COMPANIES & SECTORS


Moneylife Digital Team 12 August 2021
Cash losses of power distribution companies (discoms) will remain elevated at around Rs46,000 crore this fiscal, or 40% higher than the Rs33,000 crore seen in the pre-pandemic levels of fiscal 2020, due to limited tariff hikes and high interest outgo, says a research note.    In a...

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The country's apex hospitality body, the Federation of Hotel & Restaurant Associations of India (FHRAI) has expressed disappointment that a Rs 60,000 crore package announced in June by Union Finance Minister Nirmala Sitharaman has yet to be notified by the Centre.   In a...

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Billionaire Mukesh Ambanis Reliance Industries is weighing a bid for Deutsche Telekom AG's Netherlands subsidiary, according to people familiar with the matter, Bloomberg reported.   The Indian conglomerate is working with an adviser to evaluate an offer for T-Mobile Netherlands, the...

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Amazon and Catamaran have decided not to renew their joint venture, Prione Business Services Pvt Ltd beyond May 19, 2022.   The joint venture has been running successfully for the past seven years and is coming up for renewal on May 19, 2022.   "The two partners today...

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Moneylife Digital Team 06 August 2021
In a big win for Amazon, the Supreme Court on Friday ruled that the emergency award passed under the Singapore International Arbitration Centre (SIAC) rules can be enforced in India under the Arbitration and Conciliation Act 1996. With this ruling from the SC, the transaction between Future...

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The Enforcement Directorate (ED) has issued notices to Flipkart, its founders and nine others in connection with foreign exchange violation case, officials said on Thursday.   A senior ED official related to probe told IANS, "Yes, a notice has been issued to Flipkart, its founders and...

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Automobile major Maruti Suzuki's production will be partially impacted in August due to semiconductor shortages.   On Wednesday, the auto major, in a regulatory filing to the BSE, said that the company has been informed by its contract manufacturer -- Suzuki Motor Gujarat -- that...

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The Rajya Sabha on Wednesday cleared the 'Limited Liability Partnership Amendment Bill' that aims to accelerate the 'Ease Of Doing Business' campaign of the government and brings regulations for this segment at par with other large companies.   The bill was earlier cleared by the Lok...

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Kumar Mangalam Birla has stepped down as the Non-Executive Director and Non-Executive Chairman of the Board of Vodafone Idea Ltd.   In a regulatory filing, the company said that the company has accepted the request of Birla to step down.   "The Board of Directors of Vodafone...

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Moneylife Digital Team 04 August 2021
While dismissing a special leave petition (SLP), the Supreme Court has upheld that the online fantasy sports format offered by Dream11 is game of skill. The SLP has alleged that the online fantasy sports (OFS) format offered by Dream11 amounted to gambling, wagering and betting and is not a...

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India has till date operationalised 361 air routes under the regional connectivity scheme 'Ude Desh Ka Aam Nagrik' or RCS-Udan.   The scheme was launched in 2016. Under it, airlines are provided with a 'Viability Gap Funding' to keep fares affordable and accessible.   "Till...

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A difficult decision awaits Vodafone Idea after one promoter, Kumar Mangalam Birla offered to give up his stake.   The Modi government, where the matter now rests, will have to take a tough call on a possible merger with BSNL which is already in financial problems or do a fire sale a...

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Moneylife Digital Team 03 August 2021
Crisis-ridden IL&FS has recovered around Rs 33.28 crore by selling assets, including vehicles, furniture, and electrical installations among others.   IL&FS Group had identified a total of 38 luxury vehicles within the group, which had a purchase price value of Rs 25 lakh and...

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Moneylife Digital Team 02 August 2021
Residential market in terms of sales witnessed a decline, while prices remain stagnant during the June 2021 quarter, says Liases Foras in its 'Residential Real Estate Market Report Q1 2021-22’.   Liases Foras, a non-broking real estate research and analytics company, says, "During...

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Automobile companies registered an increase in their sales for July 2021 on a year-on-year basis, largely on the back of lower sales in July 2020 when the country was significantly hit by the first wave of Covid-19 and several parts were still under lockdown.   Maruti Suzuki India...

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 Videocon Group's former promoter, Venugopal Dhoot, has moved the National Company Law Appellate Tribunal (NCLAT) against the NCLT's approval to the bid of Twinstar Technologies for Videocon Industries Ltd.   Along with the plea to set aside the resolution plan of Vedanta Group firm...

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Moneylife Digital Team 30 July 2021
The enforcement directorate (ED) has provisionally attached Bed and Breakfast hotel in London worth Rs58.61 crore as part of its ongoing investigation into a money laundering case against Unitech group. This hotel is owned by Ibournshorne Ltd, a UK-based associate company of Carnoustie...

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Moneylife Digital Team 30 July 2021
The proposed transfer of Jubilant Pharma Ltd's active pharmaceutical ingredients (API) business to its parent—Jubilant Pharmova Ltd (JPHL) will not affect JPL's ratings, says Fitch Ratings.   In a report, the ratings agency says, "We currently assess JPHL's credit profile to be weaker...

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Moneylife Digital Team 29 July 2021
Union power minister RK Singh on Thursday contradicted his own data. While replying to a question, the minister stated that there was no sharp rise in the average spot power, but data submitted by him in the Lok Sabha shows the opposite.    Replying to a question, Mr Singh says, "It...

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MSME segment's credit demand has seen a sharp surge post-unlock exercise, a SIDBI-TransUnion CIBIL MSME Pulse report said.   The report showed a significant surge in credit demand post-unlocks after the first and second wave of the pandemic.   In March 2021, commercial credit...

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