Ashok Leyland, flagship company of the Hinduja group, on Monday announced a slew of initiatives to manufacture and distribute ventilators.

Credit risk funds have seen assets decline by nearly Rs 19,000 crore in April as investors rushed to redeem their money after the closure of six debt schemes by Franklin Templeton Mutual Fund, data showed.

Consumer goods major Marico posted a 3% year-on-year (y-o-y) decline in net profit to Rs 204 crore for the quarter ended March 31, while the revenue from operations, at Rs 1,496 crore, declined 7% y-o-y.

The decision was taken after the state agriculture department approached the Central Institute of Cotton Research (CICR), Nagpur, seeking advice against the backdrop of the Covid-19 pandemic affecting the country.

Over 200 companies in Pune’s industrial belt of Chakan, Talegaon, Kurkumb, Baramati and Ranjangaon have resumed operations after restrictions were eased on Monday, even as the lockdown continues.

Despite the Gujarat government’s order to pay salaries to workers during lockdown period, lakhs of diamond artisans in Surat have not been paid their wages by their employers, said Diamond Workers Union – Gujarat.

Hobbled by a shortage of workers, companies are finding it hard to resume operations at an optimal scale and with migrants moving back home, it could be a while before factories hum with activity.

The Rs 75,000-crore paper industry, which has resumed production after relaxations were issued effective from April 15, may have a negative growth in the first quarter of this fiscal as demand lost in this lockdown cannot be compensated entirely.

Adani Enterprises (AEL), the parent company for the group’s airports and renewable energy businesses, is covered for 12 months of payments amid the lockdown-related economic disruptions, the management said.

SBI’s focus on the insurance business during a challenging year and SBI Life’s technology push to improve digital agent and client engagements remain crucial.

Suvarna Jagtap, chairperson, Lasalgaon Agriculture Produce Market Committee (APMC), told FE that three cases of coronavirus were reported at Lasalgaon at a distance of 3 km from the main market yard.

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Existing contracts will need careful analysis and strategies for renegotiation if needed.

While DronaMaps is helping map Covid-19 patients in Haryana and other states, Blinkin has provided remote tech support for installing air ventilation systems in two Wuhan hospitals

Passenger traffic for carriers is expected to register de-growth of 20-25% in FY21, CARE Ratings has said.

After a fiscal that saw the pace of work slowing down, a first for the NDA govt, FY21 is likely to be impacted by Covid-19 and its aftermath.

Going forward, price trends would be a function of demand. Both domestic and exports demand will be key determining factors affecting price trends.

IIL is already working with Griffith University for conducting R&D of Zika virus vaccine which is currently at pre-clinical toxicology testing stage.

This is the most crucial time to leverage the power of exponential technologies, especially cloud. Any organisation that is still in two-minds about moving to the cloud; needs to embark on a cloud adoption process immediately.

OTT platforms do have a buffer in their libraries but delayed production schedules will hit revenues.

Sectors such as healthcare, pharmaceuticals, grocery and warehouses would call for additional talent with new skill-sets.

West Bengal chief minister Mamata Banerjee has allowed resuming operations in the gardens of Darjeeling, Doars and Terai with a workforce of 25%.

Startups must maintain their financial health by conserving cash, cutting down on costs and renegotiating their existing contracts.

Easing financial burden, preventing project failures and protecting jobs are a must if sector’s to preserve its health.

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The ministry could have set a target of removing the huge burden and could have kept coal at exposed seams. As and when required coal could be extracted out of the seams.

The official also said as the social distancing norms will remain in effect in near future, it has to start conducting its discussions and other work online.

The Indian rupee weakened by 31 paise to 62.64 against the US dollar today at the Interbank Foreign Exchange on month-end demand for the...

With the rising smartphone and tablet penetration, the mobile gaming industry is expected to touch Rs 2,620 crore by 2019, with a year-on-year growth of 20 per cent...

BSE Sensex slipped by 214 points to end at 27,011.31, while NSE Nifty ended below the 8,200-mark.

BSE Sensex tanked 723 pts, its second biggest single day fall since Narendra Modi govt took over; Salman Khan, GST, others field the blame.

Under the scheme, Strides shareholders will get 1 share of SSL for every 6 shares of Strides while Sequent shareholders will get 1 share of SSL for 25 shares of Sequent.

The promoters of the movie claim that it would be the costliest Indian movie and made in Hollywood style with technicians sourced globally.

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The offer at `275 per share is 17.6% less than its closing price of `334 on Monday.

Aggregate recast loans worth around Rs 50,000 crore (Rs 49,332 crore) failed at the corporate debt restructuring (CDR) cell in FY17, taking total failures since the inception of the cell in 2001 to Rs 1.37 lakh crore.

The initial public offering of Central Depository Services (CDSL) was subscribed by 2.09 times on Monday, the first day of its offering with investors bidding for 5.19 crore shares against 2.48 crore shares reserved.

Investors in ACC have reason to cheer as volume posted double digit growth in Q2CY17, up 10% y-o-y, after a gap of >5 years and is set for ~10% jump in CY17, on low base of ~9% dip in H2CY16.

Kuldeep Yadav performed brilliantly in the first T20 against the Windies to ensure India registered a comfortable win over the visitors.

Opec, Russia and other non-Opec producers — an alliance known as Opec+ —agreed to reduce supply by 1.2 million bpd from January 1.

As per SOPA estimates, the actual area in Maharashtra is 36.390 lakh hectare, which is 10% less than the government estimates of 40.433 lakh hectare. Soyabean output in Maharashtra is estimated to rise by 32% to 38.4 lakh tonne for this year.

Management continues to focus on liquidating Rs 12,300-crore inventory and scaling up the rental portfolio (DCCDL). We maintain earnings estimates for the erstwhile merged entity (despite demerger of DCCDL) awaiting greater clarity on adjustments/reconciliation between DLF and DCCDL numbers (post-demerger).

Overseas subsidiary performance is expected to turn around which coupled with gradual improvement in domestic margins will enable improvement in the overall margins.

As APHS concludes its capex cycle and loss-making ventures breakeven, the stage is set for APHS to double Ebitda and reduce capex to one-third over FY19–21.

The bank has witnessed asset quality weakening further in December quarter with the gross non-performing assets (NPA) as of December 2018 increasing to Rs 4,056 crore (8.49%) compared to Rs 2, 663 crore (5.95%).

Fino Payments Bank aims to break even in the next 18-24 months, executive vice president and head-products & alliances Ashish Ahuja tells Mitali Salian.

he bank said it has purchased loans aggregating Rs 19.24 billion through the direct assignment route under the home loan arrangement with Housing Development Finance Corporation, during the quarter ended March this year.

VEDL’s H2FY19 operating numbers were mixed. Key highlights, O&G production fell 2% due to natural decline at Mangla field, though gas volumes were better; production at Zn-India was lower due to geo-technical problems at RA mine and FY19 silver volumes missed 650-700t guidance.

The initial price guidance stood at 210 bps over the US Treasury. The bank indicated that with 3.5 times over-subscription, the final price tightened by 25 bps.

CAI’s current estimates for the North Zone, Madhya Pradesh, Telangana and Andhra Pradesh are lower by 1 lakh bales each compared to its previous month estimate.