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Dalmia told to raise bid

Lenders to Binani Cement have asked the Dalmia Bharat-led consortium to match and improve UltraTech's offer by Wednesday noon.
Sambit Saha May 22, 2018 00:00 IST

Pressure mounts for fuel relief

The government seems to be running out of options to deal with the spike in crude prices and its impact on the economy. A marginal cut in excise duty would be seen as tokenism, while bringing it under the GST would provide relief to consumers. But, this option would face stiff resistance from states as they would have to forgo substantial revenues.
Our Special Correspondent May 22, 2018 00:00 IST

Bhushan lifts IBC hopes

Days after winning Bhushan Steel, Tata Steel managing director T.V. Narendran on Monday met acting finance minister Piyush Goyal to discuss bankruptcy rules as North Block touted the Bhushan deal as a success story for Insolvency and Bankruptcy Code, 2016, and the changes it brought about to give the rules more teeth.
Jayanta Roy Chowdhury May 22, 2018 00:00 IST

TCS chief pay atRs 12.5cr

Rajesh Gopinathan, the CEO of Tata Consultancy Services (TCS), saw his remuneration rise to Rs 12.49 crore in 2017-18.
Our Special Correspondent May 22, 2018 00:00 IST

LVMH gains foothold in Future Lifestyle

A private equity firm, backed by French luxury goods conglomerate LVMH, is picking up 10 per cent in Kishore Biyani-led Future Lifestyle Fashions (FLFL) for an undisclosed sum.
Our Special Correspondent May 22, 2018 00:00 IST

Honda bets big on CR-V

Honda Cars India Ltd is eyeing triple-digit growth for its new CR-V to be launched in the second half of 2018-19.
Our Special Correspondent May 22, 2018 00:00 IST

PNB dumped to junk grade

Moody's Investors Service has downgraded Punjab National Bank's rating to junk grade, citing the impact of the recent $2-billion fraud on its capital as well as weak internal controls.
Our Special Correspondent May 22, 2018 00:00 IST

Turmoil spreads at Fortis

Two more directors of Fortis Healthcare have quit — a day ahead of a crucial meeting of shareholders called to vote on the removal of four directors of the cash-strapped healthcare chain.
May 22, 2018 00:26 IST

Coal first to power

Indian Railways will prioritise the loading of coal for supply to thermal power plants till June-end in a bid to address the fast depleting stock at the generating units.
A Staff Reporter May 22, 2018 00:00 IST

PNB fraud: ED attaches more assets of Nirav Modi

The Enforcement Directorate took fresh action against Nirav Modi and attached assets worth Rs 170 crore of the absconding diamantaire in connection with its money laundering probe in the PNB fraud case amounting to over $2 billion, officials said on Monday. 
May 21, 2018 16:37 IST

UltraTech buys unit of Century

After years of being in the works, Kumar Mangalam Birla's UltraTech Cement is finally acquiring the cement business of Basant Kumar Birla-led Century Textiles and Industries Ltd in a share-swap deal for an enterprise value of Rs 8,621 crore.
OUR SPECIAL CORRESPONDENT May 21, 2018 00:00 IST

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