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The transaction closure is subject to completion of Blackstones due diligence, documentation and receipt of requisite regulatory approvals, which is expected in the next 30 - 45 days, the company informed the stock exchanges.

Coffee Day to sell tech park to Blackstone

Global Village is a 4 million-sqft office space located on a 120-acre campus with clients like Mphasis, Accenture and...

15 Aug 2019 1:45 AM IST

Fund managers believe mutual funds, which are considered popular and convenient investment tools, have advocated asset allocation-based strategies to make the journey smoother for investors.

Investors now prefer safety to price

The companies that have gained the most over the last three-month period are having a high Price/ Earning ratio of 50 to...

15 Aug 2019 1:44 AM IST

The NDA/BJP government is looking increasingly cornered on every governance paradigm. However, its weakest link is the gross mismanagement of the Indian economy. (Representational image)

India is a top place for zombie companies

Zombie companies are defined as corporate underachievers overdosed on cheap credit.

15 Aug 2019 1:44 AM IST

The Reserve Bank last month put IDBI Bank under watch by initiating Prompt Corrective Action against it.

IDBI Bank Q1 net loss widens to Rs 3,800 crore

Provisions during the quarter increased 20.93 per cent to Rs 6,332.05 crore as against Rs 5,235.96 crore in the year-ago...

15 Aug 2019 1:43 AM IST

The Sensex crashed over 505 points to slip below the 38,000-level as rupee woes and global trade war worries spooked investors despite the government announcing a slew of measures to stem a steep fall in the domestic currency.

Market consolidation seen continuing

The broader market too saw some gains with the BSE Mid-Cap Index up 0.85 per cent and BSE Small-Cap Index up 0.41 per...

15 Aug 2019 1:42 AM IST

The situation in the domestic steel sector is still nothing to write home about. In fact, the expected revival of demand from the affordable housing and infrastructure sectors notwithstanding, the overall steel demand is likely to remain weak and fundamentals for the steel sector are likely to weaken in FY20.

Steel demand likely to remain weak in FY20

And that can be attributed to the risk of softening of prices, elevated raw material prices, besides the weak demand,...

15 Aug 2019 1:39 AM IST

Global rating agency Fitch on Monday slashed its GDP forecast for India for FY18 saying growth has repeatedly disappointed in recent quarters.

Risks in sector may rise when banks lend more to NBFCs: Fitch

It said that if banks direct more funds to the sector, mostly the strongest NBFCs are likely to be benefited.

15 Aug 2019 1:35 AM IST

Economic slowdown, coupled with decline in air travel, drop in airline catering business and high GST took its toll on EIHs revenue and profitability.

Amid rumours, Nita Ambani attends EIH AGM

The company which comes under The Oberoi Group also has Rs 84.5 crore dues from the grounded Jet Airways.

15 Aug 2019 1:32 AM IST

Provisioning on IL&FS account and claims from agri-insurance has hit the earnings of state owned General Insurance Corporation of India (GIC Re) that reported 86 per cent drop in year on year net profit for the quarter ended June 30, 2019 to Rs 109 crore.

IL&FS provisions hit GIC Re profit

The net profit was Rs 771.42 crore in the same period of last year. GIC Re is the country's largest reinsurer.

15 Aug 2019 1:29 AM IST

Once activated, the in-app SOS button generates a trigger alert to OYOs Safety Response Team with the guest, booking, location and emergency contact details.

Oyo to invest 300 mn euro to strengthen presence in European vacation...

The firm will aim to expand the presence of OYO Home, Belvilla and Dancenter brands across Europe.

14 Aug 2019 8:03 PM IST

Interestingly, the CBDT chiefs move to make officers comply by seeking a compliance report every three months gives room for hope for justice for the taxpayer.

All communication from tax dept to assessees to carry DIN from Oct 1:...

The CBDT has also specified exceptional circumstances where the communication could be issued manually.

14 Aug 2019 7:13 PM IST

Auto sector employs over 35 mn, contributes more than 7 per cent to GDP and accounts for 49 per cent of manufacturing GDP.

Auto gloom: More layoffs coming in temp, sales, R&D sides

The sector has already culled 3.5 lakh jobs since April.

14 Aug 2019 6:29 PM IST