Page 2970 - Company News
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")
US permission to self-conduct ground ops at airports an opportunity: AI
The national carrier clarified it was not affected by the July 2019 decision of the US Department of Transportation (USDOT) to suspend the right of Air India to self-handle at the US airports
 "US permission to self-conduct ground ops at airports an opportunity: AI")
Covid-19 impact: IndiGo may shelve approved QIP plan if air travel picks up
QIP is a capital-raising tool through which listed companies can sell shares, fully and partly convertible debentures, or any securities, other than warrants that are convertible into equity shares
 "Covid-19 impact: IndiGo may shelve approved QIP plan if air travel picks up")
BPCL Trust to sell up to 2% stake to employees through new mechanism
To decide on residual 7.33 per cent stake in due course
 "BPCL Trust to sell up to 2% stake to employees through new mechanism")
Manish Tiwary takes additional charge of seller business at Amazon India
Tiwary would take over Gopal Pillai's responsibilities, who is vice-president of seller services at Amazon India
 "Manish Tiwary takes additional charge of seller business at Amazon India")
WeWork India expects 25% growth in revenue for 2020 despite Covid-19
WeWork India, which is owned by Bengaluru-based realty firm Embassy Group, has 34 centres comprising 60,000 desks across six major cities
 "WeWork India expects 25% growth in revenue for 2020 despite Covid-19")
IndusInd Bank raises Rs 3,288 cr via preferential issuance of shares
Route One Fund I, LP has received 71,59,788 shares (Rs 375 crore) and Tata Investment Corporation Ltd has been allotted 57,25,190 equity shares (for Rs 300 crore) of the bank
 "IndusInd Bank raises Rs 3,288 cr via preferential issuance of shares")
Annapoorna Masalas eyes 5X top-line growth to Rs 200 cr in three years
Firm plans to expand its current product portfolio of 53 products and 101 stock-keeping units (SKUs) to over 80 products and 130 SKUs
 "Annapoorna Masalas eyes 5X top-line growth to Rs 200 cr in three years")
GoAir to add over 100 new flights in domestic network from Sept 5
The airline also said it expects the capacity to reach 45% of the pre-Covid-19 level by September 21 and by October 15 to 60% of what it was operating prior to the emergence of the pandemic
 "GoAir to add over 100 new flights in domestic network from Sept 5")
Gadkari asks automakers to build flex-engines to promote alternative fuel
Alternative fuel like ethanol, methanol, bio diesel, electric and bio CNG besides LNG were the fuel for future and should be promoted, he said and added a roadmap was being readied for fuel policy
 "Gadkari asks automakers to build flex-engines to promote alternative fuel")
India's metal sector severely hit by Covid-19; to see slow recovery: Report
According to the report, a severe dent in domestic demand for metals is anticipated and it will take until at least 2022-2023 to return to pre-pandemic levels
 "India's metal sector severely hit by Covid-19; to see slow recovery: Report")
KfW IPEX-Bank offers loan of 10 mn euros to Srei Equipment Finance
The borrower, SEFL, was set up in 2008 to pool orders from individual Indian construction companies and make the newly ordered machines available to the respective users.
 "KfW IPEX-Bank offers loan of 10 mn euros to Srei Equipment Finance")
Auto industry not in position to make investments for new norms: SIAM
SIAM also noted that government support was required to pursue the targets set under the Automotive Mission Plan 2026 (AMP 2026)
 "Auto industry not in position to make investments for new norms: SIAM")
ITC accelerates digitisation to enhance operational effectiveness: Puri
Diversified business entity ITC has accelerated digital transformation under the company's future-ready strategy to enhance competitive advantage and operational effectiveness, Sanjiv Puri said
 "ITC accelerates digitisation to enhance operational effectiveness: Puri")
Bombay HC directs UTI AMC to include staff liabilities in IPO prospectus
The liabilities could amount to Rs 1,250 crore, with bulk arising out of pension dues to 1,200-odd former employees, as per estimates by staff associations
 "Bombay HC directs UTI AMC to include staff liabilities in IPO prospectus")
Coca-Cola restructures global ops; India upgraded to operating unit
The Gurgaon-headquartered unit will also see changes in its top leadership
 "Coca-Cola restructures global ops; India upgraded to operating unit")