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Showing posts from March, 2020

Zen Technologies to develop ventilator prototype for India to fight COVID-19

"As a part of the corporate social responsibility... Zen Technologies has dedicated a small research and development team to develop a prototype of a ventilator for India," the company said. from Moneycontrol Business News https://ift.tt/2UAxokC

Honda commits Rs 11cr for fight against COVID-19

As part of the initiative, Honda will immediately supply 2,000 units of high pressure backpack sprayers to various government agencies. from Moneycontrol Business News https://ift.tt/3dLb7YM

SpiceJet says some employees will get salaries in 2 parts

According to a senior official in SpiceJet, there were some employees who had got just a few thousand rupees in their bank accounts from the company as salary till now. from Moneycontrol Business News https://ift.tt/2wVFlYi

Yes Bank raises Rs 3,500cr from sale of certificate of deposits to two PSU banks: Report

The process was completed within three working days from Moneycontrol Business News https://ift.tt/2xCEtrF

Maruti Suzuki March sales at 83,792 units

The company ended FY 2019-20 with total sales of 15,63,297 units. from Moneycontrol Business News https://ift.tt/2UyZCvU

MG Motor sells 1,518 units in March

"Both MG Hector and MG ZS EV have made a mark in the Indian car market. Despite supply chain disruption globally, MG Motor continues to serve its customers. from Moneycontrol Business News https://ift.tt/2w2ZTxG

Biocon#39;s insulin manufacturing facility in Malaysia gets EIR with VAI classification From USFDA

In a regulatory filing the company said, Biocon Sdn Bhd, a subsidiary of Biocon Ltd has received the EIR from the USFDA for the Pre-Approval Inspection (PAI) of its insulin manufacturing facility in Malaysia, for Insulin Glargine. from Moneycontrol Business News https://ift.tt/3azKKTG

Coronavirus pandemic | Call charge waivers to hit telecom revenues by 1-1.5%

Telcos could each take a 1-1.5% one-time hit on revenue if they waive call charges for migrant labourer users. from Moneycontrol Business News https://www.moneycontrol.com/news/business/coronavirus-pandemic-|-call-charge-waivers-to-hit-telecom-revenues-by-1-15_13632801.html

Coronavirus pandemic | Retailers begin bulk deliveries to RWAs in some cities: Report

During 21-day nationwide lockdown, retailers can sell only essential items identified by the government. from Moneycontrol Business News https://www.moneycontrol.com/news/business/coronavirus-pandemic-|-retailers-begin-bulk-deliveries-to-rwassome-cities-report_13632701.html

Govt slashes interest on PPF, NSC and other small savings schemes - here are the new rates

Interest rates on PPFs for the first quarter of FY20-21 have been cut by 80 bps to 7.1 percent. from Moneycontrol Business News https://ift.tt/2UOIUHO

SC urges media not to disseminate unverified news that causes panic

"We do not intend to interfere with the free discussion about the pandemic, but direct the media refer to and publish the official version about the developments," the apex court order said. from Moneycontrol Business News https://ift.tt/33YRCaw

Coronavirus pandemic | Canara Bank, IDBI Bank offer customers moratorium on term loans

The Reserve Bank of India (RBI) on March 27 said all financial institutions can provide a three-month deferment on payments of instalments for all term loans that were outstanding as on March 1 from Moneycontrol Business News https://www.moneycontrol.com/news/business/coronavirus-pandemic-|-canara-bank-idbi-bank-offer-customers-moratoriumterm-loans_13630161.html

Coronavirus pandemic: Air India pilots complain of flimsy PPE, lack of insurance cover against COVID-19

Two pilot associations write to Civil Aviation Minister Hardeep Singh Puri, airing concerns. from Moneycontrol Business News https://ift.tt/2UPKDN1

Confusion prevails among borrowers over three-month moratorium as many get EMI reminders

Many borrowers, credit cardholders and mutual fund investors have received SMSes from their lenders reminding them that they need to maintain sufficient balance on the due date. Among others, such messages have been received by people who have taken personal, auto and home loans. from Moneycontrol Business News https://ift.tt/3arEWLT

