COMPANIES & SECTORS


IANS 08 January 2024
Sony group (Sony) is planning to call off the merger pact of its India unit with Zee Entertainment Enterprises (ZEE), capping two years of drama and delay in creating a US$10bn (billion) media giant, said people familiar with the matter, as per media reports.   The Japanese...

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Moneylife Digital Team 08 January 2024
While overall vehicle sales increased by 21%, the passenger vehicle (PV) category continues to face challenges with high inventory levels, despite a slight decline observed at the end of December, says the Federation of Automobile Dealers Associations (FADA). According to FADA, the average...

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IANS 08 January 2024
Supam Maheshwari, co-founder and chief executive officer (CEO) of mother- and child-care e-commerce platform FirstCry has reportedly offloaded 6.2mn (million) shares prior to filing for the company’s initial public offer (IPO).   According to a MoneyControl report, Mr Maheshwari's...

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IANS 08 January 2024
ACC Limited, subsidiary of Ambuja Cements Limited and a leading entity in the cement and building materials sector, currently holds 45% stake in Asian Concretes and Cements Private Limited (ACCPL).   On Monday it announced the successful acquisition of the remaining 55 per cent stake...

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IANS 08 January 2024
E-commerce major Flipkart is reportedly planning to reduce its workforce by 5-7 per cent in early 2024 that may affect nearly 1,500 employees. The Walmart-owned company currently has around 22,000 employees.   According to sources, Flipkart has initiated the exercise via performance...

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IANS 04 January 2024
The Burman family, which collectively owns 21.24% of Religare Finvest Limited (RFL) through its entities, has raised concerns about the alleged allotment of 8% of RFL shares to Rashmi Saluja, the chairperson of Religare Enterprises Limited (REL), through employees stock ownership plans...

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Moneylife Digital Team/ IANS 03 January 2024
The Supreme Court on Wednesday refused to form any special investigation team (SIT) or group of experts to conduct an investigation into the Adani-Hindenburg controversy, saying that media and third party reports were not conclusive proof. Noting that Securities and Exchange Board of India...

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IANS 03 January 2024
The IPO (initial public offer) pipeline for 2024 continues to remain strong. 27 companies proposing to raise Rs28,500 crore are presently holding SEBI approval while another 36 companies looking to raise about Rs40,500 crore are awaiting SEBI approval, as per Prime...

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IANS 03 January 2024
Venezuela has agreed to give oil to ONGC Videsh to help the Indian public sector company recover its $600 million dues as dividend for the stake that it holds in an oilfield in the Latin American country, Petroleum Secretary Pankaj Jain said on Wednesday.   ONGC Videsh (OVL), the...

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IANS 03 January 2024
Online rental platform Frontdesk has become the first tech startup to lay off employees in 2024—its entire 200-person workforce—during a “two-minute Google Meet call”.   The layoffs included full-time, part-time workers and contractors and the proptech startup is now on the verge of...

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IANS 02 January 2024
The last month of 2023 turned out to be a mixed bag for automobile-makers in India, as some logged volume growth, while some others saw negative sales.   Passenger car major Maruti Suzuki India Ltd closed last month with a slightly lower sales numbers, while Tata Motors Ltd and...

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IANS 28 December 2023
Bengaluru-based tech giant Infosys has accused major rival tech company Cognizant of unethical poaching tactics and also sent an official letter in this regard, sources said on Wednesday.   There is a standoff between the two tech giants over senior management staff.   Infosys...

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Moneylife Digital Team 28 December 2023
Wadia group chairman Nusli Wadia has blamed Pratt & Whitney (P&W) for the grounding of Go First, which sought voluntary bankruptcy in May, pegging the damage caused to the airline because of the US company’s faulty engines at more than Rs10,000 crore, based on the calculations of global...

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IANS 28 December 2023
The competition commission of India (CCI) has approved acquisition of control/stake in Reliance Capital Ltd by IndusInd International Holdings Ltd, IIHL BFSI (India) Ltd, and Aasia Enterprises LLP.   The proposed combination relates to the acquisition of control by acquiring shares in...

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Moneylife Digital Team 27 December 2023
As many as 71% of the shareholders of Dish TV India Ltd (Dish TV) dismissed the company board by rejecting the appointment of four independent directors, including the reappointment of Shankar Aggarwal, the chairperson, who is non-executive and independent director (ID). After the...

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IANS 27 December 2023
Zee Learn said on Tuesday that a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016 has been filed by Axis Bank Ltd to initiate corporate insolvency resolution process (CIRP) of the company, before the national company law tribunal (NCLT), Mumbai.   "In this context,...

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IANS 27 December 2023
The Bengaluru-based corporate giant Wipro has filed a lawsuit against its former chief finance officer (CFO), Jatin Dalal, in the Bengaluru civil court. In turn, Mr Dalal, at present with Cognizant as CFO, has submitted an application to the court requesting arbitration.   However,...

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IANS 26 December 2023
IT major Infosys on Saturday announced that a global client has decided to terminate the memorandum of understanding (MoU) for a $1.5 billion deal focused on artificial intelligence (AI) solutions.   The 15-year deal was signed in September with the undisclosed global...

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IANS 26 December 2023
Fin-tech leader Paytm has laid off several hundred employees from its operations, sales and engineering team, according to reports.   A company spokesperson did not divulge the number of people affected, but said the company is “transforming our operations with AI-powered automation...

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IANS 26 December 2023
US educational non-profit organisation Code.org has reportedly sued Byju’s subsidiary Whitehat Jr in the US over failing to pay its dues.   In the lawsuit filed in a California district court, Code.org alleged that WhiteHat Jr, which Byju’s acquired for US$300mn (million) in 2020,...

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