Corporate News - Page 9

Coronavirus Outbreak: RBI cuts repo rate by 40 bps to 4%; full text of resolution of monetary policy statement

To mitigate the economic impact of COVID-19 outbreak, in a surprise move, the Reserve Bank of India (RBI) on Friday again reduced the key lending rates by 40 basis points

Coronavirus Outbreak: Paytm records 4 times growth in payments made to merchants during lockdown

Digital payments firm Paytm has recorded around four-fold jump in payments received by merchants in its new ledger service amid the coronavirus pandemic, a senior company official said on Thursday

COVID-19 impact: GMR's Delhi, Hyderabad airports to provide contact-less food service to air passengers

GMR said that as social distancing has become the new norm due to the pandemic, the company took many initiatives to enhance passenger safety and comply with COVID-19 safety measures.

No restrictions on utilisation of additional borrowing by states, says official; to get extra resources of Rs 4.28 lakh cr

Finance Minister Nirmala Sitharaman had said that an increase in borrowing limits will be subject to states taking citizen centric reforms, which are aimed at improving quality of service delivery to the public.

JK Lakshmi Cement shares trim most of sharp early gains, close over 3% higher on Q4 earnings

JK Lakshmi on Wednesday reported more than twofold jump in consolidated net profit to Rs 98.63 crore for the fourth quarter ended on March 2020, helped by cost reductions.

Rupee gains 19 paise to close at 75.61 on hopes of forex inflow as economic activities resume

The rupee rose by 19 paise to close at 75.61 against the US currency on Thursday on dollar selling by banks following gains in equities and weakness in the greenback

Coronavirus Outbreak: PHD Chamber Commerce and Industry contributes Rs 528 cr towards PM-CARES Fund

The PHD Chamber of Commerce and Industry (PHDCCI) on Thursday said it has contributed Rs 528 crore towards the PM-CARES Fund to support fight against the coronavirus pandemic

Colgate-Palmolive India Q4 net profit rises 3.3% to Rs 204 cr on tax reversals; COVID-19 outbreak hits sales volume

Colgate-Palmolive said its board in a meeting held on Thursday has declared a second interim dividend of Rs 16 perequity share for the financial year 2019-20.

Coronavirus Outbreak: Log 9 Materials ties up with Indian Institute of Science for its ‘CoronaOven’ project

Nanotechnology start-up Log 9 Materials — which has come up with a time-critical, novel technological solution (in the form of a small disinfection chamber that uses UV- C rays to kill Coronaviruses) to deal with the rising threat of the transmission of Covid-19 through object surfaces, is associating with the Indian Institute of Science - Bangalore for the ‘CoronaOven’ project

Bajaj Finserv Q4 profit tumbles 77% to Rs 194 cr as COVID-19 provisions rise; interest revenue up 58% at Rs 7,919 cr

Bajaj Finserv's total insurance business in the March quarter declined significantly by 22 percent to Rs 6,066 crore.

Reliance Industries Rights Entitlement shares jump 16%; extends uptrend on second consecutive day

De-materialised trading of Reliance Industries Ltd - Rights Entitlement (RIL-RE) continued to draw strong demand on day-two on the stock exchanges on Thursday, rising by nearly 28 percent in intra-day trading before closing with a gain of 15.6 percent

ICICI Bank offers interest rate of 6.55% to senior citizens, 80 bps more than general public

Private lender ICICI Bank on Thursday announced a fixed deposit product with an enhanced interest rate offering of 0.80 percentage point for senior citizens

Govt extends social security scheme for senior citizens till March 2023; rate of return reduces to 7.4% for FY21

The government on Wednesday fixed the annual rate of return for Pradhan Mantri Vaya Vandana Yojana (PMVVY), a social security scheme for senior citizens, at 7.4 percent for 2020-21, down from 8 percent in the previous fiscal, as it extended the scheme by three years

Airline stocks gain after govt announces resumption of domestic flight services 25 May; IndiGo surges over 7%

Aviation stocks gained after the government announced that domestic airline operations will resume on 25 May.

Govt releases Rs 92,077 cr towards devolution of central taxes to states for April, May, says Nirmala Sitharaman

The government on Thursday said it has released Rs 92,077 crore towards the devolution of central taxes to states for April and May

Govt notifies changes in rules disallowing global tender for procurement up to Rs 200 cr; move to benefit MSMEs

The government has notified amendments to General Financial Rules (GFR) to ensure that goods and services valued less than Rs 200 crore are being procured from domestic firms, a move which will benefit MSMEs

Nirmala Sitharaman to meet PSB chiefs tomorrow to discuss loan disbursement; to review interest rate transmission to borrowers

The deployment of excessive funds by banks under the reverse repo route may also come up for discussion on Friday, sources said.

Coronavirus Lockdown: Govt cap fares of Mumbai-Delhi route at Rs 3,000-10,000; comes out with guidelines for domestic air travel

About a third of operations will be allowed under strict norms when domestic flight services restart on Monday after a two-month hiatus and all the airlines will have to adhere to the upper and lower limits of fares prescribed by the government, the Civil Aviation Ministry said on Thursday

Hindustan Zinc net profit drops 33% to Rs 1,339 cr in March quarter; ramps up operation back to normal level

Hindustan Zinc's total income declined to Rs 4,861 crore in the January-March quarter, compared with Rs 6,030 crore in the year-ago period.

Amazon enters Indian food delivery market, to compete against Zomato, Swiggy; starts operations in select parts of Bengaluru

Amazon India on Thursday said it is launching its food delivery operations in select parts of Bengaluru, a move that will see the e-commerce giant compete against major players like Zomato and Swiggy in the country

Coronavirus Lockdown: Swiggy, Zomato start home delivery of alcohol in Ranchi; to add other cities over next couple of days

Swiggy, on-demand delivery platform, has enabled online processing and home delivery of alcohol through the ‘Wine Shops’ category on the Swiggy app

Coronavirus Outbreak: Kerala records highest number of cyberattacks during lockdown, says report

The COVID-19-induced lockdown saw a spurt in crybercrimes in India with Kerala recording the highest number of cyberattacks during the period, according to an analysis of IT security solutions provider K7 Computing

Markets close with gains: Sensex rises 114 points, Nifty above 9,100-mark; ITC top gainer, rallies over 7%

Nifty Auto and FMCG ended with over 2.3 percent gains which have offset the sell-off of the banking stocks.

Coronavirus Lockdown: Honda Motorcycle and Scooter India to resume manufacturing operations from next week in phased manner

Honda Motorcycle and Scooter India (HMSI) on Thursday said it will resume manufacturing operations across its four plants in the country in two phases, with Karnataka-based facility kickstarting the process from next week

COVID-19 Lockdown Impact: Nissan India introduces online vehicle booking process

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