Private domestic air-carrier, Jet Airways on Monday said it has witnessed a 33 per cent increase in its domestic passenger traffic in November as compared to the same period last year. At the same time, the airline's international passenger traffic also clocked a 19 per cent growth in its seat factor at 81.9 per cent in the same month.
Close on the heels of Aditya Birla Group's restructuring move, its flagship Indian Rayon on Thursday said it will seek shareholders' nod to change its name to 'Aditya Birla Nuvo Ltd'. \nThe Rs 5,000 crore (Rs 50 billion) Aditya Birla Group had on Sep
Kinetic Motors on Monday said it was considering going in for restructuring, which would see the company increase authorised share capital and enter into strategic tie-ups and joint ventures, apart from launching new models.
The noted economist said some of the bad loans are due to a slowdown in the economy and asset restructuring companies are part of the solution.
The clauses on corporate debt restructuring (CDR) are being reworked in view of the huge foreign exchange exposure of several companies, which have already opted for restructuring debt or are on their way to seeking approval for one.
Microsoft Corp said on Wednesday it would cut 7,800 jobs and write down about $7.6 billion related to its Nokia handset business, which it acquired in 2014.
The two troubled subsidiaries of Reliance Capital have over Rs 20,000 crore debt of both the companies. Reliance Home Finance has a debt of Rs 11,500 crore and Reliance Commercial Finance owes Rs 9,000 crore to lenders.
The newly-formed entity which will list on the NYSE as Eros STX Entertainment Corp, will remain listed on the New York Stock Exchange, with headquarters in both Mumbai, India, and Burbank, California, and has also got $125 million in fresh funding. The merger will not change the structure of Eros's Indian arm which is also listed on Indian stock exchanges.
In a restructuring mould, O P Jindal group company, Jindal Strips Ltd is planning to hive off its subsidiaries Jindal Holdings, Jindal steel and Alloy and Jindal Stainless (Mauritius) as separate companies.
The government on Thursday said it has extended the Emergency Credit Line Guarantee Scheme (ECLGS) to the health sector and 26 other sectors identified by the Kamath Committee. The National Credit Guarantee Trustee Company Limited (NCGTC) has issued the operational guidelines for implementation of ECLGS 2.0 scheme, the finance ministry said in a statement. The scheme was announced by the government earlier this month as part of the Rs 2.65 lakh crore Atmanirbhar Bharat 3.0 package.
Reliance Industries Holdings will now directly own stakes in Reliance Ports & Terminals, Reliance Gas and Transportation and Reliance Utilities and Power.
Ferrari announced a restructuring of their Formula One technical department on Wednesday after struggling in the first three races of a season so far dominated by Mercedes. The sport's oldest, most glamorous and successful team -- last year's runners-up -- are fifth in the championship with Sebastian Vettel and Charles Leclerc pushed into more of a midfield battle.
The new jobs - created both directly and indirectly - will be across industries, including IT, skill development, content creation, retail, logistics, and manufacturing.
Ford Motors, one of the big three in the US auto industry, is planning to increase its market share at a time when its rivals -- GM and Chrysler -- are tackling bankruptcy and restructuring procedures.
Energy giant Royal Dutch Shell has come up with a major restructuring initiative which could affect as many as 24,000 jobs.
While the government's intention is to revamp the country's rail network, a half-hearted attempt at creating a more efficient organisation could derail the whole process.
To make sure liquid schemes reflect the underlying portfolio risks, Sebi has said all debt papers with maturity of 30 days or more to be marked to market. Earlier, fund houses didn't have to do so for securities that had less than 60-day maturity.
Technology evolution forces private players to downsize operations.
The company has four lenders -- State Bank of India, IDBI, ICICI and Canara Bank. According to the Reserve Bank of India norms, these loans would be declared as NPAs if the project is not financially restructured by March 31, 2009. The restructuring exercise includes a 50 per cent hike in the tariff for sale of power from the project, to be allowed by the Central Electricity Regulatory Commission. The project is expected to become viable after this.
Over the past several months, the airline has struggled to pay vendors and staff salaries on time.
Till March 2011, things were manageable.
As Covid-19 cases surge in India, companies have realised it's a tightrope walk between maintaining production and ensuring employee safety.
The management, however, is a bit wary about near-term performance.
After the write-off of Rs 1,300 crore (Rs 13 billion) accumulated loss, Fiat India has embarked on a 'massive restructuring exercise' that would see the company launch new models, which includes hatchbacks Panda and Idea and sedan Albea.
Combines UTV, Disney, Indiagames businesses to drive growth in mobile, online, interative TV
The brand name was pledged to 14 lenders, including State Bank of India (SBI), under a debt recast agreement in which loans valuing Rs 6,500 crore were restructured and converted into equity.
Like everything else, the structure of banks may change, and banks may depend more on digital technologies and artificial intelligence for dealing with both their customers and employees.
Most of the changes have come about in the last four years and ITC is now reaping the dividends - standalone revenues from the non-cigarettes FMCG business have grown 40 per cent from FY17 to Rs 14,728.21 crore in FY21 and pre-tax profits 30 times to Rs 823.69 crore. The business accounted for 30.58 per cent of gross revenues and 4.85 per cent of pre-tax profits in FY21. "In the last four years, our margins in FMCG have gone up by 640 basis points (bps) and EBITDA margins have been moving up consistently. "We created levers that enabled a sustained growth trajectory," said ITC chairman and managing director Sanjiv Puri. Puri took charge as the chief executive officer in 2017; in 2018, he was redesignated managing director and effective May 2019, he became chairman.
Gitanjali Gems plans to hive off various businesses.
The latest one being Ken Toombs, global head of consulting at the Bengaluru-based entity.
Mere shuffling of resources or cosmetic changes to prove a point would be counterproductive in the long run, observes Commodore Venugoptal Menon (retd).
'While there has been an impact on economic activity, it is not as profound as the lockdown last year.'
Tata Steel on Friday said it will cut 900 jobs in the UK as part of major restructuring of European operations to make the company an "all-weather" steel producer, capable of succeeding in difficult economic conditions.
Saqlain Mushtaq has previously worked as a spin bowling coach with Bangladesh, West Indies and England, apart from serving as a consultant for PCB, Cricket Australia and New Zealand Cricket.
It plans to lower employment costs with the estimated reduction in employee numbers, about two-thirds of which are expected to be office-based white-collar roles - a majority expected at its Netherlands unit.
