Business, Companies, 24th May 2018, News & Stories from India

Thursday, Apr 18, 2024 | Last Update : 09:02 PM IST

Business Companies 24 May 2018

Business, Companies, 24 May 2018

The National Company Law Appellate Tribunal on Thursday admitted a petition filed by banks against the NCLT order which had directed Jaiprakash Associates to return nearly 760 acres of land to its subsidiary Jaypee Infratech.

NCLAT admits banks' petition over Jaypee land

The bench fixed July 13 as the next date of hearing.

24 May 2018 2:08 PM

Shares of Tata Motors on Thursday tumbled over 8 per cent after the company reported 49.82 per cent decline in consolidated net profit for the March quarter.

Tata Motors shares crack over 8 per cent after Q4 results

It had posted consolidated net profit of Rs 4,336.43 crore in the corresponding period of last fiscal, Tata Motors said in a BSE filing.

24 May 2018 1:59 PM

Shares of Jet Airways on Thursday plunged over 12 per cent after the company reported a standalone net loss of Rs 1,036 crore in the March quarter.

Jet Airways shares hit 52-week low on weak earnings

The total income also declined by 3.44 per cent to Rs 6,055 crore during the quarter.

24 May 2018 1:48 PM

The Adani Group has invested Rs 500 cr in Adani Capital, it's financial arm, in a bid to offer customised solutions to new entrepreneurs.

Adani Group to provide customised solutions to entrepreneurs

The move comes amid widespread caution among public sector banks over the recent spate of towering bad loans.

24 May 2018 1:40 PM

On May 14, rates have gone up by Rs 2.84 a litre in case of petrol and Rs 2.60 in diesel.

Windfall oil tax on ONGC in offing to soften fuel prices

The Centre levies Rs 19.48 as excise duty on a litre of petrol and Rs 15.33 on diesel.

24 May 2018 1:14 PM

The 10 per cent stake was split between OVL, IOC and BRPL in 40:30:30 ratio.

OVL FY18 net profit up 29 per cent on higher oil production

Consolidated net profit in 2017-18 fiscal at Rs 981 crore was 29.6 per cent higher than Rs 757 crore.

24 May 2018 12:53 PM

Uber trims losses and grows business, plans new stock sale

Uber cut its losses almost in half and its ride bookings jumped 51 per cent since one year ago.

24 May 2018 12:53 PM

Total income for the quarter under review went up by 6.99 per cent to Rs 990.48 crore, as against Rs 925.75 crore.

City Union Bank posts 18 pc rise in net profit at Rs 152.12 crore

Shares of the bank were trading Rs 181.90 apiece, down 1.17 per cent, on BSE.

24 May 2018 12:45 PM

Debt-ridden Bhushan Steel, which has been acquired by Tata Steel under the insolvency process, has sought 90 days extension to file its audited financial results for the quarter and year ended March 31, 2018.

Bhushan Steel seeks 90 days extension to file Q4, FY18 results

Tata Steel, which won the bid for Bhushan Steel Ltd (BSL), completed the acquisition of controlling stake of 72.65 per cent.

24 May 2018 12:25 PM

Revenue rose 11 per cent to $10.6 billion, bringing its full year revenue to a 3-year high of $45 billion.

China’s Lenovo swings to biggest loss in almost a decade

Lenovo’s total loss for the year ending in March was $189 million, down from a profit of $535 million a year ago.

24 May 2018 10:24 AM

MobiKwik's users can, by default, use their mobile number as their own VPA which will be '@ikwik'.

MobiKwik launches UPI on platform, offers own VPA handle

MobiKwik is the first in the industry to offer UPI access to a huge base of three million merchants on its app.

24 May 2018 8:39 AM

The Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018 will protect the interest of home buyers by treating them as financial creditors which will make it easier for them to recover their investments.

Cabinet lets home buyers have creditors tag in IBC

Under the code, financial creditor implies any person to whom a financial debt is owed.

24 May 2018 1:43 AM

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Syed Ata Hasnain