The idea is to reduce capital investments and improve profitability.
'It can be used to build three-wheelers, vans, too'
Group to enter education, invest `100 cr to begin with.
Olympus Capital, UTI's PE arm to fund Rs 400 crore.
Will operate in all airports except those in Hyderabad, Bangalore and Delhi
AIR India's turnaround plan, which has been reviewed by consulting firm Deloitte and accepted by the airline's board, says the company will start making operating profit from this financial year itself. Air India has been running under losses since 2007.
Japanese firm to retain Camlin, Camel brands.
Though all the regulatory and ministerial approvals are yet to come in, two working groups with specific mandates have been set up.
If the deal is successful, it would be the first such acquisition for the ADA Group.
Fair valuation of minority stake in joint venture at core of dispute; different worth of shares in two Essar entities a thorny issue.
Ruias to challenge Vodafone's put option, continue reverse-listing plan.
Last week, Essar had decided to prepay $900 million of this debt to foreign lenders.
Kapil Sibal, telecom minister, said many companies borrowed heavily to pay for 3G licences late last year. These companies were now facing difficulty in raising resources for the business, upsetting the calculations they had made while bidding aggressively for the licences, he said.
Nine years after parting ways, Prannoy Roy and Rupert Murdoch are again coming together for a unique airtime sale and marketing alliance.
Three independent people with knowledge of the talks said the group had been selected in the first round and was now likely to make a formal bid.
The cap of 25% on sales to group companies likely to be removed.
Telcos such as Loop, Etisalat and Videocon have done little to churn the subscriber base.
Vedanta had proposed to buy a 51 per cent stake in Cairn India for $9.6 billion in the middle of last year. The Cabinet Committee on Economic Affairs is expected to take up the issue next week.
The fund, with an initial corpus of $150 million, is set to be the first of its kind, said two independent industry sources familiar with the development.
A memorandum of understanding between the defence and telecom ministries for vacation of spectrum was signed two years ago.
