China steelmaker default sparks debt contagion fear
China Hongqiao Group Ltd’s dollar bond due 2023 and Shandong Sanxing Group Co’s 2021 dollar bond have both dropped to their lowest levels after Xiwang’s default.
HDFC Life may get more muscle in MSCI Index, stock surges
However, majority of the analysts expect limited upside for the stock citing its expensive valuations.
Arjas Steel starts working on four-year road map to raise capacity
The Arjas steel plant at Tadipatri, in Anantapur district of Andhra Pradesh, has an installed capacity of 300,000 tonnes of special steel long products per year, focused on automotive, defence, railways and related industries. The initial plan is to increase the capacity to 350,00 to 375,000 tonnes.
Tata Steel, six other companies join hands with WEF for responsible sourcing
The initiative will work towards experimenting, designing and deploying blockchain solutions that will accelerate responsible sourcing and sustainability practices.
After Pegasus spying row, India asks WhatsApp to explain privacy breach
India is awaiting WhatsApp’s response to decide on the next action, which could include imposition of penalty.
President Kovind suggests more social welfare spending by companies for orphans, disabled people
Under the Act, certain class of profitable companies are required to shell out at least two per cent of their three-year average annual net profit towards CSR activities in a particular financial year.
Companies have spent Rs 50,000 crore on CSR in 5 years: Government
Anurag Thakur said the companies over the last 5 years have contributed Rs 50,000 cr and above towards CSR. Companies Act was amended in 2013-14 making it mandatory for cos with a specified level of profit to spend 2% of it on social welfare.
Dr Reddy's Q2 profit jumps twofold to Rs 1,093 crore on tax benefit
There was a tax benefit of Rs 330 crore due to recognition of deferred tax assets of Rs 520 crore.
IL&FS' PE arm IIRF moves NCLT against DB Realty
IIRF defaulted in repayment of Rs 108 crore. BSE-listed developer is one of the largest domestic realty-focused funds with investments in firms like Wadhwa Group, Noida Trade Towers and Aparna Infra Housing. IIRF is a part of the IL&FS Investment Managers (IIML), which has raised and managed over $3.5 billion.
FM: working on issue of ED attaching assets of companies under IBC
Several companies, including BPSL, that are undergoing proceedings under the IBC are also facing investigations by the ED over alleged money laundering by their promoters. FM Sitharaman said the ministry is looking to resolve the issue sooner.
Housing finance companies: Hot cakes turn hot potatoes
The housing finance sector growth has slowed down in the last one year due to liquidity crunch.
Motown queens fail to live up to top safety standards in tests
In crash tests conducted by UK-based private vehicle safety group Global NCAP, India’s top-selling hatchbacks, Maruti Suzuki WagonR and Hyundai Santro, received two stars and the Datsun RediGo got a single star. The WagonR and Santro achieved two stars for adult and child occupant protection.
Share market update: Consumer Durables shares trade lower; Crompton Greaves dips 1%
The S&P BSE Consumer Durables index was trading 0.67 per cent down at 26,833.05 around 11:43 am.
Realisation for financial creditors at 34% in Q2
The jump in recoveries was mainly due to the debt resolution of Bhushan Power & Steel, the data showed.
Investors flock to companies with visible earnings prospects
Some lesser-known stocks have recovered between 50 -100 per cent from their yearly lows.
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