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Germany's Lufthansa to buy 40% stake in Alitalia's successor ITA: Report

Germany's Lufthansa is set to buy a 40% stake in state-owned Alitalia's successor ITA Airways and a deal could be unveiled next week, Italian daily Il Foglio reported on Saturday.

ITA Airways started flying on Oct. 15 with nearly 2,300 employees and a fleet less than half the size of that operated by Alitalia, the 75-year old former national carrier which passed through a dizzying succession of restructurings and changes of ownership.

Tata Motors expects growth momentum to continue, to ramp up production

Tata Motors expects its growth momentum to continue this year as well as anticipates supply side issues to improve, helping it roll out more units to cater to the enhanced demand, as per a top company official. The Mumbai-based automaker, which sells models like Punch, Nexon and Harrier, saw its total passenger vehicle dispatches to dealerships rise by 44 per cent to 99,002 units in third quarter (October-December 2021) as compared with 68,806 units in the same period of the previous year. Last month, it reported a 50 per cent jump in total passenger vehicle sales to 35,299 units as compared with 23,545 units in December 2020.

HDFC Capital raises nearly $1.8 bn fund for affordable housing financing

HDFC Capital, a wholly-owned subsidiary of HDFC Ltd, has achieved the initial close of its third fund of USD 1.88 billion (about Rs 13,500 cr) focused on affordable housing. In order to achieve this objective, the company is in active discussions with leading global investors to raise additional funds to be invested in affordable housing in India.

TCS aims double-digit growth in Canada as demand for digitisation rises

TCS is aiming for a high double-digit growth in revenues from Canada in the next few years as the North American country's economy grows across sectors and digitisation becomes an essential aspect for businesses, a senior official has said. TCS Canada, a wholly-owned subsidiary of India's largest IT exporter dedicated to serve the market, had a turnover of Rs 6,268 crore in FY21 and has been growing at triple the rate of overall IT services spends in Canada over the past few years, its country head Soumen Roy said.

Blackstone invests over Rs 50 cr to redevelop a mile road stretch in Mumbai

Nucleus Office Parks, the real estate platform owned by global investment major Blackstone's realty funds, has redeveloped a one-mile stretch of a street in Mumbai's central business district of the Lower Parel area at an investment of over Rs 50 crore. The one mile area has safer pedestrian pathways and community spaces for residents, said the PE major that owns and manages assets worth over USF 60 billion in India. Though Blackstone didn't disclose the investment for this public-private partnership initiative with the BMC, a civic body official told PTI that the fund has spent over Rs 50 crore in the redevelopment of the street.

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