BUSINESS
SEBI relaxes compliance timelines for debenture trustees
The timeline for disclosures on websites including monitoring of asset cover certificate and quarterly compliance report of the listed entity, monitoring of utilisation certificate, the status of information regarding breach of covenants or terms of the issue, if any action taken by debenture trustee, has been extended till July 15.
High frequency indicators show economic activity 'softening': Crisil Research
"In India, the impact of state-announced restrictions are more clearly showing up across high-frequency indicators - they all trended down for the second consecutive week," it said. Retail mobility fell 8.2 percentage points (pp) on average in the week ending May 2, while workplace mobility slowed 7.1 pp.
Verizon Media sells Yahoo, AOL to Apollo Funds for $5B
Verizon will retain a 10 per cent stake in the company, which will be known as Yahoo at the close of the transaction and continue to be led by CEO Guru Gowrappan. Under the terms of the agreement, Verizon will receive $4.25 billion in cash, preferred interests of $750 million and retain a 10 per cent stake in Verizon Media. The transaction is expected to close in the second half of 2021, the company said in a statement.
Kotak Mahindra Bank's Q4 net profit grows 33%
During the same period of FY20, the bank had reported a standalone net profit of Rs 1,266.60 crore. Net Interest Income (NII) for Q4FY21 increased to Rs 3,843 crore, from Rs 3,560 crore in Q4FY20, up 8 per cent and for FY21 increased to Rs 15,340 crore, from Rs 13,500 crore in FY20, up 14 per cent. Net Interest Margin (NIM) for Q4FY21 was at 4.39 per cent.
Govt gives ad hoc IGST exemption on imports of Covid relief material
In view of the coronavirus pandemic, the Central Government has exempted IGST or integrated GST on import of such goods received free of cost for free distribution of Covid relief. The exemption is ad hoc and applicable for all specified imports made till June 30, 2021.
India's manufacturing output inches up as demand rises: PMI
The report by IHS Markit India Manufacturing PMI said economic conditions in India's manufacturing sector remained favourable in April, as companies scaled up production in line with a further improvement in demand.
SpiceJet airlifts 700 oxygen concentrators from Guangzhou
SpiceJet's air cargo arm SpiceXpress on Monday airlifted 700 oxygen concentrators from Guangzhou. The airline has airlifted more than 4,400 oxygen concentrators from the USA, Hong Kong, Singapore and China in the last two weeks. SpiceXpress used its B737 freighter aircraft to airlift the concentrators from Guangzhou.
TVS Motor sold 2.38 lakh units in April
Last year the company had sold 9,640 units in April 2020 when the nation went under Covid-19 lockdown. The company said domestic sales in April 2021 is lower due to lockdowns in many states, but retails continue to be ahead of despatch. Last month company sold 226,193 two wheelers and 12,790 three wheelers.
WinZO gives complete exit to Hike via $12M share buyback
Vernacular social gaming platform WinZO on Monday said it has bought back early investor Hike's shares for $12 million, making it one of the largest buyback transactions by an early stage firm in the Indian start-up ecosystem. The move gives a complete exit to Hike with four-fold returns on their investment in May 2019.
Petrol dealers urge LG to open one side of road at Singhu border
In a letter written to LG, the Delhi Petrol Dealers' Association has said that police should open one side of the road particularly Delhi-Panipat side as farmers have agreed to give way in wake of the wide spread of Covid pandemic. This they said, would also help resume fuel stations operations that has been closed near the border for more than five months bringing income of pump owners to nil.
Don't Miss
Advertisement