Corporate News
Adani to Sell Stake in Food Venture Adani Wilmar, Set to Raise Over $2 Billion
In a statement, Adani Enterprises Ltd -- which held 43.94 per cent stake in Fortune brand cooking oil, wheat flour and other food product maker Adani Wilmar Ltd -- said it would sell 31.06 per cent stake to Wilmar International. Around 13 per cent will be sold in the open market for meeting minimum public shareholding requirements.
Snapdeal's Loss Narrows to Rs 160 Crore in FY24
Secondly, the loss of the company on its Earnings Before Interest, Taxes, Depreciation, and Amortisation (EBITDA) decreased to 88 percent at Rs 16 crore during FY24 from Rs 144 crore during FY23.
UltraTech to Acquire 8.69% Stake in Star Cement from Promoters in Rs 851-Cr Deal
Star Cement, having an installed capacity of 7.7 MTPA (million tonnes per annum), has a presence in the markets of north-eastern India and is rapidly expanding in West Bengal and Bihar.
J&K Bank Appoints Amitava Chatterjee as New MD
Amitava Chatterjee has completed his Masters in Business Administration from ICFAI University Hyderabad besides having qualified the CAIIB offered by IIBF.
India Cements Promoter N Srinivasan Steps Down as UltraTech Completes Acquisition
The Aditya Birla Group firm has completed the acquisition of 10.13 crore equity shares of India Cements Ltd (ICL), representing 32.72 per cent of the equity share capital of the company.
Vedanta Revises Demerger Plan, Retains Base Metal Business Under Parent Company
The decision followed discussions with stakeholders, including lenders, and was approved by the board of directors during a Friday meeting.
Unacademy Faces a Rs 285 Crore Loss in FY24
The company managed to narrow down the losses since the reduction in its expense has brought relief.
Google Appoints Preeti Lobana as Country Manager and VP for India
She will lead Google India's sales and operations, spearheading the company's commitment to the burgeoning digital economy in the country.
Edtech Unicorn upGrad Reports Rs 560 Crore Loss in FY24
The total income of the higher education and upskilling company grew 30 per cent year-on-year (YoY) basis to Rs 1,547 crore in FY24. It was Rs 1,194 crore in FY23.
Zepto Reduces Loss to Rs 1,248.6 Cr in FY24, Revenue Doubles to Rs 4,454 Cr
The Mumbai headquartered company has posted a revenue of Rs 4,454 crore in FY24 that's nearly two-fold increase over the previous fiscal Rs 2,025 crore.
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