FE Bureau

Hero MotoCorp, Honda sales dip; slowdown in motown continues in April

Volumes of Bajaj Auto and TVS Motor Company grew at a tepid 3% y-o-y in April.

Industry News

Jet Airways crisis leads to air traffic growth hitting five-year low in FY19

Domestic carriers, which recorded 52 months of double-digit growth in passenger traffic, have grown at 5% y-o-y in calendar year 2019.

Industry News

Shoppers Stop CEO says weak performance in Q4 not unusual

This was due to higher depreciation owing to one store closure, one store relocation and re-evaluation of life of the asset in line with lease period which aggregated to a reduction of `18.69 crore from the profits in Q4FY19.

Industry News

Dabur India posts 6% decline in Q4 profit

Profits were dragged down by subdued rural demand and liquidity crunch, besides a one-off exceptional charge of `75.34 crore on account of impairment of goodwill.

Industry News

Tata Power consolidated Q4 operating profit drops 1.5%

In Q4FY19, the company has also made an impairment of `106 core towards the gas-based Rithala power plant in Delhi, which is lying idle for the last four years.

Industry News

PepsiCo vs farmers: Gujarat govt wants to settle cases out of court

By the virtue of the plant variety certificate under the Protection of Plant Varieties and Farmers' Right Act 2001, PepsiCo had filed legal suits against nine potato growers. 

Industry News

Maruti sales skid in April, lowest since December 18

Passenger cars (Alto, Baleno, Swift, WagonR, Ciaz).

Industry News

Lenders to take 52% haircut as Patanjali’s resolution plan for Ruchi Soya gets the go-ahead

The CoC met twice consecutively last week to discuss and finalise technical aspects of the resolution plan before the voting process begun.

Industry News

GST collection jumps to Rs 1.14 lakh crore, robust mop-up in April boosts hope

During 2018-19, the average GST collection per month was Rs 98,114 crore and the year before, the average was Rs 89,884 crore.

Economy News

Victory for RBI: Madras HC sets aside its single-judge order on NBFC registration

RBI had argued that instead of approaching the court, there was an appeal remedy available and the companies have filed the writ petitions without approaching the appellate authority.

Banking & Finance News

CERC extends validity of 1.2 lakh renewable energy certificates as prices rise

However, the prices started rising since then, trading at `2,000/REC in March and April this year.

Industry News

Oyo to acquire Amsterdam firm @Leisure for €369 million

Ritesh Agarwal, founder and group CEO of OYO, said the firm sees vacation homes as a unique opportunity with 115,000 units of homes now getting added.

Industry News

Digital lending firm raises $20 million to grow loan portfolio

Happy said it has disbursed over $20 million through over 32,000 loans to more than 80 different kinds of businesses.

Industry News

UPI usage volumes dip 2% m-o-m in April

On a year-on-year (y-o-y) basis, however, there was a 311% jump in UPI volumes in the month of April, while the aggregate value of transactions shot up 426% y-o-y.

Banking & Finance News

TVS Motor looks at Rs 650-crore investment in FY20

Though scooter segment saw decline in its sales last fiscal, the company expected demand to revive in the coming months, particularly strong revival in urban markets again.

Industry News

Financial cybercrimes, identity thefts on the rise: FIS Report

UPI 2.0 is also a boon for merchants, as it supports the use of an overdraft account and the verification of invoices prior to payments, moving mobile payments squarely into the small and medium enterprise segment.

Industry News

Co-location case: Sebi bars NSE from securities market for 6 months; says exchange must disgorge Rs 625 crore

It also asked NSE to frame a clear policy on administering whistle blower complaints.

Markets News

Kotak Mahindra Bank Q4 standalone net rises 25% to Rs 1,407 crore

The capital adequacy ratio (CAR) under Basel-3 norms amounted to 17.5%. The minimum CAR under Basel-3 is 10.5%.

Banking & Finance News

IL&FS Mututal Fund pays out Rs 314 crore on redemption of its 5-year debt fund

IL&FS and IL&FS Financial Services launched these debt funds in partnership with Life Insurance Corporation, United India Insurance Company, General Insurance Corporation of India and National Insurance Company.

Markets News

Genetic code to develop climate-resistant chickpea cracked by Icrisat-led team

About 60-70% of world's chickpea area is grown in India, but drought and increasing temperatures are said to cause more than 70% yield loss.

Commodities News

CEA issues draft guidelines on cross-border power trade

While the CEA proposes to allow Indian entities to import electricity from neighbouring countries only through bilateral agreements, export of power can now be done through spot power markets as well.

Economy News

Plugging loopholes: Income tax dept to share taxpayer info with GST

The GST investigative arm has found Tata Starbucks guilty of profiteering to the tune of `4.51 crore by not reducing prices of coffee despite a cut in the rate.

Economy News

Insolvency proceedings: Defaulting promoters may get chance to come back

The draft says if firms undergoing insolvency fail to attract any resolution plan, an attempt can be made through a compromise scheme.

Industry News

MakeMyTrip acquires Quest2Travel to expand presence in corporate travel segment

Gurgaon-based MMT currently offers myBiz to cater to the travel needs of corporates but it was largely targeted at small and medium size enterprises.

Industry News

Supreme Court does well to reject the forced NSEL-FTIL merger

A bench led by justice RF Nariman allowed a batch of appeals filed against the Bombay High Court’s December 2017 order that upheld the central government’s merger order.

Markets News

Anil Ambani’s RCom back to insolvency as NCLAT vacates stay

The NCLAT while allowing RCom’s plea for initiation of insolvency proceedings said that further orders in the case will be passed by the NCLT. It also directed that the ongoing moratorium on RCom’s assets and dues be main

Industry News

Robotic process automation company UiPath raises $568 million in Series D funding

The firm had first closed its Series A funding in April 2017.

Industry News
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