Corporate News - Page 6

Moderate participation expected in spectrum auctions; telecom industry's debt to elevate at Rs 4.6 lakh cr in FY21: ICRA

Rating agency ICRA expects moderate participation for the upcoming spectrum auctions at Rs 55,000-Rs 60,000 crore due to the limited financial flexibility of the industry

Govt may launch coal blocks auction process under commercial mining on 11 June; 50 mines likely to be put on sale

The government last week approved a methodology for commercial mining of coal on revenue sharing basis.

Markets end strong after subdued sessions: Sensex rallies over 990 points, Nifty surges to 9,315; Axis Bank top gainer, soars over 13%

Sensex rallied 996 points on Wednesday, led by massive gains in banking and IT stocks ahead of the expiry of monthly derivatives amid firm overseas cues.

Rupee settles 5 paise lower at 75.71 against dollar; forex traders concerned over rising US-China tensions

The rupee depreciated 5 paise to settle at 75.71 (provisional) against the US dollar on Wednesday, as market participants were concerned about rising tensions between the US and China amid coronavirus pandemic

Mercedes-Benz launches AMG C63 Coupe, AMG GT R Coupe in India; priced at Rs 1.33 cr and Rs 2.48 cr

German luxury car maker Mercedes-Benz on Wednesday expanded its performance vehicle portfolio in India with the launch of AMG C63 Coupe and AMG GT R Coupe, priced at Rs 1.33 crore and Rs 2.48 crore (ex-showroom India, except Kerala), respectively

Gold prices hit two-week low on optimism around reopening of economies; US-China tensions temper losses

Gold prices touched a two-week low on Wednesday due to optimism around the reopening of several economies, but increasing Sino-US frictions over Beijing’s proposed security law for Hong Kong tempered losses

Future Retail to raise up to Rs 650 cr to reduce debt by issuing non-convertible debentures

Debt-ridden Future Retail on Wednesday said its board has approved raising up to Rs 650 crore by issuing non-convertible debentures (NCDs) to pare debt

Nirmala Sitharaman's economic package: Measures announced by govt to positively impact start-up ecosystem, says IAN

The slew of booster measures by the government will "positively impact" start-ups in the country, especially in sectors like social infrastructure, atomic energy and space exploration, by providing these fledgling organisations with a larger playing field and improving ease of business, according to Indian Angel Network

COVID-19 Lockdown Impact: Fitch Ratings says Indian economy to contract 5% in FY21; forecasts global GDP to fall by 4.6% in 2020

Fitch Ratings on Tuesday forecast the Indian economy to contract 5 percent in the current fiscal on account of the slump in economic activities following a "very severe" lockdown that has lasted much longer than expected

Glenmark Pharmaceuticals receives approval from USFDA to market generic drug for muscle pain in American market

Glenmark Pharmaceuticals on Wednesday said its subsidiary has received approval from the US health regulator to market Chlorzoxazone tablets, used to treat muscle pain, in the American market

Maruti Suzuki partners with ICICI Bank, to offer retail financing schemes to customers

The country's largest carmaker Maruti Suzuki India (MSI) on Tuesday said it has joined hands with ICICI Bank to offer retail financing schemes to its customers

Coronavirus Lockdown: PepsiCo India partners with Dunzo to deliver food products at consumers' doorsteps

Food and beverages major PepsiCo India on Tuesday said it has tied up with on-demand delivery service platform Dunzo to deliver its products from four food brands at consumers' doorsteps

Coronavirus Lockdown: McDonald's resumes delivery service, 'drive-thru' services in select states in north, east India

Quick service restaurant operator McDonald's on Tuesday said it has resumed delivery service 'McDelivery' in select states in north and east India

COVID-19 pandemic: After Oppo and Vivo, Nokia suspends production as employees test positive post-easing of lockdown measures

NOkia said it had already implemented measures such as social distancing and changes to canteen facilities.

Renault, Nissan rebuild alliance to ride out coronavirus storm; thousands of jobs to be at risk after restructuring plans: Report

When Renault SA, Nissan Motor Co and Mitsubishi Motors Corp announced the last strategy plan for their Alliance in September 2017, the goal was to become the world’s biggest automaker by 2022.

