Corporate News - Page 16

Bajaj Auto dealerships, service centres reopen in several parts of India after relaxing lockdown guidelines

Sharma said Bajaj Auto had earlier announced extension of free services and warranty for customers.

Coronavirus Lockdown: Maruti Suzuki resumes operations at Manesar plant on single shift basis after 40 days of closure

The country's largest carmaker Maruti Suzuki India (MSI) on Tuesday said it has resumed operations at its Manesar plant in Haryana after around 40 days of closure due to the coronavirus-led lockdown

Skoda Auto Volkswagen India employees donate day's salary to support fight against COVID-19

Skoda Auto Volkswagen India on Tuesday said its employees have contributed their one-day salary to combat coronavirus pandemic

Coronavirus Outbreak: PSBs sanction loans worth Rs 6 lakh cr in 2 months for MSME, agriculture sectors, says Nirmala Sitharaman

NBFCs have received Rs 1.18 lakh crore from these banks during the period between 1 March and 8 May.

Bus, train passengers optimistic of resuming travel in next three months; priority shifts to safety, hygiene: Survey

Professional or work-related travel takes top priority followed by social travel as opposed to planned holidays. A whopping 71 percent participants indicated a drop in their planned holidays this year.

Govt does not release April inflation figures as nationwide lockdown prevents data collection

The government did not release the April CPI inflation data on Tuesday as the nationwide lockdown prevented officials from collecting price data at various centres

Discoms generate 95% billing efficiency after installing smart meters; monthly revenue per consumer rises up to 20%

States like Uttar Pradesh, Haryana, NDMC New Delhi and Bihar have installed around 9.84 lakh, 1.23 lakh, 57,000 and 28,000 smart meters, respectively, it added.

Havells Q4 net profit down 10.7% to Rs 177.7 cr; revenue from switchgear segment down 14% at Rs 351 cr

Havells' total expenses were at Rs 2,040.10 crore as against Rs 2,485.62 crore, down 17.92 percent.

Coronavirus Outbreak: KVIC serves legal notices to business firms, claims damages for selling PPE kits using its brand name

KVIC maintains that it has, so far, not launched any PPE kits in the market. The kits developed by KVIC made of khadi fabric are at a testing stage.

Coronavirus Lockdown: Renault India strengthens online sales platform to drive growth

French auto-maker Renault on Tuesday said it has enhanced the digital platform allowing people to book the company's range of cars besides providing financing options to customers

Industrial production falls record 16.7% in March on poor show by mining, manufacturing, electricity

India's industrial production contracted by a record 16.7 percent in March, on account of the poor show by mining, manufacturing and electricity sectors mainly due to the nationwide lockdown, government data showed on Tuesday

Reliance Industries shares decline over 6%; market-cap drops by Rs 61,142 cr

Shares of Reliance Industries Limited on Tuesday tumbled over 6 percent on profit-booking after rallying for the past five days

Blue Star Q4 net profit down 89% to Rs 8.9 cr due to coronavirus lockdown; sales decline 18.5%

Air conditioning and commercial refrigeration company Blue Star Ltd on Tuesday reported a 88.85 percent decline in consolidated net profit at Rs 8.90 crore for the fourth quarter ended March 2020 due to COVID-19 pandemic and the subsequent lockdown

Yes Bank money laundering case: Bombay High Court declines pre-arrest bail to Wadhawans

The Bombay High Court on Tuesday refused to grant pre-arrest bail to DHFL promoters Dheeraj Wadhawan and Kapil Wadhawan in a money laundering case of Yes Bank being probed by the Enforcement Directorate

Sterlite Technologies net profit slumps 50% to Rs 80 cr in March quarter; revenue from operations stands at Rs 1,160 cr

Sterlite Technologies board has recommended final dividend of 175 percent at Rs 3.50 per equity share for 2019-20, subject to shareholders' approval, the statement said.

PNB scam: Case against fugitive Nirav Modi very short on proof, his legal team tells UK court

Nirav Modi's legal team on Tuesday told a UK court hearing the fugitive diamond merchant's five-day extradition trial that the case of fraud and money laundering against him is not backed up with the underlying evidence that proves his dishonesty

SEBI eases compliance norms on consolidated results for banks, insurance companies

Markets regulator SEBI on Tuesday gave relaxation to listed banks and insurance companies for publishing consolidated financial results for June quarter in the wake of coronavirus pandemic

Coronavirus Outbreak: India needs basic income scheme to make lockdown work, says French economist Thomas Piketty

India needs to come out with a basic income scheme to make the lockdown work, noted French economist Thomas Piketty said on Tuesday

Oil prices rise after Saudi Arabia pledge to deepen production cuts in June; Brent crude up 1.3%

Oil prices rose on Tuesday, boosted by an unexpected commitment from Saudi Arabia to deepen production cuts in June to help drain a supply glut built up during the coronavirus crisis

Toyota Motor Corp sees 80% profit drop as coronavirus pandemic wipes $14 billion off car sales

Toyota Motor Corp said on Tuesday it expects profit to drop by 80 percent to its lowest in nine years, as Japan’s biggest automaker grapples with the impact of the novel coronavirus which has sapped global demand for vehicles

Rupee settles 22 paise higher at 75.51 amid weak American currency in overseas market

The rupee surged 22 paise to close at 75.51 (provisional) against the US dollar on Tuesday, amid a weak American currency in the overseas market

UP, MP ease labour laws: India needs to ride this wave focussing on employee health, safety and correct 'miserable' record in this matter

Labour regulations such as 8 hours work days were brought in after years of protests against exploitation.

Piramal Enterprises shares tank nearly 14% after company reports net loss of Rs 1,703 cr in March quarter

Shares of Piramal Enterprises on Tuesday plunged nearly 14 percent after the company reported a net loss of Rs 1,702.59 crore in the quarter ended 31 March

Instances of cloned ATM cards in Delhi; affected customers to get refund: State Bank of India

State Bank of India (SBI) on Tuesday said instances of use of cloned ATM cards have been reported from the national capital and refund will be processed for the affected customers

Honda Motor Co posts $276 mn loss in March quarter due to coronavirus, lockdown; sales decline 15%

Japanese automaker Honda Motor Co. sank deeper into losses for the fiscal quarter that ended in March, as the damage to the industry from the coronavirus outbreak hurt sales and crimped production

Saudi Aramco first-quarter profit falls 25%, below analyst estimates; hurt by lower crude oil prices as coronavirus slashed demand

Saudi Arabian state oil giant Aramco (2222.SE) on Tuesday reported a 25 percent fall in first-quarter net profit, below analyst estimates, hurt by lower crude oil prices as the coronavirus slashed demand

Asian shares decline on jitters over fresh outbreaks of coronavirus cases overshadowed hopes of reopening economies

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