The potential sale of entire government stake in Bharat Petroleum Corp Ltd (BPCL) could result in a reassessment of linkages between the government and oil marketing companies, Fitch group firm India Ratings and...
Punit Goenka to remain Zee’s MD as lenders prepare for share sale
Zee Entertainment’s (Zee’s) Managing Director and Chief Executive Officer Punit Goenka has been reappointed to the position, effective January 1 next year, the broadcaster said on Tuesday, as lenders prepare to sell...
Tata Steel subsidiary to sell entire stake in NatSteel Vina for Rs 36 crore
Tata Steel on Monday said its subsidiary NatSteel Holdings Pte (NSH) has agreed to sell its entire 56.5 per cent stake in NatSteel Vina (NSV) for about Rs 36 crore to a Vietnam-based Thai Hung Trading Joint Stock...
BSNL, MTNL vendors mull insolvency action against telcos over pending dues
Some vendors of BSNL and MTNL are mulling to move insolvency pleas against the state-run firms for non-payment of dues, estimated to be around Rs 20,000 crore, a senior industry body executive said on Monday. The...
Uber India raises Rs 2,539 crore from its parent entity Uber BV
Uber India has raised Rs 2,539 crore from its parent entity Uber BV (the Netherlands). The Indian subsidiary has also moved data of its business and individual users (from its rides and Eats platforms) from Uber BV to...
Berger to acquire remaining 3.59pc stake in STP ‘shortly’
Berger Paints India Ltd plans to soon acquire the remaining 3.59 per cent stake in STP Ltd, taking the total shareholding in the construction chemical company to 95.53 per cent. The paint major said the business and...
Fiat Chrysler, Peugeot owner PSA Group announce $48 billion merger
Fiat Chrysler and Peugeot owner PSA Group have announced the terms of a $48-billion merger that would create the world’s fourth-largest automaker and help spread the huge cost of developing electric and autonomous...
Centrum MicroCredit buys Altura Financial with its Rs 100-crore loan
Centrum MicroCredit has signed an agreement to acquire Altura Financial Services, with a loan portfolio of Rs 100 crore. This is the second acquisition by Centrum after it acquired L&T Finance’s supply chain finance...
TVS Motor ties up with Cadisa to expand distribution in Central America
Chennai-based automobile manufacturer TVS Motor Company, the flagship company of the $8.5-billion TVS group, has entered into partnership with Cadisa, a major business group across Guatemala and El Salvador, to...
Post-merger preparations: PNB seeks time to offload stake in insurance JV
Punjab National Bank (PNB) has written to the Insurance Regulatory and Development Authority of India (Irdai), seeking time for shedding stake in an insurance company, after its amalgamation with Oriental Bank of...
Central Bank to raise Rs 3,353 cr via preferential equity allotment to govt
Central Bank of India on Tuesday said its board of directors has approved to allot shares on a preferential basis to the government to raise up to Rs 3,353 crore. The capital raising committee of the board of directors...
M&A deals set to surge as founders face acute cash squeeze: Axis Capital
Deal volumes in India are set to surge as embattled founders sell businesses to tide over a cash squeeze, according to Axis Capital Ltd., the investment banking unit of one of India’s largest private-sector lenders. “As...
