Corporate News - Page 8

Oil jumps as coronavirus lockdowns ease, boosting hopes for demand pickup; rising Sino-US tensions likely to cap gains

Amid quiet trading, with financial centres Singapore, London and New York all closed for holidays, Brent was up 6 cents, or 0.2 percent, at $35.19 a barrel.

Deepak Fertilisers forays into hand sanitiser segment; evaluates other IPA-based product opportunities

Deepak Fertilisers is leveraging its existing strong distribution network along with pharmacy and hypermarket chains, modern trade and e-commerce channels to make the product easily available on pan-India basis.

COVID-19 impact: NITI Aayog suggests short-duration R&D projects for quick results; says self-reliance should be rural development model

NITI Aayog Vice Chairman Rajiv Kumar suggested a seven-point development model for India laying stress on the need to make development a public movement on the lines of the freedom movement.

Ratan Tata-backed startup Repos Energy to manufacture, sell around 3,200 mobile petrol pumps in FY21

Repos Energy which specialises in supplying diesel at the doorstep for commercial users has seen daily demand go up to 15,000 litres from the earlier average of 10,000 litres, a senior official said, at the end of March.

Japan to end Tokyo's state of emergency, eyes fresh $930 bn stimulus; eyes to expand economic activities in stages

To support an economy on track for its deepest slump in postwar history, the government is considering fresh stimulus worth 100 trillion yen ($930 billion), mostly comprising financial aid for companies, the Nikkei newspaper said.

Suzuki Motor resumes manufacturing operations at Gujarat plant; says will adhere to govt regulations, norms

Suzuki Motor had suspended production at the Hansalpur (Gujarat) plant on 23 March to check the spread of COVID-19.

Reliance Industries launches JioMart service across cities, offers discounts: Here's how to buy groceries, place an order

Customers can now log on to the newly-launched website jiomart.com to place an order

RBI cuts repo rate by 40 bps: It is unexpected like rain in summer; regulatory, monetary measures to boost economy, say experts

The Reserve Bank of India (RBI) on Friday slashed the benchmark lending rate by 40 basis points to mitigate the impact of COVID-19 crisis.

About 20% SBI borrowers avail loan repayment moratorium; banks can go for debt recast: Chairman Rajnish Kumar

The SBI chairman advised borrowers to pay their loans if they are not facing any funding challenge.

RBI slashes repo rate: Big relief to small businesses but more support needed; move to revive demand, say industry bodies

The benchmark repurchase (repo) rate was cut by 40 basis points to 4 percent, the lowest since the benchmark came into being in 2000, RBI Governor Shaktikanta Das said.

Rupee falls 34 paise to close at 75.95 against dollar; RBI rate cut booster dose fails to cheer investors

The Indian rupee slipped 34 paise to close at 75.95 against the US dollar on Friday as Reserve Bank''s fresh measures to alleviate economic distress failed to strike a chord with investors

UPL Q4 results: Consolidated net profit more than doubles to Rs 617 cr; total income jumps 30%

Agro chemical firm UPL Ltd on Friday reported more than two-fold jump in its consolidated net profit at Rs 617 crore for the quarter ended March

Reliance Industries selling 17% stake in Jio Platforms in one month to help pare half its net debt: Moody's

Reliance Industries selling over 17 percent stake in its digital unit Jio Platforms for a combined Rs 78,562 crore in one month will help pare about half of its net debt of Rs 1.61 lakh crore, Moody's Investors Service said on Friday

Govt stimulus package does not address immediate concerns of healthcare system: Fitch Solutions

Fitch Solutions has said that the latest stimulus package does not address immediate concerns of the healthcare system which is reeling under the pressure of COVID-19 pandemic

Sensex drops 260 points, Nifty settles below 9,050-mark at close of trading session; banking, financial stocks drag

Sensex tumbled 260 points on Friday, dragged by losses in banking and financial stocks as RBI's rate cut and other measures to prop up the economy failed to meet market expectations.

