Essar appoints Pankaj Kalra as CFO of energy arm
Kalra has 22 years of work experience.Prior to joining Essar, he was the CFO of Cairn Oil & Gas, and has been associated with Reliance, Aircel, Idea, American Tower and EY.
Essar resolution to have significant impact on financial ecosystem: Satish Gupta, Essar's Resolution Professional
"The resolution of Essar St...
ICICI, SBI top banking bets, says Motilal Oswal
AU Small Finance Bank and Federal Bank are its picks among mid-sized banks.
Bad loan provisioning may swell by Rs 30,000 crore in Q3
DHFL, Reliance Home Finance, KKR-backed CCD and CG power could add to the woes of Indian banks .
Sitharaman allays fear of 'three Cs' among bankers
Sitharaman said the Centre was doing everything to instill a sense of protection among bankers.
Deal street gets deserted in 2019 as debt obligations cast shadow over M&As
This has led to a mostly muted scene on India's corporate deal street this year, after a blockbuster 2018, while economic slowdown fears further came in the way for any significant merger and acquisition deals. But, experts are hopeful that the scenario might change in the new year, provided the economy rebounds from its lows.
Defaults in Asia set to rise with hot spots in China, India
As some economies in Asia slow, companies are left vulnerable to any tightening in liquidity. A rise in defaults would likely further weigh on investor sentiment, and raise the cost of borrowing for the riskiest firms.
IDBI Bank likely to be out of PCA framework in fourth quarter
With money coming from resolution on Essar Steel and expected flow from resolution of Bhushan Power and Steel and Alok Industries, sources said the bank is likely to be posting profit during the third quarter and the subsequent quarter. The bank has already come below net NPA threshold of 6% one of the three parameters for triggering PCA framework.
HDFC Securities sees Nifty at 13,000 by December 2020
Till about six quarters ago, analysts never thought they will have a struggle with consumption, Relli pointed out. “We always thought and felt that consumption is a secular story in India. But, we have witnessed a problem with consumption. We were late to admit, but we now admitting that yes, there are issues with consumption," he said.
Lakshmi Mittal takes stock of Essar Steel plant on first visit to Hazira
Turnaround plan includes an Rs 8,000-cr investment in improving ops, pushing up annual shipments. Nippon Steel president Eiji Hashimoto said the two partners wanted to make the company the best in India. ArcelorMittal executives said the plant being port-based would give an advantage in transporting raw materials and finished products.
View: Rupee may fall towards 71.20-71.50 zone
Appreciation in the rupee last week was led by dollar inflows following ArcelorMittal’s acquisition of Essar Steel.
Indian financial system in Darwinian mode, only fittest lenders survive: Uday Kotak
Kotak said the financial system is in a Darwinian mode as only the fittest lenders are able to survive.
India in a classic Darwinian mode of survival of the fittest: Uday Kotak
We are at a time where clean business and governance is coming to the fore, Kotak said.
Banks get $7.6 billion boost from India bankruptcy recovery
Sped up bankruptcy recovery could see SBI, IDBI, BoI, Canara Bank and Bank of Baroda get their dues.
Rupee slumps 17 paise to 71 against dollar
Forex traders said the rupee ended the day in the negative territory after inflows related to Essar steel got completed.
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