Corporate News - Page 26
Coronavirus Pandemic: RBI employees contribute Rs 7.30 cr to PM-CARES Fund
The Reserve Bank of India (RBI) on Tuesday said its employees have decided to contribute a salary of one or more days totalling Rs 7.30 crore towards the PM-CARES Fund
Coronavirus Outbreak: ADB approves $1.5 bn loan to India to fight COVID-19 pandemic
The Asian Development Bank (ADB) on Tuesday said it has approved $1.5 billion loan to India to help fund its fight against coronavirus pandemic
Rupee settles 7 paise higher at 76.18 on gains in domestic equities, weak dollar in overseas market
The Indian rupee rose by 7 paise to close at 76.18 (provisional) against the US dollar on Tuesday, tracking positive domestic equities and a weak American currency in the overseas market
Coronavirus Impact: IT services companies to suspend hiring this year, says industry veteran Mohandas Pai
India's information technology services industry would see hiring freeze this year and senior-level staff taking a 20-25 percent salary cut due to the adverse impact of the COVID-19 pandemic, says IT industry veteran T V Mohandas Pai
About 90% of prospective homebuyers see correction in property prices post-lockdown: Survey
According to the survey, 40% of the total prospective homebuyers, who were searching flats for purchase before lockdown, have postponed their plan while 60% are still keen to buy within the next 12 months.
Coronavirus Outbreak: Ind-Ra cuts India's FY21 GDP growth further to 1.9%, lowest in 29 years
India Ratings and Research (Ind-Ra) on Monday revised its FY21 economic growth forecast for the country further down to 1.9 percent, lowest in the last 29 years, citing the COVID-19 pandemic and the subsequent lockdown
Reliance Industries to consider first rights issue in three decades; company's board meets on Thursday
India’s Reliance Industries Ltd said it will consider its first rights issue in almost 30 years when its board meets on Thursday, in another attempt to slash its debt
Coronavirus Outbreak: CRISIL cuts India's GDP growth forecast by half to 1.8% for FY21; projects Rs 10 lakh cr loss due to covid-19
Domestic rating agency CRISIL on Monday nearly halved its GDP forecast for India to 1.8 percent for 2020-21 while projecting total losses of Rs 10 lakh crore or Rs 7,000 per person due to "disastrous" lockdowns to control COVID-19 pandemic
Facebook-Jio deal a positive; concerns around flouting of net neutrality, data safety norms unfounded: Industry forum
Facebook's decision to invest $5.7 billion (about Rs 43,574 crore) in Jio Platforms is a big positive for India's digital services sector, and any apprehension that net neutrality or data protection norms may be flouted or consumer interest harmed, is "erroneous and far-fetched", industry body BIF said on Monday
Yes Bank scam: Special court sends Kapil, Dheeraj Wadhawan to CBI custody till 29 April
A special court here on Monday remanded DHFL promoter Kapil Wadhawan and RKW Developers promoter Dheeraj Wadhawan to CBI custody till 29 April in connection with the Yes Bank scam, officials said
Ambuja Cements shares gain over 4% after company posts 6.8% rise in consolidated net profit in Jan-Mar quarter
Shares of Ambuja Cements Ltd on Tuesday gained over 4 percent in early trade after the company reported a 6.80 percent rise in its consolidated net profit for the first quarter ended 31 March
Coronavirus Outbreak: CBDT third-time defers GST, GAAR reporting in Income-Tax audit report till March 2021
The Income Tax Department on Monday deferred for the third time the requirement for companies to include in their I-T audit report the details of the Goods and Services Tax (GST) and GAAR
COVID-19 does not hamper food cravings; pizza, biryani top among most wanted items during lockdown
The report also revealed that most of India has been craving pizza since the lockdown has been implemented, except Chennai, Hyderabad and Kolkata where their popular and indigenous Biryani recipes reign supreme.
