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Corporate

Incentives and lower import duties on offer for Tesla?

Centre mulls lowering import duty for Tesla if it manufactures in India

Jul 27, 2021

Responding to a tweet on when Tesla will enter the Indian market, Musk recently said, “We want to do so, but import duties are the highest in the world by far of any large country!"

Nasa veered from its original dual-source acquisition strategy (Source: Reuters)

Jeff Bezos offers $2 bn to NASA in exchange for moon mission contract to Blue Origin

Jul 27, 2021

Blue Origin would waive payments in the government’s current financial year and the next ones after that up to US$2 billion, and pay for an orbital mission to vet its technology.

A growing number of companies have started to accept virtual currencies for payment

Amazon says it is not accepting Bitcoin as payment

Jul 27, 2021

"Notwithstanding our interest in the space, the speculation that has ensued around our specific plans for cryptocurrencies is not true," said a spokesperson from Amazon

This would aggregate to a total consideration of over Rs 2,222 crore (Source: PTI)

Reliance Retail Venture's open offer for Just Dial shareholders to begin on Sept 13

Jul 27, 2021

RRVL had announced the acquisition of 40.95 per cent stake in Just Dial for Rs 3,497 crore and said it will make a public announcement for an open offer for acquiring up to 2.17 crore equity shares of Just Dial

Shares of GlaxoSmithKline Pharmaceuticals Ltd closed at Rs 1,726.20 per scrip on BSE

Drug firm GSK Pharma's Q1 net profit rises 9% to Rs 121 crore

Jul 27, 2021

The company had posted a net profit of Rs 110.83 crore for the corresponding period of the previous fiscal, GlaxoSmithKline Pharmaceuticals said in a regulatory filing

Paytm has filed for Rs 16,600 crore ($2.2 billion) IPO that will likely be the largest ever in India

Paytm to launch IPO by October End; expects to break even in 18 months

Jul 26, 2021

The startup, which counts China's Ant Group and Japan's SoftBank among its backers, narrowed its operating loss to Rs 1,655 crore in the financial year to end-March 2021 from Rs 2,468 crore a year before

To date, over 98% of all employees have been covered with at least one COVID-19 dose

Reliance Foundation administers over 10 lakh COVID vaccines to RIL employees, family members

Jul 26, 2021

Reliance Foundation, the philanthropy arm of India's largest company by market value, launched its vaccination drive in April. The drive covered employees and their families as well as its associates and partners

Total income declined to Rs 2,187 crore, as against Rs 2,655 crore during the same quarter last year

Mahindra Finance posts Rs 1,573 cr loss in Q1 of FY22

Jul 26, 2021

Total income declined 16 per cent to Rs 2,567 crore in the quarter from Rs 3,069 crore in the year-ago period, Mahindra Finance said in a release

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Adani group firms 'run afoul of Indian laws', probe them on FPI investments: Mahua Moitra to FM

Jul 26, 2021

Six companies of the Adani Group are listed and traded on recognised stock exchanges in India. The holding of FPIs is based on the daily trading of shares

The National Infrastructure Pipeline announced by the Centre has estimated a funding requirement of over $1.4 trillion by 2025

REITs, InvITs gaining traction in India; investment trusts raise over $9.7 bn in capital: EY

Jul 26, 2021

The EY report titled 'REITs and InvITs - financing urbanization and infrastructure in India' states that both fundraising avenues - REITs and InvITs - are gaining traction in India similar to other developing countries

L&T bagged orders worth Rs 26,557 crore during Q1

L&T Q1 profit grows to Rs 1,174 crore; revenue up 38% to Rs 29,335 cr

Jul 26, 2021

L&T attributed high revenue to a healthy execution of projects despite the second wave of Covid-19 affecting operations at many locations