Kumar Mangalam Birla chairman of the Aditya Birla Group ABG), has increased his stake in telecom venture Vodafone Idea (Vi) underlining his confidence in the struggling telco which is looking to raise Rs25,000 crore debt to back up an equity funding of Rs 24,000 crore. On September 6, Birla bought 1.86 crore shares in Vi, … Read more
The fourth quarter results season is coming to a fag-end, and analysts said despite earnings largely meeting expectations, there is a noticeable moderation in the overall earnings landscape. Some notable companies that will announce their earnings this week include Varun Beverages, Zomato, Airtel, Siemens, Power Finance Corp, Mahindra and Mahindra, HAL, and JSW Steel, among … Read more
Mumbai: Shares of state-owned banks, non-banking finance companies (NBFCs) and infrastructure firms plunged as much as 10% on Monday following the Reserve Bank of India’s tougher draft guidelines on the financing and accounting of project loans. The proposed stricter lending criteria, with additional provisioning, are aimed at preventing accounting shocks but could potentially hurt balance … Read more
