On June 28, the Cabinet Committee on Economic Affairs (CCEA) gave its in-principle approval for considering strategic disinvestment of Air India and its five subsidiaries. An Air India Specific Alternative Mechanism (AISAM) has been constituted to guide the process on the strategic disinvestment
While ONGC buying HPCL will help the government meet as much as 40 per cent of its target for raising Rs 72,500 crore in the current fiscal through stake sales, other deals in the oil sector may be in the offing.
The NCLT, on July 13, issued notices to Bhushan Steel Ltd as well as Bhushan Steel and Power Ltd over insolvency proceedings initiated by their lenders State Bank of India and PNB.
The government’s move followed a “partial” arbitration award in its favour over cost recovery in the fields in the Arabian Sea
“We remain positive on the medium term outlook for the industry,” chairman Harish Manwani said in an exchange filing
I-T demand of tax on $150 million investment in NDTV
On Tuesday, SBI said the remaining Rs 704 crore was part of the aggregate loan owed by Monnet Ispat and payable in installments up to 2027 and is therefore not shown as a default
A single-judge bench at the Ahmedabad NCLT of Justice Bikki Raveendra Babu has scheduled the case for July 24
Two foreign funds buy 4.5 percent stakes in Anil Ambani led Reliance mutual Fund ahead of the scheduled IPO in October. The IPO is set to generate Rs 1,800 crore which will be used to grow the business and create new inorganic opportunities.
Flipkart and Snapdeal have been in merger talks since at least April as they debate the proper terms of a combination. One central issue has been that Snapdeal investors will see the value of the business cut by at least 85 percent from its peak of $7 billion.
Murthy’s entry back into Infosys as executive chairman in June, 2013, and his final exit in October 2014 were equally dramatic considering the circumstances surrounding these developments.
NCLT needs to decide … whether the petition is … to be entertained: Gujarat HC
Essar Steel had moved the court against Reserve Bank of India for initiating insolvency procedure against it. The apex bank has issued a release on June 13 directing the banks to start insolvency procedure against a dozen stressed companies including Essar.
Mahindra & Mahindra will become the first Indian auto company to open a plant in the US. The company has deployed $1.5 billion in US to generate revenue of $2.5 billion.
The company did not respond to an e-mail from The Indian Express seeking the exact amount it hopes to save by cutting non-vegetarian food from the economy menu on domestic flights. But company officials had clearly indicated last week that this would be in the region of Rs 8-10 crore.
The CBI had submitted before the court that Mallya had sought credit facility from IDBI Bank offering corporate guarantee of United Breweries (Holding) Limited and his own personal guarantee.
NBCC, which is under the administrative control of the urban development ministry, posted a net profit of Rs 354.51 crore on a turnover of Rs 6,313 crore during 2016-17 fiscal and is a zero-debt firm.
A clause in term sheet says that lenders retain right to force EGFL into insolvency
On the reasons for stepped up US hiring, he said: "That has happened because the message from the US government is very clear that they would like us to play a bigger role here (in terms of employment)."
The finance ministry, in a notification last week, has amended the Securities Contracts (Regulation) Rules, 1957, to give to Central Public Sector Enterprises four years from September 2014 to meet the minimum public float requirement.
AI and cloud computing contribute 50% of the $2 bn revenue growth in last 2 years: CEO Vishal Sikka
As on March 2017, Wipro had cash and cash equivalents totalling Rs 5,271 crore ($813 million) on its books. Among Indian IT companies, TCS, which had a cash pile of over Rs 43,000 crore, has already completed a Rs 16,000 crore buyback programme earlier this year.
Infosys on Friday reported a 1.4 per cent increase in its first-quarter performance. The company, the second largest outsources of IT services in Asia, posted a consolidated net profit of Rs 3483 crore for the quarter ending June.
Asia’s second-largest outsourcer of IT services, Infosys, forecast a 7.1 to 9.1 per cent climb in revenue for the year ending March 2018 on a U.S. dollar basis. That beat analyst estimates and its own previous outlook, both of which projected growth of 6.1 to 8.1 per cent.
On Friday morning, Infosys posted a consolidated net profit of Rs 3483 crore for the three months ending June 30, compared to Rs 3436 crore rupees in the same period last year. Consolidated revenue from operations rose about 1.8 per cent to Rs 17,078 crore.
A professional with over 26 years of experience in the global technology sector, Subramanian started her career with Tata Consultancy Services and worked in diverse roles in India, Sweden, the United States and Canada.
The RBI and SBI have demanded termination of the interim relief given to company
Seeing a ‘strong pipeline’ for new deals in North American market: Company
As per the study, Google again tops the list followed by Microsoft and Facebook at number two and three respectively. SBI has managed to climb several rungs from ninth to the fifth but it couldn't eclipse Patanjali. However, it the only financial brand in the top 10.
The company, however, posted a marginal increase of 1 per cent in its consolidated revenue at Rs 29,584 crore during the quarter as against Rs 29,305 crore in the year-ago period.
The accused, Imran Chhimpa from Churu town, holds a Masters in Computer Application and was placed under arrest after the Maharashtra Cyber Department traced the Internet Protocol address of the website on which he had allegedly uploaded Jio’s customer data.
US President Donald Trump had, in the recent past, been vocal about his support for Harley-Davidson — the motorcycle manufacturer viewed as a flag bearer of the American manufacturing story and is only one of two US motorcycle makers that have survived the Great Depression.
The company had last week termed claims of data breach as unverified and unauthentic. Police at the Rabale MIDC police station in Navi Mumbai, where Jio is headquartered, have registered an FIR in this connection.
This is because the proposed deal was being done without transfer of debt, the board noted.
"BoA of SEZ has deferred the decision with a query. In its meeting held on July 3, it has decided to defer the proposal of approving the demerger until no-objection certificate is received from the banks," a company spokesperson said in a statement.
The company launched Project Next, which is its digital innovation programme aimed to enrich customer experience including transforming its in-store experience