Corporate News - Page 10
RBI board member Satish Marathe says stimulus package fails to involve banks as frontline warriors in economic revival
The stimulus package announced by Finance Minister Nirmala Sitharaman "fails to involve" banks in the economic revival process, a member of the Reserve Bank of India's central board said on Wednesday
Bajaj Auto Q4 net profit dips 4% to Rs 1,354 cr; vehicles sales decline 17% to 9.92 lakh units
Bajaj Auto on Wednesday posted a 3.86 per cent fall in its consolidated net profit at Rs 1,353.99 crore for the fourth quarter ended 31 March
JSW Energy net profit jumps 28-fold to Rs 108.44 cr in March quarter; total income falls 8% to Rs 1,847.65 cr
JSW Energy on Wednesday reported a 28-fold jump in its consolidated net profit to Rs 108.44 crore in the fourth quarter ended March
UltraTech Cement Q4 net profit at Rs 3,239 cr on gains from reversal of income tax; net sales down 13% to Rs 10,745 cr
Aditya Birla Group firm UltraTech Cement on Wednesday reported a consolidated net profit of Rs 3,239.39 crore for March quarter 2019-20, helped by gains from the reversal of the Income Tax
Coronavirus Outbreak: Fifteenth Finance Commission to meet its high level group on health sector on Thursday
The 15th Finance Commission will hold a virtual meeting with its high-level group on the health sector on Thursday to discuss the requirement of increased resources and manpower in the context of COVID-19 pandemic
SEBI asks listed companies to make disclosure about impact of coronavirus pandemic on business
Markets regulator SEBI on Wednesday asked listed companies to make a disclosure about the impact of coronavirus pandemic on their business to investors and stakeholders in a timely and cogent manner
Rupee falls 14 paise to close at 75.80 on concerns over US-China trade tiff, second wave of coronavirus infection
The rupee depreciated by 14 paise to 75.80 (provisional) against the US dollar on Wednesday as headwinds due to US-China trade tiff and worries over the second wave of coronavirus infection weighed on investor sentiment
Coronavirus Outbreak: TCS well-positioned to weather this storm, take advantage of opportunities in downturn, says chairman N Chandrasekaran
The next few months will be difficult for enterprises globally but Tata Consultancy Services (TCS) is well-positioned to weather the storms and take advantage of opportunities that come up during the downturn, TCS Chairman N Chandrasekaran has said
Coronavirus Outbreak: Tata Motors' JLR rolls out first Range Rover made under social distancing measures
The first Range Rover made under new social distancing measures in place to combat coronavirus drove off the production line at the Tata Motors’ owned Jaguar Land Rover’s manufacturing plant in Solihull in the West Midlands region of England on Wednesday, following a recent temporary pause in production due to the pandemic
Dr Reddy's Q4 profit jumps 76% to Rs 764 cr on higher sales in US, Europe; revenue up 10% at Rs 4,432 cr
Dr Reddy's said various initiatives have been undertaken to ensure that our manufacturing-related operations continue unabated enabling it to serve the patients.
