Page 3626 - Company News
SBI General Insurance aims at Rs 6,000-crore premium income in FY20
The company is bullish on SME and health segments to counter slowdown in auto space
 "SBI General Insurance aims at Rs 6,000-crore premium income in FY20")
HPCL Q1 net profit dips 53% to Rs 811 cr over decline in refining margin
The decrease in profit is due to sharp decline in crude prices in the month of May and June 2019 leading to inventory losses both at refinery and marketing
 "HPCL Q1 net profit dips 53% to Rs 811 cr over decline in refining margin")
University Living registers 300% growth in global student accommodation biz
In the past four months alone, the company has exceeded the total business done in the previous year, beating the target number and internal milestones for FY 2019-20 ahead of its time
 "University Living registers 300% growth in global student accommodation biz")
Vivo to set up new manufacturing unit in UP to 'double existing capacity'
The new capacity is part of the company's Rs 4,000-crore expansion plan in the country. It will have a capacity of manufacturing 25 million smartphones a year
 "Vivo to set up new manufacturing unit in UP to 'double existing capacity'")
Twitter used users' personal data for advertising without consent
The fault was corrected Monday, an investigation is being conducted to determine how many people have been affected
 "Twitter used users' personal data for advertising without consent")
Anand Mahindra pitches for lower GST or cess rollback to revive auto sector
As many as 350,000 jobs have reportedly been lost in the auto industry since the start of the fiscal
 "Anand Mahindra pitches for lower GST or cess rollback to revive auto sector")
Cipla increases stake in consumer health biz to 100%, looks for tie-ups
The drug maker had set up a separate company with private equity investment in FY2016 to tap the fast growing over the counter medicine portfolio
 "Cipla increases stake in consumer health biz to 100%, looks for tie-ups")
Banks must transmit RBI rate cut to hike consumption, investment: India Inc
The Reserve Bank of India's (RBI) Monetary Policy Committee on Wednesday cut the interest rate by 35 basis points -- the fourth successive reduction -- to a nine-year-low level
 "Banks must transmit RBI rate cut to hike consumption, investment: India Inc")
Starbucks expansion plan picks up steam, 3 new stores opened in Ahmedabad
Two years ago, the company added 25 stores and last year it added 30 stores
 "Starbucks expansion plan picks up steam, 3 new stores opened in Ahmedabad")
Starbucks expansion plan gathers steam, 30 stores to be launched in FY20
Bullish about coffee industry in India, says Tata Starbucks CEO Navin Gurnaney
 "Starbucks expansion plan gathers steam, 30 stores to be launched in FY20")
Gangwal's fear over Bhatia's group does no credit to directors: Damodaran
The differences between the two promoters came into the public view after Gangwal, last month, sought markets regulator Sebi's intervention to address alleged corporate governance issues at the firm
 "Gangwal's fear over Bhatia's group does no credit to directors: Damodaran")
Dairy brands undergo lifestyle change with niche portfolios, local sellers
Discerning and demanding customers are driving big brands to go mass with niche portfolios and local sellers, to expand their scope
 "Dairy brands undergo lifestyle change with niche portfolios, local sellers")
As crisis deepens, auto industry seeks stimulus package from govt
The auto industry also wants the government to direct banks not to reduce lending to those segments which has the lowest NPA, such as the passenger vehicles segment
 "As crisis deepens, auto industry seeks stimulus package from govt")
Tata Tele (Maharashtra) loss narrows down to Rs 229 crore in Q1FY20
Total income of of the company for the just concluded June quarter came in at Rs 295.2 crore
 "Tata Tele (Maharashtra) loss narrows down to Rs 229 crore in Q1FY20")
BSNL chief dispels rumours of likely service disruption over financial woes
Bharat Sanchar Nigam Ltd (BSNL) has been in the grip of severe liquidity crunch, and recently delayed payment of employees' wages for the second time this year
 "BSNL chief dispels rumours of likely service disruption over financial woes")
OYO appoints Mandar Vaidya as CEO for South East and West Asia
He would be responsible for driving business growth for OYO in these two regions, which include markets like Indonesia, Malaysia, the Philippines, Vietnam, UAE, and the Kingdom of Saudi Arabia
 "OYO appoints Mandar Vaidya as CEO for South East and West Asia")
Tanishq to add 54 more store to existing 300 in FY20 says official
Tanishq is expecting 20 per cent growth and eyeing about Rs 20,000 crore turnover in the current fiscal
 "Tanishq to add 54 more store to existing 300 in FY20 says official")
Mahindra warns of job losses in auto sector, seeks government's help
A slump in sales is also triggering massive job cuts in the sector that employs 35 million people directly and indirectly
 "Mahindra warns of job losses in auto sector, seeks government's help")
M&M consolidated PAT falls 52.56% in June quarter to Rs 894 over weak sales
Its total income during the period stood at Rs 26,289.48 crore as compared with Rs 26,260.64 crore in the corresponding quarter a year ago
 "M&M consolidated PAT falls 52.56% in June quarter to Rs 894 over weak sales")
Music app Gaana expects to break even in 4-5 years: CEO Prashan Agarwal
The firm expects to double the number of monthly active users on its platform to 200 mn in the next 2 years, representing around 50% share of the overall market
 "Music app Gaana expects to break even in 4-5 years: CEO Prashan Agarwal")