Top 10 business headlines: Ambani vs Chandra, SBI Cards IPO, and more

GMR Team to sell 49% stake in airport organization to France’s Groupe ADP

GMR Team has signed an settlement with Groupe ADP of France to sell a 49 per cent stake in its airport-holding corporation. The group will increase Rs ten, 780 crore from the deal, which will assist it pare debt. The deal values GMR Airports at Rs 22,000 crore. Go through extra

Just about every penny counts as GST officers send out demand notices to organizations

Rs five.9858630140000004! This is not a figure from an S Ramanujan-G H Hardy discussion but a demand observe provided by tax officials to a corporation on spending interest because the goods and products and services tax (GST) return experienced overshot the deadline. Go through extra

SBI Cards IPO opens on March two: Critical points to know about Rs nine,000-cr present

The a lot-awaited original public giving (IPO) of SBI Cards and Payment Solutions, a subsidiary of Condition Financial institution of India (SBI), will open up on March two, confirms its prospectus. The corporation aims to increase all around Rs nine,000 crore ($one.25 billion). The IPO will be a combine of fresh new problem and an present for sale (OFS). SBI Cards options to problem new shares well worth Rs 500 crore and will present up to a hundred thirty.five million shares for sale, the prospectus, dated February eighteen, confirmed. Go through extra

Govt requires a simply call to conserve telecom firms, but no peace most likely on AGR

Following again-to-again parleys this 7 days involving the prime administration of telecom organizations and the government, a consensus seems to have emerged on the require to conserve the monetarily pressured sector. Go through extra

Hinduja Team, Cerberus Money may companion to bid for Indeed Financial institution stake

Hinduja Team Ltd. is partnering with private equity organization Cerberus Money Administration LP in seeking to pick up a stake in embattled Indeed Financial institution Ltd., according to folks common with the make any difference. Go through extra

Tata group marketplace cap soars forty% in 3 yrs beneath Chandrasekaran

Natarajan Chandrasekaran (pictured), chairman Tata Sons, completes 3 yrs in the prime occupation at the holding corporation on February 21. Heading by the marketplace capitalisation (m-cap) of Tata organizations, the tenure has been a blended bag for gentleman who took about the reins of the salt-to-program conglomerate amid a bitter boardroom struggle involving Cyrus Mistry, the ousted chairman, and Tata Sons. Go through extra

Ambani vs Chandra: Media convergence appears to be set for a new match of thrones

This 7 days saw Mukesh Ambani consolidate the media property of Reliance Industries, providing distribution a significant force. With this, the struggle of supremacy involving Ambani and Subhash Chandra, who straddle the media convergence area of broadcasting, distribution, about-the-prime (OTT) channel, content material, and flicks, will only intensify. Go through extra

Tata Motors’ Jaguar Land Rover shelves program to sell bonds to increase cash

Jaguar Land Rover Automotive Plc has shelved options to problem a US greenback bond following traders demanded far too substantial an interest amount to compensate for the risk the coronavirus poses to the luxury carmaker, according to folks common with the make any difference. Go through extra

Coronavirus outbreak: Subdued crude oil price ranges to assist HPCL, other OMCs

Crude oil price ranges are on a slippery slope as worldwide demand is most likely to be impacted by the outbreak of the novel coronavirus in China. Versus this backdrop, the International Electricity Agency has decreased its oil demand forecast. Go through extra

GST profiteering: Delhi HC arrives to the rescue of Nestle, grants continue to be

Coming to the rescue of quick-relocating buyer goods giant Nestlé, the Delhi Significant Court has yet again stayed Nationwide Anti-profiteering Authority’s (NAA’s) purchase to recover Rs seventy three crore by March for not passing the rewards of the goods and products and services tax (GST) amount cut to buyers. Go through extra