The much awaited divestment of Air India has seen interest from up to six players, said Kapil Kaul, CEO & Director, South Asia, CAPA. We see four Indian players, Jet Airways, IndiGo, SpiceJet and Vistara as interested parties to buy the stake in Air India,said Kaul while addressing a summit on aviation here. He added that two non-aviation companies are also looking to present bids, but that might depend on the funding they receive. These companies are looking for partners for funding, said Kaul. The bidders will be short listed in four weeks. Kaul expects the whole divestment process to g ... Read More

Shakti Pumps reported a good set of Q3 numbers. Akhilesh Maru, CFO of the company discussed the results and his outlook for the company. Main growth has come from the solar government business and solar original equipment manufacturer (OEM) business, where we are doing well, he said. A lot of government projects are picking up and it is going at a very good pace, he added. Major growth has come from the domestic market which is around 60 percent and export is about 2-3 percent. However, on a year-on-year basis, the overall growth of the company will be around 20-25 percent going ahead, said ... Read More

NEW DELHI: Maruti Suzuki, which accounts for one out of every two cars sold in the country, has said that it will be challenging and very difficult to price electric cars affordably and launch them at levels of Rs 5-6 lakh a price-point that is the heart of the Indian car market. The statement by the countrys biggest carmaker comes at a time when the government is pushing for electric vehicle technology very aggressively, and has asked companies to either work towards e-cars by 2030, or be ready to be bulldozed. ... Read More

Equity markets saw major correction in Tuesdays early trade as both Sensex and Nifty were losing more than half a per cent after the initial hour of trading. 30-share BSE Sensex opened with a modest slip of 6 points while the broader Nifty lost 10 points in opening but the indices extended their losses as Sensex was down by 239 points ... Read More

Most members of a parliamentary panel sought the withdrawal of a draft report opposing the disinvestment of Air India at a stormy meeting on Monday, prompting some opposition leaders to walk out in protest. Sources, who were present in the meeting, told PTI that the Parliamentary Standing Committee on Transport, Tourism and Culture on Monday decided to withdraw the contentious draft report. The panels chairman and TMC leader Derek O Brien was not present at the meeting and it was chaired by BJP member Rakesh Singh. It could not be independently confirmed whether the panel, in the absence of ... Read More

IT firm Newgen Software Technologies on Monday raised over Rs 127 crore from anchor investors ahead of its initial share-sale, which opens on Tuesday. The companys IPO committee has finalised allocation of 5,199,444 equity shares to nine anchor investors at Rs 245 apiece, also the upper price band for the offer, Newgen Software informed the stock exchanges. At this price, the total amount works out to be Rs 127.38 crore, it added. Among the anchor investors are Goldman Sachs, SBI Mutual Fund, HDFC Trustee Company, Aditya Birla Sun Life Trustee Pvt Ltd and Forefront Alternative Investment Tr ... Read More