Business, Companies, 16th May 2019, News & Stories from India

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Business Companies 16 May 2019

Business, Companies, 16 May 2019

Reuters found several listings of toilet seat covers, yoga mats, sneakers, rugs and other items depicting Hindu gods, or sacred Hindu symbols, on Amazon’s US website. (Photo: Twitter @SwamiGeetika)

Amazon faces backlash for selling shoes, rugs with images of Hindu gods

Amazon did not immediately respond to a request for comment.

16 May 2019 6:35 PM

Following the plunge in the scrip, InterGlobe Aviation's market valuation dropped by Rs 5,455.89 crore to Rs 56,377.11 crore on the BSE.

InterGlobe Aviation stock tanks 9 pc amid reports of rift between promoters

The scrip tumbled 8.82 per cent to close at Rs 1,466.60 on BSE. During the day, it tanked 9.82 per cent to Rs 1,450.50.

16 May 2019 5:32 PM

Mastercard has already stared "on soil processing" in in its Pune facility during October last year.

Mastercard to double India headcount to 4,000 in 5 years

Mastercard recently announced an investment of USD one billion over the next five years on increasing infrastructure.

16 May 2019 4:04 PM

Mathews said most of the telecom operators are de facto already providing more than 2 mbps on an average and "at peaks a lot more", which is borne out by the data speed test results of various firms.

COAI favours minimum broadband speed of up to 2 Mbps for 4G network

Currently, the minimum broadband speed is 512 Kbps.

16 May 2019 3:25 PM

Bidding for 14 blocks on offer in the Open Acreage Licensing Policy (OALP) round-II and another 18 oil and gas blocks and 5 coal-bed methane (CBM) blocks on offer in OALP-III closed on Wednesday. (Representational Image)

Reliance-BP makes 1st bid for oil block; Vedanta bids for 30, ONGC 20

Official sources said Vedanta, which had walked away with 41 out of the 55 blocks offered in OALP-I last year, bid for 30 areas.

16 May 2019 2:54 PM

The bank had reported a net loss of Rs 3,969 crore in the same quarter of the previous year.

Bank of India post Rs 252 crore profit in Q4

Total income in three months to March grew to Rs 12,417.08 crore, as against Rs 9,596.86 crore.

16 May 2019 2:47 PM

Tzar Aerospace has been taking up the projects under the category of Swachh Bharat, renewable energy, drone manufacturing, aerospace engineering, biochemical and robot technology etc.

Tzar Aerospace, an India-based aerospace and defence startup, raises USD 15 bn

Tzar Aerospace is developing a conceptual unmanned hypersonic research aircraft with new computational approaches and methods.

16 May 2019 1:46 PM

The financial creditors would vote for the second time on the resolution plan for Jaypee Infratech.

Jaypee Infra insolvency: Over 23,000 homebuyers, 13 banks start voting on NBCC's bid

The voting process will end on Sunday and the outcome would be declared on May 20.

16 May 2019 1:43 PM

Shares of Tata Global Beverages also advanced 10.61 per cent to Rs 219.85 on the BSE.

Tata Chemicals, Tata Global Beverages shares zoom on merger announcement

Tata Chemicals scrip jumped 8.36 per cent to Rs 604 on the BSE, and 8.83 per cent to Rs 606 on the NSE.

16 May 2019 12:58 PM

Berkshire also invests in JPMorgan, and boosted its holdings in the largest US bank by 19 per cent in the first quarter to 59.5 million shares, worth USD 6.02 billion. (AP Photo/Reed Saxon, File)

Buffett's Berkshire unveils USD 861 million Amazon stake

The size of the investment was disclosed in a regulatory filing detailing Berkshire’s US-listed stocks as of March 31.

16 May 2019 12:33 PM

The scrip tumbled 7.55 per cent to Rs 1,487.10 on the BSE and on NSE, shares tanked 7.73 per cent to Rs 1,485.75.

InterGlobe Aviation shares tank nearly 8 per cent

Promoters hold about 75 per cent stake in InterGlobe Aviation as per March quarter shareholding pattern on the BSE.

16 May 2019 12:20 PM

WeWork is at the forefront of a structural shift in how real estate is bought, leased and consumed that will leave behind the landlords and investors who ignore the disruption. (Photo: AFP)

WeWork starts USD 2.9 billion property platform with Canada's CDPQ

WeWork, valued at about USD 47 billion in a series of private fundraisings, filed paperwork in April.

16 May 2019 12:13 PM

You can disable the feature if you feel like having a casual conversation with your driver.

Uber introduces ‘Quiet Mode’ to let you politely tell chatty drivers to shut up

Uber Black and Black SUV riders in the US will now be able to enable the Quiet Mode to politely indicate you need some quiet on your way.

16 May 2019 9:58 AM

The company has divided its energy space business into two segments -- energy storage and mobility solutions.

Panasonic India aims Rs 700 cr revenue from energy business by 2021

Panasonic has plans to expand charing solutions for other vehicle categories and to expand to 7-8 cities in the next three years.

16 May 2019 8:55 AM

Tata Global Beverages Ltd (TGBL) will buy the business of selling edible salt, spices, and lentils and give shares in return to Tata Chemicals Ltd (TCL).

Tata to transfer food business from Tata Chemicals to Tata Global Beverages

Each shareholder of TCL will get 1.14 new equity shares of TFBL for every one equity share held.

16 May 2019 8:48 AM

Mittal's association with these companies would make him ineligible as a bidder.

ArcelorMittal resolution plan violative of IB Code: Ruia to NCLAT

Essar Steel submitted before the NCLAT that the resolution plan moved by ArcelorMittal is in violation of the IBC.

16 May 2019 8:39 AM

Yes Bank shares faced selling pressure after opening lower at Rs 154.90 through out the trading session and touched an intra-day low of Rs 142.50 on BSE and Rs 141.80 on NSE.

YES Bank slumps 5 per cent after RBI puts Gandhi on board

Yes Bank finally closed 8.01 per cent down on BSE at Rs 143.65 and at Rs 142.95 on NSE.

16 May 2019 7:05 AM

The acquired facility includes land, building and two sortex plants and has a production capacity of 800 MT per day.

GRM to develop warehouse near Mundra port

The acquisition has been funded through a combination of bank borrowings and internal accruals.

16 May 2019 6:41 AM

After the merger deal, TGBL will be known as Tata Consumer Products Ltd.

Tata Chemicals to shift food business to TGBL

The deal is expected to create a more than Rs 9,000-crore turnover giant.

16 May 2019 6:36 AM

The audit report said that former managing director of IL&FS Financial Services (IFIN) Ramesh Bawa did not disclose his investments in AAA Info-system and AAAB Infra-structure, though it was mandatory for all company directors to disclose their investments in other firms as per the Company’s Act.

Audit finds 107 cases of shady lending at IL&FS

The Enforce-ment Directorate (ED) may now take the cognisance of the report for further action.

16 May 2019 6:33 AM

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Shobhaa De