BUSINESS
Tata-Mistry: Amid high valuation, SP Group's exit from Tata Sons may take time
A major contention between the two groups is the difference over the exact value of SP Group's stake in the holding company of the industrial conglomerate. Besides the simmering differences over the stake value, even the intention of a transaction to buy out the minority holding is still not clear.
Sterling & Wilson's US arm bags Rs 890cr contract
In a regulatory filing, Sterling and Wilson Solar said that the order has been received from a leading sustainable energy company and is scheduled to be commissioned by Q4 FY 2022. SWSS will be managing the entire turn-key execution for the PV project. The US market is one of the largest renewable markets globally and it has been the Company's focus to become a significant player in this very important market.
SBI raises additional $1B untied loan with JBIC
According to the lender, the loan is intended to promote 'smooth flow of funds' for the whole range of business operations of Japanese automobile manufacturers in India. SBI has signed a similar deal with JBIC in October 2020.
SpiceJet, Avenue Capital Group enter into MoU for aircraft acquisition
Accordingly, the Avenue Capital Group are specialists in the field of aircraft leasing and have identified the new planes to be ordered by SpiceJet as a unique opportunity for investment. The MoU is in respect of the financing, acquisition and sale and lease-back of 50 new planes to be ordered by the airline.
India tops in real-time digital transactions in 2020: Report
In 2020, the transaction volume share in India stood at 15.6 per cent and 22.9 per cent for instant payments and other electronic payments respectively, while paper-based payments had a considerable share of 61.4 per cent, it showed.
Tata stocks up as pledge released
Tata Sons have released the pledge on March 25 and March 26 in Tata Consultancy Services (TCS), Tata Steel, Tata Power, Tata Motors and Tata Consumer Products. These Tata Group companies informed the exchange that Tata Sons has released some pledged shares last week.
India's healthcare industry to reach $372 bn by 2022: NITI Aayog
Healthcare has become one of the largest sectors of the Indian economy, in terms of both revenue and employment, said the report released by NITI Aayog's Member, Health, V.K. Paul, CEO Amitabh Kant, and Additional Secretary Rakesh Sarwal.
India's 2021 economic output may remain below 2019: UN Report
Titled 'Economic And Social Survey of Asia And the Pacific 2021', the report noted that India entered the pandemic with subdued GDP growth and investment. Following one of the most stringent lockdowns in the world, the economic disruptions that the country experienced mounted in the second quarter of 2020.
Cabinet likely to consider IDBI Bank privatisation next week
The LIC-owned IDBI Bank would be the first-ever public sector bank to be put on the block. People in the know said that the Centre is likely to offer its stake in the bank, along with that of the state-run insurance major. At present, the Centre holds 45.48 per cent and the Life Insurance Corporation (LIC) a 49.24 per cent stake in the bank.
India's passenger vehicle industry to post 22-25% growth in FY22: ICRA
The growth is expected to be achieved after a 2-4 per cent de-growth in FY21. As per ICRA research, the growth will be achieved on a lower base of Q1FY21, primarily due to industry slowdown and the pandemic impact. Besides, expected pick-up in economic activity improved consumer sentiments, resilient rural income sentiments, healthy crop cycles and several government initiatives will propel growth, ICRA said.
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