Page 3085 - Company News
FMCG: After decade-low volume performance in Q4, worst yet to come
Q4 was weaker than demonetisation and GST periods, and June quarter is expected to see further pain despite hopes from better rural demand
 "FMCG: After decade-low volume performance in Q4, worst yet to come")
After 'Digital Atmanirbhar' pitch, Indian apps rise up to the challenge
On July 4, four of the top six most downloadable apps were 'made in India' alternatives to TikTok
 "After 'Digital Atmanirbhar' pitch, Indian apps rise up to the challenge")
Edelweiss books Rs 2,819 cr pre-tax loss in Q4 on spike in provisions
Plans to bring PE as investor in wealth & asset mgt business; raise up to $200 mn in equity
 "Edelweiss books Rs 2,819 cr pre-tax loss in Q4 on spike in provisions")
Digital MNCs likely to miss July 7 deadline for paying Google tax
The development indicates that government has not heeded to calls for deferment of the tax by the industry
 "Digital MNCs likely to miss July 7 deadline for paying Google tax")
Covid-19, legal tangles throw spanner in JSW bid to regain pole position
Steel company remains third in capacity pecking order due to Dolvi expansion delay, stalled Bhushan Power acquisition.
 "Covid-19, legal tangles throw spanner in JSW bid to regain pole position")
Covid-19 impact: Mass lay-offs, cost-cutting among start-ups, says survey
Start-ups are now resorting to mass lay-offs and cost-cutting, as only a small number of them is funded to sustain till end-2020
 "Covid-19 impact: Mass lay-offs, cost-cutting among start-ups, says survey")
Pre-owned car sellers expect a spike in demand in times of Covid-19
A study by second-hand car dealer Cars24 showed 22.5 per cent of the consumers, who were planning on buying a new car last year, would prefer used cars now due to limited budget
 "Pre-owned car sellers expect a spike in demand in times of Covid-19")
Insurers discuss growing need for policy to claim Covid-19 losses
The discussions are at an initial stage and no timeline has been fixed on when such a product will come out
 "Insurers discuss growing need for policy to claim Covid-19 losses")
GVK faces an uphill task to repay bank loans of several group companies
A downgrade by rating firm, ICRA, in June had made lenders nervous after ICRA said TAJGVK's coverage metrics were also likely to weaken substantially in FY21
 "GVK faces an uphill task to repay bank loans of several group companies")
YES Bank to auction Avantha, RHC Holdings' assets to recover Rs 1,000 cr
The loan amount is due since October 31, 2019, along with further interest and cost due to the secured creditor from the borrower and mortgager
 "YES Bank to auction Avantha, RHC Holdings' assets to recover Rs 1,000 cr")
Mercedes-Benz to recall more than 660,000 vehicles in China for oil leak
Most of the vehicles were made in China by Beijing Benz Automotive Co, about 12,500 were built by Fujian Benz Automotive Co. and about 36,000 were imported
 "Mercedes-Benz to recall more than 660,000 vehicles in China for oil leak")
15th FC chairman N K Singh, NITI Aayog CEO Amitabh Kant endorse JioMeet
JioMeet has seen a huge surge in its ranking on Google Play, based on its downloads
 "15th FC chairman N K Singh, NITI Aayog CEO Amitabh Kant endorse JioMeet")
DHFL defaults on NCD repayments of Rs 50 cr over moratorium restrictions
The payments to the lenders or NCD holders remain in abeyance and will be subject to the outcome of the CIRP process, the company said.
 "DHFL defaults on NCD repayments of Rs 50 cr over moratorium restrictions")
Shapoorji Pallonji among 4 finalists for 535-acre theme park, UK's largest
EPC cost pegged at $1.8 billion; first phase to be launched in 2024
 "Shapoorji Pallonji among 4 finalists for 535-acre theme park, UK's largest")
About 70% start-ups impacted by Covid-19, 12% shutting operations: Survey
43 per cent of start-ups have already started salary cuts in the range of 20-40 per cent over the period of April-June 2020, it said.
 "About 70% start-ups impacted by Covid-19, 12% shutting operations: Survey")
Amazon, Flipkart help small businesses get ready for post-Covid-19 world
Experts said consumers are getting a majority of their essential and non-essential supplies home delivered via e-commerce platforms to minimise exposure to others and for convenience.
 "Amazon, Flipkart help small businesses get ready for post-Covid-19 world")
RIL planning to increase number of aviation fuel stations by 50%
RIL, which operates the world's largest single location oil refining complex, plans to capture this opportunity through increased presence at airports to refuel airplanes
 "RIL planning to increase number of aviation fuel stations by 50%")
Want alternate source for components other than China: Signify Innovations
The companies globally had started to get independent from China, as it was not necessarily getting cheaper for them, said Signify Innovations
 "Want alternate source for components other than China: Signify Innovations")
Maruti Suzuki's 3 reasons why rural mkts are doing better than urban areas
Buying sentiment in rural areas is also better due to good initial spell of rains in June which has led to a better sowing of the kharif crop
 "Maruti Suzuki's 3 reasons why rural mkts are doing better than urban areas")
UK PM Johnson to phase out Huawei's 5G role within months: Report
British officials reportedly drawing up proposals to stop installing new Huawei Technologies equipment in the 5G network in as little as six months.
 "UK PM Johnson to phase out Huawei's 5G role within months: Report")