Nalco) said.
Petronet LNG: India’s largest gas importer is looking to reclaim the lost opportunities of the past decade as it seeks fresh foray into the petrochemical business and plans to set up an LNG import facility on the east coast.
LIC Housing Finance: The NBFC said it has allotted over 4.5 crore preference shares to promoter LIC for over Rs 2,335.5 crore. The company has allotted 4,54,00,000 equity shares on a preferential basis to Life Insurance Corporation of India (LIC), the housing finance firm said.
Shakti Pumps: The pump manufacturer said it has installed and commissioned the northeastern region’s first high-altitude solar pump project in Mizoram.
Cosmo Films: The packaging solution provider said it has made a foray into the pet care business with the launch of its platform ZIGLY. ZIGLY is the country’s first tech-enabled integrated pet care platform with an experience centre in New Delhi,
Arvind SmartSpaces: The realty firm has raised around Rs 85 crore equity capital from HDFC Capital’s real estate fund and its promoters by issuing preferential shares.
Srei Infrastructure Finance: The Kolkata based NBFC is focusing on deleveraging its balance sheet and reducing stress on its books through recoveries and sell-down of portfolios, according to its annual report. It is in the midst of raising equity capital from foreign investors.
Auto Stocks: The automobile wholesales in India declined 11 per cent year-on-year in August, as the semiconductor shortage hit production processes across the industry, SIAM said. The total wholesales across categories, excluding commercial vehicles, declined to 15,86,873 units last month.
Business News Governmental News Finance News
Need Your Help Today. Your $1 can change life.