Allcargo Logistics buys controlling stake in Gati
The all-cash deal will see the company eventually acquiring about 45% in Gati through a direct purchase of the promoters’ stake and a subsequent open offer. It values the company at about Rs 1,000 crore. Allcargo is funding this deal through a mix of internal accruals and debt. Internal accrual is through monetisation of non-core assets including land parcels.
Why government needs to implement GPS in earnest in logistics industry
In other countries, GPS devices have been used for the last two decade...
Govt to launch PMKVY-III in next financial year: Skill development minister
Govt launched the PMKVY scheme in 2015 and revamped it in 2016 to...
Flipkart leads $60 million round in logistics startup Shadowfax
The companies did not disclose the transaction value, but sources briefed on the matter told ET that the investment valued Shadowfax at about $200-$250 million, and is also likely to see other new investors join in.
No menopause policy for women employees in government, private sectors
The minister said before taking any decision on the issue of formulation of menopause policy for women employees in government and private sectors, consultations with stakeholders and experts and careful consideration of all aspects of the matter is required.
Stocks in the news: YES Bank, Reliance Ind, Bharti Airtel, Gati, M&M and Allcargo Logistics
Antique Stock Broking has maintained buy rating on ICICI Bank with a target price of Rs 575.
Auto sector slowdown affecting GST compensation cess kitty: Sushil Modi
Sushil Modi, who heads the Group of Ministers (GoM) on GST revenue shortfall, said that the economic slowdown, particularly the muted sales in the automobile sector, is leading to lower collections in the new indirect tax regime. Speaking at an event, he said that the automobile sector is a major contributor to the GST compensation pool.
Gati jumps 5% as Allcargo Logistics deal likely this week
Gati’s promoters, headed by Mahendra Agarwal, owned 17.78 per cent in the company as of September end.
UAE’s top companies to invest in food, logistics in Punjab
As one of the partner countries for Progressive Punjab Investors Summit (PPIS) 2019, UAE is looking at increasing its stake in the state’s development and growth by strengthening their existing strategic ties.
Business decisions taken by bank officials won’t be questioned: PM
The PM said his government is promoting professionalism especially in civil services.
Modi government taking several steps to incentivise renewable energy sector: R. K. Singh
The government is facilitating developers by allowing Foreign Direct Investment (FDI) of up to 100% through the automatic route. Moreover, Inter State Transmission System (ISTS) charges and losses for inter-state sale of solar and wind power shall also be waived for renewable projects commissioned by December 2022.
RBI keeps repo rate unchanged, real estate sector disappointed
In five successive reductions so far in 2019, the Reserve Bank of India has cut interest rates by a cumulative 135 basis points since February in an attempt to bolster growth and also liquidity in the financial system. With no reduction today, the cumulative decrease in repo rate stands at which banks borrow from it—remains unchanged at 5.15%.
Stocks in the news: CSB Bank, Gati, LVB, HDFC AMC, Sequent Scientific and Sical Logistics
Entities belonging to Capri Group have bought 4.9% in Lakshmi Vilas Bank.
Vodafone Idea will close if govt does not provide any relief: KM Birla
Vodafone Idea Ltd, the India's third largest mobile service provider, will shut down if the government does not provide relief on the liabil...
Analysts cautious on growth from DXC for Mphasis
DXC has been streamlining its business by expanding its offshore presence, making analysts cautious about its dependency on Mphasis, with some pulling back expectations from the channel and others revising their estimates. Business from DXC accounts for up to 28% of revenue. Mphasis has been able to grow revenues from its ‘direct core’ segment.
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