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Business / The Economic Times

Motherson Sumi Systems approves group reorganisation plan

The Board also approved the merger of SAMIL, the principal holding company of Motherson Group.

2 Jul 2020 9:21 pm
KKR to buy JB Chemicals & Pharma in $500 million deal

Post transaction, an open offer will be launched to acquire about 26% stake.

2 Jul 2020 9:17 pm
Facebook to shut TikTok clone Lasso

Lasso was launched in 2018 as an answer to TikTok, which has gained popularity globally. However, Lasso failed to gain traction and match TikTok. Facebook is now betting on Instagram Reels. It is also similar to TikTok where a user can record 15 second videos.

2 Jul 2020 9:09 pm
Bigo takes down short-video app Likee

Bengaluru: Bigo Technology on Thursday took down its short video app Likee from Google Play and App Store temporarily, following the decision of the Indian government to ban 59 applications. Bigo Technology is owned by Chinese Internet firm Joyy Inc. In compliance with the directives issued by the government, Likee has suspended its service in the country, it said in a statement.The company, however, said that it would work closely with all government authorities concerned on the issue within th

2 Jul 2020 9:01 pm
Tough road ahead for desi apps vying to replace TikTok

Bengaluru: The ban on Chinese short-video apps like TikTok and Likee has led to an increase in downloads of Indian 'Me-Too' apps such as Trell, Bolo Indya, Mitron, Chingari, and Roposo, but the battle to replace them with India-made ones is far from over, investors said.Gaining downloads is just the first step, they said.Retaining users, getting them to create a digital footprint and making them addicted to the app is crucial in this winner takes all market, they added.According to industry esti

2 Jul 2020 8:54 pm
NSE-BSE bulk deals: Kotak Mahindra International trims stake in KRBL

Heres who bought and sold what in some of the key bulk deals of the day.

2 Jul 2020 8:29 pm
Affle to acquire 8% stake in Indus OS for Rs 21 crore

According to a regulatory filing, Affle will pay USD 2.86 million or about Rs 21 crore to Indus OS for the stake.

2 Jul 2020 8:21 pm
We are a Singapore company & our DNA will always be Singaporean: Mike Ong, VP, BIGO Technology

BIGO Technology was acquired by Guangzhou headquartered video-based social media platform JOYY Inc in March 2019 last year at a market valuation $ 2.1 billion.

2 Jul 2020 8:14 pm
Trade setup: Short covering driving up Nifty50; avoid fresh purchases

The 10,590 and 10,635 levels will act as immediate resistance points in Friday's session.

2 Jul 2020 7:55 pm
HDFC Life replaces Vedanta in Nifty; SBI Cards enters 5 indices

Vedanta will cease to be a part of Nifty 500, Nifty 100, Nifty LargeMidcap 250 and Nifty 200.

2 Jul 2020 7:40 pm
USCIS furlough to further impact US immigration process

PUNE: The US Citizenship and Immigration Services (USCIS), the agency which administers the US visa process, will place around 13,400 people (over 70% of its workforce) on furlough, or unpaid leave, for three months starting August 3.The decision is expected to severely slow processing times of visas and green cards.According to media reports, the employees were informed two days ago that they would be furloughed from August.The USCIS has requested $1.2 billion in aid from the US Congress in May

2 Jul 2020 7:36 pm
TikTok stars get lakhs of new followers on Instagram

New Delhi: TikTok stars and celebrities have been gaining lakhs of new followers on rival Facebooks photo sharing app Instagram since the ByteDance owned app was banned alongside 58 other Chinese apps on June 29. Industry watchers said Instagram seems to be the most obvious migration platform for the followers of these TikTok stars as they already had existing accounts on the app. These users became household names after their popularity soared on TikTok. As per shared with ET by influencer data

2 Jul 2020 7:07 pm
Biocon lines up $200 mn capex for current fiscal

The company's capital expenditure during 2019-20 stood at Rs 974.2 crore, Mittal said.

2 Jul 2020 6:38 pm
Rating agencies flag off NBFC asset quality concerns

Non-performing assets (NPAs) of NBFCs could touch 7.0-9.5% by March 2021, Icra said.

2 Jul 2020 6:24 pm
Interoperability among clearing corps for share sale via OFS to start from July 13

The interoperability among clearing corporations for OFS will be implemented with effect from July 13, 2020, the BSE said in a circular.

