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Corporate News - Page 27

Life insurance companies register 11.4% growth in premium income in FY20; LIC logs 22.5% decline

India's life insurance companies clocked 11.36 percent growth in their collective premium income at Rs 48.26 lakh crore during the fiscal ended March 2020, data from IRDAI showed

Sensex settles 416 points higher at 31,743, Nifty below 9,300-mark; IndusInd Bank, Britannia among major gainers

At close, the Sensex was up 415.86 points or 1.33 percent at 31743.08, and the Nifty was up 127.90 points or 1.40 percent at 9282.30. About 1,286 shares have advanced, 1076 shares declined, and 180 shares are unchanged.

RIL starts using WhatsApp for grocery deliveries but model to evolve: Credit Suisse report

Billionaire Mukesh Ambani's Reliance Industries has started limited test use of WhatsApp to connect customers to grocery stores, days after Facebook decided to invest $5.7 billion in digital assets controlled by the company

Asian stock markets gain after Japan's central bank promised more asset purchases

Asian stock markets gained Monday after Japan's central bank promised more asset purchases to shore up financial markets and more governments prepared to revive struggling economies by reopening businesses

Over one million IT employees will continue to work from home post-lockdown: Kris Gopalakrishnan

More than one million information technology employees are expected to continue to work from home even after the coronavirus-inflicted lockdown situation returns to normalcy, says IT industry veteran Senapathy (Kris) Gopalakrishnan

Franklin Templeton impact: RBI announces Rs 50,000 cr special liquidity facility for mutual funds

The RBI said heightened volatility in capital markets in reaction to COVID-19 has imposed liquidity strains on mutual funds

Franklin Templeton MF committed to return investors money at earliest, says company president Sanjay Sapre

Franklin Templeton Mutual Fund, which closed six of its debt funds citing redemption pressures and lack of liquidity in the bond markets, on Monday said it is committed to return investor money at the earliest

Ducati to resume operations at Borgo Panigale factory in Italy today; workshop staff to start work first

Ducati's restart could allow the firm to reduce at least in part the negative effects of the lockdown that occured at the 'worst time'

Coronavirus Outbreak: Banks have done nothing to help retailers to tide over lockdown crisis, says industry body

Banks have done "sweet nothing" to provide financing to retailers to tide over the lockdown crisis, and the government intervention is needed to avoid mass unemployment in the sector, according to RAI

UK, Europe devise furlough schemes, bailouts for coronavirus-hit private sector

“This is not a time for ideology and orthodoxy. This is a time to be bold. A time for courage,” said Rishi Sunak, the UK’s Indian-origin finance minister, as he summed up the British government’s approach towards the daunting economic fightback against the novel coronavirus pandemic and broadly reflective of the approach taken by most other countries across Europe

AMCs, financial stocks jump up to 13% after RBI announces a Rs 50,000-cr special liquidity facility for MFs

Shares of asset management companies (AMCs) and other financial sector related firms zoomed as much as 13 percent on Monday after the Reserve Bank of India announced a Rs 50,000 crore special liquidity facility for mutual funds

Coroanvirus Outbreak: Mideast economies take massive hit with historic oil price crash

Iraq is planning painful cuts in social benefits relied on by millions of government workers. Saudi Arabia will likely have to delay mega-projects

Foreign portfolio investors pull out Rs 10,347 cr from capital markets in April so far

Remaining risk-averse amid the coronavirus pandemic, overseas investors have withdrawn net Rs 10,347 crore from Indian capital markets in April so far

Shapoorji Pallonji Infra inks Rs 1,554 cr solar assets deal with KKR; to sell 317 MW operational assets in TN, Maharashtra

Shapoorji Pallonji Group, based in Mumbai, operates in over 70 countries with a global turnover of over US$5 billion. SP Infra is the infrastructure development arm with assets and businesses in the renewable and gas-based power, highways, port and terminals in India and overseas.

Coronavirus Outbreak: Prolonged lockdown may push millions into margins of subsistence, says former RBI governor Subbarao

A prolonged lockdown may possibly push millions of Indians into the "margins of subsistence", former RBI Governor Duvvuri Subbarao said on Sunday while expecting a 'V' curved recovery once the COVID-19 crisis ends and the turnaround in India to be faster than some economies

Mindtree shares zoom 10% after Q4 earnings; IT major anticipates softness in demand ahead due to COVID-19 pandemic

Shares of IT firm Mindtree on Monday rallied 10 percent after the company reported 3.9 percent rise in consolidated net profit for March 2020 quarter

Rupee rises 41 paise to 76.05 in early trade; market participants expect more stimulus measures from top central banks

The Indian rupee appreciated by 41 paise to 76.05 against the US dollar in early trade on Monday tracking positive opening in domestic equities and weakening American currency in the overseas market

Coronavirus Outbreak: Airbus asks staff to brace for deeper job cuts; says immediate action necessary as survival in question

People familiar with the matter say Airbus is also in active discussions with European governments about tapping schemes to assist struggling industries, including state-guaranteed loans.

Stock markets open in green: Sensex rallies over 600 points, Nifty tops 9,300-mark in early trade; Rupee up

The Nifty advanced 1.7 percent to 9,310.15 while the benchmark Sensex gained 1.74 percent at 31,850.43.

Coronavirus Impact: Jewellers focus on online sales ahead of Akshaya Tritiya; high price, delivery concerns make customers wary

Akshay Tritiya is one of the biggest gold buying days due to the auspiciousness attached to it

Coronavirus Outbreak: Centre allows neighbourhood and standalone shops to reopen; curbs in hotspots, containment zones remain

However, the order signed by Union Home Secretary Ajay Bhalla, made it clear that shops in market places, multi-brand and single brand malls located in municipality areas shall continue to remain closed till 3 May.

Bank of Baroda board gives nod to raise up to Rs 13,500 cr by March 2021; stock down over 4% on BSE

Bank of Baroda stock closed 4.23 percent down at Rs 46.40 on BSE.

Coronavirus Outbreak: Berger Paints says no plan for retrenchment or salary cut during pandemic crisis

Berger said it has decided against any involuntary furloughs or organisational restructuring that may lead to downsizing of headcount and consequent loss of livelihood during the time of widespread uncertainty.

Mindtree Q4 net profit up 3.9% at Rs 206 cr, closes FY20 with wins of $1.2 bn; says well-equipped to handle global crisis

With 21,991 employees, Mindtree 12 months attrition was at 17.4 percent.

CAIT to launch e-marketplace to enable contactless delivery by local grocery stores

RailTel FY20 consolidated income surges 20% at Rs 1,243 cr; says company registers major growth despite negative growth in market

RailTel is also one of the consistently profit-making telecom PSU despite gloomy market conditions, it said.

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