Page 3106 - Company News
Wipro to offer up to Rs 40 cr in annual salary to its CEO designate
The new CEO, who will join on July 6, will be one of the highest paid executives in Indian IT industry
 "Wipro to offer up to Rs 40 cr in annual salary to its CEO designate")
HDFC's board approves raising up to Rs 14,000 cr through various means
The funds will be raised through issuance of equity shares or compulsorily-convertible debentures, non-convertible debentures along with warrants, foreign currency convertible bonds
 "HDFC's board approves raising up to Rs 14,000 cr through various means")
Amazon signals entry into alcohol delivery in India with nod in WB: Report
Alibaba-backed Indian grocery venture BigBasket has also won approval to deliver alcohol in the state, the notice said
 "Amazon signals entry into alcohol delivery in India with nod in WB: Report")
Nestle India CMD Suresh Narayanan's term extended by another 5 yrs
Narayanan had joined Nestle India as managing director on August 1, 2015, when the company was facing the Maggi crisis
 "Nestle India CMD Suresh Narayanan's term extended by another 5 yrs")
Drone start-up TechEagle to part ways with Zomato, venture into health care
The firm, which it is already working on projects like 'Medicine from The Sky Project' with the Telangana Government and World Economic Forum
 "Drone start-up TechEagle to part ways with Zomato, venture into health care")
ITC and Nestle can't claim monopoly over noodle brands: Madras HC
The order was issued in a dispute filed by ITC alleging that Nestle India has used the expression 'Magical Masala' for its instant noodles brand Maggi in 2013.
 "ITC and Nestle can't claim monopoly over noodle brands: Madras HC")
What boycotting? OnePlus 8 Pro sold out within minutes on Amazon India
While OnePlus 8 and 8 Pro were launched in April, the devices were not brought into the Indian market given the lockdown
 "What boycotting? OnePlus 8 Pro sold out within minutes on Amazon India")
Mukesh Ambani now 9th richest globally; RIL's m-cap crosses Rs 11-trn mark
In March 2020, Ambani was ranked 21st on Forbes' annual billionaire list, with a net worth of $36.8 billion, while Page and Brin were 13th and 14th.
 "Mukesh Ambani now 9th richest globally; RIL's m-cap crosses Rs 11-trn mark")
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
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")