Jet Airways founder Naresh Goyal has decided not to bid for acquiring stake in the cash-strapped airline, sources said Tuesday. The full service carrier, which is currently operating less than 10 aircraft, is awaiting...
Aramco in talks for 25% of Reliance’s refining, petrochemical units: Report
Saudi Aramco, the world’s largest crude oil producer, is in “serious discussions” to acquire up to a 25 percent stake in Reliance Industries’ refining and petrochemicals businesses, the Times of...
NCLT rebukes Sterling Biotech resolution professional, demands explanation
The National Company Law Tribunal (NCLT) reprimanded the resolution professional of Sterling Biotech for failing to discharge his duties and has asked him to submit an explanation as to why he didn’t opt for liquidation...
Japan’s Daifuku buys 100% stake in Vega Automation for undisclosed sum
Japanese material handling equipment supplier Daifuku Co., Limited has acquired Hyderabad-based warehouse automation company Vega Conveyors and Automation for an undisclosed sum. Vega will become a 100 percent...
TCS hungry for acquisitions, scouting for assets to boost growth, says COO
India’s largest IT services firm Tata Consultancy Services (TCS) is “hungry” for acquisitions and is scouting for assets that can bring in intellectual property and widen market reach to further...
Vedanta Resources raises $1 billion through bond issue to repay debt
Miner Vedanta Resources said on Friday it had raised $1 billion through a bond issue and would use the proceeds to repay existing debt. The bonds, sold in two tranches, were issued through Vedanta’s...
Ashok Leyland eyes partnerships in EV space in bid to pare huge R&D costs
Commercial vehicle major Ashok Leyland may look at partnerships in electric vehicles segment in future in a bid to cut huge costs involved in developing new technologies in this space, a top company official said. In...
Blackstone looks to buy more of under-construction office projects
Blackstone, the US-based private equity fund manager, is looking to buy more of under-construction office projects. It is preferring these projects to fully built and leased properties due to more of competition...
Tata Tele merger: DoT seeks Rs 7,200 cr bank guarantee from Airtel
The Department of Telecom has given approval for the merger of Tata Teleservices (TTSL) with Bharti Airtel, subject to the condition that the Sunil Bharti Mittal-led firm furnishes Rs 7,200 crore worth bank guarantee, a...
Telecom dept sets up insolvency panel to tackle issues faced by telcos
The Department of Telecommunications (DoT) has set up a committee that will look into contentious issues arising out of telecom companies that are going through the insolvency process. The six-member committee under the...
Etihad submits EoI for crisis-hit Jet Airways, Naresh Goyal may follow suit
Abu Dhabi-based Etihad Airways has submitted an expression of interest (EoI) to buy a stake in Jet Airways within weeks of wanting to exit the venture completely. Etihad holds a 24 per cent stake in the Naresh Goyal...
Wipro board to consider equity share buyback proposal on April 16
Information technology (IT) major Wipro on Wednesday said it would consider a buyback proposal in its next board meet scheduled on April 16. If the proposal is approved, this will be the third such buyback by the...
