NEW DELHI, Air India needs to spruce up through a fresh cash injection, cost cuts and non-core asset sales, analysts said on Wednesday, after the government indicated a sale of the ailing state-owned carrier had likely been shelved.
MUMBAI State Bank of India (SBI) projected a recovery over the next two years after a record 77.18 billion-rupee ($1.13 billion) fourth-quarter net loss following stricter central bank rules around bad loans, sending its shares to a nearly six-week closing high.
MUMBAI/BENGALURU Punjab National Bank (PNB) reported a 134.17 billion-rupee ($1.98 billion) fourth-quarter net loss on Tuesday, the biggest ever by an Indian lender as the state-run bank booked provisions to cover a massive fraud.
BENGALURU/MUMBAI Four Indian state banks reported on Friday a combined net loss of 117.29 billion rupees ($1.74 billion) for the fiscal fourth quarter due to a jump in bad-loan provisions following a tightening of the Reserve Bank of India rules.
MUMBAI ICICI Bank reported its smallest quarterly profit in two years on Monday as stricter RBI rules forced the country's third-biggest lender by assets to account for more bad loans.
BENGALURU Shares of InterGlobe Aviation Ltd plunged nearly 20 percent on Thursday to a seven-month low and wiped out 101.13 billion rupees ($1.52 billion) in market capitalisation after the owner of India's biggest carrier IndiGo reported dismal quarterly earnings.
BENGALURU/MUMBAI Cash-strapped Indian hospital operator Fortis Healthcare Ltd said on Tuesday that two of its five suitors had boosted their bids to invest in the company as of a deadline for binding offers on Tuesday.
MUMBAI India's Axis Bank Ltd reported its first ever quarterly loss on Thursday after a surge in bad loans, capping a troubled year for the country's third-biggest private sector lender by assets.
BENGALURU/MUMBAI India's Bharti Infratel Ltd has agreed to merge with Indus Towers, in a deal that creates the world's No. 2 telecom tower company with an estimated equity value of $14.6 billion (10.47 billion pounds).
BENGALURU Tata Consultancy Services Ltd (TCS) on Monday became the first Indian technology company to hit the $100 billion market capitalisation mark, riding on the back of record quarterly profit and a weaker rupee.