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Corporate

Corporate

As per the ministry's monthly information bulletin for the corporate sector, there were 14,14,277 active companies as on September 30

Over 16,500 new companies registered in India in September

Oct 24, 2021

Data from the corporate affairs ministry showed that a total of 22,32,699 companies were registered in the country as on September 30.

Reliance Industries Chairman and Managing Director Mukesh Ambani

Reliance's green energy biz taking shape, likely to contribute 10% of EBITDA in 5 years

Oct 24, 2021

Reliance is targeting solar manufacturing of 100 GW and green hydrogen costs of $1 per kg by 2030. It will spend $10 billion on the new energy business over the next 3 years towards achieving these targets.

The segments are namely retail, exports and the OEM (original equipment manufacturer) customers

JSW Steel mulls surcharge levy on steel products to offset rising input cost

Oct 24, 2021

JSW Steel will be the first company to introduce the concept of surcharge to the domestic steel market.

 Dish TV, which had a debt of around Rs 3,300 crore two years back has paid most of the amount and around Rs 525 crore, mostly from two lenders - RBL Bank and Axis Bank - are left to be paid back.

Dish TV Rs 1,000 cr rights issue crucial for business survival, says official

Oct 24, 2021

Earlier in a notice, Yes Bank had said the Rs 1,000 crore right issue, is "solely to dilute" the shareholding of the bank, which is the single largest shareholder of the company.

Sekhri is optimistic about 25-30 per cent growth in FY22 compared to FY21 in spite of having two wash-out months.

Wine maker Fratelli expects 25-30% growth in FY22, eyes entry in hospitality sector

Oct 23, 2021

In an interview with Business Today, Gaurav Sekhri, Partner & Director at Fratelli Wines, speaks on the impact of the pandemic, wine in a can, the redesigned labels and the company's future plans.

Minda Industries Ltd has already acquired 33,750 equity shares of the said SPV

Minda Industries to increase stake in Strongsun Renewables Pvt Ltd. to 28.10%

Oct 23, 2021

The investment committee at its meeting held on October 22, 2021 approved the second tranche of investment in equity shares of Strongsun Renewables, special purpose vehicle company.

IRB InvIT Q2 revenue rises to Rs 328 crore

IRB InvIT Q2 revenue rises to Rs 328 crore

Oct 23, 2021

IRB InvIT did not provide profit figures for the quarter. The company said it declared distribution of Rs 128 crore to the unitholders translating into payout of Rs 2.20 per unit for the second quarter.

ICICI Bank's net NPA ratio declined to 0.99 per cent at the end of September quarter from 1.16 per cent at the end of June quarter.

ICICI Bank Q2 net profit rises 30% to Rs 5,511 cr, NII up 25%

Oct 23, 2021

ICICI Bank's net interest income rose 25 per cent YoY to Rs 11,690 crore during the quarter under review, while net interest margin expanded to 4 per cent from 3.57 per cent in the year-ago quarter.

Amar Nagaram, who was the vice president of Flipkart, took over as CEO of fashion e-commerce platforms, Myntra and Jabong in 2019.

Myntra's Amar Nagaram steps down as CEO after 3 years, plans to launch his own venture

Oct 23, 2021

An email sent on early Friday to employees by Flipkart CEO, Kalyan Krishnamurthy, as reviewed by Business Today also mentions that Nagaram will continue with his services until December 2021 in an advisory role for a smooth transition.

Carlyle has set up a special-purpose investment holding company - CA Magnum Holdings (CAMH) - to invest in Hexaware

Carlyle Group mulls $1 bn debt raise for Hexaware deal

Oct 23, 2021

The company looks to issue $1.01 billion notes to fund the acquisition of a 95.42 per cent stake in the Indian IT solutions provider, Moody's Investors Service said in a note on Friday.

As it is a highly limited-edition blend, only 100 bottles of Yamazaki were released when it was first introduced in Japan back in 2020

Beam Suntory introduces limited edition luxury spirits in India

Oct 23, 2021

The firm stated that since these products are extremely limited edition, consumers interested in purchasing them will have to pre-order on DDFS' website