Mall footfalls down 75%-80% – Prestige Estates Projects

Prestige Estates Projects Ltd, which operates nine malls including The Forum Mall in Bangalore, said footfalls are down 75%-80% at malls due to the COVID-19 pandemic. Speaking to investors after detailing the company’s June quarter results last week, company officials also said they were seeing signs of stress among customers of residential properties, even though […]

L&T’s AM Naik calls for tapping anti-China sentiment constructively

AM Naik, chairman of the country’s largest infrastructure development company Larsen & Toubro, today called upon the government to create the right ecosystem to channel the anti-China sentiment productively. “The strong anti-China sentiment within India and around the world is a possible game changer for domestic industry,” he said, delivering the chairman’s statement at the […]

NDTV survives COVID-19 quarter without posting losses; reverses pay-cuts

Continuing the theme of TV news companies defying the trend of the COVID-19 pandemic pushing media firms into losses, NDTV reported a profitable quarter for the Apr-Jun period and said it has reversed the pay-cuts installed for most of its employees. This follows rival TV Today also bucking the trend and reporting a profit of […]

TV Today reports better than expected performance

TV Today Network Ltd, the company that operates India Today and Aaj Tak news channels, reported better than expected numbers for the Apr-Jun period, thanks to surprising resilience in its TV channel revenues.. India Today, which depends on advertising for nearly all its top line, saw revenue from its TV broadcasting business fall by about […]

Lava Z66: Pure Android, Made in India phone for Rs 7,777

With many Indian consumers looking for non-Chinese phones to buy, Indian mobile handset brand Lava has launched a new made-in-India Android smartphone priced at Rs 7,777. Interestingly, despite the ‘made in India’ branding, the Geekbench listing of the phone seems to suggest that it has built using a Chinese chipset made by Unisoc. Most phones […]

No COVID impact: Fertilizer maker Coromandel posts strong quarter

Coromandel International Limited, which makes the famous GROMOR brand of fertilizers, reported strong financial performance for the Apr-Jun quarter, indicating that farming activity in South India continued apace even during the COVID-19 lockdown. The company reported a whopping 51% jump in its revenue for the Apr-Jun quarter compared to the same three months of 2019. […]

Glenmark says Favipiravir trial shows 29% faster recovery in COVID-19

Glenmark Pharmaceuticals Ltd said its trial of Favirpiravir showed a 28.6% faster recovery among those treated with the antiviral drug than on those who were on standard therapy. The 150-person trial showed “numerical improvements for the primary efficacy endpoint with 28.6% faster viral clearance in the overall population as measured by the median time until […]

HUL Q1 ad spend down a third, merger protects top line

Hindustan Unilever, the biggest advertiser in India, protected its profit margins during the Apr-Jun period by slashing its advertising budget by about 32%. Given that this is after merging GSK’s consumer healthcare business with itself, the actual decline in advertising is likely to have been in the 35% range. Even after adding GSK CH numbers, […]

Kerala confirms community transmission

Kerala has become the first state in India to confirm community transmission of COVID-19. Chief Minister Pinarayi Vijayan said community transmission has been confirmed in coastal areas of Thiruvananthapuram district, based on test results from today. “We have come to the conclusion that COVID is now in community transmission in areas like Poomthura and Pulluvila,” […]

Trivandrum close to community transmission with 105 local cases in 24 hours

Kerala took a step closer to officially confirming local transmission of COVID-19 in Thiruvananthapuram city with the district reporting a whopping 105 cases of local transmission today. Five cluster outbreaks have been identified in Thiruvanthapuram, Chief Minister Pinarayi Vijayan said today. Two ‘large community cluster’ outbreaks of Coronavirus have been identified in Kerala, one in […]

COVID-19: Thomas Cook offers ultra affordable Europe vacations

With the travel and hospitality industry reeling from the impact of the Coronavirus pandemic, Thomas Cook — one of India’s top holiday brands — is offering shorter, and far more affordable, European vacations. These five-day vacations will start from just Rs 19,700, and also come with EMI payment options. However, the list of destinations comprise […]