Jet Airways: Etihad likely to raise stake to 49 per cent
Jet Airways: Etihad likely to raise stake to 49 per cent
Etihad currently owns 24 per cent of Jet Airways and has the leeway to increase its stake up to 49 per cent. However, the Abu Dhabi-based airline is keen on gaining greater control if it is to infuse more funds in the ailing airline.
Cement sector aims double digit growth
Cement sector aims double digit growth
In the first half of FY19, the industry has seen a growth of 13 per cent. The industry did go through very tough times from 2010-2016, growing at less than 5 per cent. Looking at 2017-18, the growth rate was 9 per cent.
J&K Bank profit to reach Rs. 2,000 crore by 2022
J&K Bank profit to reach Rs. 2,000 crore by 2022
Post transformation, the management is expecting a total business of Rs. 2.45 lakh crore with a targeted profit of Rs. 2,000 crore, net interest margin ranging between 3.5-4 per cent, return on assets of 1.3 per cent, return on equity of 16 per cent and credit cost below 1 per cent at the end of FY 2022.
Bandhan Bank dips further on IL&FS exposure
Bandhan Bank dips further on IL&FS exposure
The bank provisioned Rs. 384.95 crore for its exposure to infrastructure development and finance sector, which was classified as a non-performing asset during the quarter.
Bandhan Bank posts 10 per cent PAT growth
The bank had recorded a net profit of Rs. 300.04 crore in the October-December quarter of last fiscal. Total income of the bank increased to Rs. 1,883.65 crore during the Q3FY19 as against Rs. 1,336.42 crore over the corresponding period of the previous fiscal.
Essar Global repays Rs. 12,000 crore loans
Essar Global repays Rs. 12,000 crore loans
Over the past two years, the Essar Group has repaid over Rs. 1,37,000 crore of debt (including that of Essar Steel), a majority of which is to the Indian banks and constitutes more than 80 per cent of its group debt, said a company statement.
Centre to infuse Rs. 10,086 cr into Bank of India
Centre to infuse Rs. 10,086 cr into Bank of India
The circular resolution would be considered by the board of directors on or after January 2, 2019, the proposal for raising capital by this infusion and further issue of equity shares at an appropriate time and other incidental matters, it said.
Govt to infuse Rs 28,615 cr in 7 PSBs soon
Govt to infuse Rs 28,615 cr in 7 PSBs soon
Bank of India is likely to get the highest amount of Rs 10,086 crore, out of these seven PSBs, followed by Oriental Bank of Commerce, which might get Rs 5,500 crore through recapitalisation bonds, sources added.
United Bank spikes on receiving capital infusion
Central Government, in a letter dated December 26, 2018, has informed of its decision to invest Rs. 2,159 crore in the equity capital of the bank by preferential allotment. The lender is one of the 11 public sector banks that are under the prompt corrective action (PCA) framework of the Reserve Bank of India following deterioration in its financial health.
Syndicate Bank to raise up to Rs. 1,000 crore
Syndicate Bank to raise up to Rs. 1,000 crore
The bank proposes to raise Rs. 400 crore to Rs. 500 crore under the employee share purchase scheme. The shares will be issued at a discount of 20 to 25 per cent of the average market price. Good performers would get a little more discount with the bank’s innovative structuring.