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Uber hires Namit Jain as India senior director; to lead core platform head

Ride-hailing company Uber on Tuesday announced that it has hired Namit Jain, as a new Senior Director, Engineering, to lead its data, core infrastructure and platform teams in India. Jain will head a team of engineers working to bolster the company's core platform and leverage data to improve efficiencies in Bengaluru's new office.

BOI Q4 net profit rises 142.3% to Rs 606 cr on margin improvement

Public sector lender Bank of India’s (BOI) net profit rose by 142.3 per cent to Rs 606 crore in Q4FY22, on improvement in net interest margins. It had posted a net profit of Rs 250 crore in Q4FY21, the bank said in a statement. For FY22, the net profit rose by 57.6 per cent to Rs 3,405 crore from Rs 2,160 crore in FY21.

The board recommended a dividend of Rs 2 per equity share (of face value of Rs 10) for 2021-22 subject to shareholders' nod. The bank's share was trading 2.48 per cent higher at Rs 47.6 per cent on BSE.

GIC Singapore to invest Rs 2,195 cr in Aditya Birla Fashion and Retail

The board of Aditya Birla Fashion and Retail (ABFRL) on Tuesday approved raising up to Rs 2,195 crore by way of preferential issuance of equity and warrants to an affiliate of GIC, Singapore’s sovereign wealth fund (GIC), the company said in a statement.

GIC will first invest Rs 770 crore towards subscription of equity and warrants, followed by upGIC will first invest Rs 770 crore towards subscription of equity and warrants, followed by up to Rs 1,425 crore in one or more tranches within 18 months upon exercise of warrants.

Adani Group, Andhra Pradesh govt sign MoU at World Economic Forum

The Adani Group has signed a Memorandum of Understanding (MoU) with the government of Andhra Pradesh on Monday at the World Economic Forum regarding an investment of Rs 60,000 crore by Adani Green Energy in the state. The project is expected to provide employment opportunities to about 10,000 people directly and indirectly. Adani Green Energy will set up a 3,700 MW Hydro Storage Plant and 10,000 MW solar energy project in Andhra Pradesh.

The MoU was signed in presence of Chief Minister Jagan Mohan Reddy and Adani Group Chairman Goutam Adani at the AP Pavilion, stated the official release.

Knitwear maker Rupa & Co Q4 net profit declines 25.2% at Rs 49.3 crore

Net profit of knitwear manufacturer Rupa & Co declined 25.2 per cent at Rs 49.3 crore in the last quarter of 2021-22 as compared to Rs 65.9 crore in the previous similar period, a company statement said. Revenues of the company during the fourth quarter of last fiscal increased marginally to Rs 455.5 crore as against Rs 454 crore in the similar previous corresponding period.

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