Corporate News - Page 4

Sensex rebounds 224 points from day's low, Nifty at 9,580; ONGC top gainer, jumps over 5%

Sensex jumped 224 points on Friday, driven by gains in HDFC, ITC and HUL despite weak cues from global markets.

Madras High Court issues notices to Franklin Templeton Mutual Fund, SEBI: Investors group

Notices have been issued to crisis-hit Franklin Templeton Mutual Fund and Sebi by the Madras High Court after a petition was filed by an investors group to safeguard nearly Rs 28,000 crore of investors' money stuck in six schemes shut down by the fund house, according to a statement

Vodafone Idea issues clarification: No proposal from Google on investment, says telecom major; evaluating various opportunities

Vodafone Idea said currently there is no proposal as reported by the media that is being considered at the Board

Coronavirus Lockdown: Decision to open shops in malls soon after taking into account health ministry's guidelines

The decision to open shops in malls, will be taken soon, after taking into account the guidelines of the health ministry, the commerce and industry ministry said on Friday

Rupee appreciates 14 paise to close at 75.62; forex traders say investors await Q4 GDP data

The rupee appreciated 14 paise to provisionally close at 75.62 against the US dollar on Friday as foreign fund inflows and weak American currency boosted investor confidence

Coronavirus Lockdown: Economy needs support from PSBs, says Union Bank chief Rajkiran Rai G

The country's economy, which has been hit by the COVID-19 outbreak, needs support from the public sector banks (PSBs) to boost credit growth, an official said on Friday

Relief for Cyrus Mistry; SC agrees to hear plea on Pallonji Group’s representation on Tata Sons board

The plea seeks representation on Tata Group's board proportionate to 18.4 percent holding of Pallonji Group

Google mulling stake in Vodafone Idea positive, but inadequate to solve telcos' debt woes: Analysts

A potential investment by Google into cash-strapped Vodafone Idea (VIL), if materialises, will be a strategic positive for the Indian telecom operator, but a five percent stake would be still be inadequate to solve the telcos' debt problems, analysts said on Friday

SpiceJet's freighter arm, SpiceXpress gets DGCA approval for drone trials; to deliver essential supplies to remote areas

Budget carrier SpiceJet on Friday said its freighter arm SpiceXpress has received approval for conducting drone trials from aviation regulator Directorate General of Civil Aviation (DGCA)

Lupin Q4 results: Consolidated net profit rises 35% to Rs 390 cr; income from operations marginally down

Drug firm Lupin has reported a 34.55 percent rise in its consolidated net profit to Rs 389.63 crore for the quarter ended March 2020 mainly on account of robust sales in the domestic market and lower tax expenses

Urban commuters wary of using public transport when lockdown measures relaxed; private vehicles, solo ridership preferred, finds survey

In the times of social distancing, public transport would not be preferred for the next few months, said respondents in a survey

Vodafone Idea shares surge nearly 35% on reports Google looking to make investment in embattled telco

At 10:52 AM, Vodafone Idea was at Rs 7.56 per share, up 29.9 percent.

GDP growth likely be at 3.6% in Jan-Mar quarter, says Care Ratings; govt to release data today evening

The country's GDP growth is likely to be at 3.6 percent in January-March 2020 as economic activity came to a complete halt due to the countrywide lockdown imposed to contain the coronavirus outbreak, says a report

Wipro shares gain nearly 4% on Thierry Delaporte’s appointment as CEO, MD of company

Shares of Wipro on Friday jumped nearly 4 percent after the company announced the appointment of Capgemini Group veteran Thierry Delaporte as its Chief Executive Officer and Managing Director, effective 6 July, 2020

Rupee rises 11 paise to 75.65 in early trade ; foreign fund inflows, weak US dollar boosts investor confidence

The rupee appreciated 11 paise to 75.65 against the US dollar in opening trade on Friday as foreign fund inflows and weak American currency boosted investor confidence

Markets open weak: Sensex drops over 300 points, Nifty tests 9,400-level in early trade ahead of GDP data; Rupee up

Sensex tumbled over 300 points in early trade on Friday dragged by losses in HDFC Bank, Infosys, TCS and Reliance Industries amid weak cues from global markets.

