Corporate News - Page 5
Chidambaram attacks govt for discontinuing RBI Bonds scheme, says it is another 'cruel blow' to citizens
Senior Congress leader P Chidambaram on Thursday hit out at the government for discontinuing the RBI Bonds scheme, saying it is another "cruel blow" to the citizens
Ujjivan Financial Services shares rally nearly 13% after company's net profit jumps 79% in Q4
Shares of Ujjivan Financial Services on Thursday jumped nearly 13 percent after the company reported over 79 percent jump in its consolidated net profit in the March 2020 quarter
Maruti Suzuki India partners with HDFC Bank to offer flexible car finance schemes
The country's largest car maker Maruti Suzuki India on Thursday said it has partnered with HDFC Bank Ltd to offer flexible finance schemes for new car buyers
Franklin Templeton MF says winding-up process to be delayed in absence of investors' authorisation
Franklin Templeton Mutual Fund, which closed six debt schemes, has said the winding-up process will be delayed in the absence of authorisation from investors and further steps will be possible only after seeking fresh approval from them
Rupee falls 19 paise to 75.90 in early trade; Asian currencies turn weak due to escalation of US-China tensions
The rupee depreciated 19 paise to 75.90 against the US dollar in opening trade on Thursday tracking weak Asian currencies amid an escalation of tension between the US and China
Sensex jumps over 200 points, NSE above 9,390-level in opening trade; RIL, ICICI Bank, HDFC among early gainers
ONGC was the top gainer in the Sensex pack, rising around 3 percent, followed by Tata Steel, L&T, HDFC Bank, ICICI Bank, IndusInd Bank and Axis Bank. On the other hand, M&M, ITC, Infosys, Bajaj Auto, TCS and HCL Tech were among the laggards
S&P projects economy to contract 5% in current fiscal; says lockdown was longer than expected, will slow overall recovery
S&P Global Ratings on Thursday forecast Indian economy to contract 5 percent in the current fiscal as the lockdown imposed to contain COVID-19 pandemic has curtailed economic activity severely.
Cycle Pure Agarbathies launches PurePrayer app for devotees; solution to help book pujas, services at 52 major temples in Karnataka
The PurePrayer app will not add any additional service charge or convenience for connecting the Devotees to the temples.
COVID-19 impact: Supercar group McLaren to cut 1,200 jobs across group; cancellation of motorsport events hurt revenue
McLaren are the second most successful team after Ferrari in the sport’s history and gave Mercedes’ six-times world champion Lewis Hamilton his debut in 2007.
From boom to bottom: Renault, Nissan bet on deeper cooperation; firms under pressure to recover from falling sales
Since its founding in 1999, the partnership between Renault and Nissan was dominated by its leader, Carlos Ghosn.
Google faces antitrust case in India to unfairly promote its mobile payments app in country
India’s antitrust body is looking into allegations that Alphabet Inc’s Google is abusing its market position to unfairly promote its mobile payments app in the country, five sources familiar with the case told Reuters
Oil prices fall on Sino-US tensions over Hong Kong; global energy investment expected to fall by about 20% this year
Gloomy forecasts over the economic impact of the pandemic also weighed on crude oil prices.
Reliance Industries Rights Entitlement shares jump 11% on Day 5 on high volumes
With just two more trading sessions to go, the de-materialised trading of Reliance Industries Ltd - Rights Entitlement (RIL-RE) on Wednesday closed with a 11 percent gain over the previous day
Govt amends norms; companies' contribution to PM CARES Fund to qualify as CSR expenditure
The government has amended the norms whereby contributions by corporates to the PM CARES Fund will qualify as CSR spending under the companies law
Investors' wealth surges by Rs 2 lakh cr as Sensex surges 996 points on firm global cues
Investor wealth surged by Rs 2,01,549.38 crore on Wednesday following a rally in the broader market
National Company Law Tribunal approves IL&FS stake sale in GIFTCL to Gujarat govt
The National Company Law Tribunal has approved crisis-hit IL&FS to selling its stake in the Gujarat International Finance Tec-City Company (GIFTCL) to the Gujarat government
COVID-19 impact: Indian consumers exercise greater decision-making in buying, spending after pandemic outbreak: Deloitte
Consumers are no longer rushing about being home stocked with more than they immediately need.
