Corporate News - Page 26

Govt announces Rs 50 lakh compensation for port employees in case of death due to COVID-19

The government on Tuesday announced a compensation of Rs 50 lakh for dependent members of port employees in case of loss of life due to COVID-19 while discharging duties.

NLC India commences coal mining operations in Odisha; achieves renewable energy generation capacity of 1,404 mw during FY20

NLC had said that the production of 20 million tonnes of coal per annum from Talabira II and III coal blocks would fuel its 4,200 MW thermal power.

Average spot power price remains low at Rs 2.36 a unit during lockdown; revival of industry, commerce to be important: IEX

Earlier, the IEX announced its commitment to assuring round-the-clock access to its platform to facilitate uninterrupted power supply to the nation.

GoDaddy launches new initiatives to help small businesses; offers free upskilling courses for emerging entrepreneurs

GoDaddy is offering its recently upgraded WordPress eCommerce Hosting for Rs 99 for three months, to help small businesses get their online stores up and running in the most efficient way possible.

HSBC first-quarter profit halves on increased loan loss provisions due to coronavirus crisis

HSBC said last week it is pressing ahead with plans outlined in February to shift capital from underperforming businesses, reduce costs and strip out layers of management.

BSE brings negative price feature for commodity derivatives segment after recent development in crude oil futures

BSE will make available the negative price level feature at its trading system for commodity derivatives segment, the leading exchange said on Tuesday

Markets extend gains: Sensex up 371 points, Nifty closes near 9,400-mark; IndusInd Bank jumps 17%

IndusInd bank surged by 17 percent post-management relieved investor concerns over financials.

Coronavirus Outbreak: India's rating could come under pressure if fiscal outlook deteriorates, says Fitch

Fitch Ratings on Tuesday said India's sovereign rating could come under pressure if there is further deterioration in fiscal outlook as a result of lower growth or fiscal easing

Bharti Airtel signs Rs 7,500-cr deal with Nokia to deploy 4G network solution across nine circles

Airtel will reportedly deploy Nokia’s Single Radio Access Network (SRAN) solution across 9 circles in India.

Coronavirus Pandemic: RBI employees contribute Rs 7.30 cr to PM-CARES Fund

The Reserve Bank of India (RBI) on Tuesday said its employees have decided to contribute a salary of one or more days totalling Rs 7.30 crore towards the PM-CARES Fund

Coronavirus Outbreak: ADB approves $1.5 bn loan to India to fight COVID-19 pandemic

The Asian Development Bank (ADB) on Tuesday said it has approved $1.5 billion loan to India to help fund its fight against coronavirus pandemic

Rupee settles 7 paise higher at 76.18 on gains in domestic equities, weak dollar in overseas market

The Indian rupee rose by 7 paise to close at 76.18 (provisional) against the US dollar on Tuesday, tracking positive domestic equities and a weak American currency in the overseas market

Coronavirus Impact: IT services companies to suspend hiring this year, says industry veteran Mohandas Pai

India's information technology services industry would see hiring freeze this year and senior-level staff taking a 20-25 percent salary cut due to the adverse impact of the COVID-19 pandemic, says IT industry veteran T V Mohandas Pai

About 90% of prospective homebuyers see correction in property prices post-lockdown: Survey

According to the survey, 40% of the total prospective homebuyers, who were searching flats for purchase before lockdown, have postponed their plan while 60% are still keen to buy within the next 12 months.

Coronavirus Outbreak: Ind-Ra cuts India's FY21 GDP growth further to 1.9%, lowest in 29 years

India Ratings and Research (Ind-Ra) on Monday revised its FY21 economic growth forecast for the country further down to 1.9 percent, lowest in the last 29 years, citing the COVID-19 pandemic and the subsequent lockdown

Reliance Industries to consider first rights issue in three decades; company's board meets on Thursday

India’s Reliance Industries Ltd said it will consider its first rights issue in almost 30 years when its board meets on Thursday, in another attempt to slash its debt

Coronavirus Outbreak: CRISIL cuts India's GDP growth forecast by half to 1.8% for FY21; projects Rs 10 lakh cr loss due to covid-19

