Page 3521 - Company News

Parle Biscuits net profit rises 15% in FY19; revenue up 6.4% to Rs 9,030 cr

According to information shared by business platform Tofler, Parle Biscuits' FY19 net profit was Rs 410 crore versus Rs 355 crore reported the previous year

Indians are entrepreneurs at heart: Tata Sons Chairman Emeritus Ratan Tata

"... a highly successful entrepreneur will find opportunities are greater in markets outside of India, so that is a judgment call the entrepreneur makes," Tata said

FMCG slowdown gets worse in Q2 as consumer sentiment remains tepid

Sector analysts admit the going will be tough for companies in Q2, an admission that some firms have already made in their recent quarterly updates

Loan repayment case: Altico Capital, AU Small Finance Bank reach settlement

Altico, a lender focused on real estate finance, had availed of a term loan of Rs 62 crore from the bank which AU SFB recalled earlier

Volkswagen presses the accelerator for Skoda with new models, more dealers

The auto brand is hoping to expand its presence in India with a wider sales network, deeper consumer engagement, and a lighter cost of ownership

Air India stake sale: Buyer to get only Rs 10,000 crore of airline debt

This is a third of Rs 33,992 crore debt that was to be passed on to the new owner during last year's failed disinvestment process

Keep off firms under insolvency, go after promoters: SBI chief to ED, CBI

Kumar said the agencies should follow this rule especially in case of companies which are undergoing bankruptcy process, as new suitors are "not fools" to risk their money

Weak demand, margin pressure set to worsen for Cummins India; stock falls

New emission norms to further add to demand challenges

RFL case: Singh brothers said Rs 1,000 crore siphoned off, EOW tells court

The submission was made before Chief Metropolitan Magistrate Deepak Sherawat who extended by two days the police custody of the Singh brothers and Sunil Godhwani, the former chairman and MD of REL

IDBI AMC employees fear for jobs as bank considers divesting stake

According to sources, 190-200 employees at IDBI AMC have raised concerns over job continuity

M&M aims to boost exports with Ford partnership, but market is in a slump

Both companies expect to achieve cost synergies, pare product development time and cost and leverage each other's distribution reach to boost exports

AI firm CleverTap raises $35 mn in funding round led by Tiger Global

Funds will be used to fuel team growth across engineering, sales, and marketing across the US, Latin America, Europe, and Asia

Tariff at current level not sustainable, must go up, says Airtel CEO

Vittal refused to comment on whether the company was planning to increase tariffs

Flipkart forays into original video content, takes on Amazon and Netflix

Integrated within the Flipkart Video platform, launched in August, Flipkart Video Originals will be produced by well-known industry figures

Jain Irrigation Systems cut to 'selective default' by S&P Global Ratings

The company missed certain principal payments under its working capital facilities and S&P sees a "high likelihood" that the firm would be classified as a nonperforming asset by its bankers

Promoters sell 22% stake in Bajaj Consumer Care for Rs 700 crore

With this transaction, the promoters' stake will fall to 38 per cent and their pledged stake will come down to zero from 63 per cent

Essar Steel CoC defends lower pay out to Standard Chartered Bank

Apex court starts hearing CoC challenge to NCLAT approving higher payout to operational creditors

Flipkart appoints Jeyandran Venugopal chief product and technology officer

Venugopal will provide strategic leadership to the organisation and define the technology vision for the company with a specific focus on building future capabilities across product and engineering

Two in three cos may shift to new corporation tax rates immediately: Crisil

Half of those shifting may use tax savings for ongoing capex to strengthen balance sheet

TCS employees can sit for exams to be eligible for higher package

Starting FY20, the same opportunity has been extended to employees who joined the system up to three years ago