By Nidhi Verma and Siddhi Nayak NEW DELHI (Reuters) – Indian Oil Corp will recoup $61.14 million of jet fuel sales to cash-strapped Go First by cashing in bank guarantees and is optimistic it will recover a further $6.11 million for unsecured sales made in the past few months, sources said. IOC, the country’s largest …
Indian Oil to recoup most dues from Go First through bank guarantees – sources Read More »
By Arpan Chaturvedi and Jayshree P Upadhyay MUMBAI (Reuters) – India’s Supreme Court has allowed the National Company Law Tribunal (NCLT) to proceed with its enquiry and any subsequent action against the auditors of IL&FS Financial Services, a unit of Infrastructure Leasing and Financial Services that filed for bankruptcy in 2018. The Supreme Court upheld …
India Supreme Court clears tribunal to act against IL&FS auditors Read More »
BENGALURU (Reuters) – Indian jewellery and watch maker Titan Co Ltd reported an almost 50% jump in fourth-quarter profit on Wednesday as demand for its watches and wearables rose alongside jewellery. The Tata Group company’s profit rose to 7.34 billion rupees ($90 million) in the three months ended March 31, from 4.91 billion rupees a …
India’s Tata Group-owned Titan posts 50% jump in Q4 profit Read More »
By M. Sriram and Rama Venkat BENGALURU (Reuters) -Brookfield Asset Management and Tata Group are in talks to invest in the upcoming initial public offering (IPO) for Nexus Malls, betting that the Indian real estate investment trust will benefit from a rise in the country’s consumption levels, two sources told Reuters. The IPO, the first-ever …
Brookfield, Tata in talks to invest in India’s Nexus Malls IPO – sources Read More »
BENGALURU (Reuters) – India’s Tata Steel Ltd reported an almost 83% slump in fourth-quarter profit on Tuesday, hurt by falling demand in Europe and weak steel prices. The steelmaker’s consolidated profit was 17.05 billion rupees ($208.4 million) in the fourth quarter ended March 31, compared with a profit of 97.56 billion rupees a year earlier. …
BENGALURU (Reuters) – India’s DCM Shriram Ltd reported a 53.5% fall in its fourth-quarter profit on Tuesday, hurt by a rise in raw material and power costs. The company’s consolidated net profit fell to 1.87 billion rupees ($22.8 million) compared to 4.01 billion rupees a year ago. Revenue from operations also fell marginally to 28.49 …
India’s DCM Shriram posts 54% fall in Q4 profit as costs surge Read More »
NEW DELHI (Reuters) – Hindustan Zinc Ltd’s proposal to buy certain zinc assets from Vedanta Group for $2.98 billion in cash has lapsed as the Indian miner did not get shareholders’ approval within the stipulated time limit, said two government sources. The deal was announced in mid-January, after which Hindustan Zinc had three months to …
Indian miner Hindustan Zinc’s all-cash bid for Vedanta’s assets lapses – sources Read More »
(Reuters) – Cash-strapped Indian airline Go First Airways filed for voluntary insolvency resolution proceedings in the National Company Law Tribunal on Tuesday. Following are some details on the budget carrier: Go First was incorporated in April 2004 as GoAir and commenced flight operations in November the following year. Its inaugural flight was from Mumbai to …
Factbox-India’s Go First seeks insolvency resolution as engine trouble grounds fleet Read More »
NEW DELHI (Reuters) – Former India team mates Virat Kohli and Gautam Gambhir were docked their full match fees following their altercation in Monday’s Indian Premier League (IPL) match in Lucknow, organisers said. Kohli’s Royal Challengers Bangalore had been beaten at home last month by Lucknow Super Giants, who have former test opener Gambhir as …
Cricket-Kohli, Gambhir docked full match fees over IPL altercation Read More »
By Bharath Rajeswaran BENGALURU (Reuters) -Indian shares advanced on Tuesday, aided by broad-based gains across sectors, driven by March-quarter earnings, as investors await the interest rate decision by the U.S. Federal Reserve on Wednesday. The Nifty 50 was up 0.49% to 18,153.10 as of 9:51 a.m. IST, while the S&P BSE Sensex gained 0.45%. Twelve …