2 Jul 2020 6:19 pm
GFG Alliance is keen on acquiring more stressed assets from India: Sanjeev Gupta

Kolkata | Mumbai: The Gupta Family Group Alliance, led by UK-based Sanjeev Gupta, is keen on investing and acquiring more stressed assets in the metals and mining space in India. The group entered the country earlier this year, acquiring bankrupt steelmakers Adhunik Metaliks and Zion Steel for Rs 425 crore in cash.Over the next 6-12 months, there will be quite a lot of consolidation happening in the steel and mining sectors. We will be keenly reviewing options on how and what role we can play, g

2 Jul 2020 6:16 pm
New exploration licenses see little contest in India

New Delhi: Contests have almost disappeared for Indias exploration licenses lately with private players staying away from auctions and two state players ONGC and Oil India - winning acreages without much challenge.In the fifth round of bidding, the latest under the Open Acreage Licensing Policy (OALP), the government received just 12 bids for 11 blocks on offer. This included 7 bids by ONGC and 4 by Oil India. For just one block, ONGC will compete with a private bidder, Invenire Petrodyne Ltd.

2 Jul 2020 6:16 pm
All Assam Students' Union stages protests opposing Assam government ordinance

AASU stated that the ordinance will alienate indigenous people from their land. The supporters of AASU on Thursday burnt copies of cabinet decisions in different places except in Kamrup (Metro) which is under lockdown.

2 Jul 2020 6:08 pm
Tata Power board OKs share issue to Tata Sons, InvIt for renewable units

The board of the company approved the issue of over 49 crore shares to promoter.

2 Jul 2020 5:52 pm
Post lockdown, there is a big shift in sectors finding favour with PE investors: EY

A large part of PE investments is due to the spate of announcements by Jio platforms which is an outlier and a one-off.

2 Jul 2020 5:52 pm
Not going to legally challenge the ban: TikTok

New Delhi: In a statement on Thursday, ByteDance owned TikTok said it is not going to legally challenge the government's ban of the app. There have been statements in the press concerning the possibility that TikTok might pursue legal action regarding the directive by the Government of India. We have no plans to pursue such action, TikTok said in a statement. \We are committed to working with the government to address its concerns. We comply with the laws and regulations of the Government of Ind

2 Jul 2020 5:31 pm
Rajasthan CM Ashok Gehlot to monitor ease of doing business in the state

In a press statement, Rajasthan government chief secretary D B Gupta said that, from now on, chief minister Ashok Gehlot would chair meetings to ensure time-bound implementation of all the ease of doing business measures. Gupta said the chief minister would personally monitor the progress on EoDB parameters achieved by various departments.

2 Jul 2020 5:31 pm
India needs to become global champion in auto, textile & food processing: Amitabh Kant

We need to really kindle the animal spirits of entrepreneurs in India

2 Jul 2020 5:27 pm
Pharma major Mylan gets go-ahead to make remdesivir for 'restricted emergency use'

NEW DELHI: After Hetero and Cipla, another pharmaceutical major Mylan was given permission by India's drug regulator on Thursday to manufacture and market the anti-viral drug remdesivir for estricted emergency use on hospitalised COVID-19 patients, official sources said.Written informed consent of each patient is required before the use of the drug while active post-marketing surveillance data and reporting of serious adverse events have to be submitted.On June 21, Hetero and Cipla were given p

2 Jul 2020 5:26 pm
Emami Agrotech's edible oil business down by 10% in Apr-Jun quarter due to closure of hotels, restaurants

The company reported sales of Rs 12,000 crore in last fiscal while profit was around Rs 100-120 crore.

2 Jul 2020 5:20 pm
Market Movers: Axis top blue chip loser, metals shine; 40 stocks give buy signals

Here is a lowdown on what happened in Thursdays session.

2 Jul 2020 5:13 pm
Samsung set to gain amid Chinese handset brands' pain

New Delhi: Chinas loss appears to be South Koreas gain, at least as far as the smartphone market in India is concerned.Samsung may displace Vivo and regain its No. 2 position by September end, if not the end of the June quarter, benefitting from the anti-China sentiment in India and the unavailability of fresh stocks of Chinese smartphones, experts said.Given the disturbance in the supply chain and stalled manufacturing, Chinese brands are not able to distribute products in the market even if de

2 Jul 2020 4:25 pm
Ban on Chinese apps provides opportunities to US, Indian startups: American business advocacy

Amidst escalating tensions with China in eastern Ladakh, the Indian government on Monday banned 59 mobile phone applications, mostly having Chinese links, citing threats to national security.

2 Jul 2020 4:23 pm
More trade bodies join campaign to boycott Chinese goods

Sunil Sharma, General Secretary of International Society for Small & Medium Enterprises said that there is a need to implement certain short- to long-term plans to reduce our import dependence on China.

2 Jul 2020 4:22 pm
Beware! Robinhood investors drive up ADAG & 178 other stocks up to 1,700%

Analysts have advised investors to adopt caution on these counters despite ongoing momentum.

2 Jul 2020 4:16 pm
This is a trading market; participate only on a selective basis: Andrew Holland

Volatility remains a cause of concern in the short term

2 Jul 2020 4:13 pm
AB Fashion's rights issue is attractively priced

The sharp fall in the stock price is mainly due to the rising leverage concerns amidst the pandemic.

