Page 3101 - Company News
Cement sector: If demand fails to pick up, stocks may come under pressure
Going ahead, raction in rural demand should continue in the back of good crop, normal monsoon, labour availability and government's welfare schemes
 "Cement sector: If demand fails to pick up, stocks may come under pressure")
ICICI Bank sells 3.96% stake in ICICI Lombard for Rs 2,250 crore
Post the transaction, the ICICI Bank's stake in its general insurance subsidiary stands at 51.9 per cent and the rest is publicly held
 "ICICI Bank sells 3.96% stake in ICICI Lombard for Rs 2,250 crore")
LIC Housing Finance posts 16% fall in pre-tax profit at Rs 826.72 crore
Its net profit fell sharply, by 40 per cent, to Rs 421.43 crore from Rs 693.58 crore in Q4FY19.
 "LIC Housing Finance posts 16% fall in pre-tax profit at Rs 826.72 crore")
SC stays FT's e-voting for winding up schemes, transfers cases to Kerala HC
Franklin Templeton had filed a petition in the Supreme Court challenging the stay granted by Gujarat High Court on the e-voting process
 "SC stays FT's e-voting for winding up schemes, transfers cases to Kerala HC")
No dividend for FY20: Thomas Cook's Rs 300-crore cash saving plan
Thomas Cook says it has comfortable liquidity position and is focusing on cash conservation and cost optimisation across all aspects of business in view of uncertain demand scenario
 "No dividend for FY20: Thomas Cook's Rs 300-crore cash saving plan")
Infosys expects 35% of staff to work from home amid Covid-19 crisis
More than 90 per cent of staffers of most IT services firms are working from home. The companies are in no hurry to bring them back despite the relaxation in lockdown.
 "Infosys expects 35% of staff to work from home amid Covid-19 crisis")
Hindalco Industries plans to sell 65% aluminum overseas this year
Exports during the year that started April will increase to as much as 65% of total output compared with 50% last year, Managing Director Satish Pai said
 "Hindalco Industries plans to sell 65% aluminum overseas this year")
Low number of free-float pushes Ruchi Soya Industries to record high
The edible oil maker's market capitalisation is up nearly 300 times since the beginning of November last year and 70 times since its acquisition by Pantanjali Ayurved under the IBC
 "Low number of free-float pushes Ruchi Soya Industries to record high")
How RIL became the first Indian company to top Rs 11 trn in market-cap
Shares of RIL have more than doubled from this year's low of Rs 868 in March underpinned by a stream of investments in its arm Jio Platforms
 "How RIL became the first Indian company to top Rs 11 trn in market-cap")
Cadila Healthcare's Q4 PBT falls 14% to Rs 522 cr, total income rises 0.66%
Cadila has also been working on a DNA vaccine to fight Covid-19, which is currently in the animal testing stage
 "Cadila Healthcare's Q4 PBT falls 14% to Rs 522 cr, total income rises 0.66%")
Wipro's new CEO Thierry Delaporte to draw up to 4.45 mn euros in annual pay
His remuneration will include basic pay in the range of 1.07-1.4 million euros per annum and a target variable pay in the range of 1.7-2.5 million euros per annum
 "Wipro's new CEO Thierry Delaporte to draw up to 4.45 mn euros in annual pay")
RIL a net debt-free firm now, will rope in investors in retail biz: Ambani
As on March 2020, RIL had a net debt of Rs 1.61 trn and managed to turn itself net debt-free after raising Rs 1.68 trn via a 24.7% stake sale in Jio Platforms, and its rights issue
 "RIL a net debt-free firm now, will rope in investors in retail biz: Ambani")
Air India offers 3-day working week to permanent staff at 60% pay
This measure has been introduced in order to improve the airline's cash flow position amid the coronavirus pandemic
 "Air India offers 3-day working week to permanent staff at 60% pay")
RIL shares jump over 6%; market valuation crosses Rs 11 trn mark
Earlier in the day, Ambani announced that Reliance Industries had become net debt-free after raising a record Rs 1.69 trillion from global investors and a rights issue in under two months
 "RIL shares jump over 6%; market valuation crosses Rs 11 trn mark")
Indian CEOs of top Chinese smartphone brands get trolled on Twitter
Many Twitter users wrote "boycott Chinese goods" in the comment section of tweets to promote upcoming or existing products
 "Indian CEOs of top Chinese smartphone brands get trolled on Twitter")
Big Boy Toyz eyeing non-metros for pre-owned luxury car business
Firm says it's mostly aspirational buyers from Tier-2 and 3 cities who come looking for used luxury cars for better value for money
 "Big Boy Toyz eyeing non-metros for pre-owned luxury car business")
In pics: How Mukesh Ambani's RIL became net debt-free in just 58 days
Reliance Industries is net debt-free after raising a record Rs 1.69 trillion in almost two months. Here's a timeline of the investments
 "In pics: How Mukesh Ambani's RIL became net debt-free in just 58 days")
Tata Power subsidiary to develop 100-Mw solar project in Maharashtra
The project is required to be commissioned within 18 months from the date of execution of the PPA
 "Tata Power subsidiary to develop 100-Mw solar project in Maharashtra")
Dr Reddy's launches cancer drug Abiraterone Acetate in US market
The drug is a therapeutic equivalent generic version of Zytiga owned by Johnson & Johnson
 "Dr Reddy's launches cancer drug Abiraterone Acetate in US market")
Alembic Pharma gets USFDA nod for generic Adapalene gel for acne treatment
The product was indicated for the topical treatment of acne vulgaris in patients 12 years of age and older, Alembic Pharma said
 "Alembic Pharma gets USFDA nod for generic Adapalene gel for acne treatment")