Corporate News - Page 12

Coronavirus Outbreak: Stimulus package for financial sector to ease asset risks, but won't fully offset pandemic blow, says Moody's

Moody's Investors Service on Tuesday said the measures announced by the government for financial institutions as part of Rs 20 lakh crore-economic package will help ease their asset risk, but will not fully offset the negative impact from the COVID-19 outbreak

Rupee rises 20 paise to 75.71 in early trade; initial success in COVID-19 vaccine trial boosts investor sentiment world over

The rupee appreciated 20 paise to 75.71 against the US dollar in early trade on Tuesday as initial success in the COVID-19 vaccine trial boosted investor sentiment world over

Sensex jumps over 400 points to 30,451, Nifty at 8,914-mark in opening session; Bharti Airtel, Kotak Bank shares up

Sensex surged over 400 points in opening session led by gains in HDFC twins, Bharti Airtel and Kotak Bank amid positive cues from global markets.

Bharti Airtel Q4 Results 2020: Telco slips into red, posts Rs 5,237 cr loss on one-time spectrum charges

Bharti Airtel said it undertook a capex investment of Rs 25,359 crore during the year to ensure strong customer experience besides front-ending some investment to ensure seamless services during the pandemic.

Uber to cut 3,000 more jobs in second round of layoffs; 'made incredibly difficult decision to reduce workforce', says CEO in mail to employees

Uber Technologies Inc, the San Francisco-based ride-hailing company, is laying off 25 percent of its staff. It will cut a total of 6,700 jobs, including the 3,700 it had announced earlier this month, Chief Executive Officer Dara Khosrowshahi said.

UN economic experts hail India's 'impressive' stimulus package to revive economy hit by coronavirus

Top UN economic experts have hailed as “impressive” the Rs 20 lakh crore stimulus package, the largest so far among developing countries, announced by India to revive the country's economy, which has been severely hit by the coronavirus-triggered lockdown

Coronavirus Outbreak: Godrej Consumer Products bets big on hygiene products segment; expects it to be 'new core' in next 2-3 years

Godrej Consumer Products performance in India and African markets was impacted during the lockdown, however, in some markets as Indonesia, it has reported growth this quarter despite challenges.

Health groups urges govt to rescind Gilead's patents for COVID-19 drug remdesivir; say move to ensure fair distribution

The aid group Doctors Without Borders has also opposed Gilead’s patents on remdesivir, saying such licensing pacts are “not acceptable” amid a global health emergency.

Coronavirus Outbreak: World Bank approves $1 bn loans for India for social protection response program

The World Bank on Friday approved USD 1 billion ''Accelerating India’s COVID-19 Social Protection Response Program'' to support the country''s efforts for providing social assistance to the poor and vulnerable households, severely impacted by the pandemic

Coronavirus Lockdown: RBI may extend moratorium on repayment of loans for three more months, says report

With the government extending the nationwide lockdown up to 31 May, the Reserve Bank of India (RBI) is likely to extend the moratorium on repayment of loans for three more months, according to an SBI research report

Coronavirus Lockdown: Suzuki Motorcycle resumes production at Gurugram plant

Suzuki Motorcycle India Pvt Ltd (SMIPL) on Monday said it has resumed production at its manufacturing facility at Kherki Dhaula, Gurugram

Coronavirus Outbreak: Snapdeal receives 65% orders from red zone cities on Day one of Lockdown 4.0

E-commerce major, Snapdeal on Monday said that on Day 1 of the expanded operations, the orders at Snapdeal platform grew rapidly and had crossed 2.4 times the average of the previous 15 days by 3 pm on 18th May

Coronavirus Lockdown: Indian economy to contract 5% in FY21, worst-ever performance by country, says Goldman Sachs

American brokerage Goldman Sachs expects the Indian economy to contract by 5 percent in FY21, making it the worst performance by the country ever

Tata Consumer Products to acquire PepsiCo stake in NourishCo Beverages; plans to scale up distributor, vendor networks

Over the last decade, NourishCo has focused on building brands in the healthy hydration space and has Himalayan mineral water, Tata Gluco Plus and Tata Water Plus in its portfolio.

