GVK Power and Infrastructure (GVKPIL) has received the shareholders’ approval to raise up to Rs 8,000 crore.

The resolution to raise the funds, by a combination of various options listed on the agenda of the annual general meeting (AGM) held recently, has been passed by the requisite majority, the company said in a BSE filing on Friday.

In a six-hour long marathon meeting held on Friday, the board members of Mumbai-based Tata Sons discussed the possibility of taking over the crisis-ridden Jet Airways. However, the company is yet to make a concrete proposal in this regard. Even as the discussions continued, the speculation sent the carrier's stock soaring to end the trading session at 8.7% higher. The stock has risen by around 40% in the past five days.

As a member of the High Power Group (HPC) set up by Gujarat government for evaluating the options to ensure sustained operations of stressed imported coal-based power projects in its coastal region, one question that I am always asked after recent Supreme Court order is whether this provides a template for resolving the problems of all stressed power projects.

Coal India has received a lukewarm response from its employees after its stocks were offered to them at a discount.

This comes after its stake sale offer in the open market got a tepid response — only 0.19 per cent oversubscription option was exercised despite provisioning a 6 per cent green-shoe option.

With digital services emerging as the next growth driver for information technology (IT) services firms, quality of revenue is taking precedence over quantity, leading to a fair amount of rationalisation of customers.

This trend is reflected in the active customer base of Indian IT services firms, which grew at a tepid pace for the last three years despite healthy additions of clients every quarter.

The benchmark indices posted their third straight weekly gains, after investor sentiment improved following a sharp drop in crude oil prices.

Stability in the rupee saw foreign institutional investors (FIIs) turn net buyers on all five trading sessions of the week.

German luxury carmaker Mercedes-Benz Friday launched new CLS model with a starting price of Rs 84.70 lakh (ex-showroom, all India).

The third generation CLS is powered by a new two-litre BS VI compliant diesel engine with power of 180 kw, the company said in a statement.

Loss-making national carrier Air India plans to mop up Rs 700-800 crore by selling over 70 residential and commercial properties spread across the country, a senior airline official said on Thursday.

This fresh bid is a part of the airline’s real estate assets monetisation plan approved by the then UPA Government in 2012.

Overwhelmed with the response for the first tranche of highway projects under the toll-operate-transfer (TOT) model, union minister for roads and highways Nitin Gadkari Thursday said he expects the second tranche to fetch over Rs 10,000 crore.

The maiden bundle of nine highway projects under TOT was a huge success, which was over subscribed and had fetched NHAI Rs 9,681 crore.

New Delhi: All telecom operators, except Reliance Jio, failed to meet call drop benchmark in drive test conducted by sector regulator Trai on different highway and rail routes, says a report.

According to a Trai report published on Thursday, while network performance of telcos differed on highways, none of them, except RJio, could meet call drop benchmark on the three rail routes covered under the test.

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