IndiGo co-founder and interim CEO Rahul Bhatia, in an investor call, on Wednesday said that the airline will look at any opportunity that the current aviation market throws up along with its growth strategy of growing...
‘ONGC bought GSPC gas field stake for half the asking price of Rs 20k cr, replacement cost’
State-owned ONGC bought Gujarat State Petroleum Corp’s (GSPC) stake in a KG basin gas block for USD 1.2 billion (about Rs 8,000 crore) when the replacement value of brand new assets built by the company is at least USD...
Outbound activity drives Merger and Acquisition’s robust growth in Q3 of 2018
Merger and acquisition (M&A) deal values recorded a 5.3-times increase year-on-year (y-o-y) in the third quarter of calendar year 2018 (Q32018) driven by outbound activity, according to a dealtracker report by Grant...
Jack Ma backed Alibaba in talks to check in at Spencer’s Retail, say reports
The global e-commerce major Alibaba is eyeing a stake in food and grocery chain, Spencer’s Retail, according to various newspaper reports. RP-Sanjiv Goenka’s retail chain, which is a wholly-owned subsidiary of CESC Ltd...
Hathway: Acquisition or tie-up is a key upside catalyst
The wired broadband market offers significant growth potential, and Hathway is actively engaging to improve subscriber traction in it. Offering Android set-top boxes is an interesting proposition to attract customers...
Bank Unions to protest against PSU banks’ merger decision on Tuesday
A bank employee unions’ federation has called upon bank unions to hold demonstrations Tuesday to protest against the merger of three state-run lenders –Bank of Baroda, Vijaya Bank and Dena Bank, a union leader said...
Punjab National Bank MD rules out acquiring other public sector banks
Ruling out possibility of inorganic expansion, Punjab National Bank Managing Director Sunil Mehta said the bank is currently focussed on internal consolidation and making it financially healthy. With Rs 14,000 crore...
MCA moves NCLT for removal of IL&FS subsidiaries’ management
The ministry of corporate affairs (MCA) on Friday filed an application with the Mumbai bench of the National Company Law Tribunal (NCLT), seeking to direct the newly constituted board of IL&FS to sack the management...
PSB mergers a good idea? The problem gets rolled over for another day unless this big issue is tackled
The government’s decision to merge three public sector banks, Bank of Baroda, Dena Bank and Vijaya Bank, has brought the issue of bank consolidation under the spotlight. This comes close on the heels of the merger of...
Cuba, US to establish historic biotech joint venture
Cuba and the US will establish a historic biotech joint venture based in Havana to develop new cancer treatments, official sources said. The Cuban-American biotechnology company: Innovative Immunotherapy Alliance S.A...
PNB to raise Rs 8,580 cr from sale of non-core assets in H2
To beef up its capital base, fraud-hit Punjab National Bank (PNB) has set a target to mobilise Rs 8,583 crore in H2FY19 by monetisating non-core assets. In the January-September period, it had mopped up Rs 1,567 crore...
IDBI board to consider allotment of 51% shares to LIC on October 4
State-owned IDBI Bank said Friday its board will meet next week to consider preferential allotment of up to 51 per cent shares to insurance behemoth LIC to acquire the debt ridden bank. In a regulatory filing, IDBI Bank...