Rupee slips 15 paise to 76.40 in early trade amid volatility in domestic equities; dollar strengthens overseas
The rupee depreciated 15 paise to 76.40 against the US dollar in opening trade on Tuesday, amid strengthening American currency overseas and volatility in domestic equities
Coronavirus Outbreak: SpiceJet operates freighter flight from Shanghai to Delhi carrying medical supplies
Amid the coronavirus outbreak, SpiceJet on Monday said it operated a freighter flight carrying approximately 18 tonnes of medical supplies from Shanghai to Delhi
Biocon chief Kiran Mazumdar-Shaw recognised among world s top 20 inspirational leaders in Biopharma
Biocon Ltd announced on Monday that The Medicine Maker Power List 2020 has ranked its Executive Chairperson Kiran Mazumdar-Shaw as one of the world's top 20 inspirational leaders in the field of biopharmaceuticals
LIC's new premium business jumps 25.2% in FY20, records best sales in past six years; market share up 1.2%
Despite losing the most productive fortnight of the year to COVID-induced lockdowns, the national insurer LIC achieved a healthy 25.2 percent growth in the first-year new business premium in 2019-20, while private players collectively recorded just 11.64 percent
Coronavirus Outbreak: Volkswagen, BMW, Mercedes take online sales route during lockdown
German automakers Volkswagen, BMW and Mercedes on Monday said they have introduced online sales initiatives in India in order to help customers book vehicles from the safety of their homes amid the coronavirus pandemic
Coronavirus Outbreak: FMCG companies launch special insurance schemes for 'frontline' workers
Leading FMCG companies such as Nestle India, Godrej Consumers Products Ltd and Dabur are providing special insurance covers to their 'frontline' workforce, including those of distributors, who are engaged in supply and distribution of their products during the coronavorus pandemic
RBI MF liquidity window to improve investor confidence, calm down corporate debt market: Experts
Experts on Monday termed the RBI's move to open a special liquidity facility of Rs 50,000 crore for the mutual fund sector as "brilliant", saying it will improve investor confidence and reduce stress in the corporate debt market
P Chidambaram welcomes RBI's Rs 50,000-cr special liquidity facility for mutual funds
Former Finance Minister P Chidambaram on Monday lauded the RBI's prompt action in announcing a Rs 50,000 crore special liquidity facility for mutual funds
Coronavirus Lockdown: Automakers yet to resume production, wait for supply chain to restart
A week after the Centre announced allowing partial resumption of production by industries, automobile companies including Maruti Suzuki, Toyota, Tata Motors and Mercedes-Benz are yet to resume production stating that the entire supply chain, including component suppliers and dealers, needs to start operating to re-start production
Adani Power reports Rs 1,312 cr loss during Q4, total income declines; FY20 net loss widens to Rs 2,275 cr
Adani Power had posted a consolidated net profit of Rs 634.64 crore in the year-ago quarter, Adani Power said in a BSE filing.
Coronavirus Outbreak: Transporters demand pandemic insurance cover for drivers, co-workers; seek relief package
The apex body of transporters that represent about 95 lakh truckers and entities, demanded immediate COVID-19 insurance cover for the drivers and co-workers engaged in essential services and cargo and passenger space.
SEBI cuts broker turnover fees, filing charges for draft papers; to implement revised margin framework for cash, derivative segments in June
In a separate circular, SEBI has extended the implementation of revised margin framework for cash and derivatives segments by one month till 1 June.
Meeting FY21 fiscal deficit target to be very challenging; RBI yet to make decision on monetisation: Shaktikanta Das
The RBI announced long-term and targeted long-term repo operations (TLTRO) to ensure credit flow from banks to NBFCs but banks used the money to buy government bonds or top-rated corporate debt.
IndusInd Bank Q4 net profit down 16% at Rs 301.74 cr; bad loan provisions jump 56%
IndusInd Bank on Monday reported a 16 percent decline in its standalone net profit at Rs 301.74 crore for the quarter ended March 2020, on higher provisioning
Power ministry extends deadline for stakeholders' feedback on draft Electricity Bill till 5 June
The AIPEF had strongly condemned the timings of the power ministry's move to bring back the Electricity Amendment Bill 2020 when the whole country is fighting against the COVID-19 pandemic.
Rupee rises by 21 paise to 76.25 in line with firm stocks; expectations of more stimulus measures from central banks boost sentiment
The rupee rose by 21 paise to close at 76.25 against the US dollar on Monday, tracking positive domestic equities and weakening of the American currency in the overseas market
Mindtree shares zoom over 13% after company reports 3.9% rise in net profit for March 2020 quarter
Mindtree's board of directors has recommended a final dividend of Rs 10 per equity share for the financial year ended 31 March 2020, subject to the approval of shareholders at the 21st annual general meeting.