Tag Archives: Companies

Remembering Jack Bogle, colossus of the mutual fund industry

Vanguard founder Jack Bogle turned the mutual fund industry on its head more than 30 years ago by thinking of and acting in the interest of the retail investor.

from companies http://bit.ly/2T05Xxn

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Why Rs 1-cr fine shouldn’t be slapped for flouting NGT order: CPCB to RIL

The CPCB said that the National Green Tribunal had on September 28 directed oil companies to ensure installation of VRS in petrol pumps selling more than 300 kilolitres per month

from Companies http://bit.ly/2QVOuE9

Adani partners Germany’s BASF for Rs16,000-crore petrochem foray

The site in Mundra would be BASF’s first carbon dioxide-neutral one

from Companies http://bit.ly/2DgbWbV

Jet Airways’ Naresh Goyal commits investments for Rs 700-crore infusion

Goyal wants Sebi exemption from takeover code if stake falls below 25%

from Companies http://bit.ly/2T0PnNA

Grofers aims $1 billion run rate during upcoming grocery sale

Grofers, which is set to raise funds from SoftBank and other investors, is expecting to touch ₹150 crore in gross merchandise value during the sale

from companies http://bit.ly/2QXX9Gm

KG-D6 issue: Niko serves arbitration notice to RIL and BP

Niko has a 10% stake in the KG-D6 block, off the country’s east coast. Mukesh Ambani-controlled RIL holds 60% and BP Plc owns a 30% stake

from companies http://bit.ly/2VYeqmy

ICAI pulls up three firms even as govt moves to strip it of its powers

Once the NFRA starts investigating cases against listed entities and big unlisted corporates, the ICAI will lose the power to look into these companies and their auditors

from Companies http://bit.ly/2Df2eGG

Reid & Taylor case: NCLT accepts Rs 2 crore as deposit from CFM ARC

The National Company Law Tribunal (NCLT) Thursday accepted a Rs 2 crore demand draft as earnest money deposit (EMD) from CFM Asset Reconstruction Company (ARC) for the ailing Reid & Taylor (RTIL), and has given them two weeks to submit a resolution plan.
The Mumbai NCLT bench headed by Bhaskara Pantula Mohan and V Nallasenapathy said CFM ARC CEO S V Shah can deposit the balance EMD of Rs 3 crore while submitting the resolution plan in two weeks.
Shah has sought four weeks to complete the due diligence, the bench said.
The bench further said it will consider a relaxation of another week in case the progress report of the resolution plan is satisfactory. CFM ARC will be considered the sole bidder.
However, the bench added that if CFM ARC wants SPGP to be a part of a consortium, it will purely be an internal arrangement along with the Employees Welfare Association of RTIL.
Earlier on January 15, SP Growth Partners (SPGP), an investor in bankrupt apparel brand Reid …

from Companies http://bit.ly/2TZTMAN

L&T Technology Services revises revenue guidance upwards to 24% for FY19

In the third quarter-ended December, LTTS reported a net profit of Rs 185.6 crore, growth of 47 per cent over the corresponding period of the previous fiscal year

from Companies http://bit.ly/2QXlagC

HUL Q3 net profit rises 8.9% to Rs 1,444 crore; volume growth at 10%

Net profit growth was the slowest in over a year at 8.9 per cent to Rs 1,444 crore, as the company had a higher tax outgo of Rs 510 crore for the quarter versus Rs 297 crore in the year-ago period

from Companies http://bit.ly/2VSPrRs

Amul sends notice to Google, asks it to withdraw websites copying its name

Dairy major Amul asks Google to ‘cease and desist’ from displaying fake and fraudulent websites.

from Companies http://bit.ly/2QTYqhK

Lenders of debt-laden Jet Airways likely to write off up to 25% of loans

The resolution plan in this regard would be ready by mid-February. By then, Etihad Airlines, which owns 24% in Jet, aims to conclude its own examination (‘due diligence’) on the airline’s issues

from Companies http://bit.ly/2MgsS4V

M&As nearly doubled to $100 billion in 2018; highest in value after 2013

Outbound activity increased 3.7 times in value, with Indian investors spending $11.3 billion across 75 deals

from Companies http://bit.ly/2syJ6NI

Google faces third EU antitrust fine within weeks, this time for AdSense

EU Competition Commissioner set to announce a penalty targeting the AdSense advertising service in the coming weeks.