Nirmala Sitharaman calls FSDC panel meeting on Thursday, to discuss impact of COVID-19 on economy
Finance Minister Nirmala Sitharaman has called a meeting of the Financial Stability and Development Council (FSDC) on Thursday, which among other things will discuss the impact of COVID-19 on the financial sector and the economy
Sun Pharma Q4 results: Consolidated net profit declines 37% to Rs 399 cr; revenue up 14% to Rs 8,185 cr
Pharma major Sun Pharmaceutical Industries on Wednesday reported a 37.12 percent decline in its consolidated net profit to Rs 399.84 crore for the quarter ended March 2020, mainly on account of one time exceptional loss
NTPC to foray into distribution, keen to buy majority stake in ADAG's two utilities in Delhi
State-owned power giant NTPC has decided to foray in electricity distribution business by evincing interest to buy 51 per stake in Anil Dhirubhai Ambani Group's (ADAG) two utilities in Delhi
Banks not passing lower interest rate benefits to borrowers, developers: CREDAI tells RBI
Realtors' apex body CREDAI has written a letter to RBI, complaining that banks are not passing lower rate benefits to home loan borrowers and cash-starved developers
Moderate participation expected in spectrum auctions; telecom industry's debt to elevate at Rs 4.6 lakh cr in FY21: ICRA
Rating agency ICRA expects moderate participation for the upcoming spectrum auctions at Rs 55,000-Rs 60,000 crore due to the limited financial flexibility of the industry
Govt may launch coal blocks auction process under commercial mining on 11 June; 50 mines likely to be put on sale
The government last week approved a methodology for commercial mining of coal on revenue sharing basis.
Markets end strong after subdued sessions: Sensex rallies over 990 points, Nifty surges to 9,315; Axis Bank top gainer, soars over 13%
Sensex rallied 996 points on Wednesday, led by massive gains in banking and IT stocks ahead of the expiry of monthly derivatives amid firm overseas cues.
Rupee settles 5 paise lower at 75.71 against dollar; forex traders concerned over rising US-China tensions
The rupee depreciated 5 paise to settle at 75.71 (provisional) against the US dollar on Wednesday, as market participants were concerned about rising tensions between the US and China amid coronavirus pandemic
Mercedes-Benz launches AMG C63 Coupe, AMG GT R Coupe in India; priced at Rs 1.33 cr and Rs 2.48 cr
German luxury car maker Mercedes-Benz on Wednesday expanded its performance vehicle portfolio in India with the launch of AMG C63 Coupe and AMG GT R Coupe, priced at Rs 1.33 crore and Rs 2.48 crore (ex-showroom India, except Kerala), respectively
Gold prices hit two-week low on optimism around reopening of economies; US-China tensions temper losses
Gold prices touched a two-week low on Wednesday due to optimism around the reopening of several economies, but increasing Sino-US frictions over Beijing’s proposed security law for Hong Kong tempered losses
Future Retail to raise up to Rs 650 cr to reduce debt by issuing non-convertible debentures
Debt-ridden Future Retail on Wednesday said its board has approved raising up to Rs 650 crore by issuing non-convertible debentures (NCDs) to pare debt
Nirmala Sitharaman's economic package: Measures announced by govt to positively impact start-up ecosystem, says IAN
The slew of booster measures by the government will "positively impact" start-ups in the country, especially in sectors like social infrastructure, atomic energy and space exploration, by providing these fledgling organisations with a larger playing field and improving ease of business, according to Indian Angel Network
COVID-19 Lockdown Impact: Fitch Ratings says Indian economy to contract 5% in FY21; forecasts global GDP to fall by 4.6% in 2020
Fitch Ratings on Tuesday forecast the Indian economy to contract 5 percent in the current fiscal on account of the slump in economic activities following a "very severe" lockdown that has lasted much longer than expected