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UltraTech Cement Q4 net profit at Rs 3,239 cr on gains from reversal of income tax; net sales down 13% to Rs 10,745 cr
Business

UltraTech Cement Q4 net profit at Rs 3,239 cr on gains from reversal of income tax; net sales down 13% to Rs 10,745 cr

Aditya Birla Group firm UltraTech Cement on Wednesday reported a consolidated net profit of Rs 3,239.39 crore for March quarter 2019-20, helped by gains from the reversal of the Income Tax

Coronavirus Outbreak: Fifteenth Finance Commission to meet its high level group on health sector on Thursday
Business

Coronavirus Outbreak: Fifteenth Finance Commission to meet its high level group on health sector on Thursday

The 15th Finance Commission will hold a virtual meeting with its high-level group on the health sector on Thursday to discuss the requirement of increased resources and manpower in the context of COVID-19 pandemic

SEBI asks listed companies to make disclosure about impact of coronavirus pandemic on business
Business

SEBI asks listed companies to make disclosure about impact of coronavirus pandemic on business

Markets regulator SEBI on Wednesday asked listed companies to make a disclosure about the impact of coronavirus pandemic on their business to investors and stakeholders in a timely and cogent manner

Coronavirus Outbreak: TCS well-positioned to weather this storm, take advantage of opportunities in downturn, says chairman N Chandrasekaran
Business

Coronavirus Outbreak: TCS well-positioned to weather this storm, take advantage of opportunities in downturn, says chairman N Chandrasekaran

The next few months will be difficult for enterprises globally but Tata Consultancy Services (TCS) is well-positioned to weather the storms and take advantage of opportunities that come up during the downturn, TCS Chairman N Chandrasekaran has said

Economic package: Successful implementation of support measures for NBFI will be key, says Fitch Ratings
Business

Economic package: Successful implementation of support measures for NBFI will be key, says Fitch Ratings

Fitch Ratings on Wednesday said support measures announced by the government for non-banking finance companies seek to ease borrower strain and boost funding conditions for NBFIs, but successful implementation will be the key

Coronavirus Lockdown: CAIT urges govt to reconsider economic package, says traders let down by exclusion
Business

Coronavirus Lockdown: CAIT urges govt to reconsider economic package, says traders let down by exclusion

Industry body CAIT has urged the government to reconsider the economic package and announce measures to support traders, saying the community feels let down for exclusion from the Rs 20 lakh crore stimulus to aid the economy reeling from the COVID-19 crisis

Coronavirus Lockdown: Mahindra & Mahindra offers new finance schemes, special benefits for doctors, cops, women
Business

Coronavirus Lockdown: Mahindra & Mahindra offers new finance schemes, special benefits for doctors, cops, women

Auto major Mahindra & Mahindra on Tuesday rolled out a range of new finance schemes, including special offers for the Corona Warriors and women buyers, such as 8-year loan term, 90-days moratorium on payment and 100 percent on-road financing, to help customers purchase its vehicle with ease amid the lockdown

Coronavirus Lockdown: FinMin extends deadline to fulfill contractual obligations of all govt projects by up to 6 months
Business

Coronavirus Lockdown: FinMin extends deadline to fulfill contractual obligations of all govt projects by up to 6 months

The Finance Ministry has extended the deadline for fulfillment of contractual obligations of all government projects, including public-private partnerships (PPP), which were due for completion on or after 20 February, by up to six months in view of COVID-19 crisis

OYO takes measures to mitigate COVID-19 impact, offer quality hospitality experience
Business

OYO takes measures to mitigate COVID-19 impact, offer quality hospitality experience

Hospitality firm OYO on Tuesday said it is taking several measures to minimise the impact of COVID-19, and innovating to meet new standards of good quality hospitality experience at its hotels

Govt to further revise criteria for classifying 'medium' enterprises under MSME definition: Nitin Gadkari
Business

Govt to further revise criteria for classifying 'medium' enterprises under MSME definition: Nitin Gadkari

Days after changing the definition of MSMEs, the government has decided to further revise the criteria for medium units by enhancing the investment and turnover limits to up to Rs 50 crore and Rs 200 crore respectively, Union Minister Nitin Gadkari said on Tuesday

