Tag Archives: India

Insurer Aviva India Turns To PSU Banks On Recapitalisation Plan Boost

Aviva Plc’s India life insurance joint venture is raising its exposure to the country’s state-run banks as it bets the government’s $32 billion plan to rescue lenders burdened with record bad loans will boost their prospects. The insurer also likes metals stocks and consumption-driven sectors, especially those that target rural consumers, but would avoid the non-bank finance companies, Prashant Sharma, ... Read More »

India passing through fast formalisation of economy, says Arun Jaitley

Finance minister Arun Jaitley on Friday said India is at present passing through a stage that will in future be recognised as a phase of fast formalisation of the economy. Speaking at a State Bank of India (SBI) event here, he said India is seeing “the replacement of a cash dominated economy with a more formal and digitised economy. One ... Read More »

Idea, Vodafone India to sell tower business to ATC Telecom Infrastructure

The Kumar Mangalam Birla led Idea Cellular and Vodafone Plc.’s Indian unit Vodafone India have separately agreed to sell their respective standalone tower businesses in India to ATC Telecom Infrastructure Private Limited (ATC TIPL) for an aggregate enterprise value of ₹7850 crore (US $1.2 billion). Both companies jointly own about 20,000 towers with tenancy ratio of 1.65x as of June 30, 2017, ... Read More »

News LIVE: BJP President Amit Shah urges an end to communism in India

India is expected to retain its position as the top remittances receiving country, with its diaspora set to pump in a whopping USD 65 billion in the year 2017, the World Bank said on Tuesday. Ahead of the annual meeting of the International Monetary Fund and the World Bank, a report issued by the global lender said that remittances, which ... Read More »

Bank of India board mulls merger plan

Dinabandhu Mohapatra, MD and CEO, Bank of India – Photo: Debasish Bhaduri BusinessLineDinabandhu Mohapatra, MD and CEO, Bank of India The bank is in the process of strengthening its systems and processes before exploring merger possibilities, says MD KOLKATA, SEPTEMBER 16:   The board of Bank of India is examining the possibility of merger with other banks, based on the kind ... Read More »

Stocks Radar: ITC, InterGlobe Aviation, Just Dial, MSR India

  Indian equity benchmarks declined, reflecting weak global markets, with investors continuing their risk-off trade as nations grapple with how to deal with escalating provocations from North Korea. The S&P BSE Sensex fell as much as 0.7 percent to 31,586 while the NSE Nifty 50 Index lost 0.7 percent as well to 9,882. Fifteen of the 19 sector gauges compiled ... Read More »

Canadian investment guru Prem Watsa to launch first Invest India Conference

Indo-Canadian investment guru Prem Watsa, considered the Canadian equivalent of legendary American investor Warren Buffett, is launching a new initiative this week to bring a sense of urgency to economic ties between India and Canada. The chairman and CEO of the Toronto-based Fairfax Financial Holdings Ltd is the prime mover behind the inaugural Invest India Conference scheduled for September 8. ... Read More »

Indian mindset for ownership of Air India, in theory all open, says aviation minister

Civil aviation minister Ashok Gajapathi Raju on Thursday said the “Indian mindset” is to keep the ownership of Air India within the country but “theoretically everything is open”, including allowing foreign bidders. His comments assume significance as it indicates that the government might tweak the Foreign Direct Investment (FDI) norms with respect to Air India — the loss- making national ... Read More »

Tech firms driving business travel out of India

Airlines from India have increased frequencies over the past decade to the US to tap growing traffic. Air India flies non stop to Chicago, New York, San Francisco, Washington and will launch flights to Los Angeles at the end of the year. Photo: Mint New Delhi: Indian IT companies may be facing American headwinds, but business travel from India to the ... Read More »

Sell Bank of India, NMDC; buy Apollo Tyres, Indiabulls Housing: Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, “The sell calls are simply because there are many opportunities opening up in the midcaps, not in the large caps. So the Nifty is mildly bullish and the midcaps are now giving us that sense. So the Bank of India is a short sell, I am bearish on public sector undertaking (PSU) banks for ... Read More »