Page 3236 - Company News
Sun Pharma board to consider buyback of shares next week
Analyst say more promoters likely to seek ways to cushion share price
 "Sun Pharma board to consider buyback of shares next week")
IL&FS case: Appellate tribunal accepts revised distribution framework
NCLAT has directed the company to place the matter thereafter before the tribunal for its approval
 "IL&FS case: Appellate tribunal accepts revised distribution framework")
Parliament passes amendments to Insolvency and Bankruptcy Code Bill
The Insolvency and Bankruptcy Code (Amendment) Bill, 2020 was passed by voice vote in Rajya Sabha. It was approved by Lok Sabha on March 6
 "Parliament passes amendments to Insolvency and Bankruptcy Code Bill")
Coronavirus impact: Seeking safe harbour under 'force majeure' may not help
Legal experts said that unlike many civil law jurisdictions, in India, force majeure is a contractual right, and not a right codified under the law
 "Coronavirus impact: Seeking safe harbour under 'force majeure' may not help")
Coronavirus may halt tourism, aviation; Visa suspension to cost Rs 85 bn
Assocham Tourism and Hospitality Council Chairman Subhash Goyal said since the outbreak of coronavirus, the aviation and tourism industries in India have been adversely affected.
 "Coronavirus may halt tourism, aviation; Visa suspension to cost Rs 85 bn")
Nestle, HUL, Asian Paints, Airtel stocks show resilience amid market mayhem
All these stocks' fortunes are linked to domestic consumption, rather than global growth.
 "Nestle, HUL, Asian Paints, Airtel stocks show resilience amid market mayhem")
Drop in demand due to travel curbs may stall airline revenues in Q4
Sharp fall in crude oil prices, however, is a positive
 "Drop in demand due to travel curbs may stall airline revenues in Q4")
Zydus Wellness gets a Complan boost, Sourav Ganguly's star power for brands
Over a year since the company acquired Complan, Glucon-D and Nycil, it is redrawing the marketing formula around its newly acquired brands
 "Zydus Wellness gets a Complan boost, Sourav Ganguly's star power for brands")
Accord Group enters pharma business, targets sales in 18 states
The company has invested around Rs 600 crore into a manufacturing facility in Chennai and plans to invest around Rs 1,500 crore by March 2022, for R&D, acquisitions and others as part of expansion
 "Accord Group enters pharma business, targets sales in 18 states")
Hotel stock investors fear June quarter due to coronavirus impact
Hotel stocks are likely to remain under pressure until the situation comes under control
 "Hotel stock investors fear June quarter due to coronavirus impact")
NCLAT accepts fresh 'pro-rata' distribution framework for IL&FS creditors
The appellate tribunal rejected the objections raised by the creditors, which wanted the NCLAT to follow Section 53 of IBC for distribution of funds
NCLAT rejects Dighi port promoters' plea challenging insolvency proceedings
The NCLAT said that the matter was already pending before the NCLT for passing the order
 "NCLAT rejects Dighi port promoters' plea challenging insolvency proceedings")
Earnings dip after coronavirus may test corporate India's resilience
Analysts see an immediate impact for companies in metals and mining, and oil and gas sectors
 "Earnings dip after coronavirus may test corporate India's resilience")
Coronavirus fear: Airlines, travel firms grapple with cancellation requests
Those with reservations face potentially steep losses for cancelling; those contemplating trips must weigh the risk of getting sick or being quarantined
 "Coronavirus fear: Airlines, travel firms grapple with cancellation requests")
Uncertainty around Coronavirus to keep cement prices stagnated: Experts
The construction sector is also likely to feel the jitters in case of a protracted domestic crisis due to the virus as it imports significant amount of products from China
 "Uncertainty around Coronavirus to keep cement prices stagnated: Experts")
End of exclusivity period will ensure fair play in gas pipeline business
The PNGRB is now taking careful steps to draft regulations on how to end the exclusivity and the subsequent issues of tariff and sharing of the existing infrastructure
 "End of exclusivity period will ensure fair play in gas pipeline business")
BSNL warns people of fake job offers being circulated by fraudulent company
Recently, the company offered voluntary retirement scheme to its employees to lower expenses incurred on their remuneration
 "BSNL warns people of fake job offers being circulated by fraudulent company")
Bandhan Bank to replace Yes Bank in Nifty50 index from March 27
The replacement has been done on account of non-availability of future and options contracts in Yes Bank shares, NSE Indices said in a statement.
 "Bandhan Bank to replace Yes Bank in Nifty50 index from March 27")
Nuvoco deposits Rs 250 crore in escrow account for Emami Cement deal
Sources in the know said the amount was being paid to show 'Nuvoco's commitment' to finalise the agreement, which it signed with Emami last month for acquisition of the cement assets
 "Nuvoco deposits Rs 250 crore in escrow account for Emami Cement deal")
India will require 1,880 passenger, cargo aircraft by 2038: Airbus
Airbus has assumed the Indian middle-class population will grow to 1 billion or 68% of the total population by 2038, as compared to the present 540 million
 "India will require 1,880 passenger, cargo aircraft by 2038: Airbus")