from Companies http://bit.ly/2RAJU3C

Google faces third EU antitrust fine within weeks, this time for AdSense

EU Competition Commissioner set to announce a penalty targeting the AdSense advertising service in the coming weeks.

from Companies http://bit.ly/2RAJU3C

Edelweiss Financial Services ties up $1.3 billion to buy India debt assets

It will use funds, which makes it the largest India dedicated alternative-investment unit, to buy and turn around stressed assets with “viable business models and potential of generating cash flows”

from Companies http://bit.ly/2APKWOK

Reliance Retail Q3 revenue crosses ₹35,000 crore mark on new stores, higher margins

Reliance Retail’s EBITDA improved 20% from the immediate previous quarter to ₹1,680 crore in December quarter

from companies http://bit.ly/2W0azp1

With AI-based technology, Amazon’s Make In India innovations going global

In India, the company is betting heavily on technologies such as data analytics, AI, and machine learning (ML) to understand and predict consumer behaviour and build a strong e-commerce business

from Companies http://bit.ly/2T5m6BL

Aurobindo Pharma to acquire oncology products from US-based firm in $300 mn

Acrotech will be acquiring the product portfolio on a debt free and cash free basis, Aurobindo Pharma Ltd said in a regulatory filing

from Companies http://bit.ly/2Fz7M0S

Reliance Retail Q3 pre-tax profit jumps over 2-fold to Rs 1,680 crore

According to the company, Reliance Retail has further “consolidated its leadership position and is India’s largest, most profitable and fastest growing retailer”

from Companies http://bit.ly/2T0DS94

Apple’s Tim Cook calls for privacy bill with right to delete data

Apple CEO said any new US legislation should give more power to consumers to know what data is being gathered and to delete that information on demand

from companies http://bit.ly/2QZlZG0

UCO Bank board approves raising Rs1,000 crore via QIP

UCO Bank board also approved raising Rs500 crore from tier-II bonds

from companies http://bit.ly/2DfaSF0

UCO Bank board approves raising Rs1,000 crore via QIP

UCO Bank board also approved raising Rs500 crore from tier-II bonds

from companies http://bit.ly/2DfaSF0

SBI chairman says interpretation of Section 29A of IBC stretched too far

Rajnish Kumar says as the intent of Section 29A is very clear that the defaulting promoters should not be in the driver’s seat once again, it has become the most contentious issue and more clarity is needed on it

from companies http://bit.ly/2QVMpbE

Reliance Jio Q3 net profit jumps 65% to Rs 831 cr on rise in customer base

The operating revenue of Reliance Jio increased by 50.9 per cent to Rs 10,383 crore during the October-December 2018 period

from Companies http://bit.ly/2TUp4sv

Monaco cruise liner to have stopovers at various ports in India

The 120-guest Silver Discoverer cruise ship of the Silversea Cruises in its 14 night Asia expedition voyage, will reach Chennai in January

from Companies http://bit.ly/2AQRkW2

RIL Q3 net profit up 8.8% to Rs 10,251 cr on petrochem, retail, telecom

RIL becomes first private sector Indian company to cross Rs 10,000-cr profit mark

from Companies http://bit.ly/2MepIP9

Reliance Industries Q3 profit rises, beats estimate

Reliance Industries net profit on a consolidated basis was Rs10,251 crore for October-December, versus Rs9,420 crore in the same period a year earlier

from companies http://bit.ly/2TTCiFX

Morgan Stanley suffers worst bond-trading slump on Wall Street

Bond-trading revenue tumbled 30% to $564 million, the biggest drop of the five largest US investment banks and well below the $823 million average estimate of analysts

from companies http://bit.ly/2HjLyli