Barbeque Nation files IPO papers with Sebi to raise ?1,000-1,200 cr

New Delhi: Casual dining chain Barbeque Nation Hospitality has filed fresh papers with markets regulator Sebi to raise an estimated ?1,000-1,200 crore through an initial public offering. The IPO comprises a fresh issue of shares worth Rs 275 crore and an offer-for-sale of up to 98,22,947 equity shares, according to the draft papers filed with […]

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Hero Motocorp aims to become ‘future of mobility’, invests ?10,000 crore in R&D

Jaipur: Hero Motocorp will invest ?10,000 crore in research and development (R&D) in the next 5-7 years, Pawan Munjal, Chairman and Managing Director said on Tuesday. Munjal also announced the new vision and mission of Hero Motocorp called ‘ Be the future of mobility’. Speaking at Hero World 2020 at the company’s Centre for Inovation […]

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Indian companies to offer average 9.1% pay hike in 2020, a decade low

New Delhi: India Inc will offer an average pay hike of 9.1% to their employees in 2020, lowest in a decade, as companies tighten their purse strings amid a tough economic environment, the Aon annual salary outlook survey showed on Tuesday. The hike is less than 9.3% paid in the last appraisal season and lowest […]

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GP Petroleums to set up ?100 crore lubes plant in Gujarat

Mumbai: GP Petroleums Ltd (GPPL), an automotive and industrial lubricant player in India, and part of UAE-based GP Global Group, plans to invest ?100 crore in a new state-of-the-art plant in Saronda, Gujarat to process over 300,000-kilolitres of lubricants. This will be GPPL’s second blending plant in the country and will manufacture specialty value-added products, […]

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Second time lucky: Liberty House acquires Adhunik Metaliks in cash deal

Mumbai: Sanjeev Gupta’s business group – the Gupta Family Group (GFG) Alliance, of which Liberty House is a part – has announced acquisition of bankrupt Adhunik Metaliks and Zion Steel in a ?425 crore ($60 million) cash deal. The transaction marks GFG Alliance’s entry into India. In a press release, the group said it would […]

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Why ONGC shares are below ?100 for the first time in 15 years

Shares of Oil and Natural Gas Corp. Ltd (ONGC) have fallen below Rs 100 for the first time in 15 years and are trading at ?98.5 on the NSE. Now here’s a stock, which offers a dividend yield of 7.5% and enjoys an earnings yield of over 20%. Its market capitalisation of ?125740 crore is lower […]

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Godrej Properties to buy railway land in Delhi for ?1,359 crore

New Delhi: Godrej Properties Ltd on Monday said it will acquire 26.58 acres of prime property in the national capital for ?1,359 crores. Terming it one of the largest land transactions in recent past, the Mumbai-based real estate developer said the acquisition value of ?1,359 crore will be paid in instalments over several years as […]

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NCLAT gives approval to JSW Steel to acquire Bhushan Power

New Delhi: The National Company Law Appellate Tribunal on Monday allowed JSW Steel to acquire of Bhushan Power & Steel Ltd for ?19,700 crore by providing it immunity from prosecution. A two-member bench headed by Chairman Justice S J Mukhopadhaya, said that JSW Stwel will be immuned from the acts done by the former promoters […]

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Moody’s cuts India 2020 GDP forecast to 5.4%, recovery seen delayed

New Delhi: Amid growing concerns over the economic fallout of the novel coronavirus (Covid-19) outbreak, Moody’s Investors Service on Monday slashed its 2020 growth projection for India to 5.4% from 6.6% forecast earlier. The agency expects a shallower recovery in Asia’s third-largest economy given that global growth will likely take a hit following the virus […]

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Bharti Airtel pays Rs 10,000cr to govt towards AGR dues

After Supreme Court rap and the government’s stringent deadline, Bharti Airtel on Monday said it has paid Rs 10,000 crore to the telecom department towards statutory dues. The company said it will make payment of the balance amount after self assessment exercise. “The…total amount of Rs 10,000 crore has been paid on behalf of Bharti […]

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