Page 2964 - Company News
SMC president tells auto component suppliers to localise aggressively, step up R&D
The advice comes amid the Centre's clarion call to manufacturers across sectors to cut imports and become self-reliant
 "SMC president tells auto component suppliers to localise aggressively, step up R&D")
Challenges galore for Sanket Ray, Coca-Cola's new head for India & SW Asia
With the Covid-19 pandemic shattering the country's economy, resulting in mass layoffs and salary cuts, the cola major is now facing faltering sales and an overall slowdown in consumption
 "Challenges galore for Sanket Ray, Coca-Cola's new head for India & SW Asia")
BPCL to offer its employees stock options at a third of market price
State-owned Bharat Petroleum Corp Ltd (BPCL) has offered its employees stock options at one-third of the market price as the company looks to reward staff ahead of its privatisation
 "BPCL to offer its employees stock options at a third of market price")
Vodafone Idea board agrees to raise Rs 25,000 cr through share sale, debt
The fund raising will help the company to get its finances back on track as it takes several steps to cut operational costs
 "Vodafone Idea board agrees to raise Rs 25,000 cr through share sale, debt")
BSNL to retrench another 20,000 contract workers: Employees' union
The union also claimed that 30,000 contractual workers have already been retrenched under the company's retrenchment process and added that all such workers remained unpaid for more than a year
 "BSNL to retrench another 20,000 contract workers: Employees' union")
MTR Foods owner Orkla to pay Rs 2,000 cr for control of Eastern Condiments
Norwegian conglomerate Orkla, which owns MTR Foods, to buy 67.8 per cent stake in Kerala's Eastern Condiments
 "MTR Foods owner Orkla to pay Rs 2,000 cr for control of Eastern Condiments")
Paytm reports Rs 3,629 cr revenue for FY20; eyes profitability by 2022
The Noida-based firm also claimed it has narrowed losses 40 per cent year-on-year on account of optimisation of expenses which will help it become profitable by 2022
 "Paytm reports Rs 3,629 cr revenue for FY20; eyes profitability by 2022")
Jio cuts to grow, but the jury is out on its rock-bottom pricing
But the jury is out on its rock-bottom pricing for the broadband venture
 "Jio cuts to grow, but the jury is out on its rock-bottom pricing")
PUBG ban to upset Tencent's 'chicken dinner' in India
With over 175 million estimated downloads, India accounts for around 25 per cent of PUBG's global subscriber base
 "PUBG ban to upset Tencent's 'chicken dinner' in India")
Six out of top 10 infrastructure companies struggling to stay afloat
These companies have lost 70 per cent of their market capitalisation in the past six years and four of them are down 90 per cent or more during the period
 "Six out of top 10 infrastructure companies struggling to stay afloat")
OYO India offers voluntary separation or leave extension to employees
Post-unlock, the company started tracking to 30 per cent of pre-Covid-19 occupancy levels, OYO India said in a statement
 "OYO India offers voluntary separation or leave extension to employees")
Aviation outlook stays cloudy despite easing of capacity restrictions
IndiGo's market share crosses 60 per cent; traffic for the sector still a fifth of pre-Covid levels
 "Aviation outlook stays cloudy despite easing of capacity restrictions")
New PSL norms may not be an immediate game changer for banking sector
Given the systemic risk aversion, credit growth may take a few quarters to revive on the back of these norms
 "New PSL norms may not be an immediate game changer for banking sector")
Bengaluru bucks trend despite Covid-19, sees direct tax mop-up growth
With technology companies largely unaffected by the Covid-19 lockdown, Bengaluru has posted a 7 per cent increase in direct tax mop-up
 "Bengaluru bucks trend despite Covid-19, sees direct tax mop-up growth")
TCS iON offers free course for teachers to enhance digital teaching skills
TCS iON, a unit of IT services major Tata Consultancy Services, on Friday said it has launched a free 15-day self-paced digital course to help educators enhance their digital teaching skills.
 "TCS iON offers free course for teachers to enhance digital teaching skills")
NLC India reports 21% rise in consolidated profit to Rs 343.5 cr in Q1
NLC India Ltd on Friday reported a 21 per cent rise in consolidated profit to Rs 343.48 crore for the quarter ended June 30.
 "NLC India reports 21% rise in consolidated profit to Rs 343.5 cr in Q1")
Power tribunal allows passing pollution control costs on to tariffs
Moves comes as a breather for Vedanta and L&T for their plants in Punjab
 "Power tribunal allows passing pollution control costs on to tariffs")
H&M India head Janne Einola resigns after spending 23 years with company
During his tenure in India, Einola built H&M's business from the ground up
 "H&M India head Janne Einola resigns after spending 23 years with company")
Localised lockdown impacting ITC's recovery pace, outlook uncertain: Puri
ITC would respond with agility to strengthen its market standing while sharply focusing on cost reduction measures, Puri reassured shareholders
 "Localised lockdown impacting ITC's recovery pace, outlook uncertain: Puri")
Insurers can offer wellness coupons, reward points to policyholders: Irdai
Regulator Irdai on Friday came out with fresh guidelines for wellness and preventive features under which insurers can offer discount coupons and vouchers for health supplements and yoga centres
 "Insurers can offer wellness coupons, reward points to policyholders: Irdai")