RBI monetary policy: GDP growth in 2020-21 likely to be in negative territory, says Shaktikanta Das

The Reserve Bank on India (RBI) on Friday said India''s gross domestic product (GDP) growth will be in negative territory in 2020-21 as the outbreak of coronavirus has disrupted economic activities

Around 8.21 lakh subscribers join ESIC scheme in March as against 11.83 lakh in February: Payroll data

Around 8.21 lakh new members joined the ESIC-run social security scheme in March 2020, against 11.83 lakh in the previous month, according to payroll data of the Employees' State Insurance Corporation (ESIC)

Trade unions stage protests against suspension, tweaking of labour laws by some states during lockdown

Ten central trade unions on Friday held protests across the country to oppose suspension and tweaking of labour laws by states

Income Tax Department issues refunds of Rs 26,242 cr since April to 16.84 lakh taxpayers; move to ease liquidity

The tax department on Friday said it has issued I-T refunds of Rs 26,242 crore to 16.84 lakh taxpayers since April as part of efforts to hasten refund process for making liquidity available with people and firms to deal with COVID-19 crisis

Indian economy to contract in FY21; lockdown compounds economic challenges, says Moody's

Moody's Investors Service on Friday said India's economy is expected to contract for the first time in more than four decades saying economic damage owing to the coronavirus-induced lockdown will be significant with lower consumption and sluggish business activity

Bosch Q4 net profit down 80% at Rs 81 cr; says results in line with downward trend in automotive industry

During the quarter, Bosch made an incremental provision of Rs 297 crore as part of an overall provision of Rs 717 crore towards various restructuring, reskilling and redeployment initiatives for 2019-20.

Real estate players want banks to pass on benefit of rate cut to customers; demand one-time debt restructuring

Real Estate sector can act as a catalyst in resurrecting the economy, backed by stringent fiscal and non-fiscal measures," CREDAI President Satish Magar said in a statement.

JSW Steel Q4 results: Consolidated profit shrinks 87% to Rs 188 cr; total income drops 20% to Rs 18,009 cr

Sajjan Jindal-led JSW Steel on Friday reported a sharp 87.42 percent decline in consolidated net profit to Rs 188 crore for the quarter ended on 31 March, 2020, mainly on account of lower-income

Uber resumes operations in Coimbatore; says to ensure earning opportunities for driver-partner community

The Uber Intercity operations would be limited to travel with necessary authorisation within the state and in permissible zones only, Uber India said in a statement.

Godrej Industries Q4 results: Consolidated net profit at Rs 102 cr, net sales at Rs 3,121 cr

Godrej Industries on Friday reported a consolidated net profit of Rs 102.08 crore for March quarter of 2019-20 financial year

KKR-Reliance Jio Platforms deal: All you need to know about the US-based private equity firm

Reliance Industries Limited (RIL) and Jio Platforms Limited, India's leading digital services platform, announced on Friday that US private equity fund, KKR will invest Rs 11,367 crore into Jio Platforms

KKR will invest Rs 11,367 cr into Reliance Jio Platforms: Key takeaways from the deal with global PE firm

KKR will invest Rs 11,367 crore into Jio Platforms: Key takeaways from the deal with global PE firm

Will look for more digital, tech-driven investments in India, says Sanjay Nayar of KKR

KKR will be investing Rs 11,367 crore in Jio Platforms for a 2.32 percent stake. This is KKR's largest investment in Asia.

RBI monetary policy: Central bank extends moratorium on loans for another 3 months till August

Reserve Bank Governor Shaktikanta Das on Friday extended the moratorium on payment of loans by another three months till August to provide much-needed relief to borrowers whose income has been hit due to the coronavirus crisis

Coronavirus Outbreak: RBI cuts repo rate by 40 bps to 4%; full text of Shaktikanta Das' statement

The Reserve Bank of India Governor Shaktikanta Das on Friday said the central bank reduced the repo rate by 40 bps to 4 percent to ease the financial stress caused by the Covid-19 pandemic