Bharti Airtel International (Netherlands) BV, which manages Airtel's Africa business, has cleared dues worth USD 450 million (Rs 3,565 crore) by purchasing notes through a tender offer, the company said on Friday. The company had issued a tender offer to purchase USD 300 million worth of its 5.35 per cent guaranteed senior notes of USD [...]
Billionaire Gautam Adani's group is said to be planning a surprise entry into the race to acquire telecom spectrum, which will pitch it directly against Mukesh Ambani's Reliance Jio and telecom czar Sunil Bharti Mittal's Airtel, sources said. Applications for participating in the July 26 auction of airwaves, including those capable of providing fifth-generation or [...]
Tata Motors on Friday said its global wholesales, including that of Jaguar Land Rover, rose 48 per cent to 3,16,443 units in the first quarter of the current fiscal. The auto major had dispatched 2,14,250 units to dealers in the April-June quarter of 2021-22. Global wholesales of all Tata Motors' commercial vehicles and Tata Daewoo [...]
Equity mutual funds witnessed a net inflow of Rs 15,498 crore in June amid heightened volatility in the stock market and consistent selling by Foreign Portfolio Investors (FPIs). Equity mutual funds witnessed positive momentum for the 16th straight month in June. Inflows into equity mutual funds in June was much lower compared to the net [...]
Shares of Mahindra & Mahindra (M&M) climbed over 5 per cent in morning trade on Friday after the company and the British International Investment (BII) inked a pact to invest Rs 1,925 crore each in a wholly-owned subsidiary of the homegrown auto major. The stock jumped 5.16 per cent to its 52-week high of Rs [...]
Mahindra & Mahindra (M&M) and the British International Investment (BII) have inked a pact to invest Rs 1,925 crore each in a wholly-owned subsidiary of the home-grown auto major to focus on four-wheel passenger electric vehicles. The Mumbai-based automaker and BII have executed a binding agreement to invest in the new entity -- "EV Co". [...]
The Finance Ministry Thursday pegged the exchange rate for dollar at Rs 79.90 for calculation of import duty with effect from July 8, as against Rs 78.95 a fortnight ago. The sharp revision is due to depreciation of rupee against dollar following outflow of capital caused by various external factors, including the hardening of interest rate [...]
Union minister Nitin Gadkari on Thursday announced that the government has approved the construction of a road linking Haryana to the upcoming Jewar International Airport in Gautam Budh Nagar district of Uttar Pradesh. The construction of greenfield connectivity to Jewar International Airport (connecting Delhi-Mumbai Expressway) from DND Faridabad-Ballabhag Bypass KMP link in Gautam Budh Nagar [...]
The CBI has arrested Executive Director of Power Grid Corporation of India B S Jha and five officials of Tata Projects, including its Executive VP Deshraj Pathak and Assistant VP R N Singh, in connection with alleged bribery to favour the private company, officials said on Thursday. The probe agency had conducted searches on Wednesday [...]
Demand in the FMCG industry remained soft in the June quarter, with major players Dabur, Marico and Godrej Consumer Products Ltd (GCPL) stating that consumers have titrated consumption as unprecedented inflation continued to impact the share of their income available for spending on consumer staples. The domestic FMCG industry continued to be "hit hard by [...]
