Cognizant reports 2.3% YoY dip in revenue in December quarter
Thu, Feb 4, 2021 12:55 PM

Cognizant reports 2.3% YoY dip in revenue in December quarter

Cognizant posted a revenue decline of 2.3% to $4.2 billion year-on-year for the quarter ending December 2020. Net income was down to $316 million in Q4 FY20 from $395 million for the same quarter last year. Cognizant follows the calendar year for its fiscal. The company reported a 24% drop to $1,329 million YoY in net profit for the year ended December 2020.

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Tata Motors passenger vehicle business piled up losses of Rs 11,173 crore
Thu, Feb 4, 2021 12:45 PM

Tata Motors passenger vehicle business piled up losses of Rs 11,173 crore

Tata Motors' passenger vehicle (PV) division has piled up losses amounting to Rs 11,173 crore as at end of June 2020 while the division's valuation has been fixed at Rs 9,417 crore. The PV division is being hived off into a separate entity for allowing the company to sell its stake in it to a strategic partner. It also controls the electric vehicle business unit of Tata Motors

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Airtel surpasses Jio in net subscriber additions for 2nd straight quarter
Thu, Feb 4, 2021 12:35 PM

Airtel surpasses Jio in net subscriber additions for 2nd straight quarter

Jio's stronghold on the telecom market might slowly loosen as Airtel successfully added more subscribers for a second straight quarter. Airtel outpaced Jio’s net subscriber additions by a wide margin, with Airtel adding 14.2 Mn subscribers from Q3-20. In the previous quarter, Airtel added 13.9 Mn subscribers, as compared to Jio’s 5.2 Mn and 7.3 Mn subscribers respectively in the last 2 quarters.

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After SEBI bans Kishore Biyani, Future Group stocks hit lower circuit limit
Thu, Feb 4, 2021 12:25 PM

After SEBI bans Kishore Biyani, Future Group stocks hit lower circuit limit

Most Future Group companies' stocks hit their 5% lower circuit limit today after the SEBI banned the group’s chief executive officer, Kishore Biyani, from accessing the capital market for one year. In an order on Wednesday, SEBI said that its investigation found that Future Retail’s promoters including Biyani had traded the in the scrip while possessing undisclosed price sensitive information.

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Bengaluru's Confirmtkt acquired by Ixigo in stock & cash deal
Thu, Feb 4, 2021 12:15 PM

Bengaluru's Confirmtkt acquired by Ixigo in stock & cash deal

Ixigo acquired Bengaluru-based online train discovery and booking platform Confirmtkt for an undisclosed amount in a cash and stock deal. The founders of Ixigo will join the Confirmtkt board and existing investors, including Venture Catalysts, will be exiting the company fully as a part of the deal. Both companies will continue to run independently after the acquisition.

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Facebook executive Deborah Liu gets appointed as Ancestry.com CEO
Thu, Feb 4, 2021 11:50 AM

Facebook executive Deborah Liu gets appointed as Ancestry.com CEO

Ancestry.com Inc., the world’s largest consumer genealogy company, hired former Facebook Inc. executive Deborah Liu as its next chief executive officer. The new appointment will come into effect from March 1. Liu spent 11 years at Facebook, where she created and led Facebook Marketplace, the social media site’s classified advertisement service that has 800 million monthly users.

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HCL signs 5-year Digital Workplace Services agreement with Airbus
Thu, Feb 4, 2021 11:41 AM

HCL signs 5-year Digital Workplace Services agreement with Airbus

HCL Technologies on Thursday confirmed the signing of a five-year Digital Workplace Services agreement with Airbus. Financial details of the deal are yet to be disclosed. HCL will establish a modernised digital workplace to enhance the user experience and service quality for the majority of Airbus employees globally, a statement said.

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Crown Group signs MoU with TIDCO for aerospace cluster development in Salem
Thu, Feb 4, 2021 11:30 AM

Crown Group signs MoU with TIDCO for aerospace cluster development in Salem

The Crown Group on Thursday signed a memorandum of understanding (MoU) with Tamil Nadu Industrial Development Corporation (TIDCO) to develop an integrated aerospace cluster adjoining the Salem airport. "The cluster, which is part of the Tamil Nadu Defence Corridor, will house India''s first-ever indigenous MRO facility for military aircraft and equipment," the company revealed.

