Corporate News - Page 22

Oil prices fall on US-China tensions, weak factory data; crude inventories likely to increase in coming weeks

While global oil demand is expected to recover modestly from April lows as countries ease some lockdown measures, the glut created over months in storage facilities will loom over the markets.

Adani Green Energy posts Rs 55 cr net profit in March quarter; revenue from power generation up by 8% at Rs 2,065 cr

On a full-year basis, Adani reported narrowing of consolidated net loss at Rs 67.96 crore in 2019-20. In the 2018-19 fiscal, its net loss was Rs 475.05 crore.

Rural SHGs to list products on GeM portal for govt buyers; 913 sellers from 11 states registered, over 400 products put up on sale

In order to handhold and facilitate SHGs in uploading their products, GeM is assisting with product catalogue management, order fulfilment and bid participation.

Coronavirus Lockdown: ICRA expects GDP to contract by 20% in June quarter; 2% fall in current fiscal

After the government announced graded relaxations in the lockdown, domestic rating agency ICRA on Monday estimated that the country's GDP might contract by as much as 20 percent in the June quarter and is expected to overcome some lost ground in the remainder of the year but still close 2020-21 down by up to 2 percent

Rupee settles 64 paise lower at 75.73 on heavy selloff in domestic equities; dollar strengthens overseas

The Indian rupee depreciated by 64 paise to settle at 75.73 (provisional) against the US dollar on Monday tracking heavy selloff in domestic equities and a strengthening greenback overseas

Markets end in red: Sensex plummets 2,002 points, Nifty suffers heavy loss of over 560 points; ICICI Bank top loser

Sensex plunged 5.94 percent or 2,002 points on Monday, tracking massive selloffs in global markets amid rising US-China tensions.

Loadshare Networks raises Rs 100 cr to fund expansion in Series-B funding from investors

Logistics platform Loadshare Networks has raised Rs 100 crore in Series-B funding from investors led by Beenext, with participation from the CDC Group of Britain and existing investors like Matrix Partners India, Stellaris Venture Partners and Alteria Capital

Capital, debt market service providers to remain operational during lockdown: SEBI

Market regulator SEBI has said that entities providing capital and debt market services will continue to remain operational during the nationwide lockdown which has been extended for another two weeks contain the spread of COVID-19

Sports community platform Rooter raises $1.7 mn led by Paytm, leAD Sports and others

Sports community platform Rooter on Monday said it has raised $1.7 million (about Rs 13 crore) in funding from Paytm, leAD Sports, Rockstud Capital and Founder Bank Capital

Fuel demand hit: Petrol sales down 61%, diesel at 56.5% in April; demand expected to pick up this month

India's fuel consumption slumped by close to 70 per cent in April as all petroleum products except LPG saw massive demand erosion following a nationwide lockdown halted economic activity and travel

Coronavirus Outbreak: E-commerce cos geared up for shipping non-essentials but sales may be hit as large markets in red zone

E-commerce companies are geared up to start shipping non-essential items to customers in orange and green zones from Monday, but sales could be impacted as metros and many large cities are in red zones

Coronavirus Lockdown: JSW Steel reports 60% fall in output at 5.63 lakh tonne in April

JSW Steel has registered a sharp fall of about 60 percent in its crude steel production at 5.63 lakh tonne (LT) amid lockdown during April 2020. The company had produced about 13.90 LT of crude steel during the same month in 2019

GoAir pays salaries to 40% staff, rest to be paid in graded manner, reveals promoters letter to employees

GoAir has retained all its employees but salaries are being paid on a graded basis.

