Besides the pandemic that resulted in higher interest rates, the default by Future Retail has dealt a blow to investor sentiment.
Before the pandemic hit the world and led to shutdowns, the company had received nearly half a dozen offers. But bidders are now withdrawing. They want to reassess the situation. They want to conserve cash and avoid acquisition.
Several airlines, hotels, travel and tourism companies are expected to move their applications for one-time restructuring as soon as the moratorium ends.
There is immense pressure on Biyani to go ahead with the RIL offer after FRL defaulted on its interest payments of Rs 100 crore on July 22.
Prices in the domestic market are increasing because there is a demand pull, and internationally, prices have gone up.
Since the Covid pandemic, bicycle sales have surged, orders are pouring in, and stores are already feeling a shortage. 'I have not seen this kind of excitement around bicycles and you are talking to a 57-year-old man,' said Pankaj M Munjal, chairman and managing director, Hero Motors Company (HMC), the largest Indian bicycle producer;
Reliance Industries, which sold stake worth $21.7 billion in Jio Platforms, kept the league tables moving in spite of the pandemic.
'These are the people that have worked for you. These are the people who have served you all their careers. You send them out to live in the rain. Is that your definition of ethics when you treat your labour force that way?' the titan asks.
Bankers say debt resolution bills are coming high as resolution professionals are giving the human resources and audit/legal consulting to outside firms to plug all the loopholes.
The numerous integration measures have led to savings in areas including supply chain, technology, inventory management, and marketing.
The rating was downgraded despite 25 per cent held by stronger partner Indian Hotels, which operates the company's seven properties in India.
Together, the top 10 business groups reported a pre-tax loss of Rs 19,342 crore during the January-March 2020 quarter, as against a profit before tax of around Rs 48,500 crore in the year-ago period and Rs 39,600 crore during the December quarter. While Vedanta was the worst hit. others included Aditya Birla, Bharti, Adani, Mahindra, and Tata.
We are adapting to the situation by innovating new delivery modelss, launching brand campaigns that are impactful in the current context and closely monitoring changes in consumer buying behaviour, he said.
While the Hinduja brothers - Gopichand, Prakash, and Ashok Hinduja - did not indicate any move to begin talks with Vinoo Hinduja, top Indian lawyers said mediation would help both sides considering that the letter signed by the four brothers cannot trump other legal documents and challenge the validity of a registered will of SP Hinduja.
While HUL's Fair & Lovely was launched in 1975, Emami's Fair & Handsome was unveiled in 2005. Both companies now straddle both the men's and women's fairness categories in the country.
In the first two months of the current fiscal, Indian exports of finished steel reportedly grew by almost 76 per cent on a YoY basis and China alone accounted for close to 60 per cent of the increase.
The first spending item on the chopping block is capital expenditure, followed by operating costs and overheads, including sales and marketing expenses.
With the State Bank of India moving the National Company Law Tribunal's Delhi bench to enforce the personal guarantees of Ambani, it will delay the recovery of dues by the Chinese banks which won a UK court order in May this year.
'Why should the state and Centre fight?'
In the domestic segment, demand is currently led by rural markets, oil and gas, LPG and B2C segments like roofing and sheeting.
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