National carrier Air India has a debt pile of around Rs. 58,000 crore Air India chairman Ashwani Lohani has said that the airline’s management shares the concerns of its employees and is taking necessary steps to protect their interests. In an open letter addressed to the airline’s employees, Mr Lohani...
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November 8, 2019 Anindita Ghosh
Companies
SBI slashed deposit rates by 15 and 75 basis points. The country’s largest lender State Bank of India on Friday reduced its marginal cost of fund based lending rate (MCLR) by 5 basis points across all tenors, effective November 10, and sharply slashed the deposits rates between...
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November 8, 2019 Anindita Ghosh
Business
On the NSE, IndiGo’s shares jumped 1.45% to hit Rs. 1,459.65 apiece at the day’s strongest point. Shares in InterGlobe Aviation – the parent company of the budget airline IndiGo – were swinging between gains and losses on Monday. On the Bombay Stock Exchange (BSE), IndiGo shares opened marginally...
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November 4, 2019 Anindita Ghosh
Companies
London-listed airline giant IAG, owner of British Airways and Iberia, announced on Monday that it has agreed to buy Spain’s Air Europa for 1.0 billion euros ($1.2 billion). COMMENT IAG said in a statement that it has signed a transaction agreement with Air Europa owner Globalia in a...
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November 4, 2019 Anindita Ghosh
Business
Infosys share price today: Infosys shares edged higher after falling more than 4% in early deals Infosys shares rose nearly 2 per cent on Wednesday, a day after a plunge in the stock wiped out nearly Rs. 53,000 crore of investor wealth amid whistleblower complaints that its top two executives...
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October 23, 2019 Anindita Ghosh
Companies
In the wake of a number of resignations in listed companies off late, the Securities and Exchange Board of India (Sebi) on Friday floated stricter disclosure norms for resignation of auditors. In a circular, the regulator said that listed entities should disclose the detailed reasons to stock exchanges...
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October 19, 2019 Anindita Ghosh
Companies
The International Monetary Fund on Friday supported India’s recent decision to reduce corporate income tax, saying it has a positive impact on investment. It, however, said India should address continued fiscal consolidation and secure long-term stability of the fiscal conditions. “We believe India still has limited fiscal space...
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October 19, 2019 Anindita Ghosh
Business
Wipro’s revenue from the IT products segment came in at Rs. 320 crore. Shares of the country’s third largest software services company – Wipro – rose as much as 3.32 per cent to Rs. 251.80 on the BSE a day after the company said its net profit in July-September quarter rose...
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October 16, 2019 Anindita Ghosh
Companies
International Monetary Fund (IMF) Chief Economist Gita Gopinath said on Tuesday that economic growth in India is projected to recover to 7 per cent in 2020 from 6.1 per cent this year. There has been a negative impact on growth due to “financial vulnerabilities in non-bank financial sector” which has...
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October 16, 2019 Anindita Ghosh
Business
Finance Minister Nirmala Sitharaman said on Thursday that lenders have enough liquidity and retail credit growth is likely to pick up in the festival season starting October. “Sum and substance of what I heard was that there is no liquidity crisis,” Nirmala Sitharaman said at a...
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September 27, 2019 Anindita Ghosh
Companies
