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BUSINESS

Uber partners with Indian Oil Corporation

Uber has partnered with Indian Oil Corporation (IOC) to offer special benefits, including a discount on fuel, to the ride-hailing company’s driver-partners in India. The agreement with IOC will offer delivery partners discounts on petrol, diesel and CNG in IOC petrol pumps across India. This initiative is a part of ... Read More »

ONGC reports 32% fall in Q4 net profit

Oil & Natural Gas Corporation (ONGC) has reported results for fourth quarter and year ended March 31, 2019. The company has reported a fall of 31.62% in its net profit at Rs 4,044.60 crore for the quarter under review as compared to Rs 5,915.12 crore for the same quarter in ... Read More »

Hulst B.V. increases stake in NIIT Technologies to 33.10%

Hulst B.V. has acquired 27,490 equity shares with face value of Rs 10 each of NIIT Technologies, on May 30, 2019. After this acquisition, the entity’s stake in the company has been increased from 33.06% to 33.10%. NIIT Technologies is a leading global IT solutions organization servicing customers across the ... Read More »

SAIL reports 43% fall in Q4 net profit

Steel Authority of India (SAIL) has reported results for fourth quarter and year ended March 31, 2019. The company has reported a fall of 42.57% in its net profit at Rs 468.40 crore for the quarter under review as compared to Rs 815.57 crore for the same quarter in the ... Read More »

ONGC’s arm posts 4.7% rise in oil & gas production in FY19

Oil and Natural Gas Corporation’s (ONGC) overseas subsidiary — ONGC Videsh has registered increase in production of Oil & Gas by 4.7% with net production of 14.833 MMTOE in FY19, as compared to 14.164 MMTOE in FY18. ONGC is India’s largest government-run corporation and produces about 70% of India’s crude ... Read More »

Simplex Infrastructures reports order inflow of Rs 3,194 crore in FY19

Simplex Infrastructures has reported cumulative order inflow of Rs 3194 crore in FY19. The company has ended FY19 with the order book backlog of Rs 6,020 crore. Simplex Infrastructures is engaged in the business of contract constructing infrastructural facilities. The company’s segments include Construction business and others. Read More »

Peninsula Land to raise Rs 750 crore via NCDs

Peninsula Land has received approval to raise Rs 750 crore through Non-Convertible Debentures (NCDs) on Private Placement basis in one or more tranches during the Financial Year 2019-20. The Board of Directors of the Company at its meeting held on May 30, 2019 has approved the same. Peninsula Land is ... Read More »

L&T increases stake in Mindtree to 28.88%

Larsen & Toubro (L&T) has acquired 26,974 equity shares (with a face value of Rs 10 each) of Mindtree on May 30, 2019. After the latest transaction, L&T’s shareholding in Mindtree stands at 28.88%. L&T is an Indian multinational engaged in technology, engineering, construction, manufacturing and financial services with over ... Read More »

Ramco Cements launches new premium ‘Ramco Supercrete’ cement

Ramco Cements has launched a new premium blended cement – ‘Ramco Supercrete’, a new premium blended cement. Ramco Supercrete is packed in very attractive BOPP bags that ensures no spillage and therefore ensures a clean environment. Ramco Supercrete will address the requirements of the premium segment in the market. The ... Read More »

Grandeur Products acquires 47.53% stakes of TSSPL

Grandeur Products has acquired 47.53% equity stakes consisting of 9,80,000 shares of Tierra Seed Science (TSSPL). The objective of acquisition of TSSPL will help in the expansion of Business and to further strengthen the position of the Company in the Seed Industry. Grandeur Products is in the business of FMCG ... Read More »

RITES reports 70% rise in Q4 net profit

RITES has reported results for fourth quarter and year ended March 31, 2019. The company has reported a rise of 70.18% in its net profit at Rs 131.82 crore for the quarter under review as compared to Rs 77.46 crore for the same quarter in the previous year. Total income ... Read More »

Mahindra Finance raises Rs 900 crore though NCDs

Mahindra & Mahindra Financial Services (Mahindra Finance) has raised funds worth Rs 900 crore. The duly authorized Committee of the company, at their meeting held on May 30, 2019, has approved the allotment of 9,000 Secured Redeemable Principal Protected Non-Convertible Market Linked Debentures (NCDs) of the face value of Rs ... Read More »

Future Lifestyle Fashions incorporates wholly owned subsidiary

Future Lifestyle Fashions has incorporated wholly owned subsidiary — FLFL Athleisure (FAL) on May 29, 2019. FAL would inter-alia carry on retail business including sportswear, athleisure wear, apparels, consumer products and general merchandise and accessories and providing related services, which is in line with the business of the Company. Future ... Read More »

Nelco enters into agreement with DTS Corporation to sell stake

Nelco has entered into share purchase & sale agreement with DTS Corporation, Japan for sale of its entire Investment to the extent of 253,665 shares representing 12.30% in Nelito Systems at a consideration of Rs.6.78 crore. The agreement was signed on 29th May, 2019. Nelco was established in 1940 and ... Read More »