It has been ranked 96th in the 2020 list released by Fortune on August 11, the highest any Indian company has been ranked on the Fortune Global 500 list. Companies are ranked by Fortune basis their total revenues for their respective fiscal years ended on or before March 31, 2020. … [Read more...] about Mukesh Ambani’s Reliance Industries now among top 100 global companies
An investment from Kirin or other investors would help Bira which has made losses in recent years and been hit by the coronavirus pandemic, just like the rest of the beer industry. It has said it aims eventually to list on the stock market. … [Read more...] about Indian craft brewer Bira in talks with foreign beer makers over possible stake sale
"We wish to inform you that the committee of directors -QIP 2020 of the Corporation at its meeting held today approved the allotment of..securities to eligible qualified institutional buyers pursuant to the issue," HDFC said in a regulatory filing. … [Read more...] about HDFC raises Rs 10,000 crore equity capital in QIP; issues warrants and bonds
Apar Industries reported a topline de-growth of ~35% yoy during Q1 FY21 primarily due to national lockdown in Apr’20 which impacted domestic sales. Delays in execution at Customer end due to labor issues and logistical challenges impacted business. While the Conductor segment reported 31% decline in revenues, Oil and Cables segment reported de-growth of ~43% and ~37% respectively. The decline across segments was due to COVID-19 impact. Exports, however grew 11% yoy and share of exports rose to 47% in Q1 FY21 (27% in Q1 FY20). Overall margin on consolidated basis declined 397 bps yoy (to 2.9%) primarily due to COVID related costs and higher overhead expenses. During the quarter, the Company received new orders worth ~Rs.3.2 bn in conductor segment. New order inflows were significantly lower yoy with delays in awarding new tender due to postponement of meetings at government authorities end. Considering the significant COVID impact across all the segments, we cut our estimates for … [Read more...] about Buy Apar Industries; target of Rs 360: YES Securities
Especially if a crash plays out in a similar way to an earlier one, says Mohan Ranganathan, an aviation safety expert who was part of the committee that was set up after the Mangalore crash to suggest way to improve safety standards. "Initial reports have said that there is similarity in the two crashes in Kozhikode and Mangalore, despite them being 10 years apart. Same mistakes committed point to a lack of proper training, or a system," he says. … [Read more...] about Air India Express crash | Do investigators take the easy way out by blaming pilots?