BUSINESS
Sensex trims gains after reclaiming 50,000
Around 10.18 a.m., it was trading at 49,868.74, higher by 134.9 points or 0.27 per cent from its previous close of 49,733.84. It opened at 50,093.86 and has so far touched an intra-day high of 50,375.77 and a low of 49,813.16 points. The Nifty50 on the National Stock Exchange was trading at 14,913.20, higher by 48.65 points or 0.33 per cent from its previous close.
IFC to invest $15M in Seabright IV L.P/Prime Venture Partners
The IFC also plans another $15 million as a co-investment envelope to invest alongside the Fund. The Fund will invest primarily in companies focused on India. According to IFC, the Fund will focus primarily on seed to series-A stage investments in Indian technology-enabled companies.
Zomato's draft IPO prospectus reveals salary of its top brass
Zomato's draft red herring prospectus for an initial public offering (IPO) reveals the salary of its top executives. It shows that its MD & CEO, Deepinder Goyal, draws a basic salary of Rs 3.5 crore and he took a pay cut amid the pandemic in the last financial year. In FY 2020-21, the CEO had taken a remuneration of Rs 1.96 crore.
Hyundai Motor offers assistance of Rs 20 cr to fight Covid-19
Under its third phase of initiatives for Covid-19, HMIF will rollout a multi-faceted relief package of Rs 20 crore that is deeply focused on the crisis at hand, a statement by the company said. To impact meaningful respite across the most impacted states and cities, Hyundai will deploy its resources for setting up oxygen generating plants in hospitals, to aid critical patients and help hospitals become self-sufficient in oxygen supply.
Maruti Suzuki to shut Haryana factories to divert oxygen for medical use
In a statement, the company said that as part of the car manufacturing process, Maruti Suzuki uses a small amount of oxygen in its factories while relatively much larger quantities are used by the manufacturers of components.
Committee on ARCs invites views from stakeholders
The Reserve Bank of India constituted committee on Asset Reconstruction Companies (ARCs) has invited ARCs, market participants and other stakeholders to share their views and suggestions on the issue of working of such companies.
US sanctions hit Huawei, sales drop 16.5% after selling Honor biz
The company, however, said that its net profit margin was up 3.8 percentage points (year-on-year) at 11.1 per cent which was the result of the company's ongoing efforts to improve quality of operations and management efficiency, as well as a patent royalty income of $600 million.
Implement norms for statutory auditors in next fiscal, FIDC to RBI
The guidelines for appointment of Statutory Central Auditors and Statutory Auditors (SAs) of Commercial Banks (excluding RRBs), UCBs and NBFCs (including Housing Finance Companies) which were released on Tuesday would become applicable from the current financial year (2021-22).
Small scale, tiny units want interest waiver to survive Covid-19 impact
An official of a public sector bank preferring anonymity told IANS that if the government does not come out with a package, then the non-performing assets (NPA) of the banking sector are set to surge ahead this year.
Zomato files for Rs 8,250 cr IPO as orders surge in pandemic
In a draft red herring prospectus (DRHP) filed with the market regulator, Zomato said it aims to raise Rs 8,250 crore in capital by offering the company's equity shares for sale. Of this, Rs 7,500 crore will be through fresh issuance and the rest of the Rs 750 crore will be an offer for sale for its existing investor Info Edge.
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