Finsbury Glover, Sard Verbinnen To Merge; Financial Terms Undisclosed

Finsbury Glover Hering, a global public affairs consultancy, and Sard Verbinnen & Co, a strategic communications firm, on Wednesday jointly announced their merger to create a strategic communications company. Financial terms of the transaction were not disclosed. The merger is expected to be complete in the last quarter of 2021 and the combined company will operate under a new name […]

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India's IndiGo sees Tata as 'formidable competition' after Air India deal

IndiGo controls more than half of the Indian domestic market but its international operations are far smaller than Air India’s India’s largest airline IndiGo expects Tata Sons to be "formidable competition" once the conglomerate finalises its $2.4 billion purchase of Air India from the government, the budget airline’s chief executive said. Tata also owns a majority stake in Vistara, a […]

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Tata Sons wins bid to acquire Air India

Tata Sons beat SpiceJet promoter to bag Air India. Salt-to-software conglomerate Tatas have won the bid to acquire debt-laden state-run Air India offering ₹18,000 crore for acquiring 100% shareholding, a senior government official said on Friday. An SPV of Tata Sons — the holding company of conglomerate — has emerged as successful bidder, Tuhin Kanta Pandey, secretary to the Department […]

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Goal is to create ecosystem for EVs: Greaves Cotton MD

‘Will serve needs for parts, maintenance, multi-brand items’ Engineering firm Greaves Cotton is engaged in transforming itself into a green-energy entity with a focus on electric mobility. It has made acquisitions in the electric vehicle (EV) space. The company has planned capital investment of ₹700 crore over 10 years in its upcoming plant in T.N., said MD and Group CEO, […]

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Ola commences sale of electric scooter S1

Ola Electric on September 15 commenced the sale process of its electric scooter S1. The electric scooter, which comes in two trims —Ola S1 and S1, is available to purchase on the Ola App only currently, and not on the website. While the sale was to start on September 8, it postponed the process by a week to September 15, […]

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‘Gross NPAs of banks to cross ₹10 lakh crore in March 2022’

The Assocham and Crisil report also noted that the expected increase in GNPAs of both banks and non-banks would lead to resolutions through various routes With fresh slippages in retail and MSME loans, the gross non-performing assets (GNPAs) of commercial banks are expected to exceed ₹10 lakh crore by March 2022, Assocham and Crisil said in a joint report. “NPAs […]

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Maruti Suzuki hikes vehicle prices by up to 1.9%

This is third price hike announcement by the country’s largest carmaker this year. The country’s largest carmaker Maruti Suzuki India (MSI) on Monday said it has increased prices of its entire product range, except Celerio, by up to 1.9 per cent with immediate effect. Also read: Maruti Suzuki to recall over 1.81 lakh vehicles In a regulatory filing, the company […]

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SEBI tweaks investor grievance redressal mechanism framework

The regulator has modified framework pertaining to speeding up grievance redressal mechanism and threshold limit for interim relief paid out of investor protection fund Capital markets regulator Securities and Exchange Board of India (SEBI) on Friday tweaked the framework on investor grievance redressal mechanism after receiving representation from stock exchanges. The regulator has modified framework pertaining to speeding up grievance […]

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India's coal import rises 50% to 19 million tonnes in June

The country had imported 12.51 MT of coal in the corresponding month a year ago, according to (revised) data compiled by mjunction services. India’s coal import rose 50% to 18.77 million tonnes (MT) in June this year, when compared to the shipments arrived in the same month of 2020. The country had imported 12.51 MT of coal in the corresponding […]

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GM Soya imports permitted till October to curb protein inflation

Commerce Ministry said the relaxation in import curbs will have a positive impact for farmers, poultry farmers and fishermen NEW DELHI With rising soyabean prices escalating India’s poultry industry’s costs, the government on Tuesday allowed the imports of 1.2 million metric tonnes of crushed and de-oiled genetically modified (GM) soya cake till October 31, 2021. The development assumes significance as […]

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