Assets worth Rs 150 crore, which were fully insured, were affected in the massive fire at its Neemrana-based manufacturing unit, said consumer electrical goods manufacturer Havells India. On July 27, a massive fire had broken out at Havells factory at Neemrana in Rajasthan's Alwar district. There was no human loss/injury and the entire building, plant [...]
Debt-ridden Future Enterprises Ltd (FEL) said it has defaulted on payments of interest of two non-convertible debentures totalling Rs 12.68 crore. The due date for payment was August 17, 2022, FEL said in a regulatory filing. "The company is unable to service its obligations in respect of the interest on Non-Convertible Debentures (NCDs) due on [...]
American Balanced Fund on Thursday offloaded 2.9 crore shares of real estate investment trust Embassy Office Parks REIT for Rs 1,046 crore through an open market transaction. According to the bulk deal data available with BSE, American Balanced Fund sold 2,92,62,468 shares of the company. The shares were disposed of at an average price of [...]
IT company Wipro has held back variable pay of employees mainly due to pressure on margins, inefficiency in its talent supply chain and investment in technology, according to sources. According to the sources, the company has informed employees in an email about the cut in variable pay. Two sources aware of the development told PTI [...]
SpiceJet and Swiss firm Credit Suisse AG Thursday told the Supreme Court about the resolution of their financial dispute which led to the withdrawal of an appeal by the low-cost airline against a Madras High Court verdict which had ordered its winding up due to alleged non-payment of dues to the Swiss firm. "There is [...]
The Department of Telecom has received upfront payment of around Rs 17,876 crore from Bharti Airtel, Reliance Jio, Adani Data Networks and Vodafone Idea for spectrum they won in a recent auction, according to sources. While all telecom operators have opted to make payments in 20 annual installments, Bharti Airtel has paid Rs 8,312.4 crore [...]
Telecom operator Bharti Airtel has paid Rs 8,312.4 crore to the Department of Telecom towards dues for spectrum acquired in the recently concluded 5G auctions, the company said on Wednesday. With the payment, Airtel has paid four years of 2022 spectrum dues upfront. Airtel said it believes that this upfront payment, coupled with the moratorium [...]
The US private equity major KKR on Tuesday sold 27 per cent stake in hospital chain Max Healthcare Institute for Rs 9,185 crore through open market transactions. The shares were picked up by a host of entities, including the Government of Singapore, Monetary Authority of Singapore, Smaller Cap World Fund Inc, New World Fund Inc, WF Asian [...]
Future Consumer Ltd (FCL) has defaulted on the payment of Rs 51.85 crore towards principal and interest due on non-convertible debentures, a regulatory filing said on Tuesday. The default which happened on August 15, 2022, includes an interest amount of Rs 10.73 crore and a principal Amount of Rs 41.12 crore, FCL said a regulatory [...]
Adani Logistics, a wholly-owned subsidiary of Adani Ports and Special Economic Zone Ltd, on Tuesday said it has signed a definitive agreement to acquire ICD Tumb (Vapi) from Navkar Corporation for Rs 835 crore. Adani Logistics Ltd (ALL) in a statement said the deal comprises the acquisition of the operational ICD with a capacity to [...]