Wipro names former Capgemini COO Thierry Delaporte as new CEO; Neemuchwala to leave on 1 June

Thierry Delaporte, who will replace Abidali Neemuchwala, was most recently the chief operating officer of Capgemini Group.

Stock markets end day's session in green: Sensex up over 500 points, Nifty nears 9,500; Zee, Eicher Motors top gainers

Sensex hit a high of 32,267.23 points during the day ahead of the expiry of May derivatives contracts. It finally ended 595.37 points or 1.88 percent higher at 32,200.59.

ADB approves $177 mn loan to upgrade 450 km of state highways, major district roads in Maharashtra

The Asian Development Bank (ADB) on Thursday signed a $177 million loan to upgrade 450 km of state highways and major district roads in Maharashtra

Coronavirus Lockdown: Commerce minister Piyush Goyal expects better exports performance in May, June

The performance of the country's exports is expected to be better in May and June as compared to the steep fall recorded in April, when the shipments contracted to an all-time high of 60.28 percent, Commerce and Industry Minister Piyush Goyal said on Thursday

US economy shrinks at 5% annual rate in Jan-Mar quarter; economists expect far worse GDP outcome in Q2

The US economy shrank at an even faster pace than initially estimated in the first three months of this year with economists continuing to expect a far worse outcome in the current April-June quarter

Despite rally, 2020 to be worst year for several world stock markets in nearly a decade; jobless situation poses high risk: Report

Subodh Kumar, an investment strategist at his own consultancy, notes, as do many, that stock markets are trading mainly on the unprecedented wave of stimulus from central banks and governments.

FII ownership in Nifty-500 hits five-year low during Q4; promoter holdings up post-COVID-19 outbreak: Motilal Oswal

Both FIIs and domestic institutional investors (DIIs) increased stake in telecom on a quarter-on-quarter basis by 190 and 220 basis points respectively.

Sun Pharma, SPARC ink pact for potential treatment for atopic dermatitis, auto-immune disorders

Sun Pharmaceutical Industries Ltd and Sun Pharma Advanced Research Company (SPARC) on Thursday said they have entered into a worldwide licensing pact for development and commercialisation of a novel molecule which can be used for the potential treatment of atopic dermatitis, psoriasis and other auto-immune disorders

Income Tax Department notifies minimum fees for managers of India-based offshore funds

The income tax department has notified the minimum fee to be received by India-based fund managers of an overseas fund

COVID-19 impact: Air passenger number collapses in Asia Pacific, decline in cargo markets deepens on weak demand

The rapid spread of COVID-19 resulting in border closures and travel restrictions across the world forced an almost complete shutdown of international airline operations.

TVS Motor Q4 results: Consolidated net profit dips 43% to Rs 82 cr; total income falls 17% to Rs 4,129 cr

TVS Motor Company on Thursday reported a 43.3 percent decline in its consolidated net profit to Rs 81.85 crore for the fourth quarter ended on 31 March, 2020

Coronavirus Outbreak Impact: Nissan to close Indonesia, Spain auto plants after sinking into red for first time in 11 years

Japanese automaker Nissan plans to close auto plants in Spain and Indonesia after sinking into the red for the first time in 11 years as the pandemic squashed global demand and disrupted production

Oil falls as surprise US stock build douses demand recovery hopes; Saudi Arabia, Russia agree on further output curbs

The decline in oil benchmarks extended losses on Wednesday over uncertainty about Russia’s commitment to deep output cuts ahead of a 9 June meeting of OPEC and its allies.

Forced lending to cripple banks; NPAs to soar by up to 600 bps in 2 years: Fitch Ratings

With incremental bank lending making up the bulk of the government's nearly Rs 21 lakh crore stimulus package, lenders face significant asset quality challenges which can increase their dud loan ratios by up to 6 percentage points over the next two years, warns a report