2 Jul 2020 4:12 pm
Rajput death: Cops to quiz Bhansali, Kangana

Bollywood actor Sushant Singh Rajputs death by suicide is under investigation by the Mumbai police. In a new development, according to Times Now, film-maker Sanjay Leela Bhansali, actress Kangana Ranaut and film director Shekhar Kapur will be questioned by Mumbai police in connection with Rajputs death. #Breaking | @SLBfilm, @shekharkapur and Kangana Ranaut to be questioned by Mumbai Police over Sushant Singh Rajput TIMES NOW (@TimesNow) 1593680698000While Bhansali is lik

2 Jul 2020 4:10 pm
Gold prices steady off 8-year high as risk appetite sharpens

US gold futures rose 0.2 per cent to $1,783.60 per ounce.

2 Jul 2020 3:55 pm
Maruti launches vehicle lease subscription service

NEW DELHI: The country's largest carmaker Maruti Suzuki India on Thursday launched its vehicle lease subscription service for individual customers under 'Maruti Suzuki Subscribe' brand.The company said it has tied up with ORIX Auto Infrastructure Services Ltd, a subsidiary of ORIX Corporation, Japan, to launch the subscription service in India.The subscription service will begin as a pilot project in Gurugram and Bengaluru and will be initially available on Swift, Dzire, Vitara Brezza and Ertiga

2 Jul 2020 3:41 pm
India crosses nine million COVID-19 tests

India has crossed the nine-million mark in conducting COVID-19 tests, with 90,56,173 samples having been examined till July 1, officials said on Thursday. The officials of Indian Council of Medical Research (ICMR) also said there are now 1,065 testing labs in the country -- 768 in the public sector and 297 in private. The daily testing capacity is also growing fast, they said, adding it was around 1.5 lakh per day on May 25 and is more than three lakh per day now. As many as 2,29,588 samples wer

2 Jul 2020 3:33 pm
Calling Paytm a Chinese app is absurd: PhonePe CEO

In a freewheeling interview with ET Now, Sameer Nigam, founder and CEO of leading UPI app PhonePe, defends Paytm and its founder Vijay Shekhar Sharma and asks people not to vilify the company that they cheered for five years ago. ET Now (ET): The latest National Payments Corporation of India (NPCI) data showed digital payments bouncing back to pre-Covid levels. What trends have you seen? Sameer Nigam (SN): We feel that June has been good for us. Digital payments boomed during the first phase of

2 Jul 2020 3:33 pm
Axis Bank to raise Rs 15,000 crore via shares, securities sale; board approves fundraising plan

Axis Bank to raise Rs 15,000 crore via shares, securities sale; board approves fundraising plan

2 Jul 2020 3:22 pm
Axis Bank to raise Rs 15,000 crore via shares, securites sale; board approves fund raising plan

Axis Bank to raise Rs 15,000 crore via shares, securites sale; board approves fund raising plan

2 Jul 2020 3:22 pm
Railways opens doors for private players, invites proposals to operate passenger trains on 109 routes

Railways opens doors for private players, invites proposals to operate passenger trains on 109 routes

2 Jul 2020 3:08 pm
NSE launches two more Bharat Bond indices

The Bharat Bond Index series follows a unique target maturity date structure.

2 Jul 2020 2:38 pm
RBIs liquidity scheme will prevent distressed NBFCs from defaulting: Capri Global Capital

MFIs, HFIs and NBFCs will get another three months to mobilise the funds

2 Jul 2020 2:37 pm
Now save contacts on WhatsApp using QR codes

Now save contacts on WhatsApp using QR codesThe Facebook-owned company also announced animated stickers features for all its users.

2 Jul 2020 2:35 pm
Buy Minda Industries, target price Rs 320: ICICI Direct

The brokerage continues to like Minda for its success in growing far ahead of ancillary pack and OEM clients over the years.

2 Jul 2020 2:23 pm
JSPL posts 12% QoQ rise in sales volume for Q1FY21

The company's export sales contributed to 58 per cent of total sales volume during this period.

2 Jul 2020 2:18 pm
Share market update: PSU bank shares rise; SBI up over 1%

The Nifty PSU Bank index was trading 0.7 per cent up at 1490.05.

2 Jul 2020 2:08 pm
Share market update: FMCG shares mixed; United Breweries gains 3%

The Nifty FMCG index was trading 0.09 per cent up at 30259.4.

2 Jul 2020 2:01 pm
Granules CMD on how pharma industry can become self-reliant

Granules CMD on how pharma industry can become self-reliant

2 Jul 2020 2:00 pm
Edelweiss spikes 5% on reports of stake sale in EGIA

Edelweiss is likely to announce final transactions within a week.

2 Jul 2020 1:52 pm
Tata Power to raise Rs 2,600 crore from Tata Sons; share sale at 15% premium

The power generation and distribution company said it will allot 49,05,66,037 shares to Tata Sons at Rs 53 per share, meaning a premium of 15 per cent from the last close.

2 Jul 2020 1:50 pm