Returning to profit in FY22 after witnessing heavy losses for two consecutive years, Yes Bank has kicked off the process of forming an alternate board as it has come out of the reconstruction scheme. The central government had notified the Yes Bank Reconstruction Scheme on March 13, 2020 after the private lender faced governance crisis [...]
Housing demand is likely to be affected in short-term as home loans are set to become costlier following the RBI's decision to hike repo rate by 50 basis points, according to real estate developers. The cost of borrowing for developers could also increase, impacting their profit margins, they said, while hoping that the move would [...]
German sports luxury car manufacturer Porsche on Wednesday said it has forayed into pre-owned car segment in India. The Porsche Approved programme is now available across India with a comprehensive warranty on pre-owned cars for a minimum of 12 months, including access to the 24-hour roadside service after passing a rigorous 111-point inspection, the automaker [...]
Former chairman and managing director of Religare Enterprises Limited (REL) Sunil Godhwani has been arrested in connection with a 2020 case related to fraud worth Rs 800 crore, police said on Tuesday. Godhwani, who was already in judicial custody in a case registered by the Economic Offences Wing of the Delhi Police for allegedly misappropriating [...]
PB Fintech co-founder and CEO Yashish Dahiya on Tuesday offloaded nearly 38 lakh shares of the company for Rs 230 crore through an open market transaction. PB Fintech operates the online insurance platform Policybazaar and credit comparison portal Paisabazaar. According to bulk deal data available with the National Stock Exchange (NSE), Dahiya sold a total [...]
Capital markets regulator Sebi on Tuesday tweaked the cyber security and cyber resilience framework for stock brokers as well as depository participants and mandated them to conduct a comprehensive cyber audit at least once in a financial year. Along with the cyber audit reports, stock brokers and depository participants have been asked to submit to [...]
Markets regulator Sebi has ordered attachment of bank accounts as well as share and mutual fund holdings of Rose Valley Hotels and Entertainment Ltd and its then directors to recover investors' dues totalling over Rs 1,000 crore. This recovery proceeding has been initiated against them to recover Rs 1,006.70 crore collected by the company through [...]
Ace cricketer Mahendra Singh Dhoni has picked up stake in drone start-up Garuda Aerospace, the company said on Tuesday. Garuda Aerospace is promoted by its founder-CEO Agnishwar Jayaprakash and has over 300 drones and 500 pilots operating in 26 cities. Prime Minister Narendra Modi had unveiled drone manufacturing facilities by the company recently. Dhoni was [...]
Describing winning the bid for acquiring a majority stake in Odisha-based Neelachal Ispat Nigam Ltd (NINL) as "crucial" for the company's growth trajectory, Tata Steel on Tuesday said it provides enablers to go well beyond the 40 MTPA (million tonne per annum) target. Tata Steel arm - Tata Steel Long Products (TSLP)- had in January [...]
The government plans to monetise assets worth Rs 75,220 crore in the coal mining sector in the current financial year. The monetisation of coal blocks is likely to generate a revenue of Rs 52,200 crore, followed by Rs 20,320 crore from projects on Mine Developer and Operator (MDO) model, Rs 2,000 crore from discontinued mines [...]
