The investment will be used for expansion and investments in latest technology, the management said. Currently, DAHCL has 76 hospitals in 10 states and African nations. It is planning to add another 75 eye hospitals in three phases. In the next 15 months, it will add 25 hospitals, followed by another 25 each in three years and five years, respectively.
Going forward, IndiGo has decided to curtail its schedule for the remaining period of February by approximately 30 flights a day. As a proactive measure, IndiGo has decided to continue its curtailment until the end of March, the airline said in a statement.
The letter was sent late on Tuesday, JSW Steel has to review the approved resolution plan sent along with the letter before accepting the offer. With this development, JSW Steel is closer to acquiring Bhushan Power, provided there is no arbitrary insertion of clauses by the IRP or the stressed company’s Committee of Creditors (CoC).
The global average growth in domestic traffic was 7 per cent, the same was recorded in 2017. India’s growth of 18.6 per cent was followed by China (11.7 per cent), Russia (9 per cent) and the US (5.1 per cent), said a report by the global aviation body IATA.
An increase of 34 per cent in crude oil prices and 11 per cent depreciation of the rupee against the dollar led to a rise in cost by Rs. 329 crore but the airline said it was able to offset some of this by an 8 per cent increase in yield or revenue per passenger per mile.
For FY21, however, their view is unequivocally for a temporary drop in volume forced by an 8-10 per cent increase in prices across market segments due to the BSVI roll out. The catalyst could be tax cuts and/or a practical scrappage policy by the Government.
Cipla’s Tadalafil Tablets 20mg is AB-rated generic therapeutic equivalent version of Eli Lilly’s Adcirca. It is a phosphodiesterase 5 (PDE5) inhibitor indicated for the treatment of pulmonary arterial hypertension (PAH) to improve exercise ability.
A sum of Rs. 27,330 crore i.e. Rs. 13,140 crore in FY17 and Rs. 14,190 crore in FY18 was kept aside by the RBI for the contingency fund.
The rating agency, which in November placed Airtel’s rating under review for downgrade, has downgraded the company’s rating from Baa3 to Ba1, which is a non-investment grade rating. It added that the ratings outlook was negative.
FMCG industry is expected to grow between 11 and 12 per cent in 2019, stated a study by market research firm Nielsen. This growth rate is a little lower than the 13.8 per cent growth attained in 2018.
These orders involve manufacture and supply of four moderator Heat Exchangers and 18 D20 Heat Exchangers for the 2x700 MWe Pressurised Heavy Water Reactors (PHWRs) to be installed at Gorakhpur Haryana Anu Vidyut Pariyojna (GHAVP) in Fatehabad district of Haryana.
After being rejected by NCLT, the promoters moved to the National Company Law Appellate Tribunal (NCLAT). On Wednesday, even NCLAT declined the plea of an operational creditor of debt-ridden Essar Steel seeking recovery worth Rs. 800 crore.
The company reported robust growth in its December quarter net profits to Rs. 146 crore, compared to Rs. 47 crore in the year earlier period due to better realisations from both merchant and PPA customers.
The net interest income was up 40 per cent at Rs 655.10 crore during December quarter 2018 as against Rs 467.30 crore in the year-ago period. The net interest margin improved YoY to 4.12 per cent in the reported quarter from 3.89 per cent.
The board of directors of Vodafone Idea on Wednesday approved Rs. 25,000 crore fund-raising plan by way of the rights issue to existing eligible equity shareholders, the company said in a press release.
GDP growth is expected to accelerate to 7.2 per cent in 2018-19 and further to 7.3 per cent in 2019-20, according to top rating agency Crisil. The report predicts retail inflation to rise substantially to 4.5 per cent in 2019-20.
The company's net profit fell 75 per cent on year-on-year basis, as it had reported a net profit of Rs. 762 crore in the same period last year. The drop in the profit was due to 31 per cent increase in fuel cost and depreciation of the Indian rupee during this quarter when compared to the same period last year.
The EBITDAR for the quarter fell by 16% yoy to Rs. 1681.4 crore as against Rs. 2001.9 crore in the corresponding quarter last year, with a corresponding margin contraction of 1120 bps. EBITDAR margin for the quarter stood at 21.2%
The net profit of the firm was negatively impacted on two main counts; foreign exchange losses and lower operating margins as several of the company's deals are currently in transition.
Jet Airways' has delayed the payment of interest and principal instalment to the banks, following which SBI along with other banks and stakeholders has been working on a comprehensive resolution plan towards a turnaround of the company for sustained growth and restoration of financial health.
Etihad currently owns 24 per cent of Jet Airways and has the leeway to increase its stake up to 49 per cent. However, the Abu Dhabi-based airline is keen on gaining greater control if it is to infuse more funds in the ailing airline.
In the first half of FY19, the industry has seen a growth of 13 per cent. The industry did go through very tough times from 2010-2016, growing at less than 5 per cent. Looking at 2017-18, the growth rate was 9 per cent.
Post transformation, the management is expecting a total business of Rs. 2.45 lakh crore with a targeted profit of Rs. 2,000 crore, net interest margin ranging between 3.5-4 per cent, return on assets of 1.3 per cent, return on equity of 16 per cent and credit cost below 1 per cent at the end of FY 2022.
The bank provisioned Rs. 384.95 crore for its exposure to infrastructure development and finance sector, which was classified as a non-performing asset during the quarter.
The bank had recorded a net profit of Rs. 300.04 crore in the October-December quarter of last fiscal. Total income of the bank increased to Rs. 1,883.65 crore during the Q3FY19 as against Rs. 1,336.42 crore over the corresponding period of the previous fiscal.
Over the past two years, the Essar Group has repaid over Rs. 1,37,000 crore of debt (including that of Essar Steel), a majority of which is to the Indian banks and constitutes more than 80 per cent of its group debt, said a company statement.
The circular resolution would be considered by the board of directors on or after January 2, 2019, the proposal for raising capital by this infusion and further issue of equity shares at an appropriate time and other incidental matters, it said.
Bank of India is likely to get the highest amount of Rs 10,086 crore, out of these seven PSBs, followed by Oriental Bank of Commerce, which might get Rs 5,500 crore through recapitalisation bonds, sources added.
Central Government, in a letter dated December 26, 2018, has informed of its decision to invest Rs. 2,159 crore in the equity capital of the bank by preferential allotment. The lender is one of the 11 public sector banks that are under the prompt corrective action (PCA) framework of the Reserve Bank of India following deterioration in its financial health.
The bank proposes to raise Rs. 400 crore to Rs. 500 crore under the employee share purchase scheme. The shares will be issued at a discount of 20 to 25 per cent of the average market price. Good performers would get a little more discount with the bank’s innovative structuring.
Also, the company plans to invest in the expansion of its R&D facility in Bengaluru. The design studio and research facility with a focus on Internet of Things (IoT) applications hiring at least 100 engineers and researchers.
The rupee and bonds plunged as Reserve Bank of India Governor, Urjit Patel resigned post market hours on Monday, surprising many investors. Concerns about mixed results from crucial state elections also kept traders wary during Tuesday's trading session.
The purchase will be made through open market operations (OMOs) based on an assessment of the durable liquidity needs, going forward. RBI has decided to conduct the purchase of Government securities under Open Market Operations (OMOs) for an aggregate amount of Rs. 10,000 crore on December 6, 2018.
According to a company statement, in the domestic market, tractor sales stood at 25,159 units compared with 21,271 units in November 2017, up 18 per cent. Exports, however, declined by 54 per cent to 790 units from 1,723 units. Retail demand remained positive through the festive season, said the statement.