Corporate News - Page 21

Sensex ends over 260 points lower at 31,454; Nifty falls 87.90 points to 9,206; except energy, infra, all sectoral indices in red

The Sensex surrendered all its early gains to end 262 points lower on Tuesday due to emergence of a sudden sell-off in financial stocks at the fag-end of the sessio

Paytm launches Rs 100 cr loyalty scheme for kirana stores to cover up merchant charges

Digital payment firm Paytm on Tuesday announced a Rs 100 crore loyalty programme for grocery stores to cover up losses faced by merchants from transaction charges

Coronavirus Lockdown: EPFO releases total Rs 764 cr to 65 lakh pensioners for April under its pension scheme

Retirement fund body EPFO on Tuesday said it has disbursed a total of Rs 764 crore to 65 lakh pensioners for April under its pension scheme

Rupee surges 10 paise to close at 75.63 on higher domestic equities, gain in some Asian currencies

The Indian rupee surged 10 paise to close at 75.63 (provisional) against the US dollar on Tuesday, amid higher domestic equity markets and gains in some Asian currencies

Air Vistara asks senior employees to go on leave for 4 days for May, June; third month in a row by airline

On 15 April, Vistara chief Leslie Thng announced that senior employees will be going on compulsory leave without pay for up to three days between 15-30 April as a measure to further conserve the airline's cash flow amid lockdown to combat the COVID-19 threat.

DPIIT asks telecom dept, BSNL to hold Rs 9,000 cr worth tender following allegations of anomalies

The Department for Promotion of Industry and Internal Trade (DPIIT) has asked the telecom department and state-owned BSNL to put on hold the tender for setting up 4G network, valued at Rs 9,000 crore, after allegations emerged that the tender favoured foreign companies

Public sector banks' NPAs likely to rise by 2-4%; may push govt to recapitalise via RBI reserves, bonds: Report

State-owned banks' non-performing loans are likely to rise by 2-4 percentage points, which will put up to $15 billion recapitalisation pressure on the government in FY21, a foreign brokerage firm said on Tuesday

Marico Q4 net profit down 50.6% to Rs 199 cr due to COVID-19 related disruptions; net sales drop 7%

FMCG firm Marico Ltd on Monday reported a 50.62 percent decline in consolidated net profit at Rs 199 crore for the fourth quarter ended March 2020 due to COVID-19 related disruptions

Coronavirus Lockdown: Asian Paints, Bharat Forge partially resume operations at some facilities

Asian Paints on Tuesday said it has partially resumed operations at some of its manufacturing locations, warehouses and offices where lockdown restrictions have been eased

Coronavirus Outbreak: NBFCs ask RBI for one-time restructuring of all loans till March 2021

Non-banking financial companies (NBFCs) have asked the Reserve Bank of India to allow them one-time restructuring of all loans till March 2021, as their borrowers are facing funding issues amid the coronavirus pandemic and the subsequent lockdown

Retail sector loses a whopping Rs 5.50 lakh cr since lockdown; around 20% traders may pull down shutters, says CAIT

CAIT said the retail trade may see many more traders pulling down shutters as the sector has become unviable.

Flipkart appoints new chief financial officer; Sriram Venkatraman succeeds Emily McNeal, takes charge today

Walmart-owned Flipkart on Tuesday said it has appointed Sriram Venkataraman as the Chief Financial Officer for Flipkart Commerce (Flipkart and Myntra) with immediate effect

Tata Motors gets nod from board constituted committee to raise Rs 1,000 cr via issue of non-convertible debentures

Tata Motors on Tuesday said a board constituted committee has approved raising up to Rs 1,000 crore via issue of non-convertible debentures on a private placement basis

Tata Steel leaves membership of Indian Steel Association; CEO TV Narendran steps down as President

Tata Steel Ltd has withdrawn its membership from the Indian Steel Association (ISA), an apex steel industry body

Coronavirus Outbreak: RBI may extend bank loan moratorium by another 3 months to help people, industry impacted by lockdown

With further extension of the nationwide lockdown, the RBI is considering a proposal for extending the moratorium on bank loans by another three months to help people and industry impacted by the ongoing lockdown to contain COVID-19

