Page 2921 - Company News
Lightspeed, Accel lead $18.5 mn seed round in fintech start-up Uni
Founded by Nitin Gupta, former CEO of PayU India and Ola Financial Services, Uni aims to bridge the gap for credit cards and make them become more accessible for consumers across different regions.
 "Lightspeed, Accel lead $18.5 mn seed round in fintech start-up Uni")
IT services growth to return in 2021, Covid to fuel digital spends: Fitch
Most companies have reported robust deal wins that should support growth in 2021-2022, despite the revenue decline in the second quarter of 2020, said the report
 "IT services growth to return in 2021, Covid to fuel digital spends: Fitch")
Global online music streaming revenue declines 2% in Q2, shows report
Global online music streaming revenues in Q2 of this year declined two per cent QoQ driven by sequential slump in both paid and ad-based revenues, according to a Counterpoint Research report
 "Global online music streaming revenue declines 2% in Q2, shows report")
Tatas negotiate Air Asia's India exit price as airline gets $54 mn offer
Foreign fund making $54 mn offer is ready to prepay airline's expensive loans, but will only invest if Tatas, which hold RoFR, issue no-objection clearance
 "Tatas negotiate Air Asia's India exit price as airline gets $54 mn offer")
Behind the screen: What makes India an intriguing market for Netflix?
India's an integral part of the company's experiments that include taking the blockbuster mobile-only plan to other markets
 "Behind the screen: What makes India an intriguing market for Netflix?")
JSPL clocks highest-ever quarterly standalone sales of 1.93 mn tonnes in Q2
JSPL recorded 30% year-on-year growth in consolidated steel sales of 2.41 mn tonnes in the second quarter of current financial year as compared to 1.85 mn tonnes in Q2 FY20
 "JSPL clocks highest-ever quarterly standalone sales of 1.93 mn tonnes in Q2")
TCS Q2 preview: Ebit margin to see sharp expansion; buyback details eyed
According to analysts, the IT sector witnessed a good pick-up in demand for digital solutions resulting in improvement in the growth outlook for most of the companies.
 "TCS Q2 preview: Ebit margin to see sharp expansion; buyback details eyed")
TCS iON opens National Qualifier Test to corporates for job opportunities
The NQT will be conducted every quarter and the score will be valid for two years
 "TCS iON opens National Qualifier Test to corporates for job opportunities")
MagFast Beverages wins battle against PepsiCo to use trademark Mountain Dew
Hyderabad based MagFast Beverages has won the battle against beverages MNC, Pepsico to use the trademark, 'Mountain Dew'
 "MagFast Beverages wins battle against PepsiCo to use trademark Mountain Dew")
How faster deposit growth could become counterproductive for banks
Should deposit growth continue to outpace credit growth, banks may end up ceding some hard-earned 25-50 bps improvement in profitability or net interest margin gained in the past two years
 "How faster deposit growth could become counterproductive for banks")
SBI's next challenge: Keeping digital banking app YONO ahead of the curve
Bank enters uncharted territory as it looks to license app, which it values at $40 billion
 "SBI's next challenge: Keeping digital banking app YONO ahead of the curve")
BBB recommends Swaminathan Janakirman, A K Tewari for MD posts at SBI
A K Tiwari has been serving as the managing director and chief executive at SBI Card since August 1, 2020.
 "BBB recommends Swaminathan Janakirman, A K Tewari for MD posts at SBI")
Retrospective tax: Cairn example shows why FDI in oil & gas is in a mess
The retrospective tax controversy was highlighted by Vodafone, but Cairn Plc's continuing problems point to the impact this law has had on FDI in India's oil and gas sector
 "Retrospective tax: Cairn example shows why FDI in oil & gas is in a mess")
Karnataka High Court defers judgement on Franklin Templeton case
The asset manager said last week that its six shut schemes had received Rs 8,262 crore from maturities, pre-payments and coupon payments after closing down in April
 "Karnataka High Court defers judgement on Franklin Templeton case")
TCS buyback to boost cash utilisation, return on equity by 150-200 bps
Near term price trajectory depends on buyback premium, Q2 show
 "TCS buyback to boost cash utilisation, return on equity by 150-200 bps")
Sales of Biocon's itolizumab surge as phase-4 clinical trials begin
With phase 4 clinical trials now on, the sales may see a further uptick if data supports its use on Covid-19 patients, said experts.
 "Sales of Biocon's itolizumab surge as phase-4 clinical trials begin")
Aurobindo Pharma: Multiple growth triggers to improve Street sentiment
Rebound in injectable sales, multiple product launches, strong European outlook and reduction in net debt are key earning triggers
 "Aurobindo Pharma: Multiple growth triggers to improve Street sentiment")
India Inc's foreign borrowings drop 47% to $1.75 bn in August: RBI data
India Inc's foreign borrowings fell by over 47 per cent in August this year to $1.75 billion, data from the Reserve Bank showed on Monday
 "India Inc's foreign borrowings drop 47% to $1.75 bn in August: RBI data")
Steel costlier than Covid level after firms hike prices by Rs 2,000 a tonne
The increase was on the back of a pick-up in domestic demand in rural and non-infra spaces
 "Steel costlier than Covid level after firms hike prices by Rs 2,000 a tonne")
Hyundai's Chennai factory made more cars than China unit in 2019
This despite the installed capacity in Chennai being just about half that of Beijing
 "Hyundai's Chennai factory made more cars than China unit in 2019")