Videocon launched an app-powered air conditioner.
Ahmedabad could soon have an Indian Premier League team of its own after it was confirmed that billionaire Gautam Adani-owned Adani Enterprises had submitted its bid to buy a new franchise. It is learnt that top corporate houses like Sahara Group, Videocon Enterprises, ICICI are among the other bidders, while guardians of the law of the game Marylebone Cricket Club (MCC) are also in the running for the Pune franchise.
Leading Indian corporates Reliance, Bharti and Videocon along with seven other consortiums entered the race for the modernisation of Delhi and Mumbai airports, bids for which closed on Tuesday.
RPG Enterprises Chairperson Harsh Goenka on Tuesday said the NCLT should be the next institution to be cleansed by the government to prevent "hard earned public money being stolen" as companies' promoters stash away money on the side and get "80-90% haircut" from bankers during the insolvency resolution process. In an apparent reference to recent cases of insolvency proceedings of some firms wherein creditors have taken huge haircuts on their dues, Goenka said it is the "new game in town". Insolvency resolution plans require approval of the National Company Law Tribunal (NCLT).
One smells a rat when cases are settled for too small a price offered either by the highest bidder or the promoter -- within and outside the legal ambit of insolvency process, observes Tamal Bandyopadhyay.
Finance Minister Nirmala Sitharaman's Rs 30,600 crore government guarantee for the bad bank has changed the body language of bankers for the better, observes Tamal Bandyopadhyay.
The brand new bankruptcy process is being brazenly gamed by those with connections and money. The touts and fixers of the previous regime have been replaced by a new set close to this one, observes Debashis Basu.
These together account for 40 per cent of bad loans of around Rs 4 trillion.
Zeev Leshem, Chief Operating Officer, Fortune online lottery, says the Indian online lottery market is big enough to accommodate at least five operators.\n\n\n\n
Pharma shares extended losses after the government's ban on combination drugs.
Debt funds have exposure of nearly Rs 8,000 crore to Zee group papers. Aditya Birla MF, HDFC MF, Franklin Templeton MF, and ICICI Prudential MF have the highest exposure, reports Samie Modak.
In addition, he will have to move swiftly to control any damage that may have been caused to the bank's image and investor confidence due to the loan controversy
Largest deal in thermal power space; Lanco to use proceeds to lower debt.
'We focused on de-risking our balance sheet but we are very clear that the steps we have taken over the past few years, about changing the proportion of the loan mix, improving the ratings of the incremental portfolio, and reducing the concentration risks have now created a strong position that will allow us to attain growth with stability.'
At present, seven companies are planning to raise Rs 2,965 crore (Rs 29.65 billion) and have Sebi's approval. Another 12 firms, intending to mop-up Rs 5,362 crore (Rs 53.62 billion), have filed draft documents with the capital market watchdog and are awaiting approval, Prime Database managing director Pranav Haldea said.
Licence winners are expected to be announced by the first quarter of 2014.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Shares of IT companies were in focus with the Nifty IT and S&P BSE IT index gaining more than 2% in an otherwise lower market
Is it a last ditch attempt to reassure consumers, or a way to gain the upper hand at the negotiating table, or is it just a way of exhausting the treasure chest before the lights go out
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The RBI has accepted the application withdrawal request, according to the statement.
CEOs are not happy with scorecard so far but are ready to invest more as they think one year is too short a time to revive the economy
India Inc expects the RBI to cut interest rates by early next year.
RCom is expected to have a 50% stake, Aircel 40% and MTS 10%
Several high profile companies are burdened with losses, mounting debt and have a huge load of operational costs.
Brijmohan Lall Munjal was a perfectionist, who empathised with people who worked for him.
The Appointments Committee of the Cabinet approved appointment of Sarraf, who at present is Managing Director of ONGC's overseas arm, ONGC Videsh Ltd.
A glance back at some important events that occurred in 2018.
After a two year run-in with controversies, telecom sector now looks stable and seems back on its feet with initial investment proposal of over Rs 11,000 crore (Rs 110 billion) received in 2013.
The threat may be a decade away, but it has brick-and-mortar sellers rethinking their strategies and banking on the govt to regulate online companies.
Happy at the clear mandate given by voters to the BJP-led NDA, India Inc on Friday exuded confidence that Narendra Modi will initiate bold and decisive policy reforms to promote economic growth.
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