The post Jet Airways To Resume Operations In 2022 After 2019 For The First Time appeared first on The Edge Media.
]]>“Jet Airways flew again today, May 5, our 29th birthday! It’s an emotional day for those of us who have been waiting, working, and hoping for this day, as well as Jet’s devoted customers who can’t wait for the airline to resume operations,” according to Jet Airways.
Sanjiv Kapoor, who formerly held key positions at Vistara and Spicejet, was chosen as the new CEO of Jalan Kalrock Consortium earlier this month (CEO).
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]]>The post “Did the Chinese Government just gain a bit…..?,” Bezos on Twitter Takeover By Musk appeared first on The Edge Media.
]]>After work hours, a spokesperson from Musk’s family office did not immediately reply to a request for comment. In just one of his first tweets following the take-private transaction, Musk defended free expression on the internet. Officials in China, meanwhile, have banned Twitter, as well as most other American social media platforms, due to concerns about the influence on public debate.
The post “Did the Chinese Government just gain a bit…..?,” Bezos on Twitter Takeover By Musk appeared first on The Edge Media.
]]>The post Parag Agrawal To Get $42 Million If Removed From The CEO Position Of Twitter appeared first on The Edge Media.
]]>Depending on Musk’s offering price of $54.20 per share and conditions in the company’s latest prospectus, Equilar’s calculation includes a year’s valuation of Agrawal’s basic pay as well as expedited vesting of all stock awards, according to an Equilar spokesman.
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]]>The post Ola Electric To Launch Their New Car In Two Years appeared first on The Edge Media.
]]>The business also demonstrated a self-driving cart that employs LiDAR, or light detection and ranging technology, at its 500-acre electric two-wheeler production plant in Pochampalli, Tamil Nadu.
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]]>The post 6.95% in Retail Inflation in March Due To Increased Food Prices appeared first on The Edge Media.
]]>Meanwhile, the NSO’s indicator of industrial production (IIP) statistics revealed that factory output increased by 1.7 percent year over year in February. Nevertheless, the IIP growth rate fell by 4.7 percent consecutively, indicating that the economic recovery is still fragile.
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]]>The post HDFC Merges With HDFC Bank, On The Way To Create A Financial Giant appeared first on The Edge Media.
]]>Earlier today, HDFC Bank’s stock rose 7.50 percent to Rs 1619.20, valuing the company at Rs 8,97,933.99 crore. HDFC, simultaneously, rose 9.27% to Rs 2678.20, valuing the company at Rs 4,85,564.27 crore.
The post HDFC Merges With HDFC Bank, On The Way To Create A Financial Giant appeared first on The Edge Media.
]]>The post Trinamool MP Mahua Moitra Questions About Government’s Acceptance of Xiaomi’s Donations appeared first on The Edge Media.
]]>Mahua Moitra tweeted that issues like these were stonewalled in Parliament when Congress discussed the matter in 2020 within the first wave of the Covid-19 outbreak.
Under the brand name MI, Xiaomi India is a dealer and retailer of mobile phones in India. In 2014, the firm began operations in India, and in 2015, it began remitting funds. Manu Kumar Jain, the group’s worldwide vice president, was questioned by the ED previously this month.
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]]>The post After the Infosys attack, “Everyone Is Scared” echoes throughout India Inc appeared first on The Edge Media.
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Several industry leaders told news agency Reuters that Prime Minister Narendra Modi’s officials and ideological allies have scared the business community with a public rant against two business titans.
Over the weekend, a publication owned by members of the Rashtriya Swayamsevak Sangh (RSS) attacked Infosys for failing to fix problems with the