Corporates News

Glenmark Pharmaceuticals on Monday said it has received approval from the US health regulator to market a generic product used to treat schizophrenia...

The group's flagship Adani Enterprises Ltd (AEL) had in 2021 incorporated a wholly-owned subsidiary, Mundra Petrochem Ltd for setting up a greenfield coal-to-PVC plant at Adani Ports and Special Economic Zone (APSEZ) land in Kutch district of Gujarat. But after Hindenburg Research's January 24 report alleging accounting fraud, stock manipulations and other corporate governance lapses chopped off about USD 140 billion from the market value of Gautam Adani's empire, the apples-to-airport group is hoping to claw back and calm jittery investors and lenders through a comeback strategy.

​TCS’ achievements under the stewardship of outgoing CEO Rajesh Gopinathan...

K Krithivasan, chief executive officer-designate of the country's largest software services major TCS, on Friday said the co...

India’s top IT services company Tata Consultancy Services (TCS) has appointed K Krithivasan as its CEO-designate following t...

Rajesh Gopinathan resigned as the CEO and MD of TCS after six years at the top of India’s largest IT services company, on Thursday. “It’s a day of mixed feelings for me. It has been a fantastic journey with TCS. TCS is an integral part of who I am. I never had second thoughts and wouldn’t have done anything differently even if I could ,” said Gopinathan in an address to the media, on Friday.

Rajesh Gopinathan, Chief Executive Officer and Managing Director of Tata Consultancy Services (TCS) has tendered his resignation, which will be effective from September 15, 2023.

The agreement is an early sign that, despite the threat of close antitrust examinations and higher interest rates, big pharmaceutical companies are poised for heavy deal-making this year, WSJ said.

The rally in Adani group stocks has been led by the flagship Adani Enterprises, which added over ₹84,000 crore to its market capitalisation this month. All in all, five out of the nine group companies have a market capitalisation of over ₹1 lakh crore each, up from two companies at the end of February.

The Bank of Baroda board has approved up to 49 per cent divestment in subsidiary BoB Financial Solutions, the company said i...

The Supreme Court on Friday issued notice to Axis Trustee Services Ltd on a clutch of appeals filed by the RBI and others against the Bombay High Court order, which quashed a decision of the Yes Bank administrator to write off Additional Tier 1 (AT-1) bonds.

The Reserve Bank of India on Friday said it has imposed a penalty of over Rs 3.06 crore on Amazon Pay (India) Private Limited for non-compliance with certain provisions related to Prepaid Payment Instruments (PPIs) and Know Your Customer (KYC) direction. "It was observed that the entity was non-compliant with the directions issued by RBI on KYC requirements," the RBI said in a statement.

Adani group stocks rallied in the first half of trading on Friday after US-based investment firm GQG Partners picked up stakes in four group companies for ₹15,446 crore on Thursday. All the nine group company stocks were up on Friday, led by the flagship Adani Enterprises. The rally in Adani group stocks has led to an increase of ₹73,627 crore in the group’s combined market capitalisation.

At the Global Investors Summit 2023 in Visakhapatnam on Friday, Mukesh Ambani, chairman and managing director of Reliance Industries, spoke about how Reliance has been among the first Indian corporates to believe in the stupendous economic potential of Andhra Pradesh (AP). He said that Reliance’s oil and gas exploration team found gas in AP in 2002 and Reliance has invested over ₹1.5 lakh crore in the KG-D6 basin development.

The embattled Adani Group has sold minority stakes in four of its listed companies to US-based GQG Partners for Rs 15,446 crore as the apple-to-airport conglomerate, recovering from a sell-off triggered by a short-seller report, looks to shore up liquidity ahead of the USD 2 billion debt repayment due in the coming months.

All the nine Adani group companies gained for the second consecutive day, adding ₹33,634 crore to the group’s combined market capitalisation on Thursday. Four out of the nine group stocks closed the day locked in their respective upper circuits. After today’s surge, the Adani group’s combined market capitalisation has increased by over ₹1.24 lakh crore in three days.

India’s apex court on Thursday constituted a six-member expert committee to investigate the recent Adani Group share crash t...

The Supreme Court on Thursday ordered setting up of a six-member committee headed by former apex court judge Justice A M Sapre to investigate the recent Adani Group shares crash triggered by the Hindenburg Research's fraud allegations and other regulatory aspects related to stock markets. The court asked the panel to submit its report in a sealed cover within two months. The top court observed that the PILs pertained to "the loss of investors' wealth over the past few weeks due to the steep decline of

The Supreme Court has set up an expert committee to investigate whether there has been a violation of Section 19 of SEBI rules, whether there was any manipulation of stock prices in the Adani Group. The Adani Group has attacked Hindenburg as "an unethical short seller" and stated that the report by the New York-based entity was "nothing but a lie". The continued sell-offs in the group's stocks led its flagship firm, Adani Enterprises Limited, to cancel a fully subscribed Rs

Adani Power Ltd. has revised downwards the contracted electricity supply capacity with two discoms of Haryana to 600 MW each from 712 MW each earlier, under supplementary power purchase agreements for its Mundra plant. The two discoms -- Dakshin Haryana Bijli Vitran Nigam Ltd and Uttar Haryana Bijli Vitran Nigam Ltd -- will now get a supply of 600 MW each against earlier contracted capacity of 712 MW.

The gap between the leaders and laggards in the Indian IT sector is expected to widen further in FY24 as Tier 1 companies like Tata Consultancy Services (TCS) and Infosys are well-positioned to take advantage of a focus on efficiency amid concerns of an economic slowdown, said a report by Kotak Institutional Equities.

Analysts at BofA Global Research believe large shareholders could sell their stake in these internet companie...