Page 3114 - Company News
Delisting may create governance issues in companies, warns Fitch
Corporates can also simplify or reorganise complex group structures without the interference of minority shareholders through such moves, the agency said
 "Delisting may create governance issues in companies, warns Fitch")
Daikin to go ahead with investment plan for 3rd manufacturing unit in India
The company, which has plans to set up a third manufacturing unit in South India, would make an announcement regarding it very soon after finalising the site
 "Daikin to go ahead with investment plan for 3rd manufacturing unit in India")
SC questions DoT's AGR demand on PSUs, says it is 'totally impermissible'
A Bench of Justices Arun Mishra, S Abdul Nazeer and M R Shah raised questions on the demand raised by the government from PSUs and said its verdict in the case had been misinterpreted
 "SC questions DoT's AGR demand on PSUs, says it is 'totally impermissible'")
Bharti Infratel defers board meet to decide on merger with Indus Towers
The Board of the telecom infrastructure company was to take a final decision on the scheme of arrangement with Indus Towers
 "Bharti Infratel defers board meet to decide on merger with Indus Towers")
Near-term hiccups to have limited impact on Abbott India's growth: Experts
Despite the muted result and near term worries, the multinational drug major, India's second largest by market share is expected to post strong growth led by power brands and new launches
 "Near-term hiccups to have limited impact on Abbott India's growth: Experts")
Uber India chief Parameswaran gets bigger role, to oversee ops in 9 nations
Pradeep Parameswaran joined Uber in January 2017, first leading Central Operations for India and South Asia before becoming the head of the Rides business in India and South Asia
 "Uber India chief Parameswaran gets bigger role, to oversee ops in 9 nations")
Amazon bans police use of its face recognition for a year amid criticism
Floyd died May 25 after a white Minneapolis police officer pressed his knee into the handcuffed black man's neck for several minutes even after Floyd stopped moving and pleading for air
 "Amazon bans police use of its face recognition for a year amid criticism")
JD.com raises $3.87 billion in Hong Kong secondary listing: Report
JD.com, which is already listed on the Nasdaq in New York, had previously flagged it would sell 133 million shares
 "JD.com raises $3.87 billion in Hong Kong secondary listing: Report")
Lilly Covid-19 treatment could be authorised by September: Chief Scientist
Lilly has already launched human trials with two of the experimental therapies
 "Lilly Covid-19 treatment could be authorised by September: Chief Scientist")
From PepsiCo to Britannia, brands step up to the digital storefront
Pepsi, Coke, Britannia, Kwality Walls and a host of other brands line up for e-stores on delivery apps, rethink visual identities, and the retail experience
 "From PepsiCo to Britannia, brands step up to the digital storefront")
Covid-19 crisis: Hindustan Unilever's crorepati club shrinks by 10% in FY20
HUL's permanent employee base in FY20, for the record, stood at 7,082, an increase of 25 per cent over the previous year.
 "Covid-19 crisis: Hindustan Unilever's crorepati club shrinks by 10% in FY20")
Apollo Global Management, ICICI Venture to end joint venture AION Capital
The two firms will continue with AION fund 1, which had raised $850 million, till their investments are redeemed and the fund wound up in the next few years.
 "Apollo Global Management, ICICI Venture to end joint venture AION Capital")
Tata Sons may dip into overseas debt markets to meet fund requirements
The size of the international fund offering has not been decided as yet and it is one of the options on the table, said a banker close to the development
 "Tata Sons may dip into overseas debt markets to meet fund requirements")
Indian Hotels' Q4 consolidated profit before tax drops 69% to Rs 58.1 crore
Its consolidated net profit at Rs 76.29 crore was down 37.75 per cent. It posted a net profit (PAT) of Rs 122.56 crore for the corresponding period of the previous fiscal.
 "Indian Hotels' Q4 consolidated profit before tax drops 69% to Rs 58.1 crore")
India to drive global gas demand post-slowdown, output to rise too: IEA
Consumption to increase by 28 bcm between 2019-25
 "India to drive global gas demand post-slowdown, output to rise too: IEA")
OMCs: Demand recovery, inventory gains, marketing margins to drive earnings
Over the last three-four days, OMCs have increased the per litre price of gasoline and diesel by a total of Rs 2.14 and Rs 2.23, respectively
 "OMCs: Demand recovery, inventory gains, marketing margins to drive earnings")
Starbucks sees up to $2.2 bn hit to 3rd quarter income due to Covid-19
Starbucks projected an adjusted loss of about 55 cents to 70 cents per share for its third-quarter ending in June, and said it expects US same-store sales to drop by up to 45%
 "Starbucks sees up to $2.2 bn hit to 3rd quarter income due to Covid-19")
Priyamvada Devi Birla will case: HC notice to 3 firms of MP Birla Group
While Birlas say firms are part of dispute and will fall under orders and decisions of Probate Court, Lodhas say they are not part of proceedings regarding the estate of late Priyamvada Devi Birla
 "Priyamvada Devi Birla will case: HC notice to 3 firms of MP Birla Group")
Inox Leisure defers FY21 capex plans, PVR to raise Rs 300 crore
Analysts have already said the April-June peroid of FY21 will be a washout since multiplexes have been shut for the duration
 "Inox Leisure defers FY21 capex plans, PVR to raise Rs 300 crore")
Cholamandalam's investors should brace for higher asset quality pressure
Management expects further rise in already-high moratorium book
 "Cholamandalam's investors should brace for higher asset quality pressure")