SpiceJet to cut 10-30% salary of all employees in March

"SpiceJet management has decided to implement a pay cut between 10-30 percent in March across our employee base. Our Chairman and Managing Director (Ajay singh), in fact, has opted for the highest cut of 30 percent in compensation," the airline said in the communication. from Moneycontrol Business News https://ift.tt/3dNqekD

Coronavirus pandemic | PFC pledges Rs 200 cr under PM-CARES Fund to fight COVID-19

PFC#39;s employees will voluntarily contribute a day#39;s salary to the fund to further strengthen the nation#39;s fight against the dreaded disease, a company statement said. from Moneycontrol Business News https://www.moneycontrol.com/news/business/coronavirus-pandemic-|-pfc-pledges-rs-200-cr-under-pm-cares-fund-to-fight-covid-19_13630001.html

Coronavirus pandemic | Private sector should not cut jobs post-lockdown

"Besides pain for the employees, job and salary cuts would impede a quick recovery for businesses also," Rekha Sethi, Director- General, All India Management Association, told Moneycontrol. from Moneycontrol Business News https://www.moneycontrol.com/news/business/coronavirus-pandemic-|-private-sector-should-not-cut-jobs-post-lockdown_13629921.html

Coronavirus pandemic | MakeMyTrip launches #39;Stays for Saviours#39; initiative to support healthcare providers

"This initiative has been rolled out in partnership with hotel chains and independent hotels that are pitching in to support our healthcare heroes across 26 states and 4 Union Territories", MakeMyTrip said in a statement. from Moneycontrol Business News https://www.moneycontrol.com/news/business/coronavirus-pandemic-|-makemytrip-launches-39stays-for-saviours39-initiative-to-support-healthcare-providers_13629861.html

Vodafone Idea offers prepaid validity extension for low-income feature phone subscribers

Telecom operator Bharti Airtel on Monday had announced an extension in the validity period of more than 8 crore pre-paid connections until April 17 as well as credited talk time of Rs 10 in these accounts. from Moneycontrol Business News https://ift.tt/2yjTQpf

Coronavirus pandemic | Top food companies to not raise product prices despite jump in costs: Report

Companies are facing supply chain disruptions due to the nationwide lockdown. from Moneycontrol Business News https://www.moneycontrol.com/news/business/coronavirus-pandemic-|-top-food-companies-to-not-raise-product-prices-despite-jumpcosts-report_13629601.html

Coronavirus pandemic | Govt appeals to top companies for contributions to PM-CARES fund

The corporate affairs ministry, which is implementing the Companies Act, has already clarified that contributions to the fund will qualify as CSR expenditure. from Moneycontrol Business News https://www.moneycontrol.com/news/business/coronavirus-pandemic-|-govt-appeals-to-top-companies-for-contributions-to-pm-cares-fund_13629501.html

SBI-led consortium approves Suzlon Energy’s Rs 14,000-cr debt restructuring plan

The company is working on finalising various definitive agreements with the lenders, it told BSE from Moneycontrol Business News https://www.moneycontrol.com/news/business/sbi-led-consortium-approves-suzlon-energy’s-rs-14000-cr-debt-restructuring-plan_13629401.html

Coronavirus impact: Companies launch hand sanitiser sachets for as low as Re 1

The sachets are launched with an aim to make it easily affordable and accessible largely in kirana stores. from Moneycontrol Business News https://ift.tt/2wSDnbl

Coronavirus pandemic | JSPL announces Rs 25 cr contribution to PM-CARES Fund

JSPL Foundation is providing food and other essential supplies to the local communities in the vicinity of its manufacturing locations. from Moneycontrol Business News https://www.moneycontrol.com/news/business/coronavirus-pandemic-|-jspl-announces-rs-25-cr-contribution-to-pm-cares-fund_13629341.html

Coronavirus pandemic | Now you may be allowed to defer date of journey beyond April 30 in your travel insurance

While IRDAI has asked insurers to provide this option, policy holders should check with their respective companies for the facility. from Moneycontrol Business News https://www.moneycontrol.com/news/business/coronavirus-pandemic-|-now-you-may-be-allowed-to-defer-datejourney-beyond-april-30your-travel-insurance_13629261.html

Coronavirus pandemic | Bharti Enterprises pledges over Rs 100 crore to support India#39;s fight against COVID-19

