Friday, April 20, 2018
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Business
Fresh look at original Essar bids
The National Company Law Tribunal has allowed the initial resolution applicants for bankrupt Essar Steel to rectify their bids and asked the committee of creditors (CoC) to decide on their eligibility.
Apr 20, 2018 00:00 IST
TCS takes Street by surprise
Tata Consultancy Services (TCS) on Thursday topped Street estimates by reporting a 4.50 per cent rise in net profit at Rs 6,904 crore, helped by strong demand for digital services and large contract wins. The country's largest IT services firm also cheered both its shareholders and employees by announcing a 1:1 bonus and a 120 per cent variable pay, respectively.
Apr 20, 2018 00:00 IST
UltraTech dares tribunal
UltraTech on Thursday dared the company law tribunal to pass the resolution plan backed by Dalmia Bharat that could potentially cause a loss of Rs 1,020 crore to the creditors of bankrupt Binani Cement and proposed an open courtroom auction with its rival bidder to decide who would get the distressed asset.
Apr 20, 2018 00:00 IST
Panel to vet Fortis offers
The board of Fortis Healthcare, which has seen interest from four suitors, on Thursday decided to accept only binding offers even as it formed an expert committee to evaluate the proposals and make a final recommendation by April 26.
Apr 20, 2018 00:00 IST
Mixed show by IndusInd
Mid-sized private sector lender IndusInd Bank on Thursday reported a 27 per cent rise in March quarter net profit at Rs 953.09 crore despite a surge in non-performing assets as the bank for the first time disclosed a Rs 1,350-crore divergence in its bad loan reporting for 2016-17.
Apr 20, 2018 00:00 IST
Hawkish tilt to MPC stance
The Reserve Bank of India (RBI) could take a more hawkish tone starting as early as June despite easing inflation, minutes of the monetary policy committee's (MPC) meeting that took place this month showed.
Apr 20, 2018 00:00 IST
Push for NPA review
The finance ministry wants the Reserve Bank of India to relax its rule that pushed any stressed asset towards resolution even if the monthly payment for the loan became overdue by just a day.
Apr 20, 2018 00:00 IST
Air India sale turf wide open
The central government on Thursday said that bidders for ailing state- run Air India need not only be airlines.
Apr 20, 2018 00:00 IST
RBI firm on loan default rules
Reserve Bank deputy governor N.S. Vishwanathan on Wednesday stoutly defended the stringent rules on stressed assets - an indication the central bank may not relax the one-day delay norm as sought by North Block and the banking industry.
Apr 19, 2018 00:00 IST
Magma gets fresh dose of funding
Magma Fincorp has raised Rs 500 crore from institutional investors to support the growth of the company.
Apr 19, 2018 00:00 IST
Warning on false tax refund claims
The income tax department on Wednesday cautioned salaried taxpayers against claiming false refunds by inflating deductions.
Apr 19, 2018 00:00 IST
Opinion
- Where life flows quietly
- A question of relevance
SWAPAN DASGUPTA - Public safety is a distant dream
ANTHONY KHATCHATURIAN - Shifting back, slowly
Prabhat Patnaik - For the sake of a better harvest
PRABHAKAR KULKARNI
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