Industry News, Company News, Manufacturing News, Service Sector - The Hindu

Byju’s acquires WhiteHat Jr for $300 million

PTI Coding is fast emerging as a key skill for the futures, says the education technology firm

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The revised lending rates will be effective from August 7, Canara Bank said.

Canara Bank slashes MCLR by up to 30 bps across various tenors

PTI The six-month MCLR has been cut to 7.40% from 7.50%, the bank said.

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Baba Ramdev at the launch of Coronil. File Photo -

Coronavirus | Coronil demand at 10 lakh packs a day, says Baba Ramdev

PTI Earlier in June, the AYUSH Ministry had restricted Patanjali from selling the drug as a cure for the virus instead allowing it to be sold only as an immunity booster.

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Representational image only.

Coronavirus | India’s service sector activity still severely restricted; contracts for 5th successive month in July

PTI The IHS Markit India Services Business Activity Index stood at 34.2 in July, slightly higher than 33.7 in June.

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RBI revises guidelines for opening Current Accounts

Canara Bank slashes MCLR by up to 30 bps across various tenors

Coronavirus | Coronil demand at 10 lakh packs a day, says Baba Ramdev

Byju’s acquires WhiteHat Jr for $300 million

Uber to hire 140 engineers in India

Coronavirus | Pharma firms Zenara, BDR get DCGI nod for Favipiravir versions

Coronavirus | India’s service sector activity still severely restricted; contracts for 5th successive month in July

The IHS Markit India Services Business Activity Index stood at 34.2 in July, slightly higher than 33.7 in June.

‘Entire B2C online sector to come within new consumer law ambit’

Legislation aims to clean up the segment, says official

Minimum ₹500 crore net worth must for licence to sell petrol, diesel to retail, bulk users

Last year, the government had relaxed norms for retailing of auto fuels, allowing non-oil companies to venture into the business — a move that could help private and foreign firms to enter the world’s fastest-growing market.

Sun Pharma unveils Covid drug FluGuard at ₹35 a tablet

Favipiravir is the only oral anti-viral treatment approved in India for the potential treatment of patients with mild to moderate Covid-19 disease.

Sony's profit increases as people stay at home playing video games

The company warned that its movies division would likely suffer for two or three years due to delays in film projects and limits to theater seating because of the pandemic.

Watch | UAE launches first nuclear power plant

A video on Barakah, Arab world's first nuclear plant

Sashidhar Jagdishan to replace Aditya Puri as HDFC Bank’s new MD & CEO

The Reserve Bank of India (RBI), which was given a list of candidates in an order of priority, conveyed its approval to Mr. Jagdishan’s name late last evening.

Moody’s upgrades Yes Bank ratings

Moody’s Investors Service has upgraded Yes Bank’s long-term foreign currency issuer rating to B3 from Caa1. It has also upgraded the bank’s long-term

Google to sell Pixel 4a phone in India in Oct.

Nanda Ramachandran, senior director, Google, said at a virtual briefing that the delay in the launch of the smartphone in India was mainly due to COVID-19

Bank of India net triples to ₹844 cr., NPAs decline

Muted loan growth causes dip in NIM

Demand returns, 60% of our outlets are up and running: Roca MD

Positive growth in Q1 despite hit in sales in March; expect pre-COVID demand levels by Sept.: Roca MD

Wockhardt unit to supply COVID-19 vaccines in U.K.

Wales facility will ‘fill finish’ the doses

After 2 months of gains, fuel demand slips

Refined fuel consumption in July slipped from June, according to preliminary data, indicating slower industrial activity as high retail prices, floods

Euro zone manufacturing returns to growth in July

PMI reveals modest expansion, zone’s first since early 2019

Manufacturing contracts for fourth straight month: July PMI

Contraction quickens on muted demand amid prolonged closures, survey shows

HSBC says net profit plunged 96% in 2Q as pandemic took hold

HSBC said its lending in the last quarter fell 3% to USD 29 billion while deposits rose 6% to USD 85 billion as customers saved more and spent less.

Wockhardt strikes deal to supply COVID-19 vaccines to U.K.

