The nation's largest lender State Bank of India on Wednesday marginally increased the short-term lending rates across overnight to three year maturities by 10 basis points (bps) with immediate effect. While banks have almost fully passed on the 250 bps interest rate hikes by the Reserve Bank since last May, they have not yet increased [...]

State-owned power giant NTPC plans to raise term loan of USD 750 million (about Rs 6,213 crore) in Japanese Yen (JPY) denomination to finance its capital expenditure on new and ongoing projects. The company has sought bids for the JPY loan, which is to be raised through External Commercial Borrowing route. According to a bid [...]

Registrar and transfer agent of mutual funds Computer Age Management Services Ltd (CAMS) on Wednesday said its payment platform CAMSPay, has received in-principal authorisation from the Reserve Bank of India to operate as a payment aggregator, the company said on Wednesday. CAMSPAy, a payment platform specialising in solving banking and finance services sector's payment challenges [...]

Auto components maker Uno Minda Ltd will invest Rs 175 crore to expand its facility at Neemrana in Rajasthan to meet the growing demand for airbags ahead of mandatory norm of six airbags for passenger cars and SUVs coming up in October this year, according to its group CFO Sunil Bohra. The company, which has [...]

National Skill Development Corporation has entered into a partnership with HDFC Life to impart skills among youth in the insurance sector, in a bid to facilitate livelihood creation and promote entrepreneurship opportunities. As part of this collaboration, NSDC will support HDFC Life in inducting trained life insurance advisors. It will also provide training to candidates [...]

Billionaire Gautam Adani's embattled conglomerate said its balance sheet is "very healthy" and is laser focused on continuing business momentum, as it looked to reassure investors to keep faith in the conglomerate despite a share rout triggered by a damning report by a US short-seller. Group CFO Jugeshinder (Robbie) Singh in an earnings call said [...]

Digital financial services firm One97 Commuications, which operates under the Paytm brand, on Tuesday said it has completed buyback of shares worth Rs 849.83 crore at an average price of Rs 545.93 per share. The company bought back shares in the price range of Rs 702.65 to Rs 480.25 apiece, according to a regulatory filing. [...]

Billionaire Anil Agarwal's Vedanta Resources Ltd on Wednesday said it has slashed debt by USD 2 billion in the current fiscal as it looked to soothe investor concerns over ability to repay upcoming obligations. The company, which is the parent firm of Mumbai-listed Vedanta Ltd, had a net debt of USD 9.66 billion as of [...]

Nomura India Investment Fund on Tuesday acquired shares of Phoenix Mills, a retail led mixed-use developer, for Rs 326 crore through open market transactions. Nomura India Investment Fund Mother Fund bought a total of 24,89,259 shares on both BSE and NSE, amounting to 1.39 per cent stake in the company, as per bulk deal data [...]

In one of the largest aircraft orders by an airline, Tata Group-owned Air India on Tuesday announced it will buy 470 narrow-body and wide-body planes from Airbus and Boeing, with the total deal value estimated to be worth USD 80 billion (over Rs 6.40 lakh crore). Air India will buy 250 aircraft, including 40 wide-body [...]

Tata Group-owned Air India will buy 250 aircraft, including 40 wide-body planes, from Airbus as the airline expands its fleet and operations. This is the first time in more than 17 years that Air India has placed an aircraft order. It is also the first order placed by the carrier under the ownership of Tata [...]

Fintech firm PhonePe has raised another USD 100 million (about Rs 828 crore) in primary capital from new investors Ribbit Capital and TVS Capital Funds with participation from existing investor Tiger Global, at a pre-money valuation of USD 12 billion, the company said on Tuesday. This follows a USD 350 million primary fundraise by the [...]

Himachal Pradesh chief minister Sukhvinder Singh Sukhu on Tuesday launched the fifth generation (5G) internet network of telecom service provider Jio in the state. Expansion of 5G services would further strengthen the digital infrastructure in the state, which would bring new opportunities besides enriching the experiences for every individual especially students, businessmen and professionals, the [...]

Market regulator SEBI has indicated to the Supreme Court that it is not in favour of banning short-selling or sale of borrowed shares, and said it is investigating allegations made by a tiny short-seller against the Adani Group as well as its share price movements. The Securities and Exchange Board of India (SEBI) in written [...]

ICICI Bank and BNP Paribas have signed an initial pact to cater to the banking requirements of European corporates operating in India and Indian companies in the European Union. The Memorandum of Understanding (MoU) between the two entities establishes a framework of partnership between the two banks for providing financial services to corporate customers operating [...]