Pointing to the "extremely challenging times" and "biggest healthcare crisis of modern era in the form of COVID-19 epidemic", the company said that the immediate priority is to collectively support the efforts of the government to mitigate the impact of this crisis. from Moneycontrol Business News https://www.moneycontrol.com/news/business/coronavirus-pandemic-|-bharti-enterprises-pledges-over-rs-100-crore-to-support-india39s-fight-against-covid-19_13629221.html

COVID-19: How investors can put the market’s deep correction and the occasional bear market rally to good use

Investors should get out of weak positions taking advantage of a bear market rally and redeploy the cash in strong businesses that are likely to survive and grow once normalcy returns. from Moneycontrol Business News https://www.moneycontrol.com/news/business/covid-19-how-investors-can-putmarket’s-deep-correctionthe-occasional-bear-market-rally-to-good-use_13628161.html

BS6 Switchover | Last chance to avail hefty discounts on cars, SUVs and bikes

BS4 stocks are to become obsolete from April 1 onwards as India adopts BS6, the most advanced emission norm in the world from Moneycontrol Business News https://www.moneycontrol.com/news/business/bs6-switchover-|-last-chance-to-avail-hefty-discountscars-suvsbikes_13628421.html

Shapoorji Pallonji Group looking to pledge 18.4% stake in Tata Sons for $1 billion: Report

Talks are in early stages, but the Tata Sons stake is their biggest asset and the Shapoorji Group needs to infuse significant capital into their businesses. from Moneycontrol Business News https://ift.tt/2UvfiAk

Covid-19: Apollo teams up with OYO, Lemon Tree, Ginger Hotels to create 5,000 isolation rooms

Joining hands with partners including HUL, SBI and OYO, Apollo Hospitals plans to scale this capacity to up to 5,000 rooms where patients can stay in isolation. from Moneycontrol Business News https://ift.tt/3dBeYHT

COVID-19: How investors can put to good use the market’s deep correction and the occasional bear market rally

Investors should get out of weak positions taking advantage of a bear market rally and redeploy the cash in strong businesses that are likely to survive and grow once normalcy returns. from Moneycontrol Business News https://www.moneycontrol.com/news/business/covid-19-how-investors-can-put-to-good-usemarket’s-deep-correctionthe-occasional-bear-market-rally_13628161.html

BSNL, MTNL release over Rs 10,000cr for VRS employees

A total of 78,569 employees of BSNL and 14,387 staffers of MTNL have opted for the voluntary retirement scheme (VRS) which closed on December 3, 2019. from Moneycontrol Business News https://ift.tt/33XkjEL

Don#39;t see major impact on March quarter business due to coronavirus: HCL Tech

HCL Tech said it had invoked #39;Business Continuity Plan#39; and #39;Risk Management Framework#39; quite early to minimise the impact on its employees and clients, and added that its exposure to the more-impacted verticals is "not significant". from Moneycontrol Business News https://ift.tt/2wDeosz

Coronavirus pandemic | Lockdown could have $1 bn impact on ecommerce gross sales: Report

India is currently is a lockdown till April 14, during which e-tailers are permitted to sell only essential items. from Moneycontrol Business News https://www.moneycontrol.com/news/business/coronavirus-pandemic-|-lockdown-could-have-361-bn-impactecommerce-gross-sales-report_13625741.html

Coronavirus impact | Should the government come to the aid of airlines?

There is a case to help them. And there is one, not to. from Moneycontrol Business News https://www.moneycontrol.com/news/business/coronavirus-impact-|-shouldgovernment-come-toaidairlines_13625721.html

Tata Power starts commercial operations of Georgia hydro plant

Adjaristsqali Georgia - a joint venture between Tata Power, Norway#39;s Clean Energy Invest (CEI) and International Financial Corporation- is setting up a 187 MW of hydro project at a cost of around USD 500 million. It has now commissioned 178 MW of the total capacity. from Moneycontrol Business News https://ift.tt/2QXeOAG

In Pics | Here#39;s how corporate India is joining the fight against COVID-19

India#39;s corporate world has committed or donated more than Rs 2700 crore in direct and indirect aid to help fight the novel coronavirus (Covid-19). Here#39;s a look at all such major contributions from Moneycontrol Business News https://www.moneycontrol.com/news/business/in-pics-|-here39s-how-corporate-india-is-joiningfight-against-covid-19_13624641.html

