Page 2950 - Company News

McLeod Russel pre-tax loss at Rs 94.9 cr in Q1 due to crop loss, lockdown

Total income for quarter down 28% at Rs 245.83 cr, net loss stood at Rs 90.52 cr as against a loss of Rs 11.64 cr a year ago

Hits trump misses in power firms' $4.4-billion acquisition spree

Acquisitions by Tata Power, Adani Power & JSW Energy were profitable in FY20

Look past the near-term pain in IRCTC for its monopoly in Railways

While FY21 likely to be washout for IRCTC, the firm appears to have all the ingredients in place to see strong earnings growth over next 2-3 years, say analysts

CCI rejects unfair biz practices complaint against Amazon Seller Services

The ruling came on a complaint filed by Lifestyle Equities C V and Lifestyle Licensing B V

Enrich Salon pauses expansion plan, sees 25% fall in revenue this year

Hair and beauty salon chain Enrich has put on hold its store expansion plan for the year due to the coronavirus pandemic, and expects to close the ongoing fiscal with around 22-25% fall in revenue

HDFC AMC: Regulatory changes another headache apart from slowing business

HDFC AMC is looking at effective diversification in investment styles in the equity segment

Hexware delisting hangs in balance with 25 mn more shares needed

About 58 mn shares tendered so far, and just a day left to achieve mandatory 90% acquisition target

Indiabulls Housing raises Rs 1,205 cr via QIP, stake sale in OakNorth

The non-banking finance company (NBFC) has raised Rs 682.87 crore through the QIP and Rs 522 crore from the partial stake sale

Trai rules out intervention for OTT services; COAI says issues unaddressed

Trai further said that no regulatory interventions are needed for privacy and security related issues of OTT services for now

Glenmark: Domestic sales performance, lower costs bode well for the stock

Funding for its innovation subsidiary is a key trigger

Tiger Global, others invest $225 mn in parent of IPL title sponsor Dream 11

Avendus Capital was the financial advisor in Series-E round that also saw participation from TPG Tech Adjacencies, ChrysCapital and Footpath Ventures

Ashok Leyland expands LCV offering in bid be among top-10 global CV players

The CV major has said that LCV will be one of the three major levers to drive company's future growth

Despite Covid-19, Tata Steel to pay Rs 235-cr bonus to employees for FY20

The memorandum was signed by Tata Steel CEO and Managing Director T V Narendran and TWU President R Ravi Prasad

TCS becomes second Indian firm to cross Rs 9 trillion market valuation mark

Tata Consultancy Services (TCS) on Monday became the second Indian company to attain a market valuation of Rs 9 trillion after Reliance Industries Limited

Former Wipro CEO Abidali Neemuchwala turns investor, joins Dallas Venture

The firm said it plans to focus on early-stage and growth-stage companies dealing with areas such as cloud infra, AI, machine learning and mobile

Apollo Hospitals reports Q1 pre-tax loss of Rs 267 cr, revenue down 16%

The chain's health care services and clinics were under pressure during the quarter, while pharmacy biz showed positive growth in revenue and profitability

Vedanta Resources leads India surge in dollar loans for local buyouts

Vedanta raised a $1.75 billion facility in August to finance a plan to take its Indian unit private, and is in talks with banks for a further $600 million

Carlyle, SoftBank put on waiting list for Reliance Retail stake: Report

Reliance Industries plans to sell about a 10% stake in Reliance Retail to financial investors and almost all the $5.7 billion worth of shares have been taken up

Govt weighs dropping debt condition in plan to sell Air India: Report

Despite the losses, the airline has some lucrative assets which include prized slots at London's choked Heathrow airport, a fleet of more than 100 planes and thousands of trained pilots and crew

Kia's second coming with its new compact utility vehicle Sonet

With the Sonet, the Hyundai subsidiary is hoping to replicate the successful debut it had with the Seltos