Page 3111 - Company News

M&M plans to exit loss-making international subsidiaries in a year

The move is prompted by the steep impairment loss reported by the consolidated entity as SsangYong Motor (SYMC), its Korean subsidiary, and Genzee, its two-wheeler entity in the US, turned in losses.

Mahindra reports first quarterly loss in 19 years amid Covid-19 crisis

Net loss stood at Rs 1,761 cr in Q4

Semiconductor assembly majors plan to set up manufacturing units in India

If the current talks with the ATMP big boys fructify, it will be a major step for the country.

M&M: Rural demand, normal monsoons and higher MSP to support volumes

Capital allocation, urban volumes, new regime key factors to be seen

ONGC seeks crude price assurance of $45 per barrel, cuts capex by 15%

The largest domestic oil and gas producer had budgeted a capex of Rs 32,502 crore for the financial year, which has now been cut to around Rs 27,500 crore.

Manoj Modi, the rainmaker behind Mukesh Ambani's $13-billion deal spree

Reserved and mostly invisible to the public, Modi is viewed by many insiders and others in India's business world as the right hand of billionaire Mukesh Ambani.

Chinese banks face increased litigation to recover Anil Ambani dues

SBI moves NCLT to invoke Anil Ambani's guarantee almost two years after RCom was first sent to the Tribunal for recovery of dues by Indian creditors

Mistry questions Tata's performance, says group's loss at Rs 13K-cr in 2019

According to Mistry, the loss numbers were arrived at by excluding the huge dividend that the group cash-cow TCS was paying, which was averaging at over 85 per cent annually

Despite Covid-19 induced slowdown, Infosys to do campus hirings this fiscal

The IT firm will soon initiate discussions with colleges to start the process from September

SBI knocks on NCLT's doors to recover Rs 1,200 cr from Anil Ambani

The tribunal, presided over by BSV Prakash Kumar, on Thursday gave Ambani a week to file reply to the application.

Wage payments during lockdown: No action on employers till July, rules SC

States should facilitate settlement between companies and employees over wages, says court.

Hyundai Motor to shut down Irungattukottai facility for annual maintenance

This maintenance activity will be carried out during the period June 15-19, 2020, in both the Hyundai plants for upgradation of robots as well as existing machinery

Biocon gets a shot in the arm with FDA approval for insulin glargine

The drug will be major contributor in the firm's bid to reach $1 billion revenue target by FY22, says biologics CEO Hamacher

Mahindra to give up control of struggling South Korean unit amid Covid-19

Mahindra earlier reported a consolidated net loss of Rs 19.55 billion ($258 million), compared with a net profit a year ago, as it booked a writedown on its investment

Marriott partners Zomato to expand home delivery services in 12 cities

The company's home delivery service, 'Marriott on Wheels', has also branched out into providing corporate outdoor catering services and Bento Box meals

EU antitrust watchdog set to press charges against Amazon: Report

When providing a marketplace for independent sellers, Amazon continuously collects data about the activity on its platform

American Express pledges Rs 9 cr to help those combating Covid-19 in India

The grants will help provide protective equipment to frontline healthcare workers, support the development of vaccines and research and help feed people

Maruti Suzuki launches Celerio S-CNG in India, price starts at Rs 5.36 lakh

The Celerio S-CNG variants are priced at Rs 5.36 lakh, Rs 5.61 lakh and Rs 5.68 lakh.

Netflix in talks with RIL; to source Indian content from Viacom18: Report

Under the partnership, Network18 affiliates - which include its joint venture with ViacomCBS, Viacom18 - would create shows for Netflix to help the US firm expand offerings in India

Post lockdown, UP green panel shuts 50% capacity of Kanpur tanneries

Issues monthly roster for tanneries to operate for 15 days each by rotation