Renault-Nissan fights court battle with its plant workers
Sun, May 23, 2021 3:02 PM

Renault-Nissan fights court battle with its plant workers

Renault-Nissan told an Indian court that production will be continued at its car plant to meet orders, setting aside concerns of an employee union that alleged COVID-19 safety protocols were being ignored at the factory, legal filings show. Renault-Nissan India and plant workers in the southern state of Tamil Nadu have been locked in a legal fight after workers petitioned to stop operations.

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Foreign investors withdrew Rs 4,444 cr in May so far
Sun, May 23, 2021 2:24 PM

Foreign investors withdrew Rs 4,444 cr in May so far

Overseas investors withdrew Rs 4,444 crore from Indian markets in May so far due to rising concerns over the second wave of the coronavirus pandemic and its possible impact on the Indian economy. As per depositories data, foreign portfolio investors (FPIs) took out Rs 6,370 crore from equities but induced only Rs 1,926 crore in the debt segment between May 1-21.

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More MSMEs get CMERI’s technology to increase production of OEU devices
Sun, May 23, 2021 2:16 PM

More MSMEs get CMERI’s technology to increase production of OEU devices

Central Mechanical Engineering Research Institute (CMERI), which has built an Oxygen Enrichment unit (OEU) – a decentralized oxygen generation solution to help Covid patients in oxygen need, has shared its technology with three more MSMEs to increase production of such OEUs. Three MSME's are Conquerent Control Systems in Gurugram, A B Elasto Products, and Automation Engineers in Kolkata.

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CII commended RBI's audit quality and governance process
Sun, May 23, 2021 2:07 PM

CII commended RBI's audit quality and governance process

The CII, on May 23, praised RBI's intent of working towards intensified audit quality and governance process. The CII said that the process was critical and fundamental to trust and credibility of the capital market. A one-year cool-off period before the appointment for the auditors’ independence is not feasible to implement, it said.

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‘Clean Data Room' open for BPCL bidders
Sun, May 23, 2021 1:04 PM

‘Clean Data Room' open for BPCL bidders

Bidders who compete to buy government stake in Bharat Petroleum Corporation Ltd (BPCL) will be allowed to access a 'Clean Data Room' containing commercially sensitive information on the firm subject to their signing an additional confidentiality agreement. A virtual data room mainly has financial information on BPCL, was opened in the second week of April, and qualified bidders were given access.

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Nine out of top 10 cos raise Rs 2.41 lakh cr in market cap
Sun, May 23, 2021 12:18 PM

Nine out of top 10 cos raise Rs 2.41 lakh cr in market cap

Nine of the 10 most valued companies added Rs 2,41,177.27 crore in market valuation together last week, the 30-share BSE benchmark Sensex jumped 1,807.93 points or 3.70% From the top-10 list, only Hindustan Unilever Ltd (HUL) saw a decline whereas HDFC Bank, Reliance Industries topped the list, followed by Bajaj Finance, TCS, HDFC, Kotak Mahindra Bank, Infosys, ICICI, and SBI Bank.

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L&T boost efforts to retain workforce post Covid-19 second wave
Sun, May 23, 2021 12:03 PM

L&T boost efforts to retain workforce post Covid-19 second wave

Engineering and construction major Larsen & Toubro (L&T) have strengthened its efforts to retain its workforce after the COVID-19 outbreak. The company said it has been able to retain almost 70% of its 2,45,000 contract labourers at its various project sites to work for medical care facilities and other support measures during the ongoing pandemic.

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RBI surplus transfer to Centre expected to impact economy
Sun, May 23, 2021 10:22 AM

RBI surplus transfer to Centre expected to impact economy

Banking stocks that led the rally on May 21 would be noticed in the coming week as well after the Reserve Bank of India (RBI) said that it would transfer a surplus of Rs 99,122 crore to the government for the nine-month accounting period ended March 31. The S&P BSE Bankex who led the charge on May 21 brings over 7% for the week ended on May 21 compared to nearly 4% gains last year.

