State Bank of India, which raised Rs 4,000 crore in capital through additional tier I bonds (AT1 bonds) in September, is planning another round of AT1 bond issuance of Rs 6,000 crore to replace maturing securities.

Executives at the country’s largest lender said the bank had an adequate capital base to support business growth and meet regulatory norms.

At a time when Tamil Nadu has seen the closure of the Ford India unit, state Industries Minister Thangam Thennarasu said the state was expected to see investment worth around Rs 35 trillion by 2030 and had got projects of about Rs 20,000 crore since the new government took charge in May.

Soon after the closure of the Ford plant, the state government had assured all it would take steps to ensure that around 2,600 employees were not affected by the company’s move.

Commerce and Industry Minister Piyush Goyal on Saturday said the government has not taken any decision on Air India so far and the final winner will be selected through a well defined process.

I have been in Dubai since...day before and I don't think there is any such decision that has happened at all. Of course bids were invited...and that is assessed by the officers and in due course of time, there is a whole well laid down process through which the final winner will selected, he told reporters here.

A day after refusing to convene an EGM based on the demand of its top investor Invesco, Zee Entertainment on Saturday moved Bombay High Court requesting the demand to be deemed as illegal and invalid.

This is to inform you that the Company has filed a suit before Bombay High Court under the ordinary original civil jurisdiction (Civil Suit), inter alia requesting the Bombay High Court to declare that the requisition notice sent to the Company by Invesco Developing Markets Fund and OFI Global China Fund LLC (shareholders of the Company) is illegal and invalid, the company said in a stock exchange filing.

Drug firm Pfizer Ltd on Friday said it has entered into an agreement with Mylan Pharmaceuticals to sell its Upjohn business for Rs 180.48 crore.

The company has entered into a business transfer agreement with Mylan Pharmaceuticals to transfer certain primarily off-patent branded and generic established medicines (Upjohn business) as a going concern to Mylan for a consideration of Rs 180.48 crore, Pfizer Ltd said in a regulatory filing.

Reliance Retail Ventures (RRVL), the retail arm of Reliance Industries, has for the second time extended the timeline for completing its Rs 24,713-crore deal with the Future group, to March 31, 2022, as it awaits regulatory and judicial clearances.

In a regulatory filing on Friday, Future Retail said RRVL had extended the timeline for a long-stop date from September 30, 2021 to March 31, 2022, which has been duly acknowledged by Reliance Retail and Fashion Lifestyle Ltd, a wholly-owned subsidiary of RRVL.

The Income-Tax (I-T) department has raised a demand of Rs 8,334 crore against Grasim Industries as capital gains tax in a transaction related to the demerger of its financial services business. The Aditya Birla Group company, however, said it would take appropriate action against the order, which was against the spirit of tax laws.

Grasim referred to its earlier communications in March 2019 about the demand towards dividend distribution tax raised on the company by the deputy commissioner of income tax (DCIT) and subsequent stay granted by the Bombay High Court in the matter, pending decision by the tribunal.

Indian Bank on Friday said it has picked up 13.27 per cent stake in the proposed bad bank National Asset Reconstruction Company Ltd (NARCL).

The lender has subscribed to 1,98,00,000 equity shares of NARCL for cash consideration of Rs 19.80 crore, it said in a regulatory filing.

Yoga guru Baba Ramdev has got away with a mere rap from market regulator Securities and Exchange Board of India (Sebi) for making dubious investment promises.

In a viral video, Ramdev is seen asking his followers to buy shares of Ruchi Soya Industries if they want to become crorepatis. The comments came ahead of the company’s Rs 4,500-crore fundraise by way of a follow-on offering (FPO).

The Argentine National Administration of Drugs, Food and Medical Technology (ANMAT) has authorised the use of the Chinese Sinopharm vaccine against COVID-19 for children aged 3-11 years, Health Minister Carla Vizzotti said, adding that the campaign will start by the end of the year.

ANMAT has confirmed that we can use Sinopharm [vaccine] for children aged 3-11 years ... Argentina will finish 2021 with the full coverage and protection of people aged over 3 years, Vizzotti said at a press conference on late Friday.

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