The resolution plan has to be put to work this month itself. Jet has a debt of over Rs 8,000 crore and needs to make repayments of up to Rs 1,700 crore by the end of March.
The Indian companies, however, invested a much lower $1.59 billion in overseas markets in the previous month May 2014.
The Election Commission has decided to replace 9,30,430 EVMs purchased before 2006 as the older machines are nearing their 15-year life cycle.
The fund will close in two tranches, with the first tranche of $ 100 million expected to close in two months. However, the company has not set any time-frame for raising the entire corpus of the fund. In addition, Dewan Housing Finance, the parent entity, is also looking to raise Rs 150 crore (Rs 1.5 billion) to bolster its operations. The fund-raising may also be in the form of equity dilution.
Employees of Satyam Computer in India will be paid their February salaries by the month-end, while its employees overseas will be paid in two tranches beginning mid-February, a top source said.
Foreign operators may fail to provide quality 3G services, unlike their Indian counterparts, as the Department of Telecommunications is offering spectrum in tranches of 5 MHz, which is insufficient for starting operations.
IndusInd Bank was the top laggard in the Sensex pack, cracking around 10 per cent, followed by HDFC, Maruti Suzuki, Axis Bank and UltraTech Cement. On the other hand, TCS, Infosys, ITC and HCL Tech closed with gains. NSE Nifty plunged 313.60 points or 3.43 per cent to 8,823.25.
When, recently, Bharti Airtel announced a Rs 21,000 crore rights issue, analysts pointed out that its structure was similar to that of Reliance's issue in June 2020. One similarity is that shareholders in both companies have to pay only 25 per cent of the money on application. The rest is to be paid in two tranches. In Bharti Airtel's case, it is within 36 months; in Reliance Jio's, it is within 17 months.
Energy's exit is a cautionary tale for several foreign investors in India as close to 16 Gw of solar and wind power projects languish without any power purchase agreement, 24 Gw without transmission connectivity and around 2 Gw unilaterally cancelled by project developers.
Despite price correction, policies that support the yellow metal will remain in place in the foreseeable future.
Shares worth over Rs 2,800 crore in four Tata firms, including TCS and Tata Motors, pledged by Tata Sons have been released.
This apart, to further increase capacities, Bharat Biotech has partnered with Indian Immunologicals (IIL) to manufacture the drug substance for Covaxin. The technology transfer process is underway and IIL has the 'capabilities and expertise' to manufacture the inactivated viral vaccines at commercial scale.
The first tranche was raised a few weeks ago and the company was looking to raise more if needed.
The Securities and Exchange Board of India (Sebi) has directed Franklin Templeton MF to pay Rs 5 crore as penalty, return over Rs 450 crore collected as 22-month investment management and advisory fees, and imposed a two-year ban on launching new debt schemes for alleged irregularities in running six of its debt schemes that were shuttered last year.
After monetising Jio Platforms -- which houses the firm's telecom arm and digital ventures, richest Indian Mukesh Ambani is looking to rope in investors in the retail business.
On Wednesday, the Maharashtra government had said that it would not be able to launch the 18-45 age group vaccination drive from May 1 due to the shortage of vaccines.
The financial sector has been deeply troubled since 2013. It is now in a full-blown crisis, warns Devangshu Datta.
Prime Minister Narendra Modi had announced a relief package of Rs 20 lakh crore or about 10 per cent or GDP last week. However, many of the measures unveiled have been in the form of moves like loan guarantees which do not entail an immediate fiscal cost.
Sebi on Monday barred Franklin Templeton AMC from launching any new debt scheme for two years and fined it Rs 5 crore for violating regulatory norms in the case of winding up of six debt schemes in 2020. Also, it has been asked to refund investment management and advisory fees to the tune of Rs 512 crore, including interest, collected with respect to the six debt schemes, Sebi said in its 100-page order. In a separate order, the regulator has barred Vivek Kudva, former head of Asia Pacific (APAC) for Franklin Templeton, and his wife Roopa from the securities market for one year for redeeming units of Franklin Templeton MF schemes while in possession of non-public information.
Sitharaman also announced Rs 10,000 crore fund to support 2 lakh micro food enterprises for promoting health and wellness, herbal, organic and nutritional products.
The RBI governor's assurance should give investors enough confidence to start believing in the NBFC sector again, say bankers.
For those who find the online facility difficult, there is an electronic tutorial, and staff to assist you.
Education topped the table with nearly $1.755 billion as against $379 million last year, followed by real estate which received $754 million.
Facing accusations of delay in placing orders for vaccines, the government on Thursday defended its vaccine procurement policy saying it has been pursuing Pfizer, J&J and Moderna since mid-2020 for the earliest possible imports, and has even waived local trials for well-established foreign vaccine makers.
The silver lining is that after two years, e-commerce has emerged as the top sector with $689 million in investments across 15 deals, accounting for 43 per cent of all investments in January 2021.
'Boeing has returned some cash to the airline which will help it improve the current liquidity crisis.'
Out of the total amount, Rs 9,780 crore would be towards secondary sale of shares by GMR group and Rs 1,000 crore would be equity infusion in GAL.
The country's forex reserves inched higher to $292.24 billion as of January 24, from $292.08 billion in the earlier week.
Fresh capital will help Flipkart further grow its e-commerce marketplace in India as the world's second-largest internet market begins to recover from the COVID-19 crisis.
The steel-maker will now have to pay 50 basis points more on this tranche of $1 billion with a seven-year tenure.
The rating was downgraded despite 25 per cent held by stronger partner Indian Hotels, which operates the company's seven properties in India.
Mukesh Ambani-controlled Reliance Petroleum Ltd will raise $1.5 billion (nearly Rs 6.9 billion) through Syndicated Term Loan Facility to finance its new 580,000 bpd refinery and a 0.9 MT polypropylene unit.\n\n
This will encompass the sale of Air India, a number of other privatisation initiatives, mergers, initial public offerings, the Centre's two exchange-traded funds, buybacks and offers-for-sale, and even monetisation of land assets.
Ahmedabadbased Suzlon Energy has tied up funds for its Euro1.2 billion (Rs 6,543 crore) bid for the German power company, REpower, even before the last date for raising bid by the rival French giant Areva expires on Thursday.
Each vaccination session will cater to a maximum of 100 beneficiaries and the Union Health Ministry has advised states not to organise 'unreasonable numbers of vaccination per site per day'.
Former Congress chief Rahul Gandhi, Bharatiya Janata Party ministers Ashwini Vaishnaw and Prahlad Singh Patel, as also former election commissioner Ashok Lavasa and poll strategist Prashant Kishor were among those whose phone numbers were listed as potential targets for hacking through an Israeli spyware sold only to the government agencies, an international media consortium reported on Monday.
