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Major news headlines of business newspapers.

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Money Control

•Coal India Q4: Profit at Rs 4,625.8 cr versus Rs 6,026.5 cr, revenue at Rs 27,568.3 cr versus Rs 28,585 cr YoY.

•Eveready Industries: Dovetail India Fund Class 6 Shares bought 4,80,000 shares in the company at Rs 79.05 per share.

•Andhra Paper: Radhakishan Damani’s Bright Star Investments acquired 5,00,000 shares in the company at Rs 206.23 per share.

•IOC Q4: Profit at Rs 1,597.4 crore versus loss of Rs 70.6 cr, revenue at Rs 2,607 cr versus Rs 3,097 cr YoY.

 

Business Standard

•Make Indian manufacturing competitive to curb Chinese imports: R C Bhargava

•No plans to sell non-core assets, sale of real estate on cards: PNB Chief

•Power producers’ total outstanding dues owed by distribution firms rose nearly 63% to Rs 1.23 trillion in April 2020 over the same month previous year, reflecting stress in the sector.

•SBI sanctions Rs 20,000 cr loans to MSMEs under the credit guarantee scheme.

 

Financial Express

•FPIs turn net buyers in June, invest Rs 21,235 crore.

•DCB Bank plans to raise up to Rs 1,000 crore via equity, debt instruments.

•Airtel Payments Bank’s revenues rose 87% to Rs 474 crore during FY20, driven by surge in digital payments, money transfer and offtake of new services, according to its MD and CEO Anubrata Biswas

•NTPC reported a 71.2% year-on-year decrease in its standalone net profit to 1,252.4 crore in the three months ended March.

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