Companies

Sebi grants approval to RIL-Future Group deal

• SEBI, while referring to the complaints registered by Amazon and the plea filed in Delhi HC, has asked the entities involved in the amalgamation to keep their shareholders informed about the legal dispute

P&G sees strong sales trends extending beyond pandemic

• P&G, which makes Mr. Clean, Tide, Pampers and other household goods, lifted its full-year profit and sales targets after scoring an 8% sales jump in Q2
• Net income for the quarter ending December 31 was $3.9 billion, up 4% on an 8% rise in sales to $19.7 billion

Procedural deviations in Franklin e-voting, only 38% turnout: report

• Voters in the schemes approved the winding up by a majority of over 96% in all the schemes, the report showed
• The observer further noted that the vote was framed such that approval by simple majority is required rather than the threshold of 75% that is required in case of winding up of a company

Morgan Stanley profits rise 48%, helped by strong markets

The New York-based firm posted a profit $3.39 billion, or $1.81 a share, up from $2.31 billion, or $1.30 a share, in the same period a year earlier

SBI MF launches retirement benefit fund with term insurance

• The fund offers four investment plans across a range of risk-profile, aggressive, aggressive hybrid, conservative hybrid and conservative
• The fund house, which has assets under management of ₹4.56 lakh crore as on December 31, is targeting millennials through this scheme

CCI approves Flipkart-ABFRL deal

The deal, which was announced last October, will help Aditya Birla Fashion cut its debt and expand into new apparel categories and give Flipkart a significant edge over Amazon

AI-startup AlphaICs raises $8 million in Series B funding

• The funding was led by Endiya Partners and Emerald Technology Ventures
• The startup will use the funds to develop the software stack and to build system solutions for its target markets

Antler to deploy $100 million in Indian startups

• The VC firm looks to make investments right from the early stage, all the way to Series A and B
• With the $100 million fund, it plans to back 150 Indian startups over the course of next 4 years

HDFC AMC Q3 PAT up 5% to ₹369.26 crore

Total income grew to ₹594.91 crore in the quarter under review from ₹591.99 crore in the three months ended December 31, 2019

Bajaj Finserv Q3 consolidated net profit jumps 15% to ₹1,290 cr

The consolidated interest income was marginally lower at ₹6,599 cr

Havells Q3 profit up 74.5% to ₹350.14 crore, sales up 39.7% to ₹3,175 crore

• The company had posted a consolidated net profit of ₹200.62 crore in the October-December quarter a year ago, Havells said in a regulatory filing

Cairn says engaged with Indian govt on adherence to arbitration award

A month after a tribunal at the Permanent Court of Arbitration in The Hague ordered India to return $1.2 billion to UK's Cairn Energy, the company on Wednesday said it is engaged with the Indian government on implementation of the ruling

Blackstone’s pre-Covid-19 portfolio shifts have turned out well

The investment firm boosted exposure in hot industrial-space category and shifted out of retail and traditional office space

Bajaj Finance to enter payment solutions market with 'Bajaj Pay'

• 'Bajaj Pay' will offer an integrated payment solution comprising of UPI, PPI, EMI card and credit card to Its customers
• Bajaj Finance also said that it is building 5 proprietary marketplaces

How Volkswagen’s $50 billion plan to beat Tesla short-circuited

Faulty software set back a bid by the world’s largest car maker for electric-vehicle dominance

Goldman Sachs, with big earnings jump, is having a profitable pandemic

Wall Street firm’s revenue rises 18%, powered by trading and deal making

Bajaj Finance Q3 standalone net profit declines 30% to ₹1,049 cr

• Gross NPA and Net NPA as of 31 Dec, 2020 stood at 0.55% and 0.19% respectively, as against 1.61% and 0.70% as of 31 Dec, 2019
• Bajaj Finance did a one-time write-off of principal outstanding of ₹1,970 cr and interest outstanding of ₹365 cr

Ola, Siemens to build 'India's most advanced EV manufacturing hub' in TN

• The manufacturing hub in the southern state will be the world’s largest scooter manufacturing facility, Ola said
• The facility will serve as Ola’s global manufacturing hub catering to its customers in India as well as key markets across the world

New Stellantis CEO plans to preserve factories, offer more distinctive brands

The newly combined auto maker, created by the merger of Fiat Chrysler and PSA, began trading in New York on Tuesday

Fireside Ventures raises $118 million fund in final close

• Fireside will invest in 15-20 consumer-facing start-ups while continuing to keep its focus on digital-first brands from the second fund.