New Delhi, Jan 27 (PTI) A consortium of lenders led by State Bank of India (SBI) will soon provide loans to Tata Group for the operations of Air India as well as to retire the airline's high cost borrowings. After nearly 70 years, Tata Group on Thursday regained ownership of Air India. With the completion [...]
State-run Canara Bank on Thursday reported a more that two-fold jump in its profit after tax at Rs 1,502 crore for the quarter ended December 2021, helped by a rise in net interest income (NII) and lower provisions. Its net profit stood at Rs 696 crore in the same quarter of the preceding financial year. [...]
After 69 years, Air India on Thursday returned to its founding father, the Tata Group. The takeover by the salt-to-software conglomerate ends years of failed attempts to sell the money-losing airline that had been kept afloat all these years with thousands of crores of taxpayer money. Tata Group founder JRD Tata had originally launched the [...]
Shares of Torrent Pharmaceuticals on Thursday tumbled 15 per cent after the company's consolidated net profit declined by 16 per cent for the third quarter ended December 2021. The stock tanked 17.69 per cent to Rs 2,601.30 during the day on BSE. It settled at Rs 2,689.10, lower by 14.92 per cent. On NSE, it [...]
New Delhi, Jan 27 (PTI) FMCG major Colgate-Palmolive India Ltd on Thursday reported an increase of 1.6 per cent in its net profit to Rs 252.33 crore for the third quarter ended December 2021. The company had posted a net profit of Rs 248.36 crore in the corresponding quarter of the last financial year, Colgate-Palmolive [...]
New Delhi, Jan 27 (PTI) Tata Group on Thursday took over the ownership of national carrier Air India. "The strategic disinvestment transaction of Air India successfully concluded today with transfer of 100 per cent shares of Air India to M/s talace Pvt Ltd along with management control," DIPAM Secretary Tuhin Kanta Pandey said in a [...]
State-owned Canara Bank on Thursday reported over two-fold jump in its net profit on a standalone basis to Rs 1,502 crore for the December 2021 quarter on the back of lower provisioning. The bank had posted a net profit of Rs 696 crore in the year-ago quarter. Sequentially, the net profit was higher by 13 [...]
Debt-ridden Future Group will exit from the insurance business in a time-bound manner and plans to sell its 25 per cent equity in Future Generali India Insurance Company Ltd (FGIICL) to its JV partner Generali for a cash consideration of Rs 1,252.96 crore, as part of its asset monetisation plans to pare debts. FGIICL is [...]
Imagine Marketing, owner of consumer electronics brand BoAt, has filed a preliminary prospectus with capital markets regulator Sebi to raise Rs 2,000 crore through an initial public offering (IPO). The public issue consists of a fresh issue of equity shares, aggregating up to Rs 900 crore and an offer for sale aggregating up to Rs [...]
Mumbai, Jan 27 (PTI) Mortgage lender LIC Housing Finance (LICHFL) on Thursday reported a 6 per cent increase in profit after tax at Rs 767.33 crore for the quarter ended December 2021, aided by higher collections and drop in provisions. It had reported a profit after tax of Rs 727.04 crore in the same period [...]
