Business, Companies, 30th Oct 2017, News & Stories from India

Thursday, Apr 25, 2024 | Last Update : 04:54 PM IST

Business Companies 30 Oct 2017

Business, Companies, 30 Oct 2017

Reliance Communications on Monday said its lenders will convert part of their debt to equity to gain 51 per cent control of the company. (Photo: PTI)

RCom debt repayment plan: Lenders to have 51 per cent stake in company

RCom said it has made a comprehensive 'debt resolution plan to its domestic and foreign lenders'.

30 Oct 2017 8:43 PM

Bharti Infratel Ltd reported a 17 per cent drop in second-quarter profit, missing analysts’ estimate, as higher expenses weighed.

Bharti Infratel posts 17 per cent drop in Q2 net profit

Profit after tax fell to Rs 6.38 billion ($98.40 million) in the quarter ended September 30, from Rs 7.74 billion in 2016.

30 Oct 2017 8:27 PM

Tata Steel Ltd posted a September-quarter profit, boosted by strong volume growth following the ramp-up of its Kalinganagar plant in India.

Tata Steel posts second-quarter profit driven by volume growth

Total steel deliveries were up 15 per cent to 6.45 million tonnes, with Indian deliveries contributing about 48 per cent of total.

30 Oct 2017 8:14 PM

Reliance Communications Ltd unveiled on Monday a new debt repayment plan, which included a pledge to raise up to Rs 170 billion ($2.62 billion) through the sale of assets such as mobile towers. (Photo: PTI)

Reliance Communications presents new debt repayment plan

RCom, controlled by billionaire Anil Ambani, will retain debt of Rs 60 billion after the completion of the new repayment plan.

30 Oct 2017 7:59 PM

IDFC Ltd on Monday said the proposed merger between IDFC Group and Shriram Group has been called off.

IDFC, Shriram merger hits dead end over share swap disagreement

Private lender IDFC and Piramal group's Shriram had entered into an agreement for a merger plan.

30 Oct 2017 5:28 PM

Vistara on Monday said it has connected Ranchi with New Delhi with a twice daily direct service to the Jharkhand capital. (File Photo)

Vistara connects Ranchi with Delhi with a double daily flight

The Delhi-headquartered Tata-SIA joint venture airline Vistara has expanded its network to 21 destinations.

30 Oct 2017 5:08 PM

Bharti Telecom will acquire 184,710,183 equity shares of Bharti Airtel from another promoter firm of the telecom major.

Bharti Telecom to stake in Bharti Airtel to 50.1 per cent

Shares of Bharti Airtel closed at Rs 492.8, up by 1.59 per cent, on BSE.

30 Oct 2017 4:24 PM

NCRDC has asked the ICICI bank to refund over Rs 2 lakh to a customer who lost the amount through an ATM fraud in 2006-07.

NCRDC asks ICICI to refund Rs 2 lakh fraudulently withdrawn from man's a/c

Haryana resident Karam Singh lost Rs 2,07,368 during November 11, 2006 and February 2, 2007, for which he received no message.

30 Oct 2017 4:17 PM

Cement offtake has continued to remain weak in H1 FY2018 because of factors such as weak real estate activity.

Cement demand likely to pick up from Q4 FY18: ICRA

Cement production reported de-growth of 3.2 per cent to 117.3 million MT when compared to 121.2 million MT during 5M FY2017.

30 Oct 2017 4:00 PM

Offer requires a customer to make a downpayment of Rs 2,849 for the 4G smartphone followed by 36 monthly recharges of Rs 169. (Photo: PTI)

Airtel, Celkon partner for 4G phone at Rs 1,349 effective price

The cash refund of Rs 500 can be availed after 18 months and an additional Rs 1,000 after 36 months.

30 Oct 2017 3:24 PM

HDFC Ltd on Monday reported a jump of 17.3 per cent in its consolidated net profit at Rs 2,869.41 crore for the second quarter ended September. (Photo: Youtube Screengrab)

HDFC records 17.3 per cent leap in Q2 net profit

The company had registered consolidated net profit of Rs 2,446.21 crore in July-September of 2016-17.

30 Oct 2017 2:57 PM

SpiceJet is reportedly looking to acquire 100 amphibious aircrafts to run on the ‘No Runway’ model. (File Photo)

SpiceJet to order 100 amphibious aircrafts as part of 'No Runway' plan

This development comes a day after Union Minister Nitin Gadkari pitched for the use of amphibious aircrafts on Sunday.

30 Oct 2017 2:49 PM

Reliance Industries Ltd chairman Mukesh Ambani said India is the biggest investment opportunity in the world right now.

Ambani bets big on Indian economy, calls it 'biggest investment opportunity'

Ambani also said that with technology, he believes the world will change more in the next 20 years than it did in last 300 years.

30 Oct 2017 1:34 PM

At NSE, shares of the company rose 3.99 per cent to Rs 191.35.

ONGC shares gain over 4 per cent after Q2 earnings

Net profit of Rs 5,131 crore in July-September was 3.1 per cent higher than Rs 4,975 crore.

30 Oct 2017 12:51 PM

HSBC net income of nearly $3 billion, swinging from a loss of $617 million the previous year.

HSBC posts higher 3Q profit as Asian pivot pays off

HSBC is in the midst of carrying out a restructuring with the goal of increasing profitability.

30 Oct 2017 10:58 AM

JLR expects the 7-seater fifth generation Land Rover Discovery to boost the sales given the petrol option and the lower prices starting from Rs 71.38 lakh for the petrol option.

JLR says sales vrooming, sets 4,500 units target this fiscal

Company sold 2,942 units in first nine months of 2017, clipping past a solid 45 pc over same period last year.

30 Oct 2017 9:25 AM

Ease of business remains a concern, says Sunil Mittal

As a solution, he suggested having an inter-ministerial panel or a committee that may look into the industry’s suggestions and implement them.

30 Oct 2017 5:22 AM

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Dilip Cherian