BUSINESS
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.
Bucking the pandemic: India on way to become world's pharma hub
The government's focus on supporting the growth of the domestic pharma sector amid the pandemic couldn't have been timed better, say sector stakeholders. Last month, the government had approved a production-linked incentive (PLI) scheme for the pharmaceutical sector, entailing an outlay of Rs 15,000 crore.
Disappointed as a minority shareholder: Cyrus Mistry on SC judgement
"As a minority shareholder of Tata Sons, I am personally disappointed by the outcome of the judgement with respect to our case," Mistry said in a statement. "Although I will no longer be able to influence the direction of governance of the Tata group directly, I hope that the issues I have raised will cause deeper reflection and influence the individuals concerned to catalyse change. I sleep with a clear conscience," he added.
Petrol prices down 19-22 paise across metros
Prices of the transportation fuel declined in the range of 22-19 paise across the four metros. In the national capital, petrol was sold for Rs 90.56 per litre, 22 paise lower than the previous level of Rs 90.78. In the other key cities of Mumbai, Chennai and Kolkata, the fuel was priced at Rs 96.98, Rs 92.58 and Rs 90.77 per litre, respectively, against the previous levels of 97.19, Rs 92.77 and Rs 90.98.
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