Promit Mukherjee

Reliance Industries sees telecom, retail driving growth

18 Apr 2019

India's Reliance Industries, operator of the world's biggest refining complex, posted a record net profit on Thursday as strong growth in retail and telecom businesses offset the impact of 17-quarter low refining margins.

RPT-UPDATE 4-India's Jet Airways finds itself out of runway as funds dry up

18 Apr 2019

* Jet to continue working with banks; confident it will fly again

India's Jet Airways finds itself out of runway as funds dry up

17 Apr 2019

MUMBAI/NEW DELHI Embattled Jet Airways halted all flight operations indefinitely on Wednesday after its lenders rejected its plea for emergency funds, potentially bringing the curtains down on what was once India's largest private airline.

India Inc is seeking dollar borrowings, but only select firms will find

11 Apr 2019

MUMBAI Indian companies are lining up to seek dollar-denominated debt as global interest rates soften, but only a few are likely to find it as foreign investors remain wary about the credit quality of many, bankers say.

India’s IL&FS unit has 90 percent non-performing assets - company

03 Apr 2019

MUMBAI, April 3 The flagship lending unit of India's Infrastructure Leasing & Financial Services Ltd (IL&FS) has seen 90 percent of its loans go sour, a company executive said on Wednesday, as the current management tries to recover dues from external agencies to pay its debt.

Thyssenkrupp workers want guarantees should Tata Steel deal dissolve

03 Apr 2019

DUISBURG, Germany/MUMBAI Steel workers at Thyssenkrupp expect substantial guarantees for jobs and plants even if a planned joint venture with India's Tata Steel falls apart, the head of Thyssenkrupp Steel Europe's works council said on Wednesday.

Supreme Court quashes RBI directive on resolving bad debt

02 Apr 2019

MUMBAI India's Supreme Court on Tuesday quashed a Reserve Bank of India circular on resolving bad debt, providing relief for some major corporate defaulters but throwing the country's still nascent bankruptcy regime into question.

GMR Infra sells $1.16 billion stake in airports arm to Tata, GIC, SSG

27 Mar 2019

GMR Infrastructure said https://bit.ly/2UbRphT a consortium of Tata Group, an affiliate of Singapore's sovereign wealth fund GIC, and SSG Capital Management will invest 80 billion rupees ($1.16 billion) in GMR Airports Ltd, which operates India's biggest airport in New Delhi.

India's bankruptcy court clears ArcelorMittal's takeover of Essar Steel

08 Mar 2019

India's bankruptcy court on Friday approved global steel giant ArcelorMittal SA's bid for debt-ridden Essar Steel, potentially ending months of court battles and opening the country's steel industry to outsiders.

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