Page 3249 - Company News

Coronavirus: India Inc steps up act to contain crisis as tally reaches 29

Across the country, companies have stepped up their act to contain the crisis. IT and other new economy firms seem to have taken a lead

Coronavirus: Govt to consider airlifting APIs only if industry pays

Due to Coronavirus outbreak in China, supply of pharmaceutical goods and components are being delayed

Coronavirus: Online travel firms offer refund after spike in cancellations

"…travellers are being cautious in making their (outbound) travel plans," said a spokesperson at MakeMyTrip

ED files fresh money laundering case against Jet Airways, Naresh Goyal

Earlier, the financial probe agency had registered a case of Foreign Exchange Management Act violations against the airline and Goyal last year

Volkswagen launches BS-VI compliant versions of Polo, Vento in India

The new Polo is powered by MPI and TSI petrol engines mated with both manual and automatic transmissions

SBI board accepts resolution plan for sale of RCom, subsidiaries

According to sources in the bank, the final voting on the resolution will be over on Wednesday

Moody's downgrades BoB's baseline credit assessment on asset quality issues

Agency also cites deteriorating operating environment for decision; affirms lender's domestic and foreign bank deposit ratings

Macrotech Developers likely to fend off near-term debt problems: Moody's

To proceed with its proposed bond, Macrotech will first have to raise about $118 million and deposit the proceeds in an escrow account, which is a condition precedent

Allcargo Logistics gets Sebi nod for open offer to buy 26% in Gati

Multi-modal logistics firm initiates final phase of stake buy in Gati

Tata Power's Mundra UMPP to snap power supply to five states on March 11

Decision comes after buyer states say no to tariff hike; UMPP has been in the middle of a tussle for seven years over passthrough of escalated cost of imported coal

As consumption soars, brands scour the sound cloud for a premium pitch

As consumption of wearables soars in the country, brands look at ways to build premium niches in the growing mass market for audio devices

Govt asks Airtel, Voda Idea, others to pay balance AGR dues without delay

The telecom department wrote to all the telcos asking them to pay balance dues "without delay" and also submit detailed bifurcation of payments

Higher bauxite sourcing helps Vedanta cut alumina-making cost by 8%

Alumina production at Lanjigarh was up 16 per cent y-o-y to 476,000 tonnes

Closure of copper facility in Tamil Nadu costs Vedanta Group $600 mn

The factory closed in March 2018 for annual maintenance first, and later due to protests when the govt issued an order to close the facility.

Coronavirus: Aviation stocks may descend further as traffic dwindles

The development comes as passenger growth - which has been slowing down on account of the economic slowdown - has taken further hit due to the outbreak of coronavirus

More drug licensing deals will play a big part in paring Glenmark's debt

The company's US sales growth has remained subdued due to intense competition for its dermatology range.

Kishore Biyani redesignated as non-executive VC at Future Lifestyle

The re-designation is based on the recommendations of the nomination and remuneration committee, the company said.

RCom creditors approve Rs 23,000 cr resolution plan to Jio, UVARCL: Report

Reliance Jio and UV Asset Reconstruction Company Limited were the highest bidders for RCOM assets at the CoC meeting held on January 13, 2019

Oyo to cut about 5,000 jobs in broad overhaul, highest reductions in China

The restructuring in China is in line with the global restructuring exercise announced in January 2020, said sources.

Warburg Pincus is looking to exit joint venture with Embassy Group

"Warburg is not happy with the speed with which the land acquisition and development happened in the JV," said sources.