Canada-based OMERS Infrastructure has picked a 22.4% stake in IndInfravit trust for a consideration of Rs 870 crore, the fund said in a media statement. OMERS’ investment in the infrastructure investment trust (InVIT) marks the fund’s first infrastructure investment in India. IndInfravit holds a portfolio of five operational toll road projects – namely- Krishnagiri Thopur […]
Day: February 23, 2019
UP hits top gear to acquire land for Rs 14,700-cr Bundelkhand Expressway
The Uttar Pradesh government has accelerated land acquisition process for the flagship Bundelkhand Expressway, which is estimated to cost Rs 14,716 crore. So far, the state has acquired 1,011 hectares, or 27 per cent of the required 3,642 hectares across 182 villages for the Expressway, which would link arid Bundelkhand region with the Agra-Lucknow Expressway […]
Trouble for Chanda Kochhar; CBI issues look out notice against former ICICI Bank chief
In fresh trouble for former ICICI Bank MD & CEO Chanda Kochhar, Central Bureau of Investigation (CBI) has issued a look out circular against her, news agency ANI reported. It comes days after the investigative agency registered a case against her in the ICICI Bank-Videocon loan case. The high-profile case led to the unceremonial exit […]
Big news for flyers! Daily Vistara flights soon to Japan as airline inks pact with Japan Airlines
Vistara customers may find a reason to rejoice as the airline will soon expand its services in Japan by codesharing, a Vistara statement said on Friday. Opening more routes between India and Tokyo, the agreement is effective this February, the statement added. “The codeshare flights will offer convenient connections to and from a daily flight […]
Share market update: OMCs trade in the green; IOC, HPCL among top gainers
NEW DELHI: Most OMCs were in the green in Friday’s afternoon session with its sectoral index on BSE trading higher. Shares of Indian Oil Corporation (up 4.69 per cent), Hindustan Petroleum Corporation (up 4.09 per cent), Castrol India (up 2.97 per cent) and Bharat Petroleum Corporation (up 2.93 per cent) were the top gainers in […]
Jet Airways shareholders approve conversion of loan into shares
New Delhi: Shareholders of Jet AirwaysNSE 0.68 % have approved conversion of loan into shares and other proposals as the crisis-hit carrier seeks to fly out of financial turbulence. During the extraordinary general meeting (EGM) on Thursday, the shareholders also approved alterations to the company’s Articles of Association and Memorandum of Association. According to a […]
Banks’ consortium considering Rs 500 cr interim funding to Jet Airways, says PNB chief
A consortium of banks is considering an interim funding of Rs 500 crore for debt-laden Jet AirwaysNSE 0.68 % but a final decision is yet to be taken, Punjab National BankNSE 0.07 % Managing Director Sunil Mehta said on Friday. PNB is part of the lenders’ consortium, led by State Bank of India (SBI), that […]
Adani steps up presence at Aero India, on lookout for more defence acquisitions
BENGALURU: The Adani group has stepped up its presence at Aero India – it has the biggest display area at the show – after its acquisition of Bengaluru based Alpha Design, with senior executives saying that the plan is to buy into more aerospace and defence companies in India. Adani Defence, which kicked off its […]
Jet Airways crisis: Lessors doubt rescue plan, pull out more planes
International lessors have grounded more Jet Airways planes prior to potentially moving them out of India, as scepticism builds whether a state-led bailout of the carrier can clear their dues on time, sources familiar with the matter said. The troubles at Jet, which is saddled with a billion dollars in debt, have rekindled memories of […]
HAL delivers first three Dhruv helicopters to Indian Army
BENGALURU: The HAL Friday delivered the first three Advanced Light Helicopters named Dhruv as part of the 22 ALH MK-III contract to the Indian Army during the ongoing Aero India air show. HAL had entered into a contract with the Indian Army for 40 ALH (22 ALH Mk III and 18 Mk IV Rudra) in […]
Adani Power, Adaro, NLC in race to buy some IL&FS assets
MUMBAI: Indonesian coal miner Adaro, Adani PowerNSE 0.76 % and state-run NLC India are among a dozen companies that have expressed interest in buying IL&FS Tamil Nadu Power and related assets of the debt-laden IL&FS group, two people familiar with the matter said. Along with the thermal plant in Cuddalore, the group is looking to […]
NTPC pays Rs2,952 crore interim dividend
NTPC: NTPC Ltd, the country’s largest electricity generator, Friday said it has paid an interim dividend of ₹2,951.88 crore for the financial year ending March 31, 2019. The dividend is 35.8 per cent of the paid-up equity share capital of the company, NTPC said in a statement. The Government of India, which owns 58.93 per […]