Sajjan Jindal-promoted JSW Energy acquired the 500-megawatt (Mw) power plant of debt-laden Jaiprakash Power Ventures at Bina in Madhya Pradesh for Rs 2,700 crore, 10 months after the two firms got into a binding agreement.
With its Start-up Policy having drawn only lukewarm response so far, the government is planning a twin-pronged approach to spur the initiative.
The Sensex recovered by 147 points in early trade on Monday on sustained buying by foreign funds and retail investors after Reliance Industries reported better-than-expected earnings and exports rose 1.27 per cent in June.Moreover, good progress in monsoon and mixed Asian markets influenced trading sentiments here.
Logistics industry is projected to grow at a compounded annual growth rate of 15-20 per cent between 2015-16 and 2019-20 that will get a further boost if GST is rolled out from this year, which can trim costs by 20 per cent, says a report.
State Bank of India (SBI), the country’s largest lender, has kick-started the process of merging its five associate banks with itself at one go. The merger is expected to be completed by the end of the current financial year.
The government on Tuesday provided Rs. 22,915 crore capital to 13 PSU banks including SBI, PNB and IOB to enhance their lending operations and enable them to raise more money from the market.
At a time when the country is waiting to know who will succeed Raghuram Rajan as the Reserve Bank of India Governor, his predecessor Duvvuri Subbarao’s memoirs, revealing a turbulent relationship with two Finance Ministers of the time.
SoftBank Group Corp has agreed to buy U.K. chip designer ARM Holdings PLC in a 24.3 billion pound ($32.2 billion) deal, the two companies