Vijay Mallya files appeal in UK Supreme Court against extradition order to India on charges of fraud, money laundering

Vijay Mallya on Monday filed an application seeking leave to appeal in the UK Supreme Court, exactly two weeks after the embattled liquor baron lost his London High Court appeal against an extradition order to India on charges of fraud and money laundering related to unrecovered loans to his now-defunct Kingfisher Airlines

Vijay Mallya loses UK High Court appeal against extradition case; wanted in Rs 9,000 cr fraud, money laundering charges in India

Vijay Mallya, the 64-year-old former Kingfisher Airlines boss had appealed to the High Court against his extradition to India at a hearing in February this year.

Rupee rises 15 paise to 75.58 in early trade as equities open positive; US dollar weakens overseas

The rupee appreciated by 15 paise to 75.58 against the US dollar in early trade on Tuesday tracking positive opening of domestic equities and weakness in the American currency

Sensex surges over 500 points, Nifty above 9,400-mark in opening trade; RIL, HDFC, ICICI Bank among early gainers

ONGC was the top gainer in the Sensex pack, rallying over 5 percent, followed by M&M, Bharti Airtel, IndusInd Bank, ICICI Bank, PowerGrid and Tech Mahindra.

Oil prices rise on demand prospects as lockdowns start to ease; recovery likely to be slow as airlines may remain grounded for months

Global oil demand probably collapsed by as much as 30 percent in April, analysts have said.

Coronavirus Lockdown: 88 micro financiers ready to begin operations in green, orange zones, says industry body

Microfinance Institutions Network (MFIN) on Monday said 88 micro financiers associated with it are ready to begin operations in green and orange zones

Investors witness wealth erosion of Rs 5.82 lakh cr as equities tank; market sentiments get dampened over renewed Sino-US tensions

Led by weak trend in the equity market, the market capitalisation of the BSE-listed companies fell by Rs 5,82,695.93 crore to Rs 1,23,58,924.89 crore.

IRDAI sets up panel to draft standard professional indemnity policy for insurance intermediaries; asks to submit report in one month

Insurance intermediaries such as insurance brokers, insurance web aggregators, and corporate agent are required to take professional indemnity insurance policies governed by different regulations.

Coronavirus Outbreak: RBI governor Shaktikanta Das meets NBFCs, MFs sector; reviews liquidity situation

Operations of NBFCs have commenced from Monday as the government eased restrictions for the lockdown.

GoAir pitches for govt support to tide over COVID-19 crisis; pays salaries to 40% employees on deferred basis

Budget carrier GoAir is seeking financial support from the government amid the coronavirus pandemic and has paid salaries to some of its employees on deferred basis, according to a communication

Rights issue credit positive for Reliance Industries; to result in debt reduction: Moody's

Moody's Investors Service on Monday said Reliance Industries' Rs 53,100 crore rights issue is credit positive as earnings will decline because of economic shutdowns

Coronavirus Lockdown: Realtors start construction in Gurugram, waiting for permission in Noida, Gr. Noida

Construction activities have resumed in some real estate projects in Gurugram with existing labour force, but builders in Noida and Greater Noida are waiting for permission from the local administration, according to industry bodies

Reliance Industries to raise Rs 53,125 cr via India's biggest rights issue, first-time after 30 years

Billionaire Mukesh Ambani's Reliance Industries Ltd (RIL) on Thursday announced fund raising of Rs 53,125 crore by way of a 1:15 rights issue, the first such issue in nearly three decades, as it steps up efforts to pare debt

KVIC mulls legal action against companies selling 'fake' PPE kits using 'Khadi India' brand name; says PSU’s product still under testing

The KVIC clarified that it has, so far, not launched any PPE kits in the market and said fake equipment are being sold in the name of Khadi India product.

Coronavirus Outbreak: ITC faces union backlash over pandemic work warnings; efforts underway to settle dispute

The ITC Foods Employees Union in Pune wrote to the company condemning the move, pointing out that many workers were back in their villages or staying in areas still under lockdown.