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.

Despite Bhartiya Janata Party's record win in North-eastern state of Tripura, benchmark indices on Monday opened in red over weak Asian cues and import tariffs on steel & aluminium in the US. The 30-share BSE Sensex was down 193.88 points at 33,853.06 and the 50-share share NSE Nifty fell 66.10 points to 10,392.30.

Nearly half of the IT security professionals, 46 per cent, failed to change their security strategy substantially even after experiencing a cyber-attack, according to the information by the security company, CyberArk.

This level of cybersecurity inertia and failure to learn from past incidents puts sensitive data, infrastructure, and assets at risk, CyberArks "Global Advanced Threat Landscape Report" 2018, said this week.

New Delhi: The CBI suspects that the annual audit reports of Punjab National Bank's internal auditors were either suppressed or ignored by the top brass, resulting in non-detection of the Rs 12,636-crore loan fraud by diamantaires Nirav Modi and Mehul Choksi.

CBI sources expressed surprise that the scam continued from 2011 to 2017-2018 without detection by the top brass of the state-run bank although certain inconsistencies had been flagged in the audit reports.

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