If credit card delinquency spells trouble, there may be questions with regard to the much bigger retail sub-categories of car and housing loans, notes T N Ninan.
Foxconn, the Taiwan-based contract manufacturer of mobile phone parts, will suspend its operations at the facility near Chennai from December 24, following a change in manufacturing requirements of clients in the country.
The board of Marico has approved a stock split in the ratio of 1:10. The company will sub-divide each of its equity shares of a nominal value of Rs 10 each to ten shares of Re 1 each.
The government is ready to support Air India, but wants the airline to improve its performance.
Key proposals not feasible for BSNL, says telecom official.
As Wipro enters the new financial year, fresh after the organisational restructuring, it has given a muted revenue guidance for the next quarter, which has not gone in well with the market.
An alumnus of St Stephen's College, Delhi, his professional career began in the early 1990s. He completed a Master's degree in international affairs from Columbia University during 1996-98. And an MBA from Northeastern University, Boston.
Remunerations dominated former India coach Anil Kumble's 19-page proposal on restructuring of contracts to the Board of Control for Cricket in India in which he had demanded that the 'chief coach should earn 60 percent of the captains' estimated earnings'.
Finance Minister P Chidambaram on Thursday made a double pitch for public sector companies. First he urged private sector companies to enter into joint venture partnership with PSUs
Major shareholders to buy workers' shares in northern gardens.
Fresh PoEM guidelines will affect pharma, energy, automobiles, manufacturing and software companies.
The VRS notice was pasted on the gates of the company's Uttarpara unit by the management, which said all workers would be paid their statutory dues plus and additional amount of Rs 100,000 each.
As a measure to increase productivity and reduce costs amid rising jet fuel prices, low cost airline GoAir has reduced the number of flights to various sectors.
Axis Bank was the top laggard in the Sensex pack, plunging more than 5 per cent, followed by HDFC, Bajaj Finance, ICICI Bank, Tata Steel, Bajaj Auto, HDFC Bank and IndusInd Bank. On the other hand, M&M, Infosys, Asian Paints, UltraTech Cement and Tech Mahindra were among the gainers.
The company, which is present in India through a joint venture with Tata Motors, recently restructured its board in India by replacing two of its directors.
State-owned National Aviation Company of India Ltd (Nacil), which runs Air India, has approached the government to raise $2.3 billion through external commercial borrowings (ECBs) as part of a plan to restructure its high-cost working capital debt.
The two nations share a problem of corporate debt gone bad that is so large and opaque.
India's debt recovery and restructuring framework is still a work in progress, even six months after the President's assent to the Insolvency and Bankruptcy Code 2016.
Indiabulls Financial Services Ltd said on Friday it will seek shareholders approval for restructuring and re-organisation the company's businesses through the demerger of its real estate business into Indiabulls Real Estate Ltd. \n
In another development, SBI Capital Markets, which had issued the expressions of interest on April 8, extended the deadline for submission of initial bids to April 12.
The government has till now injected Rs 2,000-crore (Rs 20-billion) fresh equity into the airline.
After considering all options, the company has decided to enter into a negotiation with the employees, given the challenging industry situation in telecom R&D.
In March 2020, soon after the cessation of airline operations globally and domestic flights within India, many in the aviation sector had written Delhi-headquartered low-fare airline SpiceJet's obituary well before that of most of its rivals. Unlike IndiGo, GoAir (now rechristened Go First), Vistara and even AirAsia India, SpiceJet did not have founders or backers with deep pockets. Although it is the only other listed carrier in India besides IndiGo, it was considered the weakest and the least likely to survive the pandemic. But chairman and managing director Ajay Singh surprised everyone by not only surviving but taking the lead on many fronts. Within a few weeks of the scheduled flight stoppage, SpiceJet was doing as many charter flights as it could get hold of.
Concerned over banks hiding their actual NPA numbers, RBI Governor Raghuram Rajan on Tuesday said the central bank is "increasingly turning towards taking action" on such divergences.
Microsoft also took a charge of $940 million related to job cuts announced this month and last year.
he government is examining a plan of bank recapitalisation and considering an urban version of MNREGS.
According to tax experts, the restructuring would lead to a much lower tax outgo on dividend distribution.
The norms will affect companies in pharma, energy, manufacturing, software sectors.
Vijay Mallya, promoter of debt-ridden Kingfisher Airlines, would have his stake falling a little below 50 per cent in the company, if a comprehensive debt restructuring is approved by the shareholders on December 20. On a fully diluted basis, it will drop by little over 16 per cent from the current 66 per cent.
At present 100% FDI is allowed, of which up to 49% investment in a company can be done through the automatic route
According to the revised plan, promoter Naresh Goyal, his wife Anita Goyal and the directors nominated by the promoter would be asked to step down from the board, and the lenders, as part of the resolution process, will infuse around Rs 1,200 crore into the airline as emergency funding.
Companies that have announced CDR plans during the last year include Kingfisher Airlines, Wockhardt, Vishal Retail and the unlisted Air India.
Sony Corp does not plan to renew its sponsorship contract with FIFA, the governing body for world football, as the Japanese electronics maker needs to prioritise its restructuring efforts, people familiar with the matter said.
The new board will have to provide the NCLT a road map for turning around the company by October 31, which, Kotak said, is challenging, given that the company's issues represent a "moving target"
The Dubai government said it is planning to open leading Dubai-owned companies for public equity participation in order to restructure those hit hard by the financial crisis.
To bail out Hindustan Copper Limited from its financial morass, the government plans to restructure the company's capital and waive interest on its loan, guarantee fee among others to adjust against HCL's accumulated loss of Rs 723 crore.
Consultants are working with various teams on manufacturing, R&D, etc, to assess per-month productivity of each department.