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Rs3,000cr to be raised by Ultratech Cement via US dollar denominated bond
Thu, Feb 4, 2021 11:20 AM

Rs3,000cr to be raised by Ultratech Cement via US dollar denominated bond

Ultratech Cement's board nodded a proposal raise up to Rs 3,000 crore via US dollar-denominated bonds issuance. ''The finance committee approved raising funds by way of issuance of foreign currency (USD) denominated bonds (Notes) aggregating up to USD 400 million, corresponding to Rs 3,000 crore, to be offered and sold within the United States to qualified institutional buyers' the company said.

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Jubilant Foodworks CFO Prakash Chandra Bisht resigns
Thu, Feb 4, 2021 11:10 AM

Jubilant Foodworks CFO Prakash Chandra Bisht resigns

Jubilant Foodworks CFO Prakash Chandra Bisht has resigned from the company with effect from February 15, 2021. He would be moving within the Jubilant Group as a Chief Financial Officer of another group entity. The Board will appoint his successor in due course. Jubilant FoodWorks is an Indian food delivery company holding the master franchisee for Domino's Pizza and Dunkin' Donuts.

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Procter & Gamble climbs a 52-week high after Q2 profit jumps 84%
Thu, Feb 4, 2021 11:00 AM

Procter & Gamble climbs a 52-week high after Q2 profit jumps 84%

Procter & Gamble (P&G) stocks climbed a 52-week high of Rs 12,395.90, a day after the FMCG reported an 84.37% increase in net profit to Rs 250.62 crore for the second quarter ended December 2020. The company, which follows July-June financial year, posted a net profit of Rs 135.93 crore in the year-ago quarter. It recorded a double-digit profit growth for the second consecutive year.

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Apollo Tyres stock climbs a 52-week high after 2-fold rise in Q3 profit
Thu, Feb 4, 2021 10:50 AM

Apollo Tyres stock climbs a 52-week high after 2-fold rise in Q3 profit

Apollo Tyres share price spiked over 11% intraday on February 4 after the company reported two-fold rise in Q3 profit. The company on February 3 announced more than two-fold increase in its consolidated net profit at Rs 444 crore for the Q3FY21 on the back of robust sales across domestic and international markets. It had reported a net profit of Rs 174 crore in the Q3FY20.

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Transport Corporation of India net profit increased by 25% to Rs40cr in Q3
Thu, Feb 4, 2021 10:40 AM

Transport Corporation of India net profit increased by 25% to Rs40cr in Q3

Transport Corporation of India posted its financial results for Q3 FY21. The company's PAT grew 25% on a standalone basis from Rs32.1cr in Q3FY20 to Rs40.1cr. Total revenues gained 10.8% to Rs723.8cr from Rs653.1cr in Q3FY20. Vineet Agarwal, MD, TCI stated, "All our business segments have shown very strong growth from pre-Covid levels in both revenue and profit".

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LPG price increased by Rs 25 in metros on February 4
Thu, Feb 4, 2021 10:30 AM

LPG price increased by Rs 25 in metros on February 4

Oil marketing companies increased the non-subsidised liquefied petroleum gas (LPG) price by Rs 25 in metros on February 4. After the current hike, the price of cooking gas in Delhi was seen at Rs 719 per cylinder (14.2 kg), in Kolkata at Rs 745.50, Mumbai at Rs 719 and Rs 735 in Chennai. The country's LPG penetration now stands at 99.5 per cent, reaching out to 28.9 crore consumers.

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Kamdhenu announces 186% sequential growth in Q3 PAT at Rs 7.2 crore
Thu, Feb 4, 2021 10:20 AM

Kamdhenu announces 186% sequential growth in Q3 PAT at Rs 7.2 crore

Kamdhenu Limited, the country's largest manufacturer and seller of branded TMT Bars, in the retail segment, posted Profit After Tax (PAT) at Rs7.2cr in the Q3 and 9M ended December 31, 2020. The company had posted a net loss of Rs 13.03 crore during the October-December period of FY20. The PAT increased 186% QoQ from Rs2.51cr as expenses reduced significantly.

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