COMPANIES & SECTORS


Moneylife Digital Team 11 June 2021
A few weeks back when the country was dealing with the gruesome second wave of the COVID-19 pandemic with hospitals running over-capacity along with massive shortage of health care facilities, medicines and oxygen, many corporates across India pitched in to help in COVID relief efforts....

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A new report by Edelweiss Securities says that fast moving consumer goods (FMCG) companies which have stepped up technology adoption in their sales, warehouse and inventory management, and distributor systems will enjoy improved efficiency and productivity in the long run.    While...

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Covid-induced economic volatility contracted the demand for domestic passenger vehicles in last month from May 2019 levels.   However, base effect along with low interest rates and some pent-up demand showed an accelerated rise in domestic demand in May 2021 on a year-on-year...

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Moneylife Digital Team 11 June 2021
The enforcement directorate (ED) has issued a show cause notice to India’s biggest cryptocurrency exchange WazirX and its directors for contravention of Foreign Exchange Management Act (FEMA) for transactions involving cryptocurrencies worth Rs2,790.74 crore.   ED has issued...

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Moneylife Digital Team 11 June 2021
High sugar exports for the second sugar season (SS; October-September) in a row, coupled with increased supplies of ethanol - and at remunerative prices - for blending with petrol, will improve the operating profitability of integrated sugar mills by 75-100 basis points (bps) to 13-14% this...

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In what may be a big casualty of COVID-19 related market disruptions, India's Petronet LNG Ltd has shelved it's $2.5 billion investment plan in US LNG developer Tellurian's upcoming Driftwood LNG terminal in Louisiana.   Government sources said that with low spot LNG prices and gas...

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Moneylife Digital Team 10 June 2021
With monthly auto registrations falling by 55% and by a whopping 71% over May 2019, the Federation of Automobile Dealers Associations (FADA) requested prime minister (PM) Narendra Modi to instruct Reserve Bank of India (RBI) to grant moratorium for auto-dealers and release guidelines for...

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The National Company Law Tribunal (NCLT) has approved the resolution plan of Twin Star Technologies Limited, a Vedanta Group company, to acquire the bankrupt Videocon Industries.   The committee of creditors (CoC) of Videocon had approved the plan last year with 95.09% votes. The plan...

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Moneylife Digital Team 08 June 2021
63 moons technologies has decided to challenge the order passed by National Company Law Tribunal (NCLT), permitting Piramal group to take over beleaguered Dewan Housing Finance Ltd (DHFL) under the Insolvency and Bankruptcy Code (IBC).    In a release, 63 moons says it believes that...

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The intense second wave of Covid-19 afflictions and consequent lockdowns will limit growth in the domestic commercial vehicle (CV) sales volume to 23-28 per cent this fiscal, compared with 32-37 per cent expected prior to its onset, Crisil said on Monday.   Volume growth had...

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As the nation tries to fight the second wave of the pandemic, which has brought with it a record number of infections and fatalities, the PHD Chamber of Commerce and Industry conducted a quick survey to assess the impact of the current situation on industry.   The survey, which was...

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The Board of Directors of Reliance Infrastructure Ltd (RInfra) at its meeting held on Sunday has approved raising of funds upto Rs 550.56 crore by preferential allotment of upto 8.88 crore equity shares and/or warrants convertible into equivalent number of equity shares of the company to...

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Vaccines and mRNA-based technologies have rapidly emerged as promising new therapeutic modalities, but Indian companies are lagging behind in adopting these innovation platforms.   A report by foreign brokerage Jefferies said that Indian companies are missing the bus on relatively...

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Moneylife Digital Team 04 June 2021
It has been more than two months since the country started grappling with the second wave of coronavirus (COVID) and when every institution was overwhelmed by the pressure of rising new cases. Corporates came to the rescue, opened their purses, and put their money where their hearts are, with...

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Moneylife Digital Team 04 June 2021
A less severe economic impact from the COVID pandemic's second wave and resilient buyer sentiment will support a swift rebound in India's automotive demand after curbs are eased, Fitch Ratings says.    This should drive double-digit growth across most segments in the financial year...

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The Reserve Bank of India (RBI) has increased the exposure threshold to benefit under its Resolution Framework 2.0 to Rs 50 crore.   The 'Resolution Framework 2.0' announced by RBI on May 5, 2021, so far had mandated a maximum aggregate exposure of Rs 25 crore for considering...

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Moneylife Digital Team 03 June 2021
Grant Thornton India LLP (GT), the forensic auditor of IL&FS Engineering and Construction Co Ltd (IECCL), has found anomalies pertaining to accounting related with sub-contractors in the company's Kiratpur Ner Chowk (KNC) Road in the states of Punjab and Himachal Pradesh. IECCL was doing this...

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The second wave of COVID-19, followed by lock-downs in various states, has caused a mammoth business loss of around Rs15 lakh crore to India's domestic trade over the last 60 days, the Confederation of All India Traders (CAIT) said on Wednesday.   CAIT, which represents traders across...

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The expansion of the Emergency Credit Line Guarantee Scheme (ECLGS) announced by the government on May 30, will help companies in sectors such as civil aviation, hotels and tour operators, where demand has been severely affected by the intense second wave of the Covid-19 pandemic, Crisil said...

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The Chairman and Managing Director (CMD) of Reliance Industries Limited, Mukesh Ambani, has said that the strong balance sheet and high liquidity available with the oil-to-telecom giant will support its growth plans for Jio, Reliance Retail and its oil-to-chemical (O2C)...

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