The who’s who of Indian entertainment industry to participate in COVID-19 relief concert I FOR INDIA
I for India concert trailer: Bollywood bigwigs and international celebs join forces for COVID-19 relief fund
Reliance Jio Q4 net profit at <span class='webrupee'>₹</span>2,331 crore, up 72% QoQ
Average revenue per user (ARPU) increased to ₹130.6 during the quarter.Data consumption continued to grow exponentially to 11.3 GB per user per month from 11.1 GB in the December quarter
Covid-19 impact: Automakers' domestic sales draw a blank in April
Auto companies, however, managed to export vehicles due to resumption of port operations.Maruti, Hyundai, M&M, Toyota Kirloskar, MG Motor reported zero domestic car sales for April
Reliance sells 1.15% stake in Jio Platforms to PE firm for <span class='webrupee'>₹</span>5,655 crore
Reliance is raising funds at a breakneck pace as it attempts to cut its debt and secure its capital needs amid a sharp downturn in the global economy.Silver Lake is a major technology investor, with over $40 billion in combined assets under management and committed capital
Pharma sales drop 19% in April vs March on demand slump
The worst hit among the top 20 companies was Cipla, whose sales fall by 28%, while that of Zydus Cadila, GSK Pharma and Dr Reddy’s down by 25%, each.There seemes to be less panic buying of medicines for chronic illnesses in the last two weeks of April
NCLT nods CarVal's Rs2,300 cr bid for Uttam Value Steel, Uttam Galva Metallics
The resolution plan would allow lenders to get close to 40% of their claims for both the companies.While the joint resolution plan was approved by the committee of creditors (CoC) in April last year, SSG Capital, the other bidder for these assets contested the decision
Over 1,100 customers to lose out in CKP Co-operative Bank's liquidation
These customers are those who have deposited more than ₹5 lakh in their accounts .RBI cancelled the bank's licence citing its highly adverse financial position
Edtech platform Classplus raises $9 mn in Series A round led by RTP Global
Over 3,500 coaching centres across 70 cities and towns in India use the platform, says Classplus, which was launched in 2018
Freshworks appoints CFO who helped with Zuora's IPO
Prior to Zuora, Sloat held executive finance roles at firms such as NetApp Inc. and Siebel Systems, Inc
MoD inks <span class='webrupee'>₹</span>1,200-cr deal with Tata Power SED to upgrade 37 airbases
This is the phase two of the Modernisation of Airfield Infrastructure programme, the ministry said