GVK Power & Infrastructure Ltd. on Friday said its step-down subsidiary GVK Airport Holdings will acquire 12 crore shares of Mumbai International Airport Ltd. (MIAL) from ACSA Global for ₹77 each. On completion of the 10% acquisition from ACSA, along with the earlier acquisition of 13.5% from Bidvest, the shareholding of the GVK Group in MIAL will increase to 74% from the existing 50.5%, GVK Power & Infrastructure said.
Reserve Bank Governor Shaktikanta Das on Friday said the banking system is sound and stable, and one incident at a cooperative bank should be used to generalise the health of the entire financial system. On September 23, the RBI had put restrictions on Punjab & Maharashtra Cooperative (PMC) Bank after it had found out financial […]
A report from State Bank of India (SBI) questioned the ‘exaggeration’ of the current slowdown as it said that changing customer preferences, base effect and global factors were leading slower growth in sales in the auto and fast moving consumer goods sectors. While acknowledging that the economy was undergoing a slowdown, Soumya Kanti Ghosh, Group […]