Top 10 biz headlines: Jet gets another EoI, PFC-REC merger stuck, and more

This is the third EoI that Jet has received in the second round of bidding

Beleaguered Jet gets another EoI; CoC extends deadline for resolution plan

Russia-based Far East Development Fund has submitted an expression of interest (EoI) for the beleaguered Jet Airways, sources close to the development said. This is the third EoI that the airline has received in the second round of bidding. Read More

PFC-REC merger stuck, Centre reaching out to PSUs to pick up stake

The merger of India’s two leading non-banking financial companies (NBFCs) in the power sector is yet to conclude even after a year of Power Finance Corporation (PFC) taking over the central government’s stake in Rural Electrification Corporation (REC). Read More

Voda Idea: As threat of closure looms, Kumar Mangalam Birla meets DoT secy

Vodafone Idea Chairman Kumar Mangalam Birla and Chief Executive Officer Ravinder Takkar met Telecom Secretary Anshu Prakash on Tuesday morning to seek relief from coercive action, a day after the Supreme Court had dismissed the company’s plea. Read More

RIL's media biz consolidation a blockbuster move for shareholders

The merger of the media and distribution arms of Reliance Industries under the Network18 umbrella is a positive for shareholders of all four entities. Read More

The rise and rise of Prestige Estates: How the realty firm bucked the trend

At the end of last year, Irfan Razack, chairman and managing director, Prestige Estates Projects, a real estate firm in Bengaluru, made it to the list of new-minted billionaires. Read More

Have lined up Rs 10,000 cr to get future-ready: Hero MotoCorp chairman

Pawan Munjal, chairman at Hero MotoCorp, has had to field constant questions on the company’s future since it parted ways with Honda Motor Company in December 2010. Read More

TVS looking to ride on lower costs for better and sustained growth

At a time when volumes are under pressure, TVS Motor is looking at increasing its margin to double-digit levels from 8.8 per cent it reported in the third quarter of financial year 2019-20 (Q3FY20). Read More

Ashok Leyland plans pain relief via K54 II, hope to save Rs 500 crore

Ashok Leyland has implemented a cost-cutting programme, called K54 II, that it hopes will help it save around Rs 500 crore during the current financial year (FY20) and another Rs 650 crore next fiscal. Read More

Sun Pharma, others on regulator’s radar as drugs flunk quality tests

Sun Pharmaceutical Industries’s antiviral medicine and Zydus Cadila’s anti-inflammatory drugs were among the 34 samples flagged as substandard by the Central Drugs Standard Control Organization (CDSCO) during inspections conducted in January, Livemint reported. The Indian drugs regulator found that two samples of Sun Pharmaceutical’s antiviral medication valaciclovir hydrochloride have impurities. Sun Pharmaceutical disputed the findings and said its internal tests of samples retained by it from the two batches found the drug ingredients are in compliance with standards prescribed by the regulator.

Soon, less paperwork for donors to get tax benefit

If you donate with the dual purpose of giving back to society and getting a tax deduction under Section 80G of the Income-tax Act, 1961, you won’t have to worry about procuring the relevant documents to claim tax benefit from the next assessment year, Livemint reported. Budget 2020 has shifted the onus of furnishing details of the amount of donation and the donor from the individual taxpayer to the charitable institution to which the donation is made. You will find the details pre-filled in the forms at the time of filing your income tax return (ITR).