From offering office premises that can be converted into isolation wards to earmarking funds to be used for procuring kits, ventilators as well as personal protective equipment for health care workers, India Inc has put a united front to combat the unprecedented crisis facing the country.
The donation by Tata Sons and Trusts is the biggest sum committed by a corporate and its philanthropic arm since the outbreak of Covid-19. Others, including Reliance Foundation, Mahindra Group, Bajaj Group, and ITC, are lending support too in the battle against the pandemic.
The business will also see a change of guard. Shailesh Chandra, president of EV and corporate strategy, will replace Mayank Pareek as president of PV business, including EV, with effect from April 1. Pareek will be superannuating from the company after a six-year stint at the end of February 2021. Chandra and Pareek will work on transition over the next few weeks.
Some 500,000 drivers and helpers have been left high and dry because of lockdown; many of these trucks are carrying essential goods.
This is an exceptional case of extension beyond the 330-day limit under the insolvency and bankruptcy code.
Foreign brokerages said if SBI decide to buy stake in the bank, they should buy it at Rs 1 per share as the net worth is hugely impaired.
Bank credit growth declined to 8.5 per cent in January from 13.5 per cent in the year-ago period.
A Russian fund submitted its interest to the resolution professional on February 14 and also hired a consultancy firm to help them with the bidding process.
In absolute terms, the outstanding book value of NPAs of LIC in the debt portfolio across life, pension and unit-linked funds is to the tune of Rs 32,685.39 crore at the end of December 2019.
Amendment to the Act, sovereign guarantees, investment portfolio, realty holdings, and governance issues to shape valuation.
After years of giving free passes to counterparts from Korea, Japan, US in the Indian auto market, Chinese automakers had planned a major push to grab the fifth largest car market in the world. But the shutdown of factories and logistics hubs in the country following the outbreak of coronavirus is slowly constricting the business of Chinese auto majors which have recently entered India.
The number of participating automakers has fallen from 50 in 2018 to 30 this year. The count of exhibitors, including technology companies, has come down from 119 to 112. And showstopper luxury and supercar brands, including Toyota, Jeep, Lamborghini, Porsche, and Volvo will be missing. Similarly, the commercial vehicle makers also gave the show a miss -- a prolonged economic slowdown has dented their fortunes and near chances of any recovery.
Owing to the poor market conditions and tepid sentiments, the size of the show has shrunk compared to the last edition, which took place in 2018. A majority of the two-wheeler makers, and several car and commercial vehicle makers, have opted out of this year's show, which opens for the media on Wednesday.
From Hyundai to Tata Motors, automakers are staring at a bleak future. With no succor provided in the Budget, the pain for companies is likely to continue for the next two quarters.
Chinese automakers Great Wall Motors, FAW Haima Automobile, and Changan Automobile, after dithering about entering India for some years, have been encouraged by the robust sales performance of the late entrants Kia Motors and MG Motors even in a slowing market.
It's the first time in its 178-year-old history that the iconic British motorcycle firm owned by the Bloor family has got into an alliance. Three years after announcement, the two companies formally signed on the dotted lines on Friday for a long-term partnership, which aims to achieve global scale in a segment in which Royal Enfield has head-start.
The exposure, which is for the period ended September 2019, is across various platforms such as life funds, pension funds, and unit-linked funds.
This number is more than the total number (1,071) of electric cars sold in India in calendar year 2019. MG has stopped registrations for the ZS and will cater to 2,409 of the total bookings.
The move marks the entry of GWM, one of the largest manufacturers of sport utility vehicles (SUVs) and pick-ups, into the Indian market and a complete exit for GM from the country, two years after it stopped selling cars here.
The BS-VI norms are expected to increase the price of two-wheelers by 10-14 per cent.
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