Corporate News - Page 23

YourNest Venture Capital launches fast-track funding programme SOAR for early-stage startups

SOAR will invest between $250,000 and $1 mn in funding each startup that is selected, it added.

Asian Paints forays into hand, surface sanitizer segment, launches Viroprotek range of products

Asian Paints is manufacturing the hand sanitiser at its company's existing plant at Ankleshwar, Gujarat

Toyota Kirloskar Motor says working with dealer partners to re-stimulate demand; digitalises sales process

Toyota Kirloskar Motor said the restart of the entire value chain and its restoration will be gradual, as the industry is facing varied challenges

Coronavirus impact: Several US airlines ask passengers, crew to get own face masks; make it mandatory condition to fly

This new requirement is part of the airlines' ongoing commitment to prioritizing customers' and team members' well-being in the face of the coronavirus (COVID-19) pandemic,

Indian tech-led startups attract funding worth $2.5 billion in first quarter of 2020, up 14% on-year: Report

Indian tech-led startups attracted funding worth $2.5 billion in the first quarter of 2020, a 14 percent rise compared to the same period last year, a report by research and consulting firm HexGn said

Blue Star to raise Rs 300 cr via NCDs for Capex; lockdown impacts firm's cash flow position

The nationwide lockdown has impacted Blue Star's cash flow position and the firm needs funds for its business continuity and growth over the next 12-18 months, Blue Star said in a regulatory filing.

Coronavirus Outbreak: Piaggio Vehicles extends free service, warranty period by two months

Piaggio Vehicles on Tuesday announced the extension of free service and warranty period for its small commercial vehicles by two months in wake of the ongoing lockdown to curb the spread of COVID-19

Govt makes Rs 159-cr in procurement of coronavirus-related medical items through GeM in one month's time

The commerce ministry launched GeM, an online platform for public procurement, in August 2016 with the objective of creating an open and transparent procurement platform for government.

Amazon India launches a special fund to help small and medium business partners in logistics

Amazon Partner Support Fund follows the recent announcement of the global $25 million Amazon Relief Fund (ARF) in India.

Narendra Modi holds series of meetings to boost economy, attract foreign investment during coronavirus crisis

Narendra Modi reviewed the state of investments, the defence and aerospace sector and the mine and mineral sector.

Britannia launches WhatsApp based store locator; move to help consumers find products in nearby stores

The technology solution has been built to swiftly respond to the surge in consumer demand and the consumers' increasing need to find the range of Britannia products at close proximity to where they reside.

Glenmark to conduct trials for potential COVID-19 drug, first company in India to receive DCGI approval; shares jump 9%

Glenmark filed the product for clinical trials with the DCGI and has received approval for conducting the trial on mild to moderate patients, said the BSE filing.

Farm growth not to be impacted much this fiscal due to coronavirus lockdown, says Agriculture Minister Narendra Singh Tomar

The country's farm sector is functioning smoothly despite COVID-19 lockdown and there will not be much impact on its growth in the current fiscal unlike other sectors, Agriculture Minister Narendra Singh Tomar said on Wednesday

RBI most popular among central banks on Twitter; followers more than double to 7.5 lakh since March 2019

The Reserve Bank of India is not the most powerful in terms of monetary fire power like its peers in the US and Europe but when it comes to popularity, the monetary authority is the most followed on Twitter

Coronavirus Outbreak: Reckitt Benckiser's sales hit record on pandemic disinfectant boom; net revenue rises 12.3% in March quarter

Last week, Reckitt warned people against using disinfectants to treat the coronavirus, after US President Donald Trump appeared to suggest researchers try putting disinfectants into patients’ bodies.

Govt task force calls for boosting private investment in highways; pegs road sector capex at Rs 20.33 lakh cr by 2025

The task force on NIP has stressed the need for more private investment in highways and projected the total capital expenditure in road sector at Rs 20.33 lakh crore in fiscals 2020-2025

Coronavirus Lockdown: Eight core industries' output contracts 6.5% in March; infra sectors log 0.6% growth in FY20

The output of eight core infrastructure industries shrank by 6.5 percent in March due to fall in production of crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity amid the coronavirus lockdown

Hit by coronavirus pandemic, HUL Q4 net profit down 3.9% at Rs 1,512 cr; sales decline 9.6% to Rs 9,055 cr

FMCG major Hindustan Unilever on Thursday reported 3.93 percent decline in consolidated net profit to Rs 1,512 crore for the fourth quarter ended 31 March, impacted by COVID-19 pandemic

Reliance Nippon Life posts 40% rise in PAT to Rs 35 cr for 2019-20; total renewal premium up 4.4% to Rs 3,435 cr

Reliance Nippon Life's individual first-year income grew marginally by 2 percent to Rs 893 crore in 2019-20 from Rs 876 crore in 2018-19.

Tech Mahindra Q4 results: Profit drops 29% to Rs 804 cr, revenue up 6.7%; announces dividend of Rs 5 per share

COVID-19 has brought an unprecedented change in business model for the IT industry, Tech Mahindra Managing Director and CEO CP Gurnani said.

Reliance Industries to hive off $75 bn oil-to-chemical business into separate unit for sale to Aramco

Reliance Industries Ltd (RIL), India's largest company, on Thursday said its board has approved hiving off its $75 billion worth oil-to-chemicals business into a separate division to enable the sale of 20 percent stake in the unit to Saudi national oil company Aramco

Reliance Jio's Q4 net profit soars to whopping 177.5% at Rs 2,331 cr, revenue jumps 27% to Rs 14,835 cr

Reliance Jio's rise in net profit, up from Rs 840 crore reported during the corresponding period of FY 2018-19, was fuelled by rising subscriber base and recent tariff hike.

American Airlines posts $2.2 bn loss on pandemic, first since bankruptcy exit; total operating revenue declines nearly 20% to $8.5 bn

American Airlines has already reduced its flight schedule by about 80 percent in both April and May. Its June capacity will be down 70 percent, it said.

Reliance Industries Q4 results: Net profit at Rs 6,546 cr; announces India's biggest rights issue of Rs 53,125 cr

Reliance Industries has declared a dividend of Rs 6.50 per equity share of Rs 10 each for the financial year ended 31 March, 2020.

RBI extends regulatory benefits under special liquidity facility for mutual funds to all banks

The Reserve Bank of India on Thursday extended regulatory benefits to all banks including those deploying their own resources to extend liquidity support to the mutual funds under the Special Liquidity Facility for Mutual Funds (SLF-MF) scheme

SEBI extends compliance norms for liquid funds till 30 June; deadline to submit cyber security audit reports relaxed

SEBI said that the existing open ended mutual fund schemes need to comply with the revised limits for sector exposure by 30 June.

ABB Power Products posts Rs 29.18 cr net profit in March quarter; total income stands at Rs 812 cr

Last year, ABB India hived off its power grid business and created ABB Power Products and Systems India.

Rupee surges 57 paise to close at 75.09 on higher domestic equity markets, weak US dollar in overseas market

The Indian rupee surged 57 paise to close at 75.09 (provisional) against the US dollar on Thursday, amid higher domestic equity markets and a weak American currency in the overseas market

Coronavirus Outbreak: RBI grants more time to banks to file regulatory returns with delay of up to 30 days

RBI further said "no extension" in timeline is permitted for submission of statutory returns like returns related to CRR/SLR.

Coronavirus Outbreak: DPIIT's control room resolves 1,739 issues of trade, industry during lockdown

All the senior officers of the DPIIT have been assigned specific states with which they continuously interact and urge upon the state functionaries to initiate action on pending issues.