Page 4 - Top Business Headlines
Deadline for Srei resolution extended for third time, new date is Aug 10
RBI superseded group firms in October 2021 over governance concerns and payment defaults
 "Deadline for Srei resolution extended for third time, new date is Aug 10")
Rural fintech firm Jai Kisan raises $50mn as debt, equity in funding round
Startup says it will use the financing to expand product suite and improve customer experience
 "Rural fintech firm Jai Kisan raises $50mn as debt, equity in funding round")
Outlook positive for CG Consumer despite home appliance firm's Q1 miss
Market share gains in key categories and entry into premium kitchen appliances are positives
 "Outlook positive for CG Consumer despite home appliance firm's Q1 miss")
Dr Reddy's Q1 revenue may grow up to 10% YoY, margins may expand: Analysts
Dr Reddy's Labs Q1 results preview: Analysts said that despite pricing pressures in the US, the company is likely to have recorded steady growth in this segment due to a ramp-up of new products.
 "Dr Reddy's Q1 revenue may grow up to 10% YoY, margins may expand: Analysts")
Equity management firm Qapita acquires ESOP Direct in all cash-deal
Pune-based ESOP Direct provides solutions in equity compensation
 "Equity management firm Qapita acquires ESOP Direct in all cash-deal")
Porter completes divestment of Modern Trade business to COGOS Technologies
This move aims at ensuring continuity of the business vertical with COGOS, an enterprise-led business model and strengthening Porter's focus on its core business solutions
 "Porter completes divestment of Modern Trade business to COGOS Technologies")
Hinduja Leyland Finance to merge with group firm NxtDigital in 9 months
NxtDigital handles broadband, digital cable television, content syndication, teleshopping
 "Hinduja Leyland Finance to merge with group firm NxtDigital in 9 months")
HUL, ITC, and USL now have 432 officials earning more than Rs 1 cr a year
In the last fiscal, FY22, the number of such executives rose by 33 per cent, 44 per cent and 113 per cent in HUL, ITC and USL, respectively
 "HUL, ITC, and USL now have 432 officials earning more than Rs 1 cr a year")
Airports, roads, ports and now 5G: Adani group's expansion rolls on
The Adani group's foray into the 5G space comes on the back of a massive expansion spree
 "Airports, roads, ports and now 5G: Adani group's expansion rolls on")
IHCL's Ginger brand continues expansion, on track to scale up to 125 hotels
IHCL has traditional hotel brands like Taj, Vivanta, SeleQtions, and new-age ones like Ginger and Ama
 "IHCL's Ginger brand continues expansion, on track to scale up to 125 hotels")
Cabinet pulls up infra ministries to expedite port connectivity projects
Cabinet Secretary Rajiv Gauba also asked the ministries to finalise a comprehensive action plan in coordination with DPIIT and integrate it with PM Gati-Shakti framework by Aug 15
 "Cabinet pulls up infra ministries to expedite port connectivity projects")
Top headlines: TCS beats street estimates, ED fines Amnesty India, and more
TCS' net profit grew 5.2 per cent year on year, and 2.5 per cent sequentially to Rs 9,478 crore in Q1FY23, but missed estimate of Rs 9,850 crore
 "Top headlines: TCS beats street estimates, ED fines Amnesty India, and more")
Indian startups raised $6.9bn in the June quarter, down 33% sequentially
They raised $6.9 bn in Q2CY22 against $10.3 billion raised in Q1CY22; funding winter is a result of the market slowdown
 "Indian startups raised $6.9bn in the June quarter, down 33% sequentially")
Top headlines: EVs brace for trial by fire, ATF duty hits airlines and more
The Indian economy was slightly smaller than the United Kingdom's (UK's), which deprived the former the rank of the fifth-largest economy in the world in 2021. Read more on this in our top headlines
 "Top headlines: EVs brace for trial by fire, ATF duty hits airlines and more")
Shareholders turn down Reliance Power's asset monetisation plan
A report by Institutional Investor Advisory Services (IiAS) last month says that the company has defaulted on loans to the tune of Rs 3,561 crore as on March 31, 2022
 "Shareholders turn down Reliance Power's asset monetisation plan")
Edtech startup Kreedo raises $2.3 million in pre-Series A funding
Founded in 2012 by husband-wife duo Mridula Shridhar and VK Manikandan, Kreedo is on a mission to change the way early learning is delivered in budget private schools and preschools
 "Edtech startup Kreedo raises $2.3 million in pre-Series A funding")
SEZ 2.0: Regional boards to track development hubs on the cards
The commerce and industry ministry is drafting a legislation for the next chapter for SEZs that will see development of large manufacturing and investment hubs
 "SEZ 2.0: Regional boards to track development hubs on the cards")
Marzin R Shroff to step down as MD & CEO of Eureka Forbes in August
Will move to a new role as a senior advisor to both Eureka Forbes and Advent International
 "Marzin R Shroff to step down as MD & CEO of Eureka Forbes in August")
Second-sale realty broker Settlin raises $1 mn in pre-series A round
Powerhouse Ventures, Rajesh Sawhney-founded GSF Fund, and Bharat Matrimony founder among investors; funds to be used for expanding within Bengaluru
 "Second-sale realty broker Settlin raises $1 mn in pre-series A round")
As China deals with Covid, nearly 1 in 4 European firms consider moving out
Of the firms considering a shift in investment, 16% said they were looking at relocating to Southeast Asia, while 18% said they were looking elsewhere in the Asia-Pacific region
 "As China deals with Covid, nearly 1 in 4 European firms consider moving out")
