Page 3137 - Company News

Aditya Birla Fashion plans to launch Rs 1,000-cr rights issue: Official

The rights issue is part of their objectives of reducing leverage, strengthening balance sheet apart from funding general corporate expenses, including working capital

Passenger on Alliance Air's Delhi-Ludhiana flight tests Covid-19 positive

According to the spokesperson, there were 36 passengers and five crew members in the flight.

Icra expects moderate participation in spectrum auctions up to Rs 60,000 cr

The Centre has budgeted Rs 1.33 trillion as non-tax receipts from the telecom sector for FY2021

NCLT approves IL&FS stake sale in GIFT City to Gujarat govt

That sale consideration payable to IL&FS excluding resolution process costs shall be credited into a designated escrow account intimated to the infrastructure lending group

Franklin Templeton gave Rs 518 cr loan to YES Capital

Schemes among the six wound up by the fund house had given the loan crore against non-convertible debentures (NCDs) to the firm in March 2019, according to ED's chargesheet

Ola Electric buys Dutch scooter company Etergo valued at $92 million

Etergo's scooters use swappable, high energy density batteries that give it a range of up to 240 km.

Elgi Equipments to wind up Chinese subsidiary over economic downturn, Covid

The subsidiary is in the business of import, warehousing, selling and servicing. The winding-up activities are likely to begin shortly

Uber trims a quarter of its India workforce, lays off 600 employees

The move is part of a global restructuring plan announced earlier by Uber CEO Dara Khosrowshahi in view of dwindling fortunes amid Covid-19 lockdowns in several countries, including India

Nokia shuts Tamil Nadu plant after 42 employees test positive for Covid-19

Nokia did not disclose how many workers at the Sriperumbudur plant tested positive, but a source familiar with the matter said they were at least 42.

GSK Pharma: Near term headwinds may keep stock prices under pressure

April sales were the worst among top drug players

Bata: Despite subdued Q4, hope of faster recovery may keep sentiment intact

Q4 was weak with 8.8% fall in top line and 45.5% decline in pre-tax profit

JSPL's all-round beat in Q4 leaves investors happy; stock rises over 13%

Operational performance is expected to remain good, and volume growth guidance too bodes well

Undeterred by the coronavirus pandemic, Skoda launches three new models

Skoda has launched the models at a time when the pandemic and lockdown have sapped sentiments and India is staring at a recession

Cement firms hike prices even as expansion plans come to a grinding halt

Two of the top three cement producers - UltraTech Cement and Shree Cement - have so far indicated they will go slow on certain expansions

Lockdown 4.0: Stand-off between retailers and malls over rentals worsens

At the heart of the matter are revenue-share rental agreements that retailers are mooting over fixed-rent contracts that they say are unsustainable

Revised inter-creditor pacts may do away with need for 66% lenders' nod

Banks will be able to customise ICAs in accordance with their needs even as more financial stakeholders are on-boarded, including those with foreign currency exposures

Reliance looks at Nasdaq listing for Jio Platforms; IPO likely by 2021

Morgan Stanley is likely to be appointed the lead banker to manage the overseas listing, while Bank of America Merrill Lynch and Citibank may also be roped in for the IPO, another source informed.

Coronavirus to trigger fresh consolidation across sectors, says BofA

Brokerage says organised, large firms will grab more market share in the post-Covid world

Bharti Airtel promoter raises Rs 8,433 cr by offloading 2.75% stake

According to BSE data, Societe Generale picked up 35.3 million shares at Rs 561.1 apiece

Titan defers launch of jewellery collections, expects demand to be muted

Company says Covid-19 situation to adversely affect profitability during the first half of this year