USFDA classifies Sun Pharma#39;s Halol manufacturing site for official action, may put all new approvals on hold

The OAI status implies that the USFDA may put all new approvals from the Halol facility on hold till the outstanding corrective actions are completed. from Moneycontrol Business News https://ift.tt/3artekw

Coronavirus pandemic | Worried about pink slips, execs now ready to move jobs with pay-cut

Candidates are ready to take lower pay hikes or even cuts due to the looming threat of job losses from Moneycontrol Business News https://www.moneycontrol.com/news/business/coronavirus-pandemic-|-worried-about-pink-slips-execs-now-ready-to-move-jobspay-cut_13625421.html

Bank of Baroda cuts personal, retail loan rates by 75 bps to 7.25%

The BRLLR linked to RBI Repo Rate is revised downwards in line with the reduction on Reserve Bank of India Repo Rate from 5.15 percent to 4.40 percent, it said. from Moneycontrol Business News https://ift.tt/2wOJIo1

Lupin gets EIR from USFDA for Florida-based inhalation research centre

The facility was inspected by the US Food and Drug Administration (USFDA), between February 19, 2020, and February 26, 2020, on behalf of the UK Medicines and Healthcare Products Regulatory Agency (UKMHRA) for company#39;s application for generic Fostair. from Moneycontrol Business News https://ift.tt/2QXj1V7

Coronavirus pandemic | Mother Dairy mulls tie-up with e-commerce players to maintain milk supply: Report

Supply of milk is permitted during the nationwide lockdown, since it is one of the essential items identified by the Centre. from Moneycontrol Business News https://www.moneycontrol.com/news/business/coronavirus-pandemic-|-mother-dairy-mulls-tie-upe-commerce-players-to-maintain-milk-supply-report_13625221.html

Maruti Suzuki announces service, warranty extensions to support customers

"For customer vehicles, whose free service, warranty and extended warranty are scheduled to end in the period from March 15, 2020 to April 30, 2020 are now being extended up to June 30, 2020," MSI said in a statement. from Moneycontrol Business News https://ift.tt/3bzKNPl

LT announces Rs 150cr donation to PM-CARES Fund to fight COVID-19

LT joins a list of other corporates including Tata Group and Reliance Industries who have come forward to offer their support to fight this unprecedented crisis. from Moneycontrol Business News https://ift.tt/3bMto6n

HDFC Trustee Company buys 5.45% stake in SpiceJet

HDFC Trustee is a wholly-owned subsidiary of HDFC and trustee company of HDFC Mutual Fund. from Moneycontrol Business News https://ift.tt/2wCUrSI

ADB to invest $100 million in Indian infrastructure sector via NIIF

The Manila-based body will be investing in the National Investment and Infrastructure Fund#39;s (NIIF) “fund of funds” which will ensure that the actual money invested will be a few times more than the USD 100 million. from Moneycontrol Business News https://ift.tt/2vXnRdG

Zydus Cadila gets tentative nod from USFDA for Parkinson#39;s treatment capsule

The approval by the US Food and Drug Administration is for Carbidopa and Levodopa extended-release capsules in the strengths of 23.75 mg/95 mg, 36.25 mg/145 mg, 48.75 mg/195 mg, and 61.25 mg/245 mg, Cadila Healthcare said in a regulatory filing. from Moneycontrol Business News https://ift.tt/3auFYqm

Strides Pharma Science receives EIR for Bengaluru facility from USFDA

The inspection by the US Food and Drug Administration (USFDA) was related to specific extended release applications made from the site. Receipt of EIR confirms the successful closure of the inspections, Strides Pharma Science said in a regulatory filing. from Moneycontrol Business News https://ift.tt/3azrdms

In Pics: Here#39;s how corporate India is joining the fight against COVID-19

India#39;s corporate world has committed or donated more than Rs 2500 crore in direct and indirect aid to help fight the novel coronavirus (Covid-19). Here#39;s a look at all such major contributions from Moneycontrol Business News https://ift.tt/3dDYTB0

Gautam Adani gives Rs 100cr to PM Fund to fight coronavirus

"Adani Foundation is humbled to contribute Rs 100 crore to the #PMcaresfund in this hour of India#39;s battle against #COVID19," Adani tweeted. from Moneycontrol Business News https://ift.tt/3bwccS8