Oriental Bank of Commerce (OBC) on Thursday said that its board hasn’t approved any “specific proposal” on merging any other public sector lender with itself. The bank hasn’t sought the finance ministry’s approval on...
BoB proposes to raise Rs 11,900 crore through share sale in FY’20
State-owned Bank of Baroda (BoB) plans to raise Rs 11,900 crore during the current fiscal through share sale, including Employee Share Purchase Scheme to shore up capital for meeting business expansion requirement. The...
Private equity firm ADV Partners buys Tata DLT
Tata International and Sri Lanka-based Dutch Lanka Trailer Manufacturers (DLTM) are about to sell their 50-50 joint venture company Tata International DLT (Tata DLT) to Canyon Point Investment, a wholly-owned subsidiary...
NMDC mulls acquiring 100 percent stake in its Aussie arm-Legacy Iron
State-owned NMDC Limited is mulling owning 100 per cent stake in Australian arm Legacy iron by acquiring the remaining 24 per cent shares and delisting it from the Australian Stock Exchange (ASX), a senior official of...
AstraZeneca moves US court against Aurobindo Pharma on generic Daliresp
Pharma major AstraZeneca has filed a petition in a US court, alleging that Aurobindo Pharma is attempting to come out with the generic version of its patented drug Daliresp (Roflumilast Tablet 500 mcg). In a petition...
Adani keen on acquiring Jaypee Infratech assets, approaches RP, CoC
After failing to acquire debt-laden Jaypee Infratech earlier, Adani group has again evinced interest in taking over the cash-strapped real estate developer and has urged the committee of creditors (CoC) to allow it to...
Govt eyes REITs model for sale of PSU assets, enemy property
The finance ministry is looking at the innovative Real Estate Investment Trusts (REITs) model for sale of land assets of CPSEs and also those which are classified as ‘enemy property’ by the government. REITs, which are...
Airline foray? Adani Group may bid for Jet Airways
The Adani Group is likely to bid for Jet Airways as the airline goes through a bidding process to get a new investor in April, two sources close to the development told FE. The group, with interests in logistics, energy...
Jet Airways crisis: Banks ask Naresh Goyal to pledge his 51% stake
Bankers to Jet Airways are understood to have asked promoter Naresh Goyal to pledge his entire stake of 51% in the carrier to them as they consider throwing him a lifeline in the form of interim funding. Bankers...
IDBI Bank goes for operational rejig after LIC deal
IDBI Bank on Wednesday sought bids from consultants to carry out an organisational restructuring and help tap synergies between the lender and its new promoter, Life Insurance Corporation (LIC) of India. LIC completed...
Can Mindtree founders fend off L&T takeover bid?
Mindtree founders are making every possible effort to stave off a hostile takeover bid by L&T, which has launched an open offer for 31 per cent company shares after buying 20.32 per cent stake from investor V G...
Donald Trump puts pressure on General Motors CEO to sell Ohio plant
A day after demanding that General Motors Co. keep open a plant in Lordstown, Ohio, that it’s idling, President Donald Trump said he asked Chief Executive Officer Mary Barra to sell the plant and tried to shift blame to...
