BUSINESS
RIL's swift steps make it largest producer of medical Oxygen
Traditionally, Reliance is not a manufacturer of medical grade liquid oxygen. Yet, starting from Nil before the pandemic, the company is its largest producer in the country from a single location. At its refinery-cum-petrochemical complex in Jamnagar and other facilities, RIL now produces over 1000 MT per day - or 11 per cent of India's total production - meeting the needs of nearly every one in ten patients.
Hyundai Motor India April cumulative sales at over 59K units
Automobile manufacturer Hyundai Motor India's cumulative sales during April stood at 59,203 units. Accordingly, the company sold 49,002 units in the domestic market during the month under review. It shipped out 10,201 units to foreign countries last month.
Centre releases Rs 8,873.6 cr fund to states to fight Covid
The Finance Ministry has released an amount of Rs 8,873.6 crore in advance towards central share of the State Disaster Response Fund (SDRF) for FY22 to help states in their fight against Covid-19. The advance release of 1st instalment of central share towards SDRF has been released as a special dispensation on the recommendations of the home ministry.
HDFC Bank goes for organisational rejig
Private sector HDFC Bank on Friday announced organisational rejig under 'Project Future-Ready' for the next wave of growth. In a statement, it said it is reorganising itself into three areas, viz business verticals, delivery channels and technology/digital to be ready for the future and capitalise on the opportunities.
Boeing announces $10 mn emergency assistance package for India
According to Boeing, the assistance will be directed to organisations providing relief, including medical supplies and emergency healthcare for communities and families battling Covid-19.
Jio's Q4 net profit grows 48% to Rs 3,508 crore
During the same quarter of FY20, the company had reported a consolidated net profit of Rs 2,379 crore. Jio's consolidated revenue from operations rose 18.9 per cent on a year-on-year basis to Rs 18,278 crore during the fourth quarter of FY21. The total customer base of the company as of March 31, 2021, was 426.2 million, said a company statement.
RIL doubles Q4 net profit to Rs 13,227 cr
Reliance Industries Lts (RIL) on Friday reported a 108 per cent growth in its consolidated net profit for the January-March quarter at Rs 13,227 crore. During the same quarter of FY20, the company had reported a net profit of Rs 6,348 crore. The company, in a regulatory filing, said that Rs 13,227 crore is the net profit attributable to the owners of the company.
Yes Bank reports net loss of Rs 3,788 cr in Q4
Yes Bank on Friday reported a standalone net loss of Rs 3,787.75 crore for the January-March quarter. Its gross NPA was 15.41 per cent during the fourth quarter of last fiscal, down from 16.80 per cent reported in the same quarter in FY20. The total income of the bank during the fourth quarter of FY21 stood at Rs 4,805.30 crore.
Samir Seksaria to take over as CFO of TCS
The Board of Directors, at its meeting held on April 12, had appointed Seksaria as the Chief Financial Officer. He started his career in TCS in 1999 and spent his early years in consulting assignments involving regulatory compliance and M&A spin-offs, amongst others.
RBI Governor meets MD, CEOs of small finance banks
The Reserve Bank of India on Friday held a meeting with heads of small finance banks on credit flows . In his opening remarks, the Governor recognised the important role of the SFBs in delivering credit and other financial services to individuals and small businesses. He also emphasised the supervisory expectations in terms of maintaining their business resilience and managing risks prudently.
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