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Adani media arm to purchase 29.18% stake in NDTV, launch open offer Adani Group's media arm on August 23 announced that it would purchase a 29.18 percent stake in New Delhi Television Ltd (NDTV), and make an open offer to acquire another 26 percent of the shares in the company.

The acquisition of 29.18 percent stake will be indirect, as it will be made through Vishvapradhan Commercial Pvt Ltd (VCPL), a wholly owned subsidiary of AMG Media Network Ltd (AMNL), which is owned by Adani Enterprises Ltd (AEL).

Canara Bank to raise up to Rs 2,000 cr via Basel-III Tier-II bonds Canara Bank plans to raise Rs 2,000 crore, which includes Rs 1,000 crore through Basel-III Tier-II bonds maturing in 10-years, market participants said.

The bidding for the bonds will take place on August 25 between 11 a.m. and 12 p.m. on the BSE's bidding platform. Most banks were raising funds in the past few weeks either through certificates of deposit, fixed deposits and bonds amid rising credit demand.

Canara Bank exploring stake sale to raise Rs 2,000 cr, says CMD Ajay Singh SpiceJet is currently exploring multiple options, including stake sale to other airlines, to raise up to Rs 2,000 crore, its CMD Ajay Singh said on Tuesday.

The airline is looking to raise “investments from external parties, including airlines”, he said on the sidelines of an event of industry body ASSOCHAM. However, Singh did not reveal how much stake the airline will sell to raise the amount mentioned above.

Maruti Suzuki recalls 166 Dzire Tour S due to defective airbag unit India's largest car maker Maruti Suzuki has recalled 166 Dzire Tour S due to a suspected defect in the airbag control unit, the company said in a BSE filing on August 24. The suspected defect has been found in vehicles manufactured between 6th August 2022 to 16th August 2022. The recall is being undertaken to replace the airbag control unit, free of cost, in these vehicles, the company said.

McLaren to enter Indian market later this year, partners Infinity Cars British sportscar maker McLaren said on Monday it was entering the Indian market, with its first retail outlet set to open in Mumbai later this year. India is largely a low-cost and price-sensitive car market in which luxury models account for just over 1% of total annual sales of about 3 million.

Audi to hike prices by up to 2.4% next month as supply chain costs rise German luxury carmaker Audi on Tuesday said it will increase prices of its entire model range by up to 2.4 per cent next month. The price hike is a result of rising input and supply chain costs and will come into effect from September 20, 2022, the automaker said in a statement.

Adani's ports-to-power conglomerate 'deeply overleveraged': CreditSights Indian billionaire Gautam Adani’s ports-to-power conglomerate is “deeply overleveraged,” with the group investing aggressively across existing as well as new businesses, predominantly funded with debt, CreditSights, a Fitch Group unit, said in a report. The aggressive expansion pursued by the Adani Group, led by Asia’s richest person, has put pressure on its credit metrics and cash flow, CreditSights said in the report Tuesday, adding that “in the worst-case scenario” it may spiral into a debt trap and possibly a default.

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