FE Bureau

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Shutters down: Shut multiplexes, food courts to hit mall revenues

Malls may have opened in several cities post-lockdown but multiplexes, food courts, restaurants and gaming zones continue to be shut, because of which revenues of India's top 10 malls would fall by 50% this fiscal.

Shut multiplexes, food courts to hit mall revenues

Godrej Properties posts Rs 20-cr loss in Q1

This is the company’s first loss in 10 quarters. It had reported a loss of Rs 54.75 crore during the October-December 2017 quarter.

GPL had recorded a profit of Rs 90 crore in the June quarter ended 2019.

DLF reports net loss of Rs 72 crore as Covid hits business

The developer had reported a net loss of Rs 1,867 crore in Q4FY20 due to a one-time exceptional provision and a one-time DTA reversal on adoption of a lower-tax rate.

DLF said Covid-19 impacted operations for most part of the June quarter and was not comparable with the previous quarters.

Canara Bank posts Rs 406-crore profit in first results as amalgamated entity

Net interest income (NII) — the difference between interest earned and interest expended — stood at Rs 6,096 crore, up 21% y-o-y.

The three-month MCLR has been revised to 7.15 per cent from 7.45 per cent, Canara Bank said in a regulatory filing.

Adani Gas net profit drops 42% to Rs 46 crore in Q1

The sales volume for the June quarter fell 53% YoY to 64 million metric standard cubic meters per day (mmscmd) as piped natural gas (PNG) demand fell 40% and compressed natural gas (CNG) supply dropped 66%.

In the beginning of the quarter, Adani Gas had reduced the selling prices of PNG and CNG for all its domestic consumers in Gujarat, Haryana and Uttar Pradesh.

Zoho launches app to help companies get back to office amid Covid

Free till the end of this year, BackToWork, powered by Zoho Creator, is the latest programme built in India to be introduced as part of the company’s ongoing relief efforts, supporting businesses impacted by the pandemic.

Companies can also manage assets, repair and replacement needs through the app.

Uber India to hire 140 engineers to expand tech, product teams

The expansion plans are in line with the company’s aim, “to make mobility and delivery more accessible,” Uber said in a statement.

To conserve cash, Uber gave up its office space in Mumbai and had also laid off 600 permanent employees across operations in India in May.

Data-driven cities: IT capital Bengaluru ideally-placed to be a model of digitisation, says Siemens report

Bengaluru, the IT capital of India, is ideally placed to be a model of digitalisation, says a Siemens report

Data driven cities, IT capital, Bengaluru, Siemens, Sunil Mathur,  employability rate, model of digitisation

India fourth in terms of start-up unicorn numbers; less than tenth of China’s: Hurun index

Interestingly, of the 21 Indian unicorns, Chinese investors like Alibaba, Tencent and DST Global have invested in 11 of them. Japanese investor Softbank has investments in 9 of them, while the USA’s Tiger Global has investe

Focus on SMEs to help India rise from Covid-19 crisis: Tata Sons chairman N Chandrasekaran

Citing the example of the US post the financial crash of 2008, the Tata Sons chairman said that small-scale entrepreneurs helped that country get back on its feet, creating 60% of net new jobs between 2008-2013.

He said that bringing India in line with other developing countries could shift 45 million workers into more productive employment.

COVID-19 crisis: General insurers flooded with claims for coronavirus

According to general industry officials, states like Maharashtra and Tamil Nadu, and the national capital are witnessing higher number of claims.

The Insurance Regulatory and Development Authority of India (Irdai) had asked general insurance companies to launch Corona Kavach policy with a sum insured of Rs 50,000 to Rs 2 lakh.

HDFC Bank: Sashidhar Jagdishan to succeed Aditya Puri as CEO

Jagdishan was recently anointed the bank’s ‘change agent’ in what was seen as a thinly-concealed nod from Aditya Puri to his preferred successor.

SDL yields continue to remain lower ahead of monetary policy announcement by RBI

For instance, Andhra Pradesh received a cut-off of 6.55% for its 15-year paper while its 18-year paper saw a relatively lower cut-off of 6.50%.

