After a gap of almost three years, Wipro Consumer care, part of Azim Premji’s Wipro Group, on Monday struck a new deal in the consumer goods space. The company said that it has acquired Philippines-based personal care company Splash Corporation for an undisclosed amount.

The transaction strengthens Wipro’s consumer care portfolio in personal care and completes its south-east Asian footprint.

While most brokerages have cut FY20 earnings estimates by up to 13% for Maruti Suzuki (MSIL), owing to its poor fourth quarter results and its plan to stop production of diesel vehicles starting next fiscal, there are other factors, too, which will keep the company’s volumes under pressure.

High base effect in the first quarter of FY19, no proposed launches and challenges posed by new launches by competitors are some of the factors which will keep the company’s volumes under pressure in the coming quarters.

With investigations into Nirav Modi scam in full swing, Punjab National Bank (PNB) has unearthed yet another default from its London branch. The bank has moved the Debt Recovery Tribunal (DRT) against Tarapur Textiles Park for defaulting an amount worth $13 million.

YES Bank shares tanked 30 per cent to Rs 167 on the National Stock Exchange (NSE) in early morning trade after the bank reported a whopping Rs 1,506 crore net loss for the March quarter (Q4FY19) as provisions soared over nine times. The private sector bank posted its first-ever quarterly loss during the quarter. It had posted a profit of Rs 1,179 crore in the year-ago period.

E-commerce payment company Paytm today announced the launch of recurring payments service for online merchants to allow them to automate the collection of payments for subscription services they offer to their customers. The company claimed to process over 400 million monthly transactions through its payment gateway for merchants. Paytm Payment Gateway competes with PayU, Razorpay, JusPay, Instamojo, BillDesk, CCAvenue etc., in India.

Samsung on Saturday announced an offer in collaboration with HDFC Bank on its latest flagship series, the Samsung Galaxy S10. Buyers can get up to ₹14,000 cashback on purchase of Samsung Galaxy S10 devices.

The Samsung Galaxy S10e is available at an effective price of ₹46,900, thanks to an instant cashback of ₹5,000 as well as a cashback of ₹4,000 if the purchase is made using HDFC debit or credit card.

New Delhi: Essar Steel, which is undergoing debt resolution process, has posted earnings before tax of around Rs 2,000 crore during the insolvency period and the amount could be utilised by financial creditors against their outstanding dues, one of the operational creditors has claimed.

Mumbai: Under a new head after the forced exit of its promoter-chief executive Rana Kapoor, Yes Bank on Friday reported a whopping Rs. 1,506 crore net loss for the March quarter as against a profit of Rs. 1,179 crore in the year-ago period as provisions soared over nine-times. Higher provisions for possible reverses, including a massive Rs. 2,100-crore contingency reserve, was the prime reason for the massive loss, the bank said.

Hindustan Petroleum Corp Ltd’s plans to acquire Mangalore Refinery and Petrochemicals Ltd (MRPL) has hit a cash hurdle, with parent ONGC preferring a cash deal rather than a share-swap, sources aware of the development said.

Oil and Natural Gas Corp (ONGC), India’s biggest oil and gas producer, last year completed acquisition of Hindustan Petroleum Corp Ltd (HPCL) for Rs 36,915 crore.

Hyundai India aims to become the largest SUV seller in India with its sub-four meter SUV, the Venue, to be launched on May 21.

Calling it India’s first “connected” SUV, Hyundai hopes to sell 10,000 units of the Venue every month.

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