Corporate News - Page 8
RBI slashes repo rate: Big relief to small businesses but more support needed; move to revive demand, say industry bodies
The benchmark repurchase (repo) rate was cut by 40 basis points to 4 percent, the lowest since the benchmark came into being in 2000, RBI Governor Shaktikanta Das said.
Rupee falls 34 paise to close at 75.95 against dollar; RBI rate cut booster dose fails to cheer investors
The Indian rupee slipped 34 paise to close at 75.95 against the US dollar on Friday as Reserve Bank''s fresh measures to alleviate economic distress failed to strike a chord with investors
UPL Q4 results: Consolidated net profit more than doubles to Rs 617 cr; total income jumps 30%
Agro chemical firm UPL Ltd on Friday reported more than two-fold jump in its consolidated net profit at Rs 617 crore for the quarter ended March
Reliance Industries selling 17% stake in Jio Platforms in one month to help pare half its net debt: Moody's
Reliance Industries selling over 17 percent stake in its digital unit Jio Platforms for a combined Rs 78,562 crore in one month will help pare about half of its net debt of Rs 1.61 lakh crore, Moody's Investors Service said on Friday
Govt stimulus package does not address immediate concerns of healthcare system: Fitch Solutions
Fitch Solutions has said that the latest stimulus package does not address immediate concerns of the healthcare system which is reeling under the pressure of COVID-19 pandemic
Sensex drops 260 points, Nifty settles below 9,050-mark at close of trading session; banking, financial stocks drag
Sensex tumbled 260 points on Friday, dragged by losses in banking and financial stocks as RBI's rate cut and other measures to prop up the economy failed to meet market expectations.
RBI monetary policy: GDP growth in 2020-21 likely to be in negative territory, says Shaktikanta Das
The Reserve Bank on India (RBI) on Friday said India''s gross domestic product (GDP) growth will be in negative territory in 2020-21 as the outbreak of coronavirus has disrupted economic activities
Around 8.21 lakh subscribers join ESIC scheme in March as against 11.83 lakh in February: Payroll data
Around 8.21 lakh new members joined the ESIC-run social security scheme in March 2020, against 11.83 lakh in the previous month, according to payroll data of the Employees' State Insurance Corporation (ESIC)
Trade unions stage protests against suspension, tweaking of labour laws by some states during lockdown
Ten central trade unions on Friday held protests across the country to oppose suspension and tweaking of labour laws by states
Income Tax Department issues refunds of Rs 26,242 cr since April to 16.84 lakh taxpayers; move to ease liquidity
The tax department on Friday said it has issued I-T refunds of Rs 26,242 crore to 16.84 lakh taxpayers since April as part of efforts to hasten refund process for making liquidity available with people and firms to deal with COVID-19 crisis
Indian economy to contract in FY21; lockdown compounds economic challenges, says Moody's
Moody's Investors Service on Friday said India's economy is expected to contract for the first time in more than four decades saying economic damage owing to the coronavirus-induced lockdown will be significant with lower consumption and sluggish business activity
Bosch Q4 net profit down 80% at Rs 81 cr; says results in line with downward trend in automotive industry
During the quarter, Bosch made an incremental provision of Rs 297 crore as part of an overall provision of Rs 717 crore towards various restructuring, reskilling and redeployment initiatives for 2019-20.
Real estate players want banks to pass on benefit of rate cut to customers; demand one-time debt restructuring
Real Estate sector can act as a catalyst in resurrecting the economy, backed by stringent fiscal and non-fiscal measures," CREDAI President Satish Magar said in a statement.
JSW Steel Q4 results: Consolidated profit shrinks 87% to Rs 188 cr; total income drops 20% to Rs 18,009 cr
Sajjan Jindal-led JSW Steel on Friday reported a sharp 87.42 percent decline in consolidated net profit to Rs 188 crore for the quarter ended on 31 March, 2020, mainly on account of lower-income
Uber resumes operations in Coimbatore; says to ensure earning opportunities for driver-partner community
The Uber Intercity operations would be limited to travel with necessary authorisation within the state and in permissible zones only, Uber India said in a statement.
