Bharti Airtel International (Netherlands) BV, which manages Airtel's Africa business, has issued a tender offer to buy back up to USD 300 million (about Rs 2,348 crore) of senior notes, the country's second largest telecom company said on Wednesday. The company's tender offer to purchase USD 300 million worth of its 5.35 per cent guaranteed [...]
Capital markets regulator Sebi on Wednesday sent a notice to Future Enterprises asking it to pay over Rs 5 lakh in a matter pertaining to disclosure lapses about initiation of arbitration proceedings against Future Group by Amazon. The regulator also warned the company of attachment of assets and bank accounts if it fails to make [...]
Bengaluru-based startup GIVA, which sells silver jewellery, has raised funds from investors led by Aditya Birla Ventures to expand its business. In a statement, GIVA said it has completed a Series B round of funding led by Aditya Birla Ventures and A91 Partners, along with the participation of Sixth Sense Ventures. The company did not [...]
The CBI has booked Dewan Housing Finance Ltd, its former CMD Kapil Wadhawan, director Dheeraj Wadhawan and others in a fresh case involving Rs 34,615 crore, making it the biggest bank fraud probed by the agency, officials said Wednesday. Following the registration of case, a team of over 50 officials from the agency carried out [...]
India's largest software firm TCS has bagged a deal to drive business process transformation at Aadhar Housing Finance for an undisclosed sum, the companies said on Wednesday. The domestic housing financier will be deploying the Tata group company's lending and securitisation platform for market expansion, according to a statement. The partnership with TCS is for [...]
Varun Beverages chairman Ravi Kant Jaipuria has settled with capital markets regulator Sebi a case related to alleged violations of insider trading rules after paying nearly Rs 56 lakh towards settlement charges. It was alleged that Jaipuria had communicated unpublished price-sensitive information (UPSI) relating to a strategic partnership between Varun Beverages Ltd (VBL) and PepsiCo [...]
The shares of steel giant Tata Steel Limited declined more than 4.25% in the first half of the trading session on Wednesday and hit their new 52-week low of ₹ 842 per share. The steel rally has seemingly come to an end as the share price of India’s top steelmaker has declined more than 45% [...]
Tata Steel has not made any purchase of PCI coal from Russia post its April announcement of severing business ties with Russia amid the ongoing conflict with Ukraine, a company spokesperson said on Wednesday. On April 20, Tata Steel had said it would stop doing business with Russia. To ensure business continuity, all its steel [...]
The shares of UPL Ltd., a large-cap agriculture solutions provider hit their new 52-week low of ₹ 617.75 today at 11:45 IST. The stock is down -19% year to date and -22% in a month after the buyback offer closed . The Mumbai-based company, previously known as United Phosphorus Limited, manufactures and markets herbicides, fungicides, [...]
Shares of Jain Irrigation Systems Ltd on Wednesday rose 17 per cent after the company said its global irrigation business will be merged with Temasek-owned Rivulis in a cash-and-stock deal, a move that will help the firm to reduce its consolidated debt. The stock jumped 17 per cent to Rs 43.90 on the BSE. At [...]
Electric two-wheeler maker Okinawa Autotech on Wednesday said it will invest Rs 500 crore to set up a new manufacturing plant at Karoli in Rajasthan. Spread across 30 acres of land, the factory will have an annual production capacity of 10 lakh units and will be fully operational from October 2023, Okinawa Autotech said in [...]
HCL Technologies DRYiCE™ announced the launch of DRYiCE IntelliOps (IntelliOps), a solution addressing the full-stack AIOps and observability needs of an enterprise. Enterprises today have invested heavily in complex solutions for digital initiatives to modernize their technology landscape while trying to support user expectations for continuously available digital services, but a few challenges impede their [...]
Adani Enterprises and 10 other companies including offshore firms have expressed interest in bidding for coal import tenders floated by Coal India Limited, the public sector minor said on Tuesday. In a statement, the miner said it has held three pre-bid meetings with prospective coal importing agencies evincing interest in pitching in, in the three [...]
Debt-ridden Future Enterprises Ltd (FEL) has defaulted on payment of interest of Rs 6.07 crore for its non-convertible debentures. The due date for payment was June 20, 2022, said a regulatory filing from FEL. "The Company is unable to service its obligations in respect of the interest on Non-Convertible Debentures was due on June 20, [...]
Private sector lender South Indian Bank (SIB) is planning to raise up to Rs 2,500 crore to shore up its capital base for business growth and meet regulatory norms. The bank's shareholders had given approval for this fundraise in the previous AGM last fiscal, however, the bank did not raise the funds. A banking company [...]
CK Birla Group firm, Hindustan Motors Ltd on Tuesday said it has agreed to sell its 'Contessa' brand to SG Corporate Mobility Pvt Ltd for an undisclosed sum. The company has executed a brand transfer agreement with SG Corporate Mobility Pvt Ltd on June 16, 2022 for the transfer of the Contessa brand, including the [...]
It is not easy for an airline to operate in India and if the Tata Group cannot make Air India work, no one else in the country will be able to do so, Emirates President Tim Clark has said. “Air India should be as big as United Airlines. It should be as big because of [...]
After facing a rough few sessions, the shares of Manali Petrochemical Ltd has shown a sign of relief on Tuesday. The shares of the company have fallen 36% in the previous 30 sessions. As of Tuesday, the stock is trading at ₹98 and is up by 11.68% IST 14.06. For the March quarter of 2022, [...]
Home appliance maker Whirlpool of India is expecting a better performance this fiscal after having a muted demand in FY22, as it sees green offshoots and a rebound in consumer sentiments, according to its Managing Director Vishal Bhola. In his address to shareholders in the latest annual report of the company, Bhola, however, said global uncertainties [...]
State-owned Oil and Natural Gas Corporation (ONGC) is seeking a minimum USD 17 price for the gas it plans to produce from coal seams in its Bokaro CBM block in Jharkhand. ONGC invited bids for the sale of 0.20 million standard cubic metres per day of gas it plans to produce from the Bokaro CBM [...]
