Corporate News - Page 15

Maruti Suzuki board approves supply of SUV Vitara Brezza to Toyota; move to result in incremental sales

In pursuance to the same, in March last year, Maruti board approved the supply of a product derivative of Baleno to Toyota Kirloskar, which currently sells the product as Glanza.

Vedanta stock erases most of early gains, closes over 1% higher due to profit-booking; share falls over 40% this year

At the offer price of Rs 87.5, Agarwal's Vedanta Resources will have to shell out Rs 16,218 crore to acquire all of the public shareholding.

Max Financial Services settles Rs 123 cr tax dispute under Vivad se Vishwas scheme

Max Financial Services Ltd (MFSL) on Wednesday said it has settled a tax dispute involving over Rs 123 crore under the government's 'Direct Tax Vivad Se Vishwas' scheme

Significant advantages exist in $15 bn Reliance Industries- Saudi Aramco deal: HSBC Global Research report

HSBC Global Research in a note said Aramco buying 20 percent in O2C business of Reliance would allow the Indian firm to build financial muscle as it carves out space for itself in highly competitive omni-channel retail

Syngene International Q4 profit up 20% to Rs 120 cr after robust growth in main divisions; income rises

Shares of Syngene International Ltd closed at Rs 325.30 on BSE, up 1.91 percent from the previous close.

Godrej Consumer Products Q4 net profit slips 75% to Rs 230 cr on COVID impact; sales down over 12% to Rs 2,132 cr

Shares of Godrej Consumer Products Ltd on Wednesday settled at Rs 534.55 apiece on the BSE, up 3.24 percent from their previous close.

Tata Motors restarts operations at select plants, dealerships; says designed new ways of working during lockdown

Tata Motors plants in Lucknow, Dharwad, Jamshedpur and Pune (only for ambulance vehicle manufacturing) are in the final stage of readiness and expect to begin production over the next few days.

Maruti Suzuki India Q4 net profit dips 28% at Rs 1,322 cr on lower sales volume, higher promotion expenses

The country's largest carmaker Maruti Suzuki India (MSI) on Wednesday reported a 27.77 percent decline in consolidated net profit to Rs 1,322.3 crore for the fourth quarter of 2019-20, on account of lower sales volume, higher promotion expenses and depreciation expenses

Stimulus package will bring in much needed relief to stressed sectors: TVS Motor Co chairman Venu Srinivasan

TVS Motor Company Chairman and noted industrialist Venu Srinivasan on Wednesday said the government's financial package of Rs 20 lakh crore to revive the economy would bring in much needed relief to several stressed sectors and industries

Miners' body hopes Rs 20-lakh cr stimulus package will be used for giving relief to 'highly taxed' mining sector

Miners' body FIMI on Wednesday hailed the Rs 20 lakh crore special economic package, expressing hope that the stimulus will also be used to give relief to "highly taxed and struggling" mining sector

Cipla inks licensing pact with Gilead Sciences for potential COVID-19 treatment drug remdesivir

Homegrown pharma major Cipla Ltd on Wednesday said it has signed a non-exclusive licensing agreement with Gilead Sciences Inc for manufacturing and distribution of investigational drug remdesivir, a potential therapy for COVID-19

Oil prices fall as fears of second coronavirus wave take hold, US stockpiles rise

Oil prices fell on Wednesday on concerns about a possible second wave of coronavirus cases in countries easing lockdowns, which could prompt renewed movement restrictions, while industry data showed US crude inventories are still rising

Gold holds steady ahead of US Federal Reserve Chairman Jerome Powell's speech

Gold held steady on Wednesday as market participants stayed away from making big bets ahead of a speech by Federal Reserve Chairman Jerome Powell amid rising speculation the United States could one day adopt negative interest rates

Rupee rises 21 paise to 75.30 in early trade; Narendra Modi's Rs 20-lakh cr economic stimulus package enthuses investors

The rupee appreciated 21 paise to 75.30 against the US dollar in early trade on Wednesday as Prime Minister Narendra Modi's Rs 20 lakh crore economic stimulus package enthused investors

Coronavirus Lockdown: Auto component industry likely to witness double-digit degrowth in FY21, says India Ratings

The Auto component industry is likely to witness a second consecutive year of double-digit degrowth this fiscal mainly on account of disruption in operations due to coronavirus pandemic and the subsequent lockdown, according to a report

