The Life Insurance Company (LIC) considers its decision to own 51 per cent in state-owned IDBI Bank a sound business move and a good investment opportunity, Finance Minister Piyush Goyal said on Tuesday.

“With the approval of LIC’s board, which was of the view that the proposed acquisition is a sound business proposition and is both commercially viable and a good investment opportunity

It may be the most successful venture investment of all time. In 1995, Jackie and Mike Bezos plowed $245,573 into their son’s fledgeling e-commerce website, according to a prospectus two years later. It was a big gamble, Mike Bezos, the stepfather of Amazon.com Inc. founder Jeff Bezos, recalled onstage during a 2015 event at the National Constitution Center in Philadelphia.

Tata Motors posted the worst bottom line performance in a decade during the April-June quarter. The company posted a loss of Rs 18.63 billion as sales at Jaguar Land Rover, its UK-based subsidiary sputtered, following a one-time regulatory issue in China, uncertainty around Brexit and poor demand for diesel vehicles in the UK and Europe.

New Delhi: Air India Ltd has committed to clear dues to banks and aircraft leasing companies in a fortnight by when it expects to get fresh capital infusion from the government, said an official at the debt-ridden national carrier.

The carrier, which recently failed to draw investor interest in a privatisation attempt by the government, has sought about Rs 2,121 crore from the government this fiscal year as part of an ongoing bailout package.

New Delhi: Tata Motors Ltd, India’s largest automaker by sales revenue, will report its June quarter (Q1 FY19) results on Tuesday. The sustained turnaround in the domestic business, helped by a low base, is unlikely to offset a muted performance by the UK subsidiary Jaguar Land Rover (JLR) Automotive Plc, as the Tata Group flagship is expected to report a net profit of Rs 909.1 crore on net sales of Rs 70,900.8 crore, according to a Bloomberg poll of 10 analysts.

Mumbai: HDFC Bank Ltd, India’s biggest private sector lender, has launched a share sale to raise up to ₹15,500 crore from domestic and foreign institutional investors. The fundraiser will comprise a mix of a qualified institutional placement (QIP) and American depository receipts (ADR), the company informed stock exchanges. Only domestic institutional investors will participate in the QIP.

Benchmark Sensex slipped from life highs to fall over 100 points to 37,381.05 on Tuesday as markets took a breather after six consecutive record-setting sessions.

Weak trend in other Asian markets, muted earnings and fresh foreign capital outflows weighed on investor sentiment here.

More than 500 hikers and their guides have been successfully evacuated from an Indonesian volcano after a deadly earthquake triggered landslides that trapped them on the mountain, officials said on Tuesday.

Tonnes of rock and mud were dislodged on Mount Rinjani in the 6.4-magnitude quake, which struck early on Sunday and was followed by scores of aftershocks, blocking the hiking routes that crisscross the mountain.

NTPC may not go ahead with the construction of the upcoming 1,980-MW Nabinagar-2 and 1,600-MW Katwa thermal power generating units in Bihar and West Bengal, respectively, until it receives “re-confirmation” from the beneficiary states if they still require power from these projects.

Power purchase agreements (PPAs) for these projects were signed with West Bengal, Bihar, Odisha, Sikkim and Jharkhand in 2010.

In its last financial result before merger with Vodafone India, Aditya Birla Group firm Idea Cellular today reported total comprehensive income of Rs 263.6 crore in the June quarter, mainly on account of one time gain from sale of mobile towers.

Blows from turbulent tariff war was, however, visible on its operational performance.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.