Godrej Industries Q4 results: Consolidated net profit at Rs 102 cr, net sales at Rs 3,121 cr
Godrej Industries on Friday reported a consolidated net profit of Rs 102.08 crore for March quarter of 2019-20 financial year
KKR-Reliance Jio Platforms deal: All you need to know about the US-based private equity firm
Reliance Industries Limited (RIL) and Jio Platforms Limited, India's leading digital services platform, announced on Friday that US private equity fund, KKR will invest Rs 11,367 crore into Jio Platforms
KKR will invest Rs 11,367 cr into Reliance Jio Platforms: Key takeaways from the deal with global PE firm
KKR will invest Rs 11,367 crore into Jio Platforms: Key takeaways from the deal with global PE firm
Will look for more digital, tech-driven investments in India, says Sanjay Nayar of KKR
KKR will be investing Rs 11,367 crore in Jio Platforms for a 2.32 percent stake. This is KKR's largest investment in Asia.
RBI monetary policy: Central bank extends moratorium on loans for another 3 months till August
Reserve Bank Governor Shaktikanta Das on Friday extended the moratorium on payment of loans by another three months till August to provide much-needed relief to borrowers whose income has been hit due to the coronavirus crisis
Coronavirus Outbreak: RBI cuts repo rate by 40 bps to 4%; full text of Shaktikanta Das' statement
The Reserve Bank of India Governor Shaktikanta Das on Friday said the central bank reduced the repo rate by 40 bps to 4 percent to ease the financial stress caused by the Covid-19 pandemic
Coronavirus Outbreak: RBI cuts repo rate by 40 bps to 4%; full text of resolution of monetary policy statement
To mitigate the economic impact of COVID-19 outbreak, in a surprise move, the Reserve Bank of India (RBI) on Friday again reduced the key lending rates by 40 basis points
Coronavirus Outbreak: Paytm records 4 times growth in payments made to merchants during lockdown
Digital payments firm Paytm has recorded around four-fold jump in payments received by merchants in its new ledger service amid the coronavirus pandemic, a senior company official said on Thursday
COVID-19 impact: GMR's Delhi, Hyderabad airports to provide contact-less food service to air passengers
GMR said that as social distancing has become the new norm due to the pandemic, the company took many initiatives to enhance passenger safety and comply with COVID-19 safety measures.
No restrictions on utilisation of additional borrowing by states, says official; to get extra resources of Rs 4.28 lakh cr
Finance Minister Nirmala Sitharaman had said that an increase in borrowing limits will be subject to states taking citizen centric reforms, which are aimed at improving quality of service delivery to the public.
JK Lakshmi Cement shares trim most of sharp early gains, close over 3% higher on Q4 earnings
JK Lakshmi on Wednesday reported more than twofold jump in consolidated net profit to Rs 98.63 crore for the fourth quarter ended on March 2020, helped by cost reductions.
Rupee gains 19 paise to close at 75.61 on hopes of forex inflow as economic activities resume
The rupee rose by 19 paise to close at 75.61 against the US currency on Thursday on dollar selling by banks following gains in equities and weakness in the greenback
Coronavirus Outbreak: PHD Chamber Commerce and Industry contributes Rs 528 cr towards PM-CARES Fund
The PHD Chamber of Commerce and Industry (PHDCCI) on Thursday said it has contributed Rs 528 crore towards the PM-CARES Fund to support fight against the coronavirus pandemic
Colgate-Palmolive India Q4 net profit rises 3.3% to Rs 204 cr on tax reversals; COVID-19 outbreak hits sales volume
Colgate-Palmolive said its board in a meeting held on Thursday has declared a second interim dividend of Rs 16 perequity share for the financial year 2019-20.
Coronavirus Outbreak: Log 9 Materials ties up with Indian Institute of Science for its ‘CoronaOven’ project
Nanotechnology start-up Log 9 Materials — which has come up with a time-critical, novel technological solution (in the form of a small disinfection chamber that uses UV- C rays to kill Coronaviruses) to deal with the rising threat of the transmission of Covid-19 through object surfaces, is associating with the Indian Institute of Science - Bangalore for the ‘CoronaOven’ project