Coronavirus impact: Barclays pegs India's current account surplus at $20 bn this fiscal, first-time in 14 years
Business

Coronavirus impact: Barclays pegs India's current account surplus at $20 bn this fiscal, first-time in 14 years

As imports continue to plunge due to the coronavirus-driven disruptions globally, India may end the current fiscal with a record surplus of about $20 billion or 70 bps of the GDP, says a report

Coronavirus Lockdown: Fiat India Automobiles, Tata Motors JV plant resumes operations at Ranjangaon
Business

Coronavirus Lockdown: Fiat India Automobiles, Tata Motors JV plant resumes operations at Ranjangaon

Fiat India Automobiles Pvt Ltd (FIAPL) on Tuesday said Ranjangaon-based manufacturing facility, co-owned by it and Tata Motors, has resumed operations

Coronavirus Lockdown: Rs 6.45 lakh cr worth loans sanctioned by PSBs during 1 March-15 May, says Nirmala Sitharaman
Business

Coronavirus Lockdown: Rs 6.45 lakh cr worth loans sanctioned by PSBs during 1 March-15 May, says Nirmala Sitharaman

State-owned banks have sanctioned about Rs 6.45 lakh crore worth loans to various sectors including MSME, agriculture and retail between 1 March and 15 May when businesses were reeling under the impact of COVID-19 crisis

Coronavirus Outbreak: Stimulus package for financial sector to ease asset risks, but won't fully offset pandemic blow, says Moody's
Business

Coronavirus Outbreak: Stimulus package for financial sector to ease asset risks, but won't fully offset pandemic blow, says Moody's

Moody's Investors Service on Tuesday said the measures announced by the government for financial institutions as part of Rs 20 lakh crore-economic package will help ease their asset risk, but will not fully offset the negative impact from the COVID-19 outbreak

Coronavirus Lockdown: Indian economy to contract 5% in FY21, worst-ever performance by country, says Goldman Sachs
Business

Coronavirus Lockdown: Indian economy to contract 5% in FY21, worst-ever performance by country, says Goldman Sachs

American brokerage Goldman Sachs expects the Indian economy to contract by 5 percent in FY21, making it the worst performance by the country ever

Coronavirus Outbreak: Snapdeal receives 65% orders from red zone cities on Day one of Lockdown 4.0
Business

Coronavirus Outbreak: Snapdeal receives 65% orders from red zone cities on Day one of Lockdown 4.0

E-commerce major, Snapdeal on Monday said that on Day 1 of the expanded operations, the orders at Snapdeal platform grew rapidly and had crossed 2.4 times the average of the previous 15 days by 3 pm on 18th May

Stimulus package impact: Fiscal deficit of Centre, states likely to be at 12% of GDP, says DBS Bank
Business

Stimulus package impact: Fiscal deficit of Centre, states likely to be at 12% of GDP, says DBS Bank

The combined fiscal deficit of the Centre and states will top 12 percent of the GDP because of the recent economy-boosting measures, and higher borrowings by States to meet COVID-19 exigencies, says a report

Coronavirus Lockdown: After Zomato, Swiggy sacks 1,100 employees as pandemic continues to hurt business
Business

Coronavirus Lockdown: After Zomato, Swiggy sacks 1,100 employees as pandemic continues to hurt business

Joining arch rival Zomato, food delivery platform Swiggy on Monday announced to lay off 1,100 employees, nearly 14 per cent of its workforce, spanning across grades and functions in the cities and head office over the next few days as Covid-19 continues to hurt its business across verticals, IANS reported

Coronavirus Lockdown: Suzuki Motorcycle resumes production at Gurugram plant
Business

Coronavirus Lockdown: Suzuki Motorcycle resumes production at Gurugram plant

Suzuki Motorcycle India Pvt Ltd (SMIPL) on Monday said it has resumed production at its manufacturing facility at Kherki Dhaula, Gurugram

Coronavirus Lockdown: RBI may extend moratorium on repayment of loans for three more months, says report
Business

Coronavirus Lockdown: RBI may extend moratorium on repayment of loans for three more months, says report

With the government extending the nationwide lockdown up to 31 May, the Reserve Bank of India (RBI) is likely to extend the moratorium on repayment of loans for three more months, according to an SBI research report