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Top 10 biz headlines: Mindtree buyback plan, Banks to rescue Jet, and more

From Mindtree buyback plan to Jet Airways, BS brings you top 10 business stories that made news on Wednesday

BS Web Team  |  New Delhi 

Etihad control won't hit Jet ties abroad

1) Banks to take control of cockpit; lenders to infuse Rs 1,200 cr

A consortium of lenders, led by State Bank of India (SBI), would operate the airline managed by a professional board, a source in the know said. Read on...

2) board defers decision on share buyback plan amid L&T takeover bid

Mindtree’s board on Wednesday was unable to take a decision on its proposed buyback plan to stave off a takeover bid by Larsen & Toubro. The decision might be taken at a later meeting. Read on...

3) Vodafone Idea board approves Rs 25,000 crore rights issue at 60% discount

VIL shareholders would be able to buy 87 shares for every 38 held for an issue price of Rs 12.50 a share, or a 60 per cent discount to the current stock price. However, in terms of the adjusted share price for the rights issue, which is Rs 18.7, the discount is 33 per cent. Read on...

4) I-T department, other tax agencies can initiate insolvency: NCLAT

Income tax, value added tax, other such dues will come within the meaning of operational debt, says NCLAT. Read on...

5) Embassy Office Parks REIT IPO gets fully subscribed on Day 3

The Rs 4,750 crore issue, which was opened for subscription on Monday, was subscribed 1.2 times till 2 pm on Wednesday. Read on...

6) drops to fourth place in market share; pilots write to PM

IndiGo continued its leadership with 43.4% market share in February while slipped to 11.4% share below (13.7) and Air India (12.8). Read on...

7) Japanese carmaker Toyota to sell Maruti's Ertiga and Ciaz in India

Japanese carmakers Toyota and Suzuki have agreed to take concrete steps towards sharing more models, vehicle architecture and electric vehicle technology. As part of the agreement, Toyota will now sell the Ertiga and the Ciaz sedan of Maruti Suzuki in India. Suzuki, in turn, would get two new electric vehicles built on the Toyota platform: The RAV4 and Corolla Wagon for the European market. Read on...

8) Coca-Cola’s bottling arm joins the co-working space bandwagon in Pune

This will be its first attempt to test the co-working space model, in line with contemporary workspace trends. Based on its experience at Pune, the beverage major could look at similar options, in other parts of the country in the future.

9) Small packs are now a thing of beauty in cosmetics industry

Smaller beauty product packs bring down prices, increase sales by reaching out to a wider customer base, reports Livemint.

10) Experts see smooth sailing for SpiceJet, IndiGo as Jet hits turbulence

rose on the news of joining global airlines’ grouping IATA while Jet slumped, as it grounded more aircrafts due to lack of payment to its lessors, reports Economic Times.

First Published: Thu, March 21 2019. 06:25 IST