Indian drugmaker Wockhardt Ltd. will supply millions of doses of multiple COVID-19 vaccines, including that being developed by AstraZeneca and Oxford

Bank of India Q1 net profit rises over three-fold to ₹844 cr

State-owned Bank of India (BoI) on Monday reported over three-fold rise in net profit to ₹843.60 crore for the quarter ended June 30, as pressure of

Insurance agents | Do buyers know what they want?

Understand your needs, do adequate research before bringing an agent into the picture

Should you time Mutual Fund investments?

Mutual funds, unlike stocks, are not buy low, sell high instruments

Discoms’ outstanding dues to power gencos rise 47% to ₹ 1.33 lakh crore in June

In June 2020, the total overdue amount, which was not cleared even after 60 days of grace period.

July sales hint at auto sector revival

Largest car maker Maruti Suzuki posted 1% growth in wholesale deals

ATF price hiked 3%; no change in LPG, petrol, diesel rates

Aviation turbine fuel (ATF) rates went up by ₹1,304.25 per kilolitre or 3% in the national capital to ₹43,932.53 per kl, according to a price notification of state-owned oil companies

IOC Q1 profit almost halves, revenue slides

Indian Oil Corporation (IOC) reported a decline of almost 47% in standalone net profit to ₹1,911 crore for the first quarter ended June 30, 2020.

Tata Motors’ Q1 loss more than doubles to ₹8,438 cr.

CV, PV sales plunge; JLR no exception

SBI net jumps 81%, NPAs shrink

Net interest income rises 16% to ₹26,642 cr. while non-interest income climbs 18%

Minister supports 100% FDI in affordable rental housing

Portal, app for homebuyers to connect with real estate developers launched.

Core sector output shrinks 15% in June, fertilizers buck trend

Barring fertilizer, all seven sectors - coal, crude oil, natural gas, refinery products, steel, cement, and electricity - had recorded negative growth in May

Facebook, Google bet on Jio pact to tap opportunities in India

Facebook CEO Mark Zuckerberg said India “should be one of the faster-growing business opportunities” for the company.

Mukesh Ambani calls for urgent policy steps to do away with 2G

India still has 300 million mobile subscribers trapped in the 2G era.

Taxes, levies in telecom sector high, need to be reviewed thoroughly: Sunil Mittal

“Telecom resources like spectrum, levies should not become a source for the exchequer, but should become a force multiplier in ensuring economic momentum becomes faster and gets accelerated,” he said.

IOC Q1 net profit falls 47% to ₹ 1,910.84 crore

Income from operations fell to ₹ 88,936.54 crore in April-June.

SBI’s Q1 profit surges 81% to ₹ 4,189 crore

The lender had reported a net profit of ₹ 2,312.02 crore in the April-June quarter of 2019-20

Enterprises should adopt ‘always verify and never trust’ approach to ensure safety: PwC

“In the past, securing an organisation was about establishing walls around the data centre.”

No BS-IV vehicles to be registered before deciding on their sale during lockdown, says SC

The Court has asked automobile dealers association for details of sale of vehicles through online or direct sale during the period.

Tata Capital to invest ₹225 cr. in Biocon Biologics for 0.85% stake

Deal values Biocon Biologics an equity valuation of $3.5 billion.

Taking on SpaceX, Amazon to invest $10 bln in satellite broadband plan

The project will also benefit wireless carriers deploying 5G and other wireless service to new regions

Nokia posts surprise Q2 profit rise ahead of CEO change

Nokia is lagging behind its rivals China's Huawei and Sweden's Ericsson in 5G network sales.

Facebook smashes revenue estimates amid pandemic, forecasts ad growth

Facebook said in April it was seeing signs of stability for sales in the first three weeks of the quarter after a plunge in March.

Apple delivers blowout earnings but new iPhones face delays amid COVID-19

Other major tech companies Amazon.com Inc and Facebook Inc also posted results that topped Wall Street targets, sending their shares up.

Alphabet sales drop for first time on Google ad cutbacks in pandemic

New data privacy laws, including one that went into effect this month in Google's home state of California, are also depressing ad prices.

Amazon posts biggest profit ever at height of pandemic in U.S.

Amazon had forecast it might lose money in the just-ended second quarter.

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