Experts indicate that despite the expectation of a status quo policy, many long-term investors want to lock-in their investments at current yields so as to avoid the possibility of a surprise rate reduction.

Business resumption still stuck in a low gear

Google mobility indices moderated marginally last week, while the Apple driving index picked up divergently by about 4pp over the last week.

The weekly tracker of the pace at which economic activity normalises, remained broadly unchanged

Solar firms seen receiving Rs 4,000 crore as regulatory payments: Crisil

The agency had earlier pointed that the safeguard duty had increased the implementation cost of around 5.4 giga watt (GW) of solar projects by as much as 15% and compressed the returns of developers by 160 bps.

The hike in GST levy on modules and related plant construction activities was seen to reduce returns by a further 60 bps.

COVID-19 disruption: Securitisation volumes declined 85% in June quarter, estimates Icra

“Such a drop in the volumes, is primarily attributable to the disruptions caused by the Covid-19 pandemic,” the agency said in its report.

The report also mentioned that commercial vehicle (CV) loans emerged as the leading asset class accounting for around 31% of overall volumes in the June quarter.

Lower industrial consumption arrests power demand revival in July

Overall power consumption rose marginally in July from previous month, thanks to the lockdown relaxations and increased household consumption due to summer heat.

Coca-Cola expands Minute Maid portfolio with two launches

The move is also in line with the company’s strategy to “accelerate” at-home consumption at a time when the away-from-home consumption segment, which typically forms the bulk of its sales, has been severely impacted.

Coca-Cola said all its manufacturing plants are functional and currently running at capacities similar to the levels seen during the year-ago period.

HDIL gets interest from 6 bidders including Adani, Suraksha

The invitation for expressions of interest for resolution applicants was first published in February and subsequently revised several times.

The real estate player owes Rs 6,840 to financial creditors.

Sensex snaps 4-day losing streak with 748-point leap

A report by Kotak Institutional Equities states that most companies reported a better-than-expected operating income in the Q1 results on the back of cost saving.

Share Market Today, Share Market Live

Coal India output improves in July with reviving power demand

The 158.4 MT coal output by CIL in the first four months of FY21 is 9.7% lower than the corresponding period last year.

Coal India output,power demand, CIL, domestic demand of coal, Coal companies, coal production

Moody’s upgrades Yes Bank to ‘B3’ on Rs 15,000-cr fundraising

The rating agency also upgraded Yes Bank's baseline credit assessment (BCA) and adjusted BCA to caa2 from ca.

July 2020 bike, scooter sales: Two-wheelers in demand, auto majors see sequential sales growth

The recovery for the month of June was largely driven by a choice for personal vehicles over public transport in the current Covid-19 crisis along with high disposable incomes in the rural markets owing to a good harvest and

used bikes scooters credr

Retail interest: Small investors rush to buy stocks

Small investors are thronging to the equity markets, as seen in the rise in retail holdings of BSE 500 companies, to 6.5% at the end of June from 6.2% at the end of March and 5.9% in June 2019.

Retail interest, Small investors, retail holdings, equity markets,  BSE 500 companies, sensex

Economic recovery slowed in July – Manufacturing, rail freight slip after resurgence in May-June

Worse, some even slipped in July, signalling a roller-coaster recovery ride ahead, rather than a steady and quick one, amid more and longer localised lockdowns.

The slowing of the recovery has also to do with the fact that sectors such as hospitality, restaurants, tourism and aviation haven’t really come out of the woods ever since the pandemic broke out.

Sensex crashes 667 points, Nifty closes below 10,900-mark

Kotak Mahindra Bank was the top loser in the Sensex pack by slumping 4.41%, followed by IndusInd Bank, Axis Bank, ONGC, HDFC Bank, Bajaj Auto and Reliance Industries.

Ahead of MPC meet, ICICI Bank cuts MCLR by 10 basis points

The one-year MCLR of ICICI Bank, to which many of the consumer loans are linked, will come down to 7.45% after the reduction.

Income Tax Calculator, Budget 2019, How to Calculate Income Tax


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