COMPANIES & SECTORS


Moneylife Digital Team 21 October 2021
Regulated coal supplies to nonpower sectors and allowing participation of captive miners amid an increase in production by the critical supplier - Coal India - may help corporate India avoid what appeared to be a major power crisis in the making until recently. However, the threat still looms...

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Moneylife Digital Team 21 October 2021
The Bombay High Court on Thursday asked Zee Entertainment Enterprises Ltd (ZEEL) to call an extraordinary general meeting as requested by Invesco Developing Markets Fund (Invesco) and OFI Global China Funds, the largest shareholders in the company.    However, the HC says that the...

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After facing criticism for allegedly copying popular products and manipulating search results to boost its own brands, especially in India, Amazon has now announced a new tool that will help third-party sellers with detailed insights into what customers are searching for, clicking on, and...

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Moneylife Digital Team 20 October 2021
The production linked incentive (PLI) scheme has given a much-needed booster dose to flailing capital expenditure (capex). Without it, capex would have likely taken nearly two years to touch pre-pandemic levels. The actualisation of the scheme will result in aggregate industrial capex rising...

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Moneylife Digital Team 18 October 2021
As many as 31 companies, including 16 micro, small and medium enterprises (MSMEs) and 15 non-MSMEs comprising eight domestic and seven global companies, have received approval under the production linked incentive (PLI) scheme of the department of telecommunications (DoT).    Eligible...

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Moneylife Digital Team 16 October 2021
The government has decided to convert the Ordnance Factory Board (OFB) from a department, into seven fully government-owned corporate entities to improve self-reliance on the country's defence preparedness. The seven new defence companies that have been incorporated are Munitions India...

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PNB Housing Finance has terminated the Rs4,000 crore deal with US-based Carlyle group for a preferential allotment.   "The Board's primary objective is to raise capital to support the growth of the Company, and the Board believes that the current situation is not in the best interests...

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After facing protests and social media storm over pay parity and working conditions, online home services provider Urban Company (formerly UrbanClap) on Thursday announced to slash the commission it charges from beauty service professionals from 30 per cent to 25 per cent.   The...

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Moneylife Digital Team 14 October 2021
Curtailed production due to semiconductor shortages heavily dented India's domestic passenger vehicle sales on a year-on-year (y-o-y) and sequential basis in September. Further, challenges about high operating and ownership costs due to rising fuel and commodity prices subdued buyers'...

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Moneylife Digital Team 13 October 2021
Invesco Developing Markets Fund (Invesco), in a statement, has revealed that it was the Reliance group that was keen on a deal with Zee Entertainment Enterprises Ltd (ZEEL) – a fact hidden by the founding group in the charges levelled on Tuesday in the ongoing war between the company and its...

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Moneylife Digital Team 12 October 2021
TPG Rise Climate and Abu Dhabi’s ADQ will invest Rs 7,500 crore (around US$1 billion) in Tata Motors' new subsidiary which will make electric vehicles (EV). The investment values 'TML EV Co' close to US$9.1 billion. The investment will be done through a compulsory convertible instrument to...

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Ranganathan V Ranganathan V 12 October 2021
“Mr JRD Tata would have been overjoyed if he was in our midst today,” Ratan Tata, chairman emeritus, Tata group was quoted in the media, announcing the Tata group’s Rs18,000 crore winning bid to regain Air India after a hiatus of 68 years.   JRD Tata would have been a ripe old soul of...

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Moneylife Digital Team 11 October 2021
In an open letter to all the 250,000 shareholders of Zee Entertainment Enterprises, on Monday, Invesco Developing Markets Fund, the largest shareholder of Zee, raised several questions over the company's merger proposal with Sony Pictures saying that the transaction is not in the best...

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The board of beleaguered infrastructure financier IL&FS has approved the appointment of CNK & Associates LLP as the statutory auditor in casual vacancy for FY 2020-21.   Its appointment as official auditor of the company for FY22 was confirmed by the IL&FS board post the resignation...

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Moneylife Digital Team 11 October 2021
More than 100 women working with Urban Company (UC) as beauticians went on strike on Friday against low wages, high commissions collected by the company and unsafe working conditions for them. There were messages and videos of the strike posted on social media. Urban Company also put out...

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Moneylife Digital Team 11 October 2021
Reliance Industries Ltd (RIL), through its unit Reliance New Energy Solar Ltd (RNESL), is rapidly expanding its footprints through acquisitions and stake buys. Reliance New Energy bought REC Solar Holdings AS (REC Group) from China National Bluestar (Group) Co Ltd for an enterprise value of...

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Moneylife Digital Team 08 October 2021
The Union government is selling the national carrier Air India to Tata Sons for Rs18,000 crore, department of investment and public asset management (DIPAM) secretary Tuhin Kanta Pandey announced this afternoon.. This puts an end to the prolonged attempts to sell and turnaround the airline by...

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The privatisation plan of public sector oil refiner Bharat Petroleum Corporation Ltd may get expensive for the investors as the new owners are unlikely to get regulatory exemption to participate in open offer of two other entities - Petronet LNG Ltd (PLL) and Indraprastha Gas Ltd...

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Piramal Enterprises Limited (PEL) has proposed to demerge its pharmaceutical business as part of simplification of the corporate structure.   The board of directors of PEL on Thursday approved a composite scheme of arrangement providing for this demerger that will create two...

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Moneylife Digital Team 07 October 2021
Total vehicle sales during September this year decreased 5.3% on a year-on-year (y-o-y) basis; however, when compared the monthly sales with the pre-COVID period, overall retails continue to fall by 13.50%, says Federation of Automobile Dealers Associations (FADA).   In a release,...

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