Ola Electric acquires Amsterdam-based AppScooter maker Etergo, to launch electric two-wheeler next year

Ola Electric, without disclosing the deal value, said it aims to launch its electric two-wheeler in India in 2021, and the acquisition of Etergo will further bolster OEM's engineering and design capabilities.

Kotak Mahindra Bank launches Rs 7,000-cr share sale through qualified institutional placement

Private sector lender Kotak Mahindra Bank on Tuesday launched its over Rs 7,000-crore qualified institutional placement (QIP) of shares

Rupee slips 8 paise to 75.74 in early trade, forex traders concerned about rising US-China tensions

The rupee depreciated 8 paise to 75.74 against the US dollar in opening trade on Wednesday as market participants were concerned about rising tensions between Washington and Beijing in the wake of the coronavirus pandemic

Coronavirus Outbreak: Guidelines announced by aviation ministry for domestic flight services

In a set of detailed guidelines, the ministry advised vulnerable people like the elderly, pregnant women and passengers battling health issues to avoid air travel till the coronavirus pandemic abates

LTI bags 2020 SAP Pinnacle award as Industry Innovation Partner of the Year; deliveres ERP transformations for Fortune 500 clients

LTI has a long-term relationship with SAP, spanning over 20 years, and is uniquely positioned as a partner, co-innovator and customer.

Vodafone Idea partners with Paytm to launch recharge facility for all bank account holders; tie-up offers simple, safe solution

The move will help millions of subscribers who use feature phones to top up their numbers without having the need to visit physical retail touchpoints, Vodafone Idea said.

Wipro launches global channel partner programme for innovative products, platforms; move to provide new growth opportunities

Several Wipro products have helped clients meet their requirements for remote working, business continuity, security, and seamless supply chain and worker safety among others

Reliance Industries Rights Entitlement shares command 7% premium over intrinsic value on Day 4

The de-materialised trading of Reliance Industries Ltd - Rights Entitlement (RIL-RE) continued to draw strong demand on day four on Tuesday with an average premium of more than 7 percent over the intrinsic value

Torrent Pharma posts net profit of Rs 314 cr for March quarter; revenue up 5 to Rs 1,946 cr

Drug firm Torrent Pharmaceuticals on Tuesday reported a consolidated net profit of Rs 314 crore for the quarter ended March 31, mainly on account of cost control and productivity improvements

Coronavirus Lockdown: India faces worst recession in current fiscal; economy to shrink by 5%, says CRISIL

India's fourth recession since independence, the first since liberalisation and perhaps the worst to date, is here, CRISIL said on Tuesday as it predicted the economy to shrink by 5 percent in the current fiscal because of coronavirus lockdown

Coronavirus Lockdown: SC issues notice to Centre, RBI on plea against interest on loans during moratorium

The Supreme Court Tuesday asked the Centre and the RBI to respond to a plea challenging levy of interest on loans during the moratorium period, which has now been extended by another three months till August 31 due to the coronavirus pandemic

Coronavirus Lockdown: Karnataka farmers team up with Flipkart for home delivery of mangoes

E-commerce marketplace Flipkart and Karnataka State Mango Department and Marketing Corporation signed a memorandum of understanding (MoU) on Tuesday, enabling mango farmers sell their fresh produce online through the Flipkart platform

Coronavirus Lockdown: Trader's body writes to PM, suggests measures to tide over financial stress

A national body of traders has written to Prime Minister Narendra Modi, suggesting a host of measures to help the community tide over the crisis triggered by the coronavirus lockdown, including putting a cap on the value of e-commerce sales and giving access to Udyog Aadhaar cards

JSPL shares zoom nearly 14% after company reports consolidated net profit of Rs 306 cr in Q4

Shares of Jindal Steel and Power Ltd (JSPL) on Tuesday rallied nearly 14 percent after the company reported a consolidated net profit of Rs 305.62 crore during the quarter ended on 31 March, 2020

Bharti Telecom sells 2.75% stake in Airtel for Rs 8,433 cr in secondary market; more of debt relief exercise, feel analysts

Promoter firm Bharti Telecom has sold 2.75 percent stake in Airtel to institutional investors in the secondary market, raising over Rs 8,433 crore, the company said on Tuesday