Business, Companies, 27th Mar 2019, News & Stories from India

Wednesday, Apr 24, 2024 | Last Update : 09:35 PM IST

Business Companies 27 Mar 2019

Business, Companies, 27 Mar 2019

The ratings of the two companies were put under review on December 13, 2018, following the announcement that PFC will acquire the government's stake in REC.

Moody's retains stable outlook for Power Finance Corp, Rural Electrification Corp

The ratings agency Moody's has confirmed the Baa3 issuer ratings of PFC and REC.

27 Mar 2019 7:48 PM

Earlier in January, the government had infused capital in OBC, following which RBI removed the lender from its prompt corrective action (PCA) framework. (Photo: File | PTI)

Oriental Bank allots 13.89 cr shares to govt following capital infusion

The move follows capital infusion of Rs 1,186 crore by the government into the bank.

27 Mar 2019 5:13 PM

"NTPC Ltd has launched and priced an issue of 3.75 per cent USD 450,000,000 notes due 2024 on March 26, 2019," NTPC said in a statement.

NTPC launches MTN issue to raise USD 450 million

The issue would close on April 3. The funds raised through this issue will be used for capital expenditure by NTPC.

27 Mar 2019 4:16 PM

Vijay Mallya is at present based in London and extradition proceedings are on to bring him to India as the ED and the CBI are probing parallel criminal cases against him for an alleged bank loan default of Rs 9,000 crore.

Sale of Vijay Mallya's UBHL shares fetch Rs 1,008 cr: ED

Shares of UBL were held by UBHL and were kept with the bank as security in lieu Kingfisher Airlines loan, the ED said.

27 Mar 2019 3:53 PM

Ratan Tata expressed his "personal thanks to Soonawala for his colleagueship over the years and wished him good health in the years ahead", the company statement said.

Soonawala steps down from Tata Trusts on health grounds

Soonawala served at various positions in the Tata group including as vice-chairman of Tata Sons and was a close confidante of Ratan Tata.

27 Mar 2019 3:33 PM

Boeing has flown test flights of its 737 MAX to evaluate a fix for the system targeted as a potential cause of the crashes. (Photo: AP)

Boeing holds test flights for 737 MAX fix: sources

FAA engineers and flight test pilots were involved in the MCAS operational evaluation flight test.

27 Mar 2019 2:24 PM

Flipkart said that with over 400 million internet users, tech adoption in the country is at an inflection point, and millions of people from tier-II and III cities and villages are expected to join the digital stream in the next few years.

Flipkart launches fund to support early-stage start ups: CFO Emily McNeal

The objective of the Flipkart's fund is to build the ecosystem with world-class founders and ideas.

27 Mar 2019 12:29 PM

The airline has had to ground more than two-thirds of its fleet as it struggles to pay lenders. (Photo: AFP/File)

Jet Airways shares rise after govt official rules out grounding more planes

Jet Airways Ltd’s shares rose about 6 per cent on Wednesday to a near 10-week high.

27 Mar 2019 11:44 AM

APSEZ, a part of globally-diversified Adani Group, is the largest port developer and operator in India.

Adani becomes 1st Indian port operator to record 200 MT cargo movement

Going forward, APSEZ aims to double its cargo handling to 400 MT by 2025.

27 Mar 2019 11:07 AM

GMR Infrastructure will hold a 54 per cent stake and keep management control, while Tatas will hold about 20 per cent, GIC 15 per cent and SSG nearly 10 per cent.

Tata group, GIC, SSG to invest USD 1.16 billion in GMR Airports

The deal will also provide exit to existing private equity investors that hold a 5.8 per cent stake in the airports unit.

27 Mar 2019 10:47 AM

In its complaint, the RBI has alleged non-compliance of its 2016 order directing commercial banks, including the PNB.

Top 11 PNB officials summoned for violation of banking regulation

The RBI has further alleged that the accused willfully and deliberately made false statements in the compliance report.

27 Mar 2019 10:01 AM

Ghosn is facing charges related to under-reporting his Nissan salary by around USD 82 million over nearly a decade. (Photo: AP)

Nissan panel to propose bigger role for external directors in Ghosn scandal's wake

The independent panel will announce the results of its three-month audit of Nissan’s governance-related procedures.

27 Mar 2019 9:27 AM

MCA had said that the impleadment of the additional respondents, including Usha Ananthasubramanian, was essential because they all are necessary and proper parties.

Nirav Modi case: Ex-PNB chief Usha Ananthasubramanian approaches NCLAT

The appellate tribunal had directed to list the matter on April 29 for next hearing.

27 Mar 2019 9:14 AM

HCC to sell litigation claims for Rs 1,750 cr

HCC will set up a special purpose vehicle to carry out the transaction.

27 Mar 2019 1:41 AM

On its part, L&T has offered to buy 51.3 million Mindtree shares from public shareholders at a price of Rs 980 a share.

Mindtree spikes buyback plan

Mindtree said it has decided to constitute a Committee of Independent Directors to evaluate the L&T offer.

27 Mar 2019 1:41 AM

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Sanjeev Ahluwalia