of Hutchison's stake in Hutch-Essar in 2007.
Gulf carrier Etihad Airways, seeking to widen operations in India and other Asian markets, is in the final stages of talks to buy part of either Jet Airways or grounded rival Kingfisher Airlines, an Indian government official said on Monday.
India's debt-laden and grounded Kingfisher Airlines said on Monday it will "restart in a phased manner," with own funding, and will not seek banks' support.
Kingfisher Airlines promoter Vijay Mallya will pump in 4.25 billion rupees into the grounded airline as the first step to kick-start its operations, albeit in a limited way. Exactly a decade after he launched India's first low-cost carrier (LCC) Air Deccan and five years after he was forced to sell it off, Captain G R Gopinath is all set to make a comeback with a startup.
The 32-km Phase-II of the Mumbai Metro project, bagged by Reliance Infrastructure, faces termination in the absence of substantial progress.
Reliance Power promoters, Reliance Infra, Reliance Innoventures and AAA Project Ventures will sell 5.42 percent stake in the company through separate window in BSE.
The Reserve Bank of India on Monday allowed property developers to borrow money overseas through external commercial borrowing (ECB) for funding low-cost housing projects.
The government will this month finalize the bid documents for all new power projects, including those capable of generating 4,000 megawatts (MW), in which it will specify that these be transferred to the electricity buyers at the end of the 25-year power purchase agreements (PPAs).
Auto giant Mahindra & Mahindra is in advanced negotiations to buy out its American partner Navistar's stake in the 51:49 commercial vehicle joint venture Mahindra Navistar Automotives Ltd (MNAL). According to sources, the negotiations are almost complete and an announcement is expected shortly.
India's competition watchdog is investigating anti-competitive practices by carmakers, the country's corporate affairs minister Sachin Pilot said in a written reply in parliament on Monday.
Bracing for tough times ahead, Tata Motors, India's largest automobile manufacturer in revenues, has embarked on a major belt tightening exercise. The company is making efforts