Mumbai: Private sector lender HDFC Bank Ltd is looking to launch its equity share sale of up to $2.5 billion (around Rs15,000 crore) in a fortnight, while HDFC Asset Management Co. Ltd (HDFC AMC) will be filing its draft initial public offer (IPO) papers, said three people aware of the developments.

In December, HDFC Bank said it is planning to raise up to Rs24,000 crore through a combination of preferential allotment and qualified institutional placement (QIP).

Guenter Butschek, the 57-year-old managing director of Tata Motors Ltd, has steered the company’s India operations to a profit for the first time in five quarters. But the bigger task that Butschek claims he has achieved is making the company less vulnerable to unpleasant shocks.

“Don’t blame the market for dropping the ball. The best argument for me was that overall market volume dropped but it’s not enough of a reason to trouble your market share,” Butschek said in an interview.

The 2018 edition of the Academy Awards has been highly anticipated, not simply due to the importance of the trophies but also the spirit of activism and speaking out sweeping through the American movie industry. In the wake of Harvey Weinstein and other leading actors and filmmakers accused of sexual misconduct, the Oscars this year brought a number of causes front and centre, from greater opportunities for women to racism and gun control.

Mumbai: Divestment-bound national carrier Air India is looking at raising Rs500 crore by selling land and real estate in 2018-19, and is likely to sell some of its prime properties across the country, two senior officials of the airlines said.

The airline is looking to sell several of its land blocks and real estate including a 4-acre piece of land at Delhi’s Baba Kharak Singh Marg, residential colony at Vasant Vihar, a piece of land in Chennai, and a half-acre plot in Mumbai’s Pali Hill that houses about 14 apartments, one of the officials said.

The nub of TRAI’s Q3FY18 revenue report was in the sharp q-o-q decline in adjusted AGR for the industry despite Q3 being a quarter where Jio had taken a price hike. More importantly, the collapse in the revenues of the challenger operator set did not translate into absolute revenue gain or reversal in revenue trajectory for the incumbents. We compute Jio’s adjusted AGRMS to be 16.2% for Q3, up from 12.1% in Q2FY18.

Nasscom has guided for IT services exports growth of 7-9% in c/c for FY2019 as against 7% likely to be achieved in FY2018. Nasscom expects a better economic environment and deals signed by the industry to help elevate growth trajectory, especially towards the second half. We believe that FY2019 growth will be better than FY2018 though not as steep as the Street is building in estimates.

NEW DELHI:Bharti Airtel and Idea Cellular have challenged the telecom regulator’s recent tariff order on predatory pricing in the telecom tribunal, setting the stage for another legal battle between India's older carriers and the sectoral watchdog who have been at loggerheads for more than a year now.

India's first and third ranked telcos have argued that the February 16 order was unconstitutional as it prevented them from retaining customers and conducting business, people familiar with the matter told ET.

KOLKATA: ICICI Bank is expected to soon start handling post-auction settlement for the Rs 8,000-crore-a-year tea auction business at all centres.

The bank has already launched postauction settlements at Coonoor and Siliguri auction centres and in a few weeks, it is likely to start a similar process in Guwahati and Kolkata, the two largest tea auction centres in India, and other locations, a senior official of the Calcutta Tea Traders Association told ET.

NEW DELHI: Indian Railways would soon announce a Rs 10 lakh-crore high-speed train corridors construction plan to connect all major cities in the country, covering almost 10,000 kilometres, along the lines of the government’s Bharatmala highways development programme.

“The plan would be announced in April,” a top rail ministry official said. “We'll unveil the routes that would be connected along with the funding mechanism,” the person told ET.

MUMBAI: State Bank of India has decided against funding interest during construction, a move that could spell further trouble for companies seeking project finance from the nation’s largest lender as they cannot keep interest payment pending until projects start generating revenue. The decision is aimed at de-risking the bank’s loan book, SBI chairman Rajnish Kumar told ET.

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