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Monday, July 13, 2020
Indian Oil, Indian Oil Corporation, Indian Oil net results, Indian Oil Q4 losses, Business news, Indian Express

IOC posts Q4 net loss of Rs 5,185 cr on inventory losses, lower refining margins

June 25, 2020 7:30:51 am

The gross refining margin, or the difference between the cost of crude and total value of petroleum products from refining, fell to $0.08 per barrel in FY20 from $5.41 in the previous fiscal.

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CCI approves Facebook’s 9.99 per cent stake buy in Jio Platform

June 25, 2020 12:24:59 am

The acquisition was to be done through Jaadhu Holdings LLC. In a tweet, the CCI said it has approved "acquisition of 9.99 per cent stake in Jio Platforms by Jaadhu Holdings LLC".

DHFL auditor reports fair value loss of Rs 18,853 crore, ICD dues of Rs 3,786 crore

June 24, 2020 5:07:35 am

On November 20, 2019, the RBI superseded the board of directors of DHFL — managed by the Wadhawans — owing to governance concerns and defaults in meeting various payment obligations and appointed an Administrator to run the company.

Cargill makes foray into chocolate business in India

June 23, 2020 5:08:44 pm

Cargill started operations in India in 1987. It has businesses in refined oils, food ingredients, grain and oilseeds, cotton, animal nutrition, bio-industrial and trade structured finance.

Fitch revises outlook of IOC, NTPC among other state-owned firms to negative

June 23, 2020 1:56:10 pm

The PSUs whose rating outlook has been revised include IOC, Bharat Petroleum Corp Ltd (BPCL), Oil India Ltd (OIL), GAIL India Ltd, Power Grid Corp of India Ltd and NTPC Ltd.

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Mukesh Ambani joins club of world’s 10 richest people

June 22, 2020 12:49:39 pm

Ambani, who owns 42 per cent of Reliance, has benefited from a flurry of investment into the company’s digital unit, Jio Platforms Ltd., that Reliance said has made it net-debt free ahead of a March 2021 target.

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NCLAT overrules BHEL objections, gives nod to Surana Power liquidation

June 20, 2020 1:21:59 am

Surana Power, which was admitted into insolvency in January 2019, did not receive any valid resolution plans, and was therefore ordered to be liquidated by the Chennai Bench of National Company Law Tribunal (NCLT).

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LIC stake sale: Govt invites bids for pre-IPO transaction advisors

June 20, 2020 1:08:29 am

The Centre has proposed to engage up to two pre-IPO transaction advisors for assisting the Department of Investment and Public Asset Management (DIPAM) in the preparatory processes leading to the IPO of LIC.

Cadila Healthcare Q4 net profit declines 15 per cent at Rs 392 crore

June 19, 2020 5:31:36 pm

The company had posted a net profit of Rs 460.1 crore for the corresponding period of 2018-19, Cadila Healthcare said in a BSE filing.

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Franklin Templeton crisis: SC transfers all cases to Karnataka High Court

June 19, 2020 4:53:06 pm

Franklin Templeton, India’s ninth-largest fund house, had in April notified its investors that it was winding up Franklin India low duration fund, dynamic accrual fund, credit risk fund, short term income plan, ultra-short bond fund and income opportunities fund worth nearly Rs 28,000 crore from April 24.

Bajaj Electricals posts Q4 net loss at Rs 81 lakh

June 19, 2020 4:16:28 pm

It had logged a net profit of Rs 23.08 crore in the corresponding January-March quarter a year ago, Bajaj Electricals said in a regulatory filing.

Finance Ministry invites bids from transaction advisors for LIC IPO

June 19, 2020 2:43:21 pm

The advisors can submit their bids beginning Friday, till July 13, 2020. The bids would be opened by DIPAM on July 14.

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ICICI Bank divests stake in ICICI Lombard for Rs 2,250 crore

June 19, 2020 12:15:24 pm

"Pursuant to the approval of its board, the bank has divested 18,000,000 equity shares of face value of Rs 10 each of ICICI Lombard General Insurance Company," ICICI Bank said in a filing to BSE.

RIL now net-debt free after raising Rs 1.69 lakh crore in less than two months: Mukesh Ambani

June 19, 2020 11:50:03 am

In a filing to the stock exchanges, Reliance Industries (RIL) said that it has raised over Rs 168,818 crore in just 58 days. Of this, investments by global tech investors in Jio Platforms stands at Rs 115,693.95 crore, for a stake sale of 24.70 per cent. Apart from this, the company has also raised Rs 53,124.20 crore through the country's biggest rights issue.

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Saudi Arabia’s PIF invests Rs 11,367 crore in Jio Platforms

June 19, 2020 1:03:46 am

PIF is the sovereign wealth fund of Saudi Arabia and, as part of its mandate to diversify its economy, has made its largest investment in the Indian economy till this date.

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Standard Life to sell 2.82% stake in HDFC AMC via offer-for-sale

June 17, 2020 3:29:38 pm

In a regulatory filing to stock exchanges, Standard Life has proposed to sell up to 60 lakh equity shares, representing 2.82 per cent of the total issued and paid-up equity share capital of HDFC AMC through the offer-for-sale mechanism.

Jio to capture 48% market share by FY25, says Bernstein report

June 17, 2020 1:33:17 pm

All together Reliance Industries has monetised 22.38 per cent of Jio Platforms and raised Rs 1.04 lakh crore in the process.

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HQ being shifted, almost 1/5th laid off within 5 mths of Sachin Bansal acquiring DHFL General Insurance

June 17, 2020 3:21:37 am

Bansal has announced to relocate company headquarter from Mumbai to Bengaluru by December 31, 2020 and has also laid-off over 40 employees (nearly one-fifth of the total employee strength) including the CEO and other senior and mid-management officials.

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Baghjan fire: IOWU wants pvt contractors out

June 17, 2020 3:01:17 am

Well number 5 of the Baghjan oil field suffered a blowout on May 27 during a ‘workover’ procedure aimed at extending the productivity of the well, handled by John Energy Private Ltd, contracted by OIL for the process.

Swift completes 15 years with sale of over 22 lakh units: Maruti Suzuki

June 16, 2020 2:23:01 pm

With more than 22 lakh customers, the model has been the number one premium hatchback for 14 years, Maruti Suzuki India (MSI) said.