Budget 2014-15 has done away with the tax sunset clause of March 2014.
The company will use the proceeds to part-repay its debt, which stands at Rs 34,000 crore (Rs 340 billion) even after the recent qualified institutional placement of its shares. An RCom board committee recently approved the sale of these assets.
In January this year, Tata Sons invested an additional Rs 2,500 crore (Rs 25 billion) in Tata Teleservices which was used to repay loans of the wireless telephony company.
The company had appointed a three-member committee of directors to implement the changes.
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Since April 1, promoters of Jaiprakash Associates have released more than 225 million Jaiprakash Power Ventures shares (valued at Rs 425 crore) pledged with lenders.
The agreement says UB Group and Adventz will have the right of first refusal over each other's shares.
Chanda Kochhar, managing director of ICICI Bank, says the new government must take effective action bringing clarity around tax laws.
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Revenue yield on every rupee of investment fell to Rs 1.06 in FY13 from Rs 1.20 in FY08.
The company needs Rs 2,000 crore more in 2 years to repay debt.
Looking to put money in aviation, infrastructure and also to reduce debt of group companies.
Adani Enterprises plans to invest a total of $25 billion in the next five years.
US-based Apollo Global has picked up stake in Indian firms which are not doing that well financially.
Going forward, Vinita Bali, outgoing MD, Britannia wants to do other things in life which she was unable to pursue.
The Aditya Birla group has slammed rating firm Moody's for placing Novelis, the group's aluminium products subsidiary, in line for a possible downgrade to default.
Mistry's strategy appears to be the opposite of the group's stance in the heady days of 2007
Worried over the fallout of the Supreme Court's observations on allocation of coal blocks, India Inc wants the apex court to consider a reprieve for those allotted to genuine companies that have invested billions.
Year 2013 saw business leaders facing the ire of hostile investigative agencies.
Lenders to Kingfisher Airlines, led by State Bank of India, had moved courts to get residual rights over these shares after Srei recovered the collateral from the defunct Kingfisher Airlines, making it difficult for Srei to sell the shares, said a legal source.
In the quarter ended September, the company's employee costs rose to an all-time high of Rs 1,580 crore (Rs 15.8 billion), even as company's margins took a beating.
Bankers claim they have received good response to the roadshows held abroad for Coal India, IndianOil and PowerGrid.
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