Page 3201 - Company News

Covid-19 lockdown: States stop renewable power purchase, hold back payments

Invoke force majeure cluse, get a rap on knuckles from MNRE, which asks them to continue buying and paying for RE even during lockdown

Use of Force Majeure Clause by GAIL, IOC expected to end in disputes

Force majeure is a part of contracts in India, where companies will be excused from paying penalties for non-performance, in case of an unforeseen event outside their control.

Firms looking at time, cost relief while invoking force majeure

Corporates are relying on a government notification in February that says firms can invoke the clause as coronavirus can be considered a major "natural calamity."

Data centre providers get viral boost as more people work from home

Data centres have been in the limelight over the past two years, since the intensifying of conversation around locally storing data of Indian users

India Inc asks new recruits to 'stay home' amid coronavirus outbreak

Chief executives (CEOs) and head-hunters say that besides an across-the-board freeze on hiring, a salary cut for staff starting April is a possibility.

Merger complete, focus now shifts to integration of HUL-GSK operations

The merger will also give HUL access to brands such as Horlicks and Boost, pitting the company against rivals such as Nestle India, another big player in the health and nutrition segment.

Coronavirus impact: Revenues of IT companies may take a big hit in FY21

Dollar revenues likely to fall by up to 300 bps

Tata Power to restart Mundra UMPP units to supply low-cost electricity

Tata Power supplies power to five states - Maharashtra, Gujarat, Rajasthan, Punjab, and Haryana - from the 4,000-megawatt plant

Downgraded Rs 7-trn debt as credit quality of Indian firms worsened: ICRA

The agency said policymakers will have to unleash more measures to avoid severe economic imbalances if the COVID-19 crisis prolongs

UK court dismisses ArcelorMittal's arbitral award plea against Essar Steel

In the order the London High Court said there was no grounds to order a global freeze on the Ruia and Essar assets

Expect long delay in ticket refunds as Covid-19 chokes airline revenues

International Air Transport Association estimates $35 billion refund liability for airlines globally

Covid-19: TikTok donates Rs 100 cr in safety gear to Indian medical staff

Will give away 400,000 hazmat medical protective suits and 2,00,000 masks

PhonePe launches coronavirus hospitalisation insurance policy 'Corona Care'

For this, it has partnered with Bajaj Allianz General Insurance, one of the country's largest general insurance companies

Maruti Suzuki car sales drop 47% in March; ends FY20 with 16% decline

Export sales were down 55 per cent to 4,712 units from 10,463 in the year-ago period

Ashok Leyland domestic sales skid 91% in March, Eicher total sales dip 83%

Eicher's commercial vehicle (CV) sales dropped by 81 per cent to 1,409 units during the month from 7,329 units, a year ago

Bangladeshi garment export faces $6 bn hit as world retailers cancel orders

Garment exports accounted for $34.12 billion, or 84% of the country's overall exports of $40.53 billion, in the fiscal year ended June 30, 2019.

Xerox abandons $35 bn hostile bid for HP over Covid-19 outbreak: Report

The decision came after Xerox said earlier this month it would postpone meetings with HP shareholders to focus on coping with the coronavirus pandemic

Australian competition regulator approves Asahi-AB Inbev deal worth $11 bn

Under the pledge with Australia's Competition and Consumer Commission, Asahi will sell its Stella Artois and Beck's beer brands and Strongbow, Bonamy's and Little Green cider brands.

Coronavirus impact: SpiceJet to reduce salary of employees by 10-30%

The airline's Chairman and Managing Director, Ajay Singh, has also opted for a 30% cut in his March salary

Downgrades due to Covid-19 to keep Bharat Forge stock under pressure

Stock down 5% on weak truck and oil and gas outlook