Intel laid off hundreds of IT workers in US and Costa Rica last week as the company consolidated its IT operations under single vendor, Infosys, reports said. While the number of affected employees from this process of...
Lenders to cash-strapped Jet Airways likely to rework resolution plan
The lenders to debt-hit Jet Airways might have to rework the earlier resolution plan, which would have given them a combined 50 per cent stake in the airline for a rupee. The plan was framed under the Reserve Bank of...
Promoters of Zee Entertainment sell Rs 332 crore worth of shares
The promoters of Zee Entertainment have sold Rs 332 crore worth of the firm’s shares in recent months, according to exchange disclosures. The disclosures show that promoter entity Cyquator Media Services have sold...
SBI moves SC against NCLAT advice to give more cash to StanChart
The Essar Steel’s debt resolution battle has reached the Supreme Court (SC) with State Bank of India (SBI) moving the apex court against the National Company Law Appellate Tribunal (NCLAT) advice to give more cash to...
Tata Motors arm transfers defence business worth Rs 625 crore to TASL
Tata Motors Saturday said it has sold its stake in subsidiary TAL Manufacturing Solutions Limited to sister concern TASL for Rs 625 crore for the aerospace business. Tata Motors also said that it has acquired non...
India to get second largest PSB as Dena, Vijaya to merge with BoB today
The country is set to get its second largest public sector bank, as Dena Bank and Vijaya Bank merger with Bank of Baroda comes into effect on Monday. The new entity will have business of Rs 15 trillion. At the start, it...
Metropolis Healthcare open to acquisitions; IPO to hit Street on Wednesday
Diagnostic firm Metropolis Healthcare, which is launching its Rs 1,200 crore initial public offering (IPO) next week, is open to making further acquisitions in this space. The company has used the inorganic route to...
PNB to sell part stake in housing finance arm for Rs 1,852 crore
State-run Punjab National Bank (PNB) is selling part of its stake in PNB Housing Finance to global private equity firm General Atlantic Group and alternative investment firm Varde Partners for Rs 1,851.60 crore. After...
Cardif sells 5 crore shares in SBI Life Insurance for 2,889 crore
BNP Paribas Cardif, the foreign partner of SBI Life Insurance, Friday sold 5 crore shares of the company for Rs 2,889 crore. The sale was done at average price of Rs 577.93 per equity share. Meanwhile, Canada Pension...
NCLT reads insolvency rules at Orchid Pharma’s promoter group firm
The insolvency resolution procedure will be applied on Orchid Healthcare, a promoter group company of Chennai-based Orchid Pharma, which is already under this procedure. The order, from the bench of the National Company...
BlackBuck in talks with B-Capital, Goldman Sachs to raise $150 mn
Logistics start-up BlackBuck is close to sealing a new financing round of $150 million from new and existing investors to support a major push into financial services, truck servicing and other businesses. This move...
Star Health gets in principle approval from IRDAI for proposed stake sale
Private health insurance major Star Health and Allied Insurance Company Ltd has received an in principle approval from the Insurance Regulatory and Development Authority of India (IRDAI) for the proposed stake sale to a...
