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PVR restarts capex cycle, plans to open about 125 screens in FY23

Leading multiplex chain operator PVR expects the movie exhibition industry to bounce back "dynamically" in FY23 and plans to open as many as 125 screens during the year, its highest ever tally in a year. According to the company's latest annual report, PVR, which is merging with rival Inox Leisure, expects the process to be completed this fiscal.

Eveready set to transform with growth & governance-driven roadmap, says MD

The country’s largest dry cell battery maker, Eveready Industries India, is charting out a roadmap focused on growth and profitability, combined with the “highest” degree of good corporate governance, in order to take it to new heights. Addressing shareholders, Suvamoy Saha, managing director, who was elected to chair the annual general meeting (AGM), said that the company was now on a journey towards higher reaches and was in the midst of a transformation that provides the roadmap. There was an obvious focus on topline growth, he said later, responding to shareholder queries.

NMDC shareholders, creditors approve Nagarnar Steel Plant demerger:

CMD The shareholders and creditors of NMDC have approved the demerger of the company's under-construction Nagarnar Steel Plant (NSP), its Chairman and Managing Director Sumit Deb said. The demerger of NSP from NMDC is progressing, Mr Deb who was in the national capital, said.

Tata Motors partners with Japan's Renesas to develop chip solutions

Japanese chipmaker Renesas Electronics Corp and India's Tata Motors have formed a strategic partnership to design, develop and manufacture semiconductor solutions for domestic and global markets, the companies said on Wednesday. Renesas will collaborate with Tata Motors, India's biggest manufacturer of electric cars, on developing "next-generation automotive electronics" to accelerate the growth of electric and connected vehicles, the companies said in a statement.

Big agrochem firms may use drones for chemical spraying this kharif season

Major plant protection companies, including biggies like Bayer, Syngenta, Dhanuka Agritech, BASF, UPL and Insecticides India Ltd (IIL), are planning to use drones on an experimental basis to spray chemicals this kharif season to understand its pros and cons before large-scale adoption for commercial use. However, for some, the prohibitive cost of drones and the scarce availability of good quality drones is acting as a hindrance in realising some of the plans, market players and industry sources said.

Edtech company Byju's pushes back payments for $1 billion acquisition

Online education provider Byju’s is pushing back payments for an approximately $1-billion acquisition struck last year, according to people familiar with the matter. Blackstone and other shareholders of Aakash Educational Services were due to be paid partly in cash and partly in Byju’s stock this week, but Byju’s sought a two-month extension, said the people, who asked not to be identified discussing a private matter. Some sellers received partial payment in 2021, the people said.

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