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Tower assets: RIL closes Rs 25,215 crore deal with Brookfield

The telecom business is now an engine of growth for RIL and is now the second largest telecom services provider with over 331 million subscribers.

Industry News

Fight another day: IndiGo board meets, skirts key issues

During a conference call to discuss the June quarter financial results, Dutta said the board meeting would continue on Saturday.

Industry News

Oyo’s Ritesh Agarwal buys back $2 billion worth shares

Founded in 2013, Oyo Hotels & Homes' current portfolio combines fully operated real estate comprising more than 23,000 hotels and 46,000 vacation homes.

Industry News

Monsoon covers entire India, sowing deficit narrows

The consumer affairs ministry data showed average tur dal prices in the rage of Rs 81-87/kg now from Rs 72-77/kg in mid-February.

Economy News

CDPQ set to acquire 3 of Essel’s road projects for Rs 3,500 crore

Upon completion, the deal is expected to bring down Essel Infraprojects' debt to nearly Rs 8,000 crore from Rs 11,466 crore. The deal is part of overall plans of the Subhash Chandra-led Essel group to

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IL&FS effect? CARE Ratings sends MD Rajesh Mokashi on leave

According to sources, the forensic report was sent to CARE Ratings on Wednesday night and it could have been instrumental in sending the rating agency’s CEO and MD Rajesh Mokashi on “leave”.

IL&FS crisis, IL&FS crisis insights, IL&FS crisis, IL&FS crisis news, IL&FS crisis timeline, CARE rating, MD, Rajesh Mokashi, industry news

FPI tax stays; no threat of investor flight, says FM Nirmala Sitharaman

FPIs remained net buyers in most part of 2019, having bought shares and local papers worth $13.08 billion so far this year. This compares with last year’s sale of $4.6 billion in equity and $6.7 bil

Economy News

Make in India: Only half of country’s 268 cellphone makers stay afloat

In December 2018, the prime minister went with the first estimate and spoke of 120 mobile makers. In the Interim Budget on February 1, the finance minister used the 268 number, and said this was a big

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Jet Airways insolvency: Of Rs 25,000 crore claims filed, Rs 8,400 crore admitted so far

Domestic banks and financial institutions have claimed over Rs 6,441 crore, while foreign banks have claimed around Rs 1,569 crore. Claims of workmen and employees stood at Rs 443.56 crore. Operatio

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Netflix to roll out cheaper mobile screen plans for India

The US-based streaming platform said Indian audiences’ “growing engagement” with the platform motivated it to introduce cheap mobile tier offering in the country. The company said it is in India

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Icra revises rating for Reliance Powers’ Rs 8,015-crore debt to ‘default’

In its rating rationale, Icra said the liquidity profile of the company, along with its subsidiaries, continues to remain stretched as evident from considerable decline in the net cash accruals in FY1

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Cleantech Solar to raise $200 million via ECBs

The Singapore-headquartered firm will utilise the fund to expand its capacity to 500 MW in the next couple of years from the existing 200 MW. Cleantech’s around three-fourth of the existing capacity

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India Ratings & Research revises IDFC First Bank’s outlook to ‘negative’

The stressed assets accounted for 8.3% of the gross advances in FY19. The provisions against the stressed book, excluding security receipts, moderated to 55.9% in FY19 from 76.1% in FY18.

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IBC recovery: Cabinet puts financial creditors back on top again

Sources said the government is also considering making a submission explicitly stating the intent of the law before the Supreme Court where the Essar Steel ruling has been challenged by the CoC led by

IBC recovery, Financial creditor, NCLAT, industry news, NCLT, IBC, Supreme Court, essar steel News

RBI surplus: Bimal Jalan panel for staggered transfer over 5 years

The ECF, which determines the central bank’s surplus transfer to the government, was one of the contentious issues in the much-hyped tussle late last year between the finance ministry and former RBI

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Online shopping: Ebix to acquire Yatra for $338 million

A joint statement by the companies indicated that based on the trailing 15-day volume weighted average price (VWAP) of Ebix common stock of $49.05 per share, each Yatra ordinary share convertible into

Online shopping, Ebix, Yatra, industry news, acquisition, e commerce News

Yes Bank probing whistleblower claim

The enquiry resulted in a report that was reviewed by the board in November 2018. Based on further inputs and deliberations in December 2018, the private lender’s audit committee engaged an external

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Jaypee Infratech: NCLAT directs CoC for fresh terms to invite bids

The appellate tribunal has listed the matter for next hearing on Monday. “The counsel appearing for lenders is allowed to file new terms andconditions in case fresh bidding takes place,” the bench

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BSNL, MTNL revival: Government faces costly options

Hyper competition and spectrum auction design led to generation of surplus for the exchequer in the past but any such chances are not there now.

Industry News

Monetisation: FCI to lease out warehouses

Given the National Food Security Act and the government's plan to double farmers' income by 2022, the costs of procurement and storage of grains could rise further in the coming years.

Monetisation, FCI,FCI warehouse, warehouse lease out, food corporation of india, food corporation, economy news, food grain News

DHFL presents debt recast plan to lenders

Mutual funds, who have an exposure of Rs 2,200 crore to DHFL via NCDs and Rs 180 crore of CP, have had a couple of rounds of conversation with the other lenders.

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Govt seeks IndiGo parent’s response on co-founder’s charges

Analysts have said that since any amendment to the AoA requires the approval of at least 75% of shareholders as it is a special resolution, such tweakings appear unlikely given the current shareholdin

Governance issue, Centre, IndiGo, IndiGo airlines, IndiGo share price, allegations, industry news, Interglobe Enterprises News

Carmakers resort to output cuts, shutdowns as sales slip further

As they brace for a possible deceleration due to yet another round of price increases post the new safety and emission norms, auto sector executives are pressing for cut in GST rates or cess.

 Auto sector, industry news, passenger vehicle, PV, GST rates, GST, Auto sector news, FADA data, commercial vehicle News

Suzlon defaults on bond payments worth $172 million

In April, CARE Ratings had downgraded Suzlon Energy’s long- and short-term bank facilities worth a total Rs 16,185.46 crore to ‘D’ from ‘BB’, with a negative outlook on the borrowings.

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India’s exports contract 9.7% in June, worst since January 2016

Goods trade deficit ballooned to $46 billion in the June quarter from almost $36 billion in the previous three months, threatening to reverse the benign current account deficit (CAD) level of 0.7% of

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Tax on FPIs: Relief to less volatile investors not easy — here’s why

FPIs remained net buyers in most part of 2019, having bought shares and local papers worth $13.08 billion so far this year. This compares with last year’s sale of $4.6 billion in equity and $6.7 bil

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Budget 2019: Govt’s planned infra boost calls for overhaul, say analysts

Union Budget 2019: The need to revisit infrastructure financing options before the country was a common thread in the maiden Union Budget 2019 presented by finance minister Nirmala Sitharaman and her

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