Domestic rating agency CRISIL on Monday nearly halved its GDP forecast for India to 1.8 percent for 2020-21 while projecting total losses of Rs 10 lakh crore or Rs 7,000 per person due to "disastrous" lockdowns to control COVID-19 pandemic

Facebook-Jio deal a positive; concerns around flouting of net neutrality, data safety norms unfounded: Industry forum

Facebook's decision to invest $5.7 billion (about Rs 43,574 crore) in Jio Platforms is a big positive for India's digital services sector, and any apprehension that net neutrality or data protection norms may be flouted or consumer interest harmed, is "erroneous and far-fetched", industry body BIF said on Monday

Yes Bank scam: Special court sends Kapil, Dheeraj Wadhawan to CBI custody till 29 April

A special court here on Monday remanded DHFL promoter Kapil Wadhawan and RKW Developers promoter Dheeraj Wadhawan to CBI custody till 29 April in connection with the Yes Bank scam, officials said

Ambuja Cements shares gain over 4% after company posts 6.8% rise in consolidated net profit in Jan-Mar quarter

Shares of Ambuja Cements Ltd on Tuesday gained over 4 percent in early trade after the company reported a 6.80 percent rise in its consolidated net profit for the first quarter ended 31 March

Coronavirus Outbreak: CBDT third-time defers GST, GAAR reporting in Income-Tax audit report till March 2021

The Income Tax Department on Monday deferred for the third time the requirement for companies to include in their I-T audit report the details of the Goods and Services Tax (GST) and GAAR

COVID-19 does not hamper food cravings; pizza, biryani top among most wanted items during lockdown

The report also revealed that most of India has been craving pizza since the lockdown has been implemented, except Chennai, Hyderabad and Kolkata where their popular and indigenous Biryani recipes reign supreme.

Rupee slips 15 paise to 76.40 in early trade amid volatility in domestic equities; dollar strengthens overseas

The rupee depreciated 15 paise to 76.40 against the US dollar in opening trade on Tuesday, amid strengthening American currency overseas and volatility in domestic equities

Coronavirus Outbreak: SpiceJet operates freighter flight from Shanghai to Delhi carrying medical supplies

Amid the coronavirus outbreak, SpiceJet on Monday said it operated a freighter flight carrying approximately 18 tonnes of medical supplies from Shanghai to Delhi

Biocon chief Kiran Mazumdar-Shaw recognised among world s top 20 inspirational leaders in Biopharma

Biocon Ltd announced on Monday that The Medicine Maker Power List 2020 has ranked its Executive Chairperson Kiran Mazumdar-Shaw as one of the world's top 20 inspirational leaders in the field of biopharmaceuticals

LIC's new premium business jumps 25.2% in FY20, records best sales in past six years; market share up 1.2%

Despite losing the most productive fortnight of the year to COVID-induced lockdowns, the national insurer LIC achieved a healthy 25.2 percent growth in the first-year new business premium in 2019-20, while private players collectively recorded just 11.64 percent

Coronavirus Outbreak: Volkswagen, BMW, Mercedes take online sales route during lockdown

German automakers Volkswagen, BMW and Mercedes on Monday said they have introduced online sales initiatives in India in order to help customers book vehicles from the safety of their homes amid the coronavirus pandemic

Coronavirus Outbreak: FMCG companies launch special insurance schemes for 'frontline' workers

Leading FMCG companies such as Nestle India, Godrej Consumers Products Ltd and Dabur are providing special insurance covers to their 'frontline' workforce, including those of distributors, who are engaged in supply and distribution of their products during the coronavorus pandemic

RBI MF liquidity window to improve investor confidence, calm down corporate debt market: Experts

Experts on Monday termed the RBI's move to open a special liquidity facility of Rs 50,000 crore for the mutual fund sector as "brilliant", saying it will improve investor confidence and reduce stress in the corporate debt market

P Chidambaram welcomes RBI's Rs 50,000-cr special liquidity facility for mutual funds

Former Finance Minister P Chidambaram on Monday lauded the RBI's prompt action in announcing a Rs 50,000 crore special liquidity facility for mutual funds