COMPANIES & SECTORS


IANS 02 February 2023
The government on Wednesday announced to set up DigiLockers for the micro, small and medium enterprises (MSMEs), large businesses and charitable trusts.   Fintech services in India have already been facilitated by the digital public infrastructure including Aadhaar, PM Jan Dhan...

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IANS 01 February 2023
The Central government on Wednesday said that to further provide impetus to green mobility, customs duty exemption is being extended to the import of capital goods and machinery required for manufacture of lithium-ion cells for batteries used in electric vehicles—a move hailed by the EV...

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While the affordable housing segment, the backbone of the housing sector, has witnessed a poor performance, the country's residential real estate sector looks to Budget 2023-24 to boost the country's flagging affordable housing segment.   ANAROCK's consumer sentiment survey finds...

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Fin-tech platform BharatPe suffered huge losses to the tune of Rs5,610.7 crore in FY21-22, due to a one-time non-cash expense related to change in fair value of compulsory convertible preference shares (CCPS).   In FY20-21, the company had posted a net loss of Rs1,619.2...

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The Supreme Court on Tuesday extended the protection granted to Yes Bank in an FIR (first information report) lodged by the Noida police and also the restraint order from transferring and exercising voting rights in Dish TV on the basis of 44.53 crore shares pledged on disbursal of Rs5,270...

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Moneylife Digital Team 24 January 2023
Expressing deep concern over the outgo of valuable foreign exchange in the name of royalty and technical fees by multinational corporations (MNCs), the Swadeshi Jagran Manch (SJM) has asked the Indian government to reimpose caps to save valuable foreign exchange.   SJM referred to the...

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Reliance Industries Ltd (RIL) has spent Rs1trn (trillion) capital expenditure (capex) year-to-date, majority of which is on Jio, followed by retail and E&P (exploration & production), as a result of which the reported net debt is Rs1.1trn as of Q3FY22-23, up 18% quarter-on-quarter (q-o-q),...

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After an entrepreneur complained in a LinkedIn post that a Zomato delivery agent advised him to cheat the company by paying some money directly to him and enjoy the food, the company's founder and chief executive officer (CEO) Deepinder Goyal said he is 'aware' of this fraud and is 'working...

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Online food delivery platform Swiggy on Friday confirmed that the company is laying off 380 employees as food delivery growth slows.   "The growth rate for food delivery has slowed down versus our projections (along with many peer companies globally). This meant that we needed to...

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The Bombay High Court on Friday granted interim bail to Videocon Group Chairman Venugopal Dhoot, who was arrested in connection with the ICICI Bank-Videocon scam case by the Central Bureau of Investigation (CBI).   A division bench of Justices Revati Mohite-Dere and Prithviraj K....

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Moneylife Digital Team 19 January 2023
GoMechanic, an online vehicle repair platform, has laid off 70% of its workforce as the Sequoia India-backed start-up grapples with a funding crunch after the existing and prospective investors found that the founders had misstated facts, says a report from TechCrunch.   The move...

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In a setback to Google, the Supreme Court on Thursday refused to interfere with the national company law appellate tribunal (NCLAT) decision, declining to stay operation of the competition commission of India (CCI) order imposing Rs1,337.76 crore fine on the tech giant.   A bench,...

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In a relief to the NOIDA Authority, the Supreme Court has dismissed the contempt of court filed by the DLF while ordering the real estate group to pay Rs235 crore to the civic body.   The Authority in its arguments said that as per the terms of the lease deed signed between the mall...

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Amazon has started notifying its employees affected by its new round of layoffs, as a part of its plan to reduce its headcount by around 18,000 people, the media reported.   It however, remains unclear as to how many employees are being affected in this particular round, but the...

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Passenger car major Maruti Suzuki India Ltd has recalled 17,362 vehicles comprising newly-launched Grand Vitara, Alto K10, S-Presso, Eeco, Brezza and Baleno, to replace airbag controllers.   The company is recalling the models rolled out between 8 December 2022 and 12 January...

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Moneylife Digital Team 17 January 2023
India Inc's revenue is expected to rise about 14% year-on-year (y-o-y) in the third quarter of this fiscal ended December 2022 to Rs10.9 lakh crore, following a steady rise in volume and some price hikes, and driven primarily by the consumer discretionary segments. On a sequential basis,...

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A majority of Indian chief executive officers (CEOs) have indicated in a survey that they plan to cut down their operating costs amid rising geopolitical risks.   At the same time though, they are optimistic about the country's economic prospects.   According to the annual...

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As Indian start-ups face turbulence in the global funding winter, experts on Monday said they need to reserve cash, create a long-term goal and adopt a culture of customer feedback to survive in 2023.   On the occasion of the 'National Start-up Day', envisioned by prime minister (PM)...

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The year 2023 began on a bad note for tech workers globally and 91 companies have laid off more than 24,000 tech employees in the first 15 days this month, signalling worse days ahead.   About 24,151 tech workers lost their jobs, dominated by companies like Amazon, Salesforce,...

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Telecommunication player Vodafone is reportedly planning to slash hundreds of jobs, mostly at its London-based headquarters, to cut costs in the global economic slowdown.   The Financial Times reported that this will be the company's "biggest round of job cuts in five...

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