Companies

Swiggy eyes raising Rs 2,170 crore by key backers' secondary share sales

Food delivery startup Swiggy is planning to raise Rs 6,500 crore of which Rs 2,179 crore is expected to be from second sales of the shares of key promoters.

Nov 15, 2018

Paytm lets you buy milk and vegetables using your debit/credit cards

Paytm extortion case: Promoters were pressurising Sonia Dhawan to sell her stake, says lawyer

Sonia Dhawan, Paytm CEO Vijay Sharma's personal assistant and later the Vice-President of Corporate Communications, was arrested last month for extorting money from Sharma.

Nov 15, 2018

Merger of Jet Airways and Tata SIA Airlines on cards as talks pick up pace

It is to be noted that an earlier proposal by Jet Airways for a joint ownership with Tata SIA was rejected as the former wanted an exit for the Goyal family.

Nov 15, 2018

Vodafone Idea posts quarterly loss, to raise $3.5 billion

The results included numbers for Idea Cellular up to August 30 and Vodafone Idea from August 31 to September 30 and were not comparable to earlier periods.

Nov 15, 2018

IDBI Bank loss widens to Rs 3,602 crore in Q2

Total income of the bank was also down at Rs 6,162.14 crore in the reported quarter as against Rs 8,302.42 crore a year ago, IDBI Bank said in a regulatory filing.

Nov 14, 2018

SpiceJet posts 2nd quarterly loss on higher fuel costs, weak rupee

A combination of rising oil prices, high fuel taxes, a weak rupee, low fares and intense competition have slashed profits in the world's fastest-growing aviation market which is clocking 20 per cent annual passenger growth.

Nov 14, 2018

Binny Bansal 'stunned' by allegations, sends email to Flipkart employees

On Tuesday, Walmart had issued a statement saying that Binny had resigned as the CEO after several 'personal misconduct allegations'.

Nov 14, 2018

Infosys to open technology hub in Texas, plans to hire 500 Americans by 2020

Last May, Infosys had announced to hire 10,000 American workers by 2019 and till date, the IT behemoth has employed 6,200 American workers.

Nov 14, 2018

jet airways, jet airways etihad, emirates, emirates 2017 results, etihad emirates merger, gulf carriers hit by us rules, laptops banned to us flights

Jet Airways to sell 6 Boeing 777 aircraft in a bid to fly out of debt turbulence

Speaking of the plan, Jet Airways chief financial officer Amit Agarwal told analysts on Tuesday that six aircraft have been identified for the purpose. The proceeds from the sale will be used to clear debts amounting to about Rs 1,800 crore.

Nov 14, 2018

Big shake up in Zee: Promoters to sell upto 50% stake

Over the years, the rise of Zee has been exceptional by growing from a single Hindi language channel to 37 channels across 5 categories that include news and entertainment.

Nov 14, 2018

smartphone sales in q1, smartphone shipments in q1 2017, india smartphone sales, samsung smartphones, apple smartphones, huawei smartphones, indian smartphone market

Mobile handsets may get dearer amid depreciating rupee

It is to be noted that one of the biggest shareholders of the Indian mobile markets by sales, Xiaomi, has raised the prices of its models Redmi 6 and 6A by up to Rs 600

Nov 13, 2018

Tata Sons begins due process for taking over controlling stake in Jet Airways

A Tata Sons' team met Jet Airways officials to take stoke of the situation even as the debt-ridden airline tries to turn around the finances.

Nov 13, 2018

Usha Martin shareholders approve steel business sale to Tata Steel

Shareholders of wire rope maker Usha Martin have approved the sale of its steel unit to Tata Steel aimed at reducing debt burden and expansion of core business.

Nov 12, 2018

us economy, america, credit card repayment, credit card debt, new credit card debti, wallet hub report on credit card debt

Visa, Mastercard and American Express maybe taxed on India income

Presently, these payments companies are not taxed as per the Indian laws since the legislation says that only the foreign companies having 'permanent establishment' in the country would be liable to pay tax.

Nov 12, 2018