As exporters grapple with a global container shortage and exorbitant freight costs, the government is exploring a proposal to extend tax and other incentives to draw large players to set up shipping lines in India, official sources told FE. The incentives may be announced as early as in the upcoming Budget ...
Future Retail said in a late-evening update on Saturday that it has missed its December 31, 2021 deadline to repay its lenders Rs 3,494.56 crore under a one-time restructuring (OTR) plan. The stressed retailer was unable to complete the planned sale of its specified business as laid out under the OTR ...
As Covid infections rose nearly 12-fold in just seven days, the West Bengal government brought back stricter curbs on Sunday shutting all educational institutions from Monday and restricting flights from the country's capital Delhi and financial capital Mumbai besides asking all offices to operate with a half their workforce.
Post volatile CY20 and CY21, we expect CY22 to be predictable and steady with low COVID-19 cases coupled with high vaccination; however, Omicron variant could turn out to be disruptive. We remain positive on the sector as (i) India business is expected to grow in double digit, (ii) continuous cost-control ...
Multiplex Industry is all set to see a new entrant. Cineline India Ltd (part of Kanakia Group), is re-entering the film exhibition business in Q1FY23 (under a new brand) through nine properties with 23 screens. PVR had acquired 135 Cinemax movie screens in 2012 for Rs 3.95 bn. Out of ...
L&T FinancE Holdings (LTFH) has entered into a definitive agreement with HSBC AMC, in which the latter will acquire 100% stake in L&T Investment Management (LTIM), the investment manager of L&T Mutual Fund (LTMF), for $425 m. In addition, LTFH will be entitled to excess cash (Rs 5-7 bn) in ...