Corporate News - Page 30

Vodafone Idea shares jump 9% as Vodafone Group makes about Rs 1,530 cr accelerated payment

Shares of Vodafone Idea Ltd ended over 9 percent higher on Thursday after British telecom giant Vodafone Plc said it has advanced infusion of $200 million (about Rs 1,530 crore) in its Indian joint venture with Aditya Birla Group, that is facing a humongous liability of past statutory dues

Coronavirus Outbreak: Telecom industry in talks with states, local authorities to open recharge outlets

The telecom industry had been pushing for opening up retail recharge points, particularly to help feature phone mobile users to go in for recharges.

Coronavirus Outbreak: Reliance Industries cuts crude processing at Jamnagar SEZ refinery by 24%

Reliance Industries Ltd has cut crude oil processing at its exports-only refinery at Jamnagar in Gujarat in March by close to one-fourth as it joins public sector oil firms in cutting run-rate to align production with a coronavirus-induced slump in fuel consumption

Markets close on buoyant note: Sensex jumps over 483 points, Nifty tops 9,300-mark; banks, IT, pharma stocks rally

The Sensex surged over 483 points on Thursday, tracking gains in IT and banking stocks as expectations of another stimulus package from the government enthused investor sentiment

Expert hail RBI's liquidity-boosting measures for NBFCs, easing of bad-loan rules; say reverse repo rate cut shall push banks to open up credit flow

The RBI has further given a stimulus to the economy by announcing the second tranche of liquidity with a 25 basis point reverse repo cut taking it to 3.75 percent from 4 percent earlie

Mukesh Ambani regains 'richest person in Asia' tag; topples Jack Ma after $5.7 bn Facebook-Jio deal

Mukesh Ambani, Chairman and Managing Director, Reliance Industries Ltd (RIL) has regained the 'richest person in Asia' tag after Facebook's $5.7 billion (Rs 43,574 crore) investment in Jio Platforms on 22 April.

IndiGo rolls back pay cut in April salary of employees in deference to govt's wishes

IndiGo CEO Ronojoy Dutta told employees on Thursday that the airline has decided to roll back the pay cuts, which were announced earlier for senior staff members, for the month of April in deference to the "government's wishes"

Coronavirus Lockdown: India's crude steel output declines 14% to 8.65 MT in March, says global industry body

The country's crude steel output decline 14 percent to 8.65 million tonne (MT) during March, according to a report by the World Steel Association

No FIR against unit owner if any of its worker tests Covid-19 positive: Haryana CM assures industry owners

Haryana Chief Minister Manohar Lal Khattar on Wednesday sought to assure the industry owners that no FIR will be registered against any unit owner, who has been given permission to restart unit during the lockdown, if any of their worker contracts coronavirus

Coronavirus outbreak highlighted vulnerabilities in medical manufacturing supply chain: Fitch Solutions

With pharmaceutical supply chains under immense pressure due to COVID-19, China's role as a global ingredient producer has come under scrutiny, Fitch Solutions has said

Govt okays subsidy rates for P&K fertilisers for FY21; estimates outgo at over Rs 22,000 cr

The government on Wednesday approved nutrient-based subsidy rates for phosphatic and potassic (P&K) fertilisers for the current financial year with an estimated burden of Rs 22,186 crore on the central exchequer

Industry leaders applaud Facebook-Jio deal; say India to be growth epicentre post-COVID crisis

Facebook's Rs 43,574 crore-investment in Jio Platforms earned accolades from industry leaders on Wednesday, even as some internet activists raised privacy concerns

Coronavirus Outbreak: Record US jobless claims wipe out post-Great Recession employment gains

A record 26 million Americans likely sought unemployment benefits over the last five weeks, confirming that all the jobs created during the longest employment boom in US history were wiped out in about a month as the novel coronavirus savages the economy

FinMin notifies changes in FDI policy; prior govt approval must for investments from countries sharing land borders

The Finance Ministry on Wednesday notified changes in FDI rules, which made prior approval of the government mandatory for foreign investments from countries that share border with India, to prevent the opportunistic takeover of domestic firms amid COVID-19 pandemic under the FEMA law

Meghalaya govt increases taxes on auto fuel; petrol to cost Rs 74.90 per litre, diesel at Rs 67.50

The Meghalaya government has increased taxes on petrol and diesel from Wednesday amid the nationwide lockdown and plunging crude oil prices, officials said on Wednesday

Rupee rises 48 paise to 76.20 in early trade on foreign fund flows; most Asian currencies rebound

The Indian rupee appreciated by 48 paise to 76.20 against the US dollar in early trade on Thursday tracking positive opening in domestic equities and rebound in most Asian currencies

Coronavirus Impact: Two SpiceJet lessors in talks to terminate contracts, reclaim planes over missed payments, says report

One of the leasing companies started to pull out a few planes earlier this year after SpiceJet failed to pay maintenance fees due since late last year

Reliance Jio-Facebook $5.7 bn partnership: Mark Zuckerberg-led social media firm to get deeper access to India; deal to help reduce RIL debt burden

Facebook has bought a 9.9 percent stake in Reliance Jio in a multinational-dollar deal.

Facebook buys 9.9% stake in Reliance Jio: What does Mark Zuckerberg-led social media giant gain from it?

Facebook has bought a 9.9 percent stake in Reliance Jio for $5.7 billion (Rs 43,574 crore), the telecom unit of Reliance Industries Ltd (RIL

Facebook buys 9.9% stake in Reliance Jio: Why it is a win-win deal for both; key highlights of $5.7 billion deal

Facebook makes the largest investment for a minority stake by a technology company anywhere in the world and the largest FDI in the technology sector in India, Reliance Industries Limited (RIL) said in a statement.

Reliance Jio-Facebook deal: 'Marriage of two super powers, will be a transformational partnership for India', say experts

Facebook is investing $5.7 billion in Reliance Industries Ltd's (RIL) Jio Platforms

Facebook invests $5.7 billion in Reliance Industries Jio Platforms; plans digital services for Indian grocers

The deal for 9.99 percent of Jio Platforms, which houses the telecoms unit Jio Infocomm as well as other news, movie and music apps, gives Jio Platforms an enterprise value of about $66 billion, Reliance said.

Reliance Jio-Facebook partnership will accelerate India's digital transformation: Mukesh Ambani

In a video statement, Mukesh Ambani said he is delighted to welcome Facebook as a long-term partner and said the two companies will together accelerate India’s digital transformation to empower, enable and enrich people.

Reliance Jio-Facebook deal: Mark Zuckerberg shares 'excitement' over $5.7 bn partnership, says committed to connecting more people with Jio

The multibillion-dollar deal gives the Facebook a firm foothold in a fast-growing massive market and helps the Reliance Jio, the Indian oil-to-telecom conglomerate to significantly cut debt.

Facebook's Rs 43,500-cr investment in Jio likely to be big boost to telco's maiden offering plans

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