Lenders to DHFL will meet early July to hammer out a rescue package, which will include the reworking of loan payments, fresh working capital support, roping in a financial investor, and the promoters ceding control.
According to telcos and analysts, this is due to SIM consolidation happening after the minimum recharge plans were implemented by incumbents.
The growth in imports was led by product categories such as diagnostic items, ultra-sonogram machines, MRI and ECG apparatus, syringes with needles, suture needles, digital thermometers, malaria diagnostic kits, and hearing aids.
The merged entity will have a combined market share of 6.4 per cent in the non-life insurance industry with 308 branches in the country. The deal is subject to regulatory approvals and the entire process is expected to be completed in nine months.
He said unwarranted rumour-mongering, speculation, and bear hammering of all Reliance Group companies shares over the last few weeks had caused grave damage to all our stakeholders.
Bharti Airtel called the prices exorbitant while Vodafone Idea wants the auctions take place in 2020. The auctions need to happen when the infrastructure is ready for the roll out, be it in terms of fiberisation levels, or optimisation of equipment and software etc. Spending a hefty amount on a technology (airwaves) that at present offers limited returns is not going to be a priority for the incumbent telcos.
An initial reading of the guidelines indicates two factors - potential rise in borrowing cost and lower returns on investment book - could hit the spread of NBFCs.
Mukesh Ambani's Reliance Jio, however, continued to add wireless subscribers
Overall slowdown in the economy and growing volumes of unbranded generic medicines in the domestic market are behind poor sales.
Debt-ridden Reliance Capital ready to cede control in home finance - Blackstone, Carlyle, Brookfield, and Piramal group are in talks to buy a large stake in Reliance Home Finance.
Indian bankers are fearful that going out of their way to save Jet could lead to subsequent harassment from investigative agencies.
What has worked though for Brand Saridon has been its single-minded focus on headaches as opposed to other analgesics that dwell on a wider set of problems, reports Sohini Das.
Chennai-based Lakshmi Vilas Bank is set to merge with Indiabulls Housing Finance in a share-swap deal, RBI may not be comfortable with a bank owner having realty business under its wings.
India's largest telecom operator in terms of subscriber numbers has been struggling to raise its share of subscribers in the market for fourth-generation technology services.
With average capacity utilisation now touching 76 per cent, Indian companies are going back to the drawing board to add capacity but the plans to build new factories and plants are still some months away.
Aurobindo Pharma, Cadila Healthcare and Serum Institute are readying their vaccine candidates.
While the company insisted it had enough spectrum across circles, analysts said the company might soon need to acquire some spectrum to ensure uninterrupted service.
Lenders say settlements will cross over 100 accounts in the March quarter.
The project will house 3,000 residential units across 10 towers in the first phase on a 20-acre land parcel that Raymond owns in Thane
Bankers said the SC verdict might prolong the resolution process and force lenders to bring back cases to the drawing board.
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