COMPANIES & SECTORS


In yet another EV fire incident, an Okinawa autotech dealership burnt down to ashes in Tamil Nadu owing to a reported fire in an e-scooter belonging to the company.   Electric two-wheeler manufacturer Okinawa had recalled 3,215 units of its 'Praise Pro' scooters on April 16, just...

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Moneylife Digital Team 16 April 2022
CARE Ratings Ltd says the justice BN Srikrishna (retd) panel has given a clean chit to its erstwhile managing director (MD) and chief executive officer (CEO) Rajesh Mokashi and former chairman SB Mainak in a case related to influencing ratings. In February 2020, the Securities and Exchange...

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Regional airline Alliance Air has become an independent business unit under the Central government's control.   Alliance Air was an esrtwhile part of Air India prior to the latter's divestment. At present, it is operated as a division under the Air India Asset Holdings Pvt Ltd...

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Moneylife Digital Team 14 April 2022
The world's largest cement-maker Holcim has put up for sale Ambjua Cement Ltd and ACC Ltd, its two listed companies in India and may exit the country, say media reports. Switzerland-based Holcim's unit Holderind Investments Ltd owns a 63.19% stake in Amubja Cement. Holderind Investments also...

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Automaker Maruti Suzuki is currently focused on the CNG segment to fulfil the demand triggered by rising petrol prices as well as heightened concerns over environmental protection.   The automobile major also plans to foray into the EV segment by 2025.   In a conversation with...

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Moneylife Digital Team / IANS 11 April 2022
The Supreme Court (SC) on Monday stayed the National Company Law Appellate Tribunal's (NCLAT) order which ruled a stipulation in the DHFL (Dewan Housing Finance Corporation Ltd) resolution plan as 'illegal' on recovery of avoidance transactions.   Issuing a notice on appeals filed by...

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Serious differences have emerged between the Reliance Capital (R-Cap) administrator and its committee of creditors (CoC), and their respective advisers, over the resolution process of company's different subsidiaries/ clusters which are on the block.   Over 50 bidders have submitted...

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Moneylife Digital Team 11 April 2022
Corporate profitability, or the average earnings before interest, taxes, depreciation and amortisation (EBITDA) margin, likely declined 200-300 basis points (bps) on year and 40-60 bps sequentially in the fourth quarter (Q4) of fiscal 2022, CRISIL's analysis of over 300 companies, excluding...

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In a latest development in the National Stock Exchange (NSE) co-location (Colo) scam involving its former CEO (chief executive officer) Chitra Ramkrishna and others, the Enforcement Directorate (ED) on Friday conducted search operation at nine different locations in Haryana's...

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International Holding Company PJSC (IHC), the Abu Dhabi-based conglomerate, will invest $2 billion as primary capital in three Adani portfolio companies -- Adani Green Energy, Adani Transmission and Adani Enterprises.   IHC was founded in 1998, as part of an initiative to diversify...

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Edtech platform Unacademy, which laid off nearly 600 employees, contractual workers and educators - about 10 per cent of its 6,000-strong workforce across the group - said on Friday that it is focused on becoming profitable by the end of the fourth quarter (Q4) this year in its core business,...

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Moneylife Digital Team 07 April 2022
After showing substantial losses for two financial years, Mother Dairy Fruit and Vegetables Ltd (Mother Dairy or MDFVPL), a subsidiary of the National Dairy Development Board (NDDB), has suddenly reported a huge profit for FY20-21. Similarly, NDDB Dairy Services (NDS), another unit of NDDB,...

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The government on Thursday said that due to the reverse migration of labourers, including construction workers, to their native places during the pandemic and break in the supply chains of construction material, construction activities of real estate projects across the country were adversely...

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Moneylife Digital Team 06 April 2022
Three funds managed by Invesco's developing markets investment team, including Invesco Developing Markets Fund, have decided to sell up to 7.8% of their stake in Zee Entertainment Enterprises Ltd (Zee). While reducing its stake to 11%, Invesco reaffirmed its support for the merger of Zee with...

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A bench headed by Chief Justice N.V. Ramana on Wednesday said it hopes it does not have to hear this case again, while noting that Amazon and Future Retail Limited (FRL) will move the arbitration tribunal to resume arbitration proceedings.   The top court added that the tribunal will...

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The Competition Commission of India (CCI) on Monday ordered a thorough investigation into the conduct of online food delivery platforms Zomato and Swiggy which are allegedly involved in delayed payment cycle and exorbitant commissions.   Following a complaint from the National...

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Amazon and Future Retail Ltd (FRL) on Monday informed the Supreme Court that they wish to appear before the Singapore International Arbitration Centre in connection with the pending adjudication of arbitration proceedings before it.   A bench headed by Chief Justice N.V. Ramana and...

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Moneylife Digital Team 04 April 2022
In March, fleet utilisation trended at the level seen the month before, with improving utilisation of cement and mining products, largely coal, negated by lower utilisation levels of loose goods and textiles. For bulk commodities such as steel, auto-carriers and petroleum tankers, utilisation...

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Moneylife Digital Team 01 April 2022
CRISIL Ratings' credit ratio of upgrades to downgrades increased to 5.04 times in the second half (H2) of fiscal 2022, compared with 2.96 times in the first half (H1), underscoring continuing improvement in the performance of India Inc. Despite pressures, the rating agency says India Inc.'s...

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Kalanithi Maran and KAL Airways on Thursday reiterated before the Supreme Court that SpiceJet's offer of Rs 300 crore towards full and final settlement of share transfer dispute was not acceptable, noting that as per the arbitral award, it has to pay Rs 995 crore.   Senior advocate...

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