GE Marine and Hindustan Aeronautics Limited on Tuesday said that have signed a Memorandum of Understanding to explore the expansion of HAL's manufacturing capabilities to include assembly, inspection and testing (AIT) of the LM500 marine gas turbine. Since 1986, HAL's IMGT Division has been providing AIT of GE's LM2500 marine gas turbine, which is installed [...]

The Hindustan Aeronautics Limited has an order book position of Rs 84,000 crore and another Rs 50,000 crore worth of orders are in the pipeline, its Chairman and Managing Director C B Ananthakrishnan said on Tuesday.           He also said Argentina and Egypt have evinced interest in buying the HAL-built Light [...]

India will require around 2,210 new planes in the next two decades and out of them, 1,983 units will be single-aisle jets, Boeing said on Tuesday as it projected a nearly 7 per cent annual domestic air traffic growth through 2041. Unveiling its 2022 Commercial Market Outlook (CMO) for India, Boeing said that largely driven [...]

Shares of SpiceJet on Tuesday fell by 4 per cent on Tuesday after the apex court directed the airline to encash bank guarantee and pay Rs 270 crore to its former promoter Kalanithi Maran. The scrip of the company declined 3.99 per cent to Rs 33.65 apiece on the NSE. The stock witnessed a similar [...]

Competition Commission of India on Monday approved the acquisition of commercial real estate assets by Nexus Select Trust. Nexus Select Trust is a Sebi-registered real estate investment trust (acquirer REIT) and is backed by global investment firm Blackstone. The proposed transaction involves the direct acquisition of 100 per cent shareholding of 15 entities and indirect [...]

Hulst BV, the promoter of Coforge Ltd (formerly NIIT Technologies), on Monday offloaded 9.8 per cent stake in the IT company for Rs 2,430 crore through an open market transaction. Hulst BV is owned and controlled by BPEA (Baring Private Equity Asia). According to the bulk deal data available with the National Stock Exchange (NSE), [...]

Homegrown navigation firm MapmyIndia on Monday said it has acquired 11.11 per cent strategic stake in drone startup Indrone for about Rs 3 crore. With this deal, MapmyIndia and Indrones will jointly offer drones and drone-based solutions across all use cases, including surveying, mapping, inspections and real-time monitoring. "This is further to our letter dated [...]

Shares of Adani group companies settled lower on Monday, with flagship company Adani Enterprises witnessing a 7 per cent slump after credit rating firm Moody's revised the rating outlook on four companies of the conglomerate to 'negative' from 'stable'. Amid volatile trading in the market, shares of the group companies closed in the red. "Adani [...]

Kalpataru Power Transmission will seek shareholders' approval to appoint Shailendra Kumar Tripathi as its Deputy Managing Director. As per a postal ballot notice, the company proposes to appoint Tripathi as Deputy Managing Director for the period January 4, 2023 to October 21, 2025. It has also proposed combining monetary limits sanctioned by shareholders of the [...]

The USD 57-billion HDFC-HDFC Bank deal helped the overall merger and acquisition activity in the country rise by 40 per cent to reach USD 163 billion in 2022, a report said on Monday. Strategic deals like the one involving the HDFC twins accounted for a bulk USD 126 billion of the overall quantum, while transactions [...]

Five state-run general insurance companies have a total exposure of Rs 347.64 crore, or 0.14 per cent of their total assets under management (AUM), in Adani group of companies, Finance Ministry said on Monday. In reply to a question on details of money lent by banks and financial institutions to the Adani group, the Minister [...]

Billionaire Mukesh Ambani's Reliance Industries Ltd and state-owned Oil and Natural Gas Corporation (ONGC) are separately auctioning natural gas extracted from coal seams at prices linked to Brent crude oil price. Reliance is seeking a minimum USD 12.75 per million British thermal unit for coal bed methane (CBM) from a block in Shahdol district of [...]

Realty firm Brigade Enterprises has sold housing and commercial properties worth Rs 2,618.5 crore during the first three quarters of 2022-23 fiscal, up 31 per cent from the year-ago period, on better demand and higher price realisation. Bengaluru-based Brigade Enterprises is one of the leading real estate firms in the country with a strong presence [...]

The National Company Law Tribunal (NCLT) has directed to initiate insolvency proceedings against Zee Learn, following a petition filed by private sector lender Yes Bank Ltd. Yes Bank Ltd (YBL) had claimed a default of Rs 468.99 crore by the Essel Group company. Out of the default amount of Rs 468.99 crore, the principal amount [...]