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Adani adds more billions to his wealth than 19 rich peers
Sun, May 23, 2021 10:12 AM

Adani adds more billions to his wealth than 19 rich peers

Industrialist Gautam Adani adding billions to his personal wealth in 2021 than 19 other Indian billionaires together! Among the 20 Indian billionaires on Bloomberg Billionaire Index, Adani's fortunes grew by $35.2 billion in 2021 so far, as compared with a $24.5 billion addition in the combined wealth of 19 other Indian billionaires. Worth $69 billion, Adani is just behind the richest Ambani.

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Quick Service Restaurants eyes robust growth as COVID-19 eases
Sun, May 23, 2021 9:55 AM

Quick Service Restaurants eyes robust growth as COVID-19 eases

The Quick Service Restaurants (QSRs) have gained a major market share in a short period. They were the first ones to quickly resume their service last year when the restrictions were lifted. And most likely, the trend will repeat itself this year as well once the COVID-19 wave calms down. India's organized food services market is expected to grow at about 10.5% CAGR to $37 billion over FY2020-25E.

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Sale of Farmhouses significantly increased during COVID-19
Sun, May 23, 2021 9:48 AM

Sale of Farmhouses significantly increased during COVID-19

Real Estate is seeing a switch in customer preferences, particularly among the HNIs. The raging pandemic moved them to buy properties outside metros with a lot of green areas, especially farmhouses. The demand has more than doubled in the last 12-18 months with prices of such properties gradually inching upwards in Dehli NCR, India Sotheby’s International Realty (SIR) CEO Amit Goyal said.

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Godrej Industries records Q4 net loss at Rs 92 crore
Sun, May 23, 2021 9:39 AM

Godrej Industries records Q4 net loss at Rs 92 crore

Godrej Industries Ltd on Friday posted a consolidated net loss of Rs 92.22 crore for Q4 March 2021. The company had revealed a net profit of Rs 103.39 crore in the January-March period a year ago, Godrej Industries said in a BSE filing. Its revenue from operations stood at Rs 2,610.69 crore during the quarter. It was Rs 3,120.67 crore in the corresponding quarter last fiscal 2020.

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Shoppers Stop posted Q4 net loss at Rs 24.10 crore
Sun, May 23, 2021 9:35 AM

Shoppers Stop posted Q4 net loss at Rs 24.10 crore

Retail chain Shoppers Stop Ltd on Friday disclosed its consolidated net loss narrowed to Rs 24.10 crore for the Q4 ended March 2021. The company had declared a net loss of Rs 127.22 crore in the January-March quarter a year ago, Shoppers Stop said in a regulatory filing Its total income declined 3.7% to Rs 704.70 crore during the period under review as against Rs 731.76 last year.

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Power Grid Corporation board allowed investments worth Rs 2,202 cr
Sat, May 22, 2021 10:15 PM

Power Grid Corporation board allowed investments worth Rs 2,202 cr

State-run Power Grid Corporation of India Ltd (PGCIL) told that its board has permitted investments of Rs 2,202 crore for various power transmission projects. The Board of Directors and Committee of Directors on Investment on Projects, in their respective meetings held on May 21, given approvals to the investments, it said in a BSE filing. The project will be commissioned from Dec 202 to Sep 2022.

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Minda Industries board permits acquisition of 27.55% stake in CSE Dakshina
Sat, May 22, 2021 10:03 PM

Minda Industries board permits acquisition of 27.55% stake in CSE Dakshina

Minda Industries board approved the acquisition of 27.55% stake in CSE Dakshina Solar Pvt Ltd for Rs 27 lakh, on Saturday. "The board permitted the acquisition of 33,750 equity shares of CSE Dakshina Solar Pvt Ltd of face value of Rs 10 each at a premium of Rs 70 i.e. Rs 80 per share, aggregating to Rs 27,00,000," Minda said in a BSE filing. With this, the company will hold 27.55% of the stake.

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