 "News digest: Fortis deal, Air India sale, hotel occupancy, and more")
Fresh fund infusion by Munjals and Burmans may alter Fortis sale plans
The plan for fresh capital infusion (of Rs 12.50 billion) by Hero’s Munjals and Dabur’s Burmans has the potential to alter the entire deal scenario for Fortis Hospitals, such that the latter now has a scope to defer its sale altogether. Speaking to Business Standard, Sunil Kant Munjal, chairman, Hero Enterprise, said they are investing in Fortis for the long term. Read more
Etihad sends feelers to Anil Ambani to buy 76% stake in Air India
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Gulf airline major Etihad is planning to bid for state-owned carrier Air India. Etihad is looking for partners in major Indian corporate groups and has sent feelers to Anil Ambani-owned Reliance group (ADAG). The Union government has invited expression of interest from private players to buy 76 per cent in the national carrier. The sale includes 100 per cent in subsidiary Air India Express and 50 per cent in ground handling joint venture AISATS. Read more
80% and counting: Hotel occupancy gain strength in Delhi, Mumbai
Hotel occupancy in the country’s top two markets, Delhi and Mumbai, has hit 80 per cent in January-March, after over a decade. Occupancy in Delhi in 2016-17 was 70 per cent and around 75 per cent in Mumbai. Read more
Industrial output expands at 7.1%; March retail inflation eases to 4.28%
The macroeconomic scenario for the country looks favourable for now, with industrial output continuing its healthy expansion, albeit at a slightly lower pace, and retail inflation moderating further. However, there are also some bleak signs, such as a contraction in mining in February and a rise in core inflation in March. Besides, oil prices and minimum support prices may lead to a spike in inflation in coming months. Read more
Bhanu Pratap Sharma replaces Vinod Rai as chairman of Banks Board Bureau
Former senior bureaucrat Bhanu Pratap Sharma is the new Banks Board Bureau (BBB) chairman. The government took 12 days to appoint a successor to Vinod Rai, whose term ended on March 31. Read more
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