Coronavirus Outbreak: McLeod Russel staring at 5.5-million kg production loss in FY21; company may make recovery in June, July

The tea industry's production loss will be around 115 million kg this year, while in terms of revenue, the figure is likely to be Rs 2,000 crore, he said.

Indiabulls Housing Finance raises Rs 1,030 cr by issuing bonds on private placement basis

Indiabulls Housing Finance Ltd on Monday said it has raised Rs 1,030 crore by issuing bonds on a private placement basis

Kotak Mahindra Bank launches video-based KYC for opening of accounts remotely; facility available only for new customers

Only Indian citizens residing in India during the account opening process are eligible for video KYC, it said adding that the facility is available only for new to Kotak customers.

India-focussed offshore funds, ETFs see $5 bn outflow in March quarter due to COVID-19 pandemic: Report

India-focussed offshore funds and exchange-traded funds (ETFs) witnessed a net outflow of $5 billion in three months ended March 2020, making it the eighth consecutive quarter of withdrawal amid the coronavirus pandemic, according to a Morningstar report

Fuel demand shows signs of revival; petrol, diesel sales rise in May after easing lockdown restrictions

The drop in fuel sales in the first half of May is lower than the reduction seen during 1-15 April 2020.

Funding by General Atlantic, Facebook, others to position Jio as tech player not just telco: Analysts

Recent investments by Facebook, General Atlantic, Vista and Silver Lake will re-position Jio as a major tech player rather than just a telecom service provider, analysts said on Monday

Rupee slips 33 paise at 75.91 on concerns over rise in crude prices, weak domestic equities; stimulus fails to cheer investors

The rupee plummeted by 33 paise to close at 75.91 against the US dollar on Monday, tracking weak domestic equities and foreign fund outflows

SIAM says auto sector left out in economic package; to seek govt's direct intervention for revival of industry

SIAM said it had several engagements with the government at various levels and was looking forward to some direct fiscal measures for the auto industry from the Centre in the Rs 20 lakh crore stimulus package.

Congress claims Rs 20 lakh cr stimulus package announced by Narendra Modi only 1% of GDP, not 10%

Chidambaram said the stimulus package has left several sections like the poor, migrants, farmers, labourers, workers, small shopkeepers and middle class high and dry.

Vedanta's oil and gas head Ajay Dixit quits; company says his term comes to an end

Billionaire Anil Agarwal-led Vedanta Ltd' oil and gas division Cairn CEO Ajay Dixit has decided to hang up his boots at month-end after completing his contractual term, becoming the fifth chief executive to leave the firm since it was taken over by the mining baron more than eight years back

Stimulus package impact: Fiscal deficit of Centre, states likely to be at 12% of GDP, says DBS Bank

The combined fiscal deficit of the Centre and states will top 12 percent of the GDP because of the recent economy-boosting measures, and higher borrowings by States to meet COVID-19 exigencies, says a report

IOC nears first deal to export fuel in second half of this year to Bangladesh Petroleum Corp

India Oil Corp, the country’s top refiner, is close to winning its first contract to supply diesel, jet fuel and gasoline in the second half of this year to state-run Bangladesh Petroleum Corp, two sources with knowledge of the matter said

Diageo exploring options to delist Indian arm United Spirits by buying out minority shareholders

Diageo Plc, the world’s largest spirits maker, is exploring options to delist its Indian arm, United Spirits Ltd, by buying out minority shareholders, CNBC TV-18 reported on Monday

Sensex crashes over 1,000 points, Nifty plunges 314 points on lockdown extension, mega economic package; bank, auto stocks worst-hit

The Sensex ended 1,068.75 points or 3.44 percent lower at 30,028.98, while the broader NSE Nifty plunged 313.60 points or 3.43 percent to 8,823.25.

Jio is uniquely positioned to democratise data and digital services, says General Atlantic's Sandeep Naik

General Atlantic announced an investment of Rs 6,598 crore to pick up a 1.34 percent stake in Jio Platforms, valuing the latter at Rs 4.91 lakh crores

Stock Market Latest Updates: Sensex plummets over 1,000 points, Nifty at 8,829; IndusInd Bank, HDFC among top losers

Stock Market Latest Updates: Sensex plummets over 1,000 points, Nifty at 8,829; IndusInd Bank, HDFC among top losers