IGI Logo

Singapore Airlines confirms Vistara-Air India merger discussions

Singapore Airlines (SIA) is engaged in confidential talks with Tata Sons for merging Vistara with Air India, the flagship carrier of the Republic of Singapore informed the stock exchange in the Southeast Asian nation on Thursday in a first acknowledgement of a possible integration of the two airlines.

“In line with its multi-hub strategy, SIA is currently in confidential discussions with the Tatas to explore a potential transaction in relation to the securities of Vistara and Air India. The discussions seek to deepen the existing partnership between SIA and Tatas and may include a potential integration of Vistara and Air India,” SIA said in a notification to the Singapore stock exchange

India Inc's fundraising from overseas sinks to 76-qtr low in Q2: Data

Foreign currency loans raised by Indian companies nosedived to $210 million in the September quarter (Q2), 93.3 per cent less than the year-ago period when five firms raised $3.1 billion. The Q2 amount is the lowest since December 2003 quarter when India Inc raised $191 million. Companies cited volatility in the currency markets, sharp rise in interest rates in the United States, and fund availability in India as the main reasons behind the sharp fall.

According to data sourced from Bloomberg, only two companies raised funds in the September quarter, which was marked by the Indian currency losing its value sharply against the US greenback and the Reserve Bank of India (RBI) taking several steps to stem the rupee’s fall. In the quarter ending June this year, seven Indian companies raised $1.69 billion, while in the March 2022 quarter, 13 companies raised $6.9 billion

Mindtree Q2 net profit rises 27.5% to Rs 508 cr; revenue up 31.5%

Mid-cap IT services player Mindtree reported net profit of Rs 508.7 crore for the Q2 of FY23, up 27.5 per cemt year on year and sequential rise of 7.9 per cent. Revenue for the quarter was up 31.5 per cent year on year at Rs 3,400 crore. Revenue were up 8.9 per cent sequentially. The company signed total contract value (TCVs) worth $518 million, taking its first half of FY23 TCV to $1 billion for the first time ever.

MTNL gets nod to raise Rs 17,571 cr via bonds, borrow Rs 35k from banks

State-owned MTNL on Thursday said its shareholders have approved a proposal to raise up to Rs 17,571 crore through government-guaranteed debt bonds on private placement basis. Shareholders of the loss-making public sector telecom firm have also enhanced power of the board to borrow up to Rs 35,000 crore from banks and other financial institutions, according to the result of the scrutinised report of MTNL's annual general meeting held on October 10

Infosys does not support dual employment; have fired violators: Parekh

India's second largest IT services company Infosys on Thursday made it clear that the company does not support moonlighting and said it has fired employees who were into dual employment over the last 12 months. Infosys, however, did not divulge the exact number of people who were "let go" on account of moonlighting.

To Read Complete Report & Disclaimer Click Here

Please refer disclaimer at http://www.aretesecurities.com/
SEBI Regn. No.: INM000012740

Above views are of the author and not of the website kindly read disclaimer