Government of India has extended deadline for Sale of National Carrier Air India by 2 Months.
Last date to submit the bid for Sale of Govt owned Airlines has been extended till March 31, 2021
Aviation sector has been impacted heavily , due to impact of Covid 19 pandemic owing to lockdown of whole country as well as global lockdown.
Govt. is expecting to receive the good valuation of the Indian National carrier and it expected to get the valuation of 2 Lakh Crores or around 3 Billion US dollors.
Government of India has reduced the debt burden of Air India to around 23,200/- Crores from the levels of 56,000/- Crores for getting the valuation with regards to its peer carrier like Indigo, which is largest Airline of India having 40% market share.
Franklin Templeton India has informed that they have shut down 6 of their debt funds , and amount will be paid to investors in phased manner as and when money is received from from the securities maturing on their due dates.
Banks have parked more than 7 Trillion Rupees with the Central Bank i.e., Reserve Bank of India which is highest in recent times , as they are afraid of lending the bulk amount to NBFC fearing repayment delays.
PhonepPe has informed that they are eyeing to become profitable by 2022.
Mid sized Indian it firm Mindtree has declared their q 4 results which are better than the market expectations and their q 4 profit now stands at 206 Cores.
Third largest public sector lender after State Bank of India and Punjab National Bank , Bank of Baroda has announced that they are planning to raise Rs 13, 500 Crores over a period of 1 years through mix of both debt and equity and also planning to sell shares to their staff under employee stock options schemes at a discount.
Tata Steel to raise Rs 5,000 Crores via NCD and that too through private placements hence retail investors will not be getting chance to subscribe the same.
Due to slump in demand India's number one food delivery mobile app Swiggy has informed that they shall be laying off 500 cloud kitchen staff.