Hetero inks licensing agreement with Gilead for manufacturing, distribution of remdesivir

Domestic pharma major Hetero on Wednesday said it has entered into a licensing agreement with Gilead Sciences Inc for manufacturing and distribution of remdesivir, a potential therapy for COVID-19

Fresh support of only Rs 12-13 lakh cr in PM Narendra Modi's economic stimulus package: Report

Of the Rs 20-lakh-crore package that Prime Minister Narendra Modi announced to defend the economy against coronavirus disruptions, fresh support may be only around 60 percent of the offer as it counts the first financial stimulus and liquidity support that Reserve Bank has given already, and will overburden bond market, says a report

Coronavirus Outbreak: BRICS' New Development Bank provides $1bn loan to India to fight pandemic

The New Development Bank of the BRICS countries has fully disbursed USD one billion emergency assistance loan to India to help it contain the spread of COVID-19 and reduce human, social and economic losses caused by the coronavirus pandemic

Govt's Rs 20-lakh cr stimulus package to revive commercial vehicle industry, says Ashok Leyland MD

The government’s Rs 20 lakh crore special economic package has the potential to be "sustainably beneficial" to all sectors of the economy and help revive commercial vehicle industry, in particular, Ashok Leyland MD and CEO Vipin Sondhi said on Wednesday

Jet Airways insolvency resolution professional seeks fresh expressions of interest for defunct airline; shares up over 4%

Jet Airways insolvency resolution professional on Wednesday invited fresh expressions of interest (EoI) for the grounded airline

Gold ETFs attract Rs 731 cr in April; coronavirus pandemic severely hit equity investments, global economy

Gold exchange-traded funds have been gaining traction from investors and have attracted Rs 731 crore in April amid increased risk-aversion as the coronavirus pandemic severely hit equity investments and the global economy

Narendra Modi's Rs 20-lakh cr economic stimulus package to boost Make in India programme: Sajjan Jindal

Industrialist Sajjan Jindal on Wednesday welcomed the Rs 20 lakh crore stimulus package announced by Prime Minister Narendra Modi to revive the economy hit by COVID-19, saying it will give a boost to the ambitious Make in India programme

India sees over 1,000 PE, VC deals worth $45 bn in 2019, highest inflow in 10 years: Report

India continued to be the second-largest deal market in the Asia-Pacific region in 2019 with over 1,000 private equity and venture capital pacts valued at $45 billion - the highest in the last decade, a report by Bain & Company said on Wednesday

Kotak Mahindra Bank Q4 net profit down 4% to Rs 1,952 cr; bad loans marginally up at 2.25%

Kotak Mahindra Bank on Wednesday reported 4 percent decline in consolidated net profit at Rs 1,951.82 crore for the fourth quarter ended March 2020 due to COVID-19 related provisions

Reliance Industries' slew of equity deals to drive improvement in company rating: Fitch Ratings

Reliance Industries' proposed $7 billion rights issue, a string of equity deals of $8 billion in Jio Platforms, and $1 billion from a joint venture with BP plc will allow its leverage to improve, Fitch Ratings said on Wednesday

Jubilant Life Sciences shares jump 5% after company signs pact with Gilead COVID-19 therapy drug

Shares of Jubilant Life Sciences on Wednesday rose 5 percent after the company said it has entered into a pact with Gilead Sciences for an investigational drug, remdesivir which is a potential therapy for COVID-19

Vedanta shares zoom 10% after Anil Agarwal announces delisting plan as virus crisis deepens

Vedanta Resources had a market value of under Rs 33,200 crore going by Tuesday''s closing price of Rs 89.30 on the BSE

COVID-19 hits hotel industry: Revenue per room drops 13-29% in Jan-Mar; Bengaluru worst-hit, says report

In revenue per room, the maximum fall was seen in Bengaluru at 28.5 percent, followed by Delhi 20.3 percent, Mumbai 20 percent, Kolkata 19.8 percent

Coronavirus Lockdown: Mercedes-Benz India restarts production at Chakan plant in Pune

Mercedes-Benz India on Wednesday said it has resumed production at its manufacturing facility in Chakan, Pune

Govt extends last date for filing annual GST return for FY19 by 3 months till September

The government has extended the last date for filing annual GST return for the financial year 2018-19 by three months till September 2020