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Corporate

FRL independent director's conduct raises question on corp governance in India: Amazon

FRL independent director's conduct raises question on corp governance in India: Amazon

Jul 06, 2022

In a strongly worded letter to Future Retail's independent director on July 4, Amazon has also raised objection to an alleged attempt of Future Group to transfer its logistics and warehousing business to Reliance in violation to binding legal orders.

On Wednesday, scrip of LIC closed nearly flat at Rs 703.05 apiece on BSE.

Govt nominee Pankaj Jain ceases to be director on LIC board

Jul 06, 2022

The new director nominated by the government to the LIC board is Suchindra Mishra.

Consumption was hit by 'unprecedented level of inflation' in Apr-Jun: Dabur

Consumption was hit by 'unprecedented level of inflation' in Apr-Jun: Dabur

Jul 06, 2022

In this challenging macro environment Dabur's India business has been "fairly resilient", and is expected to report "high single-digit revenue growth" on a very high base of 35.4% revenue growth in Q1 FY22, it added.

Reliance partners with Gap, to launch the iconic American fashion brand in India (Source: Reliance Retail Limited)

Reliance partners with Gap, to launch the iconic American fashion brand in India

Jul 06, 2022

Through a combination of exclusive brand shops, multi-brand store expressions, and e-commerce platforms, Reliance Retail will introduce Indian consumers to Gap's fashion offerings.

The Baker's Dozen raises $5 mn in investment round led by Fireside Ventures (Representational Image: Reuters)

The Baker's Dozen raises $5 mn in investment round led by Fireside Ventures

Jul 06, 2022

The company stated that it planned to use this fresh injection of capital to further critical product innovation, team building, brand marketing initiatives, distribution expansion, and enhancing the business's technological capabilities.

Climes' co-founders Anirudh Gupta and Siddhanth Jayaram

Climes raises $1.2 mn in first round of funding led by Sequoia Capital, Kalaari Capital, others

Jul 05, 2022

ClimateTech start-up also revealed that it is building an engine that accelerates the flow of fresh capital toward climate solutions by making it convenient for brands and individuals to take meaningful climate action.

Screen size, slim frame and advanced design top the list of user considerations when it comes to design aesthetics on new TVs.

Amazon preferred brand for TV purchases online, Croma for offline: CMR

Jul 05, 2022

As revealed in a new study titled ‘India, and the TV buying behavior’ by CyberMedia Research (CMR), more Indian consumers in the post-pandemic phase are now open to purchasing their next TV online.

APSEZ to seek shareholders's nod to reappoint Gautam Adani as MD

APSEZ to seek shareholders's nod to reappoint Gautam Adani as MD

Jul 05, 2022

The consent of shareholders is being sought for the reappointment of Adani as the Managing Director of the company for a period of five years with effect from July 1, 2022.

Marico reports decline in mid-single-digit volume in domestic market in Apr-Jun

Marico reports decline in mid-single-digit volume in domestic market in Apr-Jun

Jul 05, 2022

Current trends indicate that consumers ''titrated consumption'' in some nonessential categories and either ''downgraded among brands or switched to smaller packs'' in the essential categories, said Marico.

Tejashree Joshi, Head, Environmental Sustainability, Godrej & Boyce

Godrej & Boyce to recycle 25,000 MT of plastic over the next 8 years

Jul 05, 2022

Tejashree Joshi, Head, Environmental Sustainability, Godrej & Boyce, in conversation with Business Today, talks about the company’s sustainability plans going forward.

Dabur's Burman family becomes promoter of Eveready Industries

Dabur's Burman family becomes promoter of Eveready Industries

Jul 05, 2022

The investment firms of the Burman family entities had acquired a 14.55 per cent share of Eveready Industries from the open market in June and now collectively own a majority stake.

Bombay HC upholds disqualification of Tata Motors from e-buses tender process

Bombay HC upholds disqualification of Tata Motors from e-buses tender process

Jul 05, 2022

The auto major had approached the HC challenging the Brihanmumbai Electric Supply and Transport corporation's decision to disqualify it from the tender process for operating 1,400 electric buses for Mumbai.

In terms of export, both Nexon and Punch saw an 11.5% increase at 145 units in Q1 FY23.

Tata Motors' compact cars production increases 13%, sales up 28% in April-June

Jul 05, 2022

Tata Motors also revealed that it had produced 73,107 units of Nexon, Punch during Q1 FY23, up 234.64 per cent compared to 21,846 units sold in Q1 FY22.

GoMechanic to issue shares worth Rs 30 cr to service partners (Photo: GoMechanic)

GoMechanic to issue shares worth Rs 30 cr to service partners

Jul 05, 2022

GoMechanic said it also aims to train over 5,000 mechanics in more than 1,500 workshops across the country in partnership with National Skill Development Corporation (NSDC).

RPower shareholders reject special resolution to monetise asset (Photo: Reuters)

RPower shareholders reject special resolution to monetise asset

Jul 05, 2022

A BSE filing by the company showed that 72.02 per cent of votes were cast in favour of the monetisation resolution, while 27.97 per cent voted against it.

The fintech giant facilitated disbursals worth Rs 1,400 crore in loans in June 2022 itself.

BharatPe facilitates loans worth Rs 3,600 cr in Q1 of FY23 

Jul 05, 2022

As per the company top merchant categories for disbursals include grocery, food and beverages, roadside kiosks and street vendors and retail outlets. Other product offerings including card acceptance POS businesses—BharatSwipe—and its investment platform for merchants recorded over 30 per cent growth on-quarter.

Edelweiss Broking to raise up to Rs 300 cr through NCD

Edelweiss Broking to raise up to Rs 300 cr through NCD

Jul 05, 2022

Equirus Capital and Edelweiss Financial Services are the lead managers of the issue. These bonds are proposed to be listed on BSE.

Britannia shareholders reject Rs 5,000 cr investment proposal

Britannia shareholders reject Rs 5,000 cr investment proposal

Jul 05, 2022

The special resolution for approval to increase limits for making investments, loans, Special guarantees and security was "not Passed with requisite majority," said a regulatory filing from Britannia Industries on June 29, 2022.

Representative image

Vedanta aluminium output up 3% in April-June

Jul 04, 2022

Mined metal production at Zinc India increased by 14 per cent to 2,52,000 tonnes due to higher ore production across all the mines and supported by better mill recovery.

LIC to invest Rs 80.67 cr in rights issue of its Nepal venture

LIC to invest Rs 80.67 cr in rights issue of its Nepal venture

Jul 04, 2022

LIC owns 55 per cent stake in LIC (Nepal).

Reserve Bank of India (RBI)

RBI imposes Rs 1 cr penalty each on Kotak Mahindra Bank, IndusInd Bank

Jul 04, 2022

The central bank added that “the statutory inspection for supervisory evaluation of the banks was conducted by RBI with reference to its financial positions as on March 31, 2018 and March 31, 2019.”