Bad loans of Bank of Baroda, Indian Bank surge multi-fold in six years: RTI data

Non-performing assets of Bank of Baroda soared more than six-fold to Rs 73,140 crore while those of Indian Bank surged four-times to Rs 32,561.26 crore in six years, according to a Right to Information reply

Cornavirus Outbreak: India's manufacturing sector activity hits record low in April due to lockdown, says PMI survey

The country's manufacturing sector activity witnessed an unprecedented contraction in April amid national lockdown restrictions, following which new business orders collapsed at a record pace and firms sharply reduced their staff numbers, a monthly survey said on Monday

Auto stocks slump nearly 12% as lockdown-hit automakers score nil domestic sales in April; Index drops over 6%

Auto stocks on Monday plunged nearly 12 percent after top carmakers, including Maruti Suzuki reported zero monthly domestic sales for the first time ever in April after the nationwide lockdown halted output and shut sales network

Hindustan Unilever shares drop over 5% after company reports 4% decline in net profit in Q4

Shares of Hindustan Unilever on Monday fell 5.5 percent after it reported a 3.93 percent decline in consolidated profit for the fourth quarter due to coronavirus crisis from mid-March

Investors' wealth plummets Rs 5.15 lakh cr in early trade as benchmark Sensex plunges over 1,700 points

Investors witnessed a wealth erosion of Rs 5.15 lakh crore in BSE-listed companies in morning trade on Monday tracking a heavy selloff in the market, with benchmark Sensex plunging over 1,700 points

Reliance Industries to sell $750 million stake in Jio Platforms to Silver Lake, on track to cut debt

India’s Reliance Industries Ltd said on Monday private equity firm Silver Lake will invest nearly $750 million in its digital arm, days after securing a $5.7 billion investment from Facebook Inc, boosting its efforts to cut debt

Reliance Jio-Silver Lake Rs 5,656 cr deal: Investment values Jio Platforms at enterprise value of Rs 5.15 lakh cr; other key highlights

Silver Lake - one of the world's largest tech investors - on Monday agreed to invest Rs 5,655.75 crore to buy a 1.15 percent stake in billionaire Mukesh Ambani's digital unit that houses India's youngest but biggest telecom firm

Silver Lake to invest in Reliance Jio: RIL is systematically bringing down debt getting strategic partners, says Edelweiss

Reliance Industries today said that private equity firm Silver Lake will invest Rs 5,655.75 crore in Reliance Jio Platforms, giving the technology subsidiary an equity value of Rs 4.9 lakh crore.

Reliance Industries shares fall over 3% after Q4 earnings; Silver Lake to invest Rs 5,655.75 cr in Reliance Jio

Reliance shares declined 3.22 percent to Rs 1,419.75 on the BSE.

Markets open in red: Sensex nosedives over 1,500 points, Nifty plunges below 9,500-level; Rupee tanks in early trade

The Sensex was trading 1,513.68 points or 4.49 percent lower at 32,203.94, and the NSE Nifty plunged 425.70 points, or 4.32 percent, to 9,434.20

IT hardware companies expect to resume partial production this week, 100% next month if no change in govt guidelines

Members of two industry associations that are ready for resuming production activity but are apprehensive about execution of order at ground leve

RBI governor meets bank chiefs; reviews execution of measures aimed at reducing financial stress

The RBI governor appreciated the efforts of banks in ensuring normal to near normal operations during the lockdown period.

Mahindra Holidays to first reopen resorts near metro cities post-lockdown; will ensure guest experience is contactless, says CEO

The Mahindra Group firm has currently suspended operations at its resorts in compliance with the government directives.

Warren Buffett's Berkshire posts nearly $50 billion loss hit by coronavirus; says made 'a mistake' investing in airline sector stocks

Berkshire's stock price has fallen 1% in 2020, compared with a 12% drop in the Standard & Poor’s 500, despite Warren Buffett’s prediction that Berkshire would outperform in down markets.

CNBCTV18-CII CEO snap poll: More than 50% expect business normalcy in 6-12 months; want calibrated exit from lockdown

Around 71 percent of the CEOs said layoffs were not imminent in their organisations.

National Company Law Tribunal transfers 8 members with immediate effect; to form a new bench for Cuttack

According to a notification issued by the National Company Law Tribunal Registrar on Thursday, the list comprises four judicial members and four technical members.

FMCG sector clocks lowest Jan-Mar quarter growth in three years; likely to grow by 6% in 2020: Report

The FMCG sector includes non-durable household goods such as packaged food, beverages, toiletries and other consumables that are sold at a relatively low cost.