India Grid Trust on Tuesday said Alberta Investment Management Corporation and HDFC Life will invest Rs 567 crore and Rs 100 crore, respectively, in it. According to a statement, India Grid Trust (IndiGrid) announced the launch of its preferential issue process to raise Rs 695 crore following the successful conclusion of the offer-for-sale (OFS). IndiGrid … Read more
In continuation of it’s strategy to grow organically, Medi Assist’s TPA subsidiary (MATPL) has signed a definitive agreement to acquire Paramount Health Services & Insurance TPA (Paramount). Paramount is the 4th largest TPA by total revenues and 2nd largest TPA in Group segment by Premiums in India. The Company in FY24, had a market share … Read more
Food safety regulator FSSAI on Monday withdrew its recent advisory wherein food businesses were directed to remove claims of ‘A1’ and ‘A2’ types of milk and milk products from packaging. The Food Safety and Standards Authority of India (FSSAI) said the advisory has been withdrawn to carry out further consultations with stakeholders. It would imply … Read more
As some of India’s big conglomerates in the industrial and energy space see brisk business, they are also witnessing high employee turnover rates, and in double digits, data for FY24 shows. Flagship entities of conglomerates such as Adani, Vedanta, Aditya Birla Group, and Larsen & Toubro (L&T) all have reported a double-digit employee turnover rate … Read more
The Reserve Bank of India (RBI) is contemplating a staggered implementation of the increase in provisioning for project financing to soften the blow on lenders and give them ample time to prepare for any impact on profitability. Projects nearing completion may also be given some leeway in provisions, people familiar with RBI’s plans said. Facing … Read more
At Warner Bros. Discovery’s quarterly results on Wednesday, August 9, CEO David Zaslav revealed to Wall Street that the company’s television division, which generates profits for Warner Bros. Discovery, is worth $9.1 billion less than previously estimated, with revenues also declining by more than 6%. He was suing Amazon to reclaim some of the rights … Read more
Alkem MedTech Pvt Ltd (AMPL), a wholly owned subsidiary of Alkem Laboratories (ALL), has announced it’s 1st business initiative. It has entered into a design and technology transfer agreement with Exactech Inc (EI), a global medical device company headquartered in USA. AMPL will manufacture and market EI’s joint replacement implants for sale in India. The … Read more
Reshuffling of businesses continue at Zomato. After announcing the purchase of Paytm’s ticketing business, the Company has now shut down inter-city delivery service ‘Legends’ The service was suspended in April this year and was relaunched in July. The Company then had tweaked the model to deliver pre-stocked items from other cities with a shorter delivery … Read more