Telenor Financial Services, IDFC Bank and Sun Pharma's Dilip Shanghvi have decided to withdraw their licence to set up a payments bank.
Executive says setback doesn't challenge strategy.
A fall in crude oil price and Aramco's $75 billion annual dividend commitment may have delayed Saudi company picking a stake in Reliance Industries Ltd's oil-to-chemical unit (O2C), research firm Jefferies said. Richest Indian Mukesh Ambani had in August 2019 announced talks for the sale of a 20 per cent stake in the O2C business, which comprises its twin oil refineries at Jamnagar in Gujarat and petrochemical assets, to the world's largest oil exporter. The deal was to conclude by March 2020 but has been delayed for reasons not disclosed by either company.
A person in the know of the PIM details said an entity can put in bid for Air India on the "strength of its parent", which was not there before. A consortium can participate in the disinvestment process, provided each partner has at least 10 per cent stake as well as 10 per cent of the Rs 3,500 crore net worth requirement, according to the bid document. The lead member of a consortium should have at least 26 per cent stake. Individuals are allowed to bid as part of consortium.
"We are interested in states like West Bengal, but the government does not seem enthusiastic about this.Currently, we are looking at states which are more proactive and have invited us in setting up this venture," said Rajan Bharti Mittal, vice chairman and managing director of Bharti Enterprises.
The government and financial sector regulators have prevailed on Insurance Australia Group (IAG) to route its investment in a general insurance venture with State Bank of India through Singapore, instead of the original proposal to bring the money through a Mauritian subsidiary.
'She was the unanimous choice of the search-cum-selection committee.'
As part of a 50:50 joint venture agreement signed in 2007, the two companies had agreed to a joint distribution network and back-end support, besides co-manufacturing of products at the Ranjangaon facility near Pune.
"I have to admit that so far, the venture with Fiat has not been as active as we had thought," Tata said.
Mahan Coal claims it is being targeted at the behest of 'foreign masters' of the Western world.
After using technology successfully in their respective election campaigns, United States President Barack Obama and Prime Minister Narendra Modi have for the first time interacted digitally to come out with a joint editorial.
Bhargav Dasgupta, managing director and chief executive officer of ICICI Lombard, tells Subrata Panda, in an interview that the company has adequate capital for now and does not see a need for fresh infusion through markets over the next few years.
Of the 6,400 Toyota employees, about 4,000 are union members and the remaining of them are on contract in both the factories.
The company is facing a string of losses and shrinking customer base.
This is the second deal between Peugeot and the C K Birla group. Last month, the two groups entered a "long-term" partnership, with an initial investment in capital expenditure of close to Rs 700 crore, for vehicle and power-train manufacturing in Tamil Nadu.
DoCoMo said it is uncertain whether Tata Sons will pay the awarded damages.
A joint venture of Synbiotics, a wholly owned subsidiary of Ambalal Sarabhai Enterprises (ASE), and CoDiagnostics, CoSara Diagnostics is the first and only Indian company so far to receive a licence from the Central Drugs Standard Control Organisation (CDSCO) to manufacture coronavirus diagnostic test kits.
In a short span of time, with the help of Amazon, Cloudtail was able to devise a model that could protect it from the vagaries of online retail business.
Russian and Indian companies including TCS and JSC Helicopters signed 3 different agreements to set up JV and strengthen technology partnerships.
Anil Ambani's Reliance Power will set up a joint venture with Shanghai Electric Company to manufacture thermal power equipment in India. The Chinese company will also supply $10-billion (Rs 44,000-crore) worth of boiler-turbine-generator (BTG) packages for Reliance Power's proposed coal-based domestic power plants.
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