COMPANIES & SECTORS


IANS 22 September 2022
Leading IT company Wipro has terminated 300 employees found to be moonlighting with its key rivals at the same time, its Chairman Rishad Premji said on Wednesday.   Speaking at the All India Management Association (AIMA) National Management Convention, Premji termed moonlighting is a...

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IANS 22 September 2022
In the latest development in the Rs 22,842 crore fraud allegedly committed by ABG Shipyard company, the Central Bureau of Investigation has arrested it's promoter Rishi Kamlesh Agarwal.   He will be produced before the Rouse Avenue Court in Delhi on Thursday. The CBI will seek his...

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IANS 21 September 2022
 In a temporary measure to rationalise cost, airline SpiceJet has decided to place nearly 80 pilots on leave without pay for a period of three months.   "This measure, which is in line with SpiceJet's policy of not retrenching any employee which the airline steadfastly followed even...

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IANS 20 September 2022
Former Infosys director TV Mohandas Pai slammed Ritesh Agarwal-run Oyo for allegedly misleading investors via 'fake accounting' as the hospitality major reported its maiden positive EBITDA (earnings before interest, taxes, depreciation and amortisation) during the first quarter of the current...

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IANS 20 September 2022
Credit rating agency Moody's Investors Service on Tuesday said it has withdrawn Kalyan Jewellers India Limited's (KJIL) B2 long-term corporate family rating.   The rating outlook prior to withdrawal was stable.   "In view of the current market conditions, the company has...

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IANS 19 September 2022
Seven out of the total 16 coal blocks issued to State-owned power sector entities or PSUs like National Thermal Power Corporation (NTPC), Damodar Valley Corporation (DVC), Neyveli Lignite Corporation (NLC), THDC (a mini-Ratna company under NTPC) and Patratu Vidyut Utpadan Nigam Ltd (PVUNL - a...

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IANS 19 September 2022
IDBI Trusteeship Services has asked the administrator of Reliance Capital (RCap), Nageswara Rao Y to withdraw the allegations of breach of confidentiality.   In a letter to Mr Rao, IDBI Trusteeship Services said the allegations have been made on the basis of a media article which said...

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IANS 19 September 2022
Ride-hailing major Ola on Monday clarified that nearly 200 engineers, including some in the software vertical, have been asked to go from its 2,000-strong engineer workforce -- 10 per cent of the headcount -- as part of a larger restructuring exercise towards its electric dream.   The...

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IANS 15 September 2022
The enforcement directorate (ED), after conducting raids at multiple locations belonging to payment gateways, viz., Paytm and PayU, in connection with a case of Chinese loan apps, asked Paytm to freeze certain amounts from a few merchant IDs (MIDs).   Sources said the raids were...

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IANS 15 September 2022
With a view to regulate the pre-owned vehicles market in the country, the ministry of road transport and highways (MoRTH) has issued a draft notification to promote ease of doing business and transparency in the sale and purchase of registered vehicles through dealers.   The pre-owned...

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Moneylife Digital Team 14 September 2022
Developers, who had jumped into the mall development business without understanding the demographics and demand, are biting their nails. In the past few years, many ghost malls have sprung up in the organised retail sector in India and almost 57 malls from across the country, are in different...

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IANS 14 September 2022
The assets under management (AUM) of housing finance companies (HFCs) are expected to grow 10%-12% in this financial year 2022-23, against 8% in the previous financial year, mainly due to home loans, which could grow 15% year-on-year (y-o-y), said CRISIL.   Last fiscal, HFC growth was...

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IANS 13 September 2022
Indian IT major, Infosys has come cracking down on moonlighting (dual employment) and warned employees that, if found out, it could lead to termination of services, sources said on Tuesday.   However, since the job market is still hot in Bengaluru, despite fears of US recession and...

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IANS 13 September 2022
Amid tough global market conditions, tech giant HCL Technologies has reportedly laid off 350 employees globally, including in India, Guatemala and the Philippines, who were working on a Microsoft news project, media reports said.   According to reports, the workers, who were employed...

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IANS 12 September 2022
In a new dimension to the Dewan Housing Finance Ltd (DHFL) fraud, an apex banking union and the staff of the UTI-AMC have demanded a 'forensic audit' into their company's purported 'Rs 2000-crore exposure' into the scam-hit group of Dheeraj R Wadhawan and Kapil R Wadhawan.   The...

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Moneylife Digital Team 08 September 2022
Retail auto sales in August 2022 increased 8% on low base recorded in the previous year. However, compared with the pre-COVID month (August 2019), auto sales are still down 7%, says the Federation of Automobile Dealers Associations (FADA).   In a release, Manish Raj Singhania,...

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IANS 08 September 2022
The profitability of the domestic broking industry fell to 34 per cent in Q1FY23 from 38 per cent in the similar period last year due to geopolitical concerns and the adverse macroeconomic outlook that affected investor mood, according to the ICRA release.   This was along with a...

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Moneylife Digital Team/ IANS 07 September 2022
Ravi Narain, former managing director and chief executive officer (MD&CEO) of the National Stock Exchange (NSE), was sent to a two days custody of the enforcement directorate (ED) by Delhi's Rouse Avenue court. On Tuesday, he was arrested in connection with the Prevention of Money Laundering...

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IANS 07 September 2022
The Delhi High Court on Tuesday granted bail to S. Eswara Reddy, L Praveen Kumar and Dinesh Dua, accused in a bribery case registered by CBI in relation to the waving of the Phase-3 trial of "Insulin Aspart Injection", produced by Biocon Biologics.    On June 21, the CBI had arrested...

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IANS 06 September 2022
The Supreme Court on Monday issued notice on a plea claiming glaring inaction by central agencies—the central bureau of investigation (CBI), the enforcement directorate (ED) and the serious frauds office (SFIO)—into the alleged criminal theft and money laundering of Rs12,800 crore from over...

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