Economic package: Successful implementation of support measures for NBFI will be key, says Fitch Ratings
Fitch Ratings on Wednesday said support measures announced by the government for non-banking finance companies seek to ease borrower strain and boost funding conditions for NBFIs, but successful implementation will be the key
Franklin Templeton appoints Kotak Mahindra Bank to assist in monetising assets of 6 wind-up schemes
Franklin Templeton Trustee Services has appointed Kotak Mahindra Bank to work together with Franklin Templeton Asset Management (India) to assist the trustees in monetising portfolios of the six schemes that are being wound up
COVID-19 impact: TCS CEO Rajesh Gopinathan's pay package reduces 16% to Rs 13 cr in FY20 from Rs 16 cr in FY19
Pay package of Tata Consultancy Services CEO and MD Rajesh Gopinathan shrank more than 16 percent to Rs 13.3 crore in 2019-20 compared to the previous fiscal, according to the company's annual report
AIBOC flays govt's decision to privatise PSUs; says move 'does not promote self-reliance but destroys foundation of economy'
All India Bank Officers' Confederation (AIBOC) expresses its outright opposition to and strong anguish over the decision of wholesale demolition of Public Sector Enterprises of India
Coronavirus Lockdown: Ola to lay off 1,400 staff; CEO says revenues decline by 95% in last two months due to pandemic
Cab aggregator Ola is laying off 1,400 staff from rides, financial services and food business as revenues declined by 95 percent in the last two months due to coronavirus pandemic, a note by CEO Bhavish Aggarwal said
H-1B visa holders do not adversely affect US workers; presence of foreign workforce boost employment: Report
The H-1B visa-holders, a majority of them Indian IT professionals, do not adversely affect Americans, according to new research, which also suggests that the presence of foreign workforce having such visas boost employment among other workers in an occupation
L&T Infotech shares surge nearly 8% after company reports 12.9% growth in Q4 net profit
IT company L&T Infotech shares rallied nearly 8 percent on Wednesday after the firm reported a 12.9 percent growth in consolidated net profit for the January-March 2020 quarter
Hyundai Motor India launches new version mid-sized sedan Verna; price starts at Rs 9.3 lakh ex-showroom Delhi
Hyundai Motor India Ltd (HMIL) on Wednesday launched the new version of its mid-sized sedan Verna priced between Rs 9.3 lakh and Rs 15.09 lakh (ex-showroom Delhi)
Indian Railways runs its most powerful 12,000 HP Made in India locomotive in Uttar Pradesh
The Indian Railways' most powerful 12000 HP Made in India locomotive made its maiden commercial run between Deen Dayal Upadhaya and Shivpur stations in Uttar Pradesh on Monday, the national transporter said
Johnson & Johnson to stop selling talc-based baby powder in US, Canada; says demand drops due to 'misinformation'
Johnson & Johnson on Tuesday announced it would stop selling its talc Baby Powder in the United States and Canada, saying demand had dropped in the wake of what it called “misinformation” about the product’s safety amid a barrage of legal challenges
Tata Power shares surge 7% after company posts two-fold jump in March quarter net profit
Shares of Tata Power on Wednesday rallied 7 percent after the company posted a two-fold rise in its consolidated net profit for the January-March quarter compared to the year-ago period
Rupee rises 6 paise to 75.60 against dollar in early trade on positive opening of domestic equities
The rupee appreciated 6 paise to 75.60 against the US dollar in early trade on Wednesday tracking positive opening of domestic equities
Markets open on positive note: Sensex jumps 300 points, Nifty above 8,900; ITC, HDFC, HUL among top gainers
HDFC Bank Ltd and mortgage lender HDFC Ltd, up more than 1 percent each, were the two biggest boosts to the Nifty 50.
Walmart says Flipkart's 'limited operations' during COVID-19 outbreak negatively affected Q1 growth
Walmart International, which is present in nine markets including China, Japan, Mexico, the UK apart from India, saw sales growing by 3.4 percent to $29.76 billion in the January-March period, with e-commerce accounting for 9 percent sales.
Employees' Provident Fund contribution can go higher than 10%, not of employers: Labour ministry
Last week, Finance minister Nirmala Sitharaman had announced the reduction of statutory provident fund contribution by both employers and employees for the next three months to 10 percent of basic wages from 12 percent.
Coronavirus Outbreak: Pandemic to inflict Rs 1 lakh cr loss on realty sector in FY21; long-term outlook may emerge positive: KPMG
The short-term impact in coming 6 to 12 months may be a dampener for realty sector's recovery, forcing sector entities to contract operations, revisit planned developments, expansions, and investments across the sector.
Snapdeal resumes pan-India deliveries; engages law tech platform Legistify to help in logistics planning
Snapdeal said that all deliverable orders from this backlog are expected to be cleared by the end of this month.
WTO: India pushes for building broadband infra, digital skills in LDCs, developing countries; questions rich nations on e-commerce norms
In a special virtual meeting of the WTO's General Council on COVID-19 trade-related measures last week, India stated that there is a digital divide between developed and developing countries.
Coronavirus Lockdown: CAIT urges govt to reconsider economic package, says traders let down by exclusion
Industry body CAIT has urged the government to reconsider the economic package and announce measures to support traders, saying the community feels let down for exclusion from the Rs 20 lakh crore stimulus to aid the economy reeling from the COVID-19 crisis
Reliance Industries to use three-fourth of Rs 53,125-cr rights issue proceeds to repay debt
Reliance Industries will use three-fourth of proceeds of its mega rights issue for repayment of some of its borrowings, according to offer document