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Corporate News - Page 9

Bajaj Finserv Q4 profit tumbles 77% to Rs 194 cr as COVID-19 provisions rise; interest revenue up 58% at Rs 7,919 cr

Bajaj Finserv's total insurance business in the March quarter declined significantly by 22 percent to Rs 6,066 crore.

Reliance Industries Rights Entitlement shares jump 16%; extends uptrend on second consecutive day

De-materialised trading of Reliance Industries Ltd - Rights Entitlement (RIL-RE) continued to draw strong demand on day-two on the stock exchanges on Thursday, rising by nearly 28 percent in intra-day trading before closing with a gain of 15.6 percent

ICICI Bank offers interest rate of 6.55% to senior citizens, 80 bps more than general public

Private lender ICICI Bank on Thursday announced a fixed deposit product with an enhanced interest rate offering of 0.80 percentage point for senior citizens

Govt extends social security scheme for senior citizens till March 2023; rate of return reduces to 7.4% for FY21

The government on Wednesday fixed the annual rate of return for Pradhan Mantri Vaya Vandana Yojana (PMVVY), a social security scheme for senior citizens, at 7.4 percent for 2020-21, down from 8 percent in the previous fiscal, as it extended the scheme by three years

Airline stocks gain after govt announces resumption of domestic flight services 25 May; IndiGo surges over 7%

Aviation stocks gained after the government announced that domestic airline operations will resume on 25 May.

Govt releases Rs 92,077 cr towards devolution of central taxes to states for April, May, says Nirmala Sitharaman

The government on Thursday said it has released Rs 92,077 crore towards the devolution of central taxes to states for April and May

Govt notifies changes in rules disallowing global tender for procurement up to Rs 200 cr; move to benefit MSMEs

The government has notified amendments to General Financial Rules (GFR) to ensure that goods and services valued less than Rs 200 crore are being procured from domestic firms, a move which will benefit MSMEs

Nirmala Sitharaman to meet PSB chiefs tomorrow to discuss loan disbursement; to review interest rate transmission to borrowers

The deployment of excessive funds by banks under the reverse repo route may also come up for discussion on Friday, sources said.

Coronavirus Lockdown: Govt cap fares of Mumbai-Delhi route at Rs 3,000-10,000; comes out with guidelines for domestic air travel

About a third of operations will be allowed under strict norms when domestic flight services restart on Monday after a two-month hiatus and all the airlines will have to adhere to the upper and lower limits of fares prescribed by the government, the Civil Aviation Ministry said on Thursday

Hindustan Zinc net profit drops 33% to Rs 1,339 cr in March quarter; ramps up operation back to normal level

Hindustan Zinc's total income declined to Rs 4,861 crore in the January-March quarter, compared with Rs 6,030 crore in the year-ago period.

Amazon enters Indian food delivery market, to compete against Zomato, Swiggy; starts operations in select parts of Bengaluru

Amazon India on Thursday said it is launching its food delivery operations in select parts of Bengaluru, a move that will see the e-commerce giant compete against major players like Zomato and Swiggy in the country

Coronavirus Lockdown: Swiggy, Zomato start home delivery of alcohol in Ranchi; to add other cities over next couple of days

Swiggy, on-demand delivery platform, has enabled online processing and home delivery of alcohol through the ‘Wine Shops’ category on the Swiggy app

Coronavirus Outbreak: Kerala records highest number of cyberattacks during lockdown, says report

The COVID-19-induced lockdown saw a spurt in crybercrimes in India with Kerala recording the highest number of cyberattacks during the period, according to an analysis of IT security solutions provider K7 Computing

Markets close with gains: Sensex rises 114 points, Nifty above 9,100-mark; ITC top gainer, rallies over 7%

Nifty Auto and FMCG ended with over 2.3 percent gains which have offset the sell-off of the banking stocks.

Coronavirus Lockdown: Honda Motorcycle and Scooter India to resume manufacturing operations from next week in phased manner

Honda Motorcycle and Scooter India (HMSI) on Thursday said it will resume manufacturing operations across its four plants in the country in two phases, with Karnataka-based facility kickstarting the process from next week

COVID-19 Lockdown Impact: Nissan India introduces online vehicle booking process

Automaker Nissan India on Thursday said it has launched a new digital initiative enabling customers to book and buy vehicles online amid coronavirus pandemic

Senate passes bill to block Chinese companies from listing their shares on US securities exchanges

The US Senate passed legislation on Wednesday that could prevent some Chinese companies from listing their shares on US exchanges unless they follow standards for US audits and regulations

COVID-19 Lockdown Impact: Jaguar Land Rover India enhances online sales, service network

Jaguar Land Rover (JLR) India on Thursday said it has enhanced its online sales and service initiative amid the coronavirus pandemic

Aviation stocks rally up to 10% after govt announces domestic passenger flights to resume from Monday

Aviation stocks on Thursday rallied up to 10 percent in opening trade after the government announced that domestic passenger flight services will resume from 25 May in a calibrated manner

Malaysia to strengthen trade ties with India after palm oil purchases resume after gap of four months

Malaysia voiced its commitment to further strengthen diplomatic and trade ties with India, after the world’s largest edible oil buyer renewed purchases of Malaysian palm oil, in a sign of improving relations between the two countries

Rupee rises 13 paise to 75.67 against dollar in early trade on positive opening in domestic equities

The rupee appreciated 13 paise to 75.67 against the US dollar in early trade on Thursday tracking positive opening of domestic equities

Nirmala Sitharaman says Centre has no more announcements to make; rules out any cut in income tax rates

Nirmala Sitharaman, who had over the last week announced an economic package to help revive the economy, said how the coronavirus and the lockdown has hurt revenues is yet to be completely assessed.

Coronavirus economic stimulus package: Cabinet approves Rs 10,000 cr scheme to support micro food processing units

The Union Cabinet, headed by Prime Minister Narendra Modi, on Wednesday gave approval for a new central scheme with an outlay of Rs 10,000 crore for providing credit-linked subsidy to 2 lakh micro food processing units across the country

COVID-19 impact: Britain's Rolls-Royce to axe 9,000 jobs in air travel slump; more firms resort to lay off on recession woes

Rolls-Royce said it was targeting 1.3 billion pounds of annual cost savings, with about 700 million coming from layoffs plus other cuts that could include factory closures.

Textiles manufacturer GHCL net profit falls 29% to Rs 85 cr in March quarter; lockdown impacts company's business

GHCL Ltd Managing Director R S Jalan said the current COVID-19 pandemic caused major disruptions in various business segments.

Sundaram Home Finance reports Q4 net at Rs 82 cr; deposits grow 35% to Rs 1,605 cr

Sundaram Home Finance registered disbursements of Rs 2,113 crore for year ending 31 March 2020 as against Rs 2,449 crore registered in the previous year.

Govt for anti-dumping duty on digital printing plates by China, Japan, 3 other nations; move aims at shielding local industry

The authority is of the view that imposition of anti-dumping duty is required to offset dumping and injury, DGTR said

Coronavirus economic stimulus package: Cabinet approves Rs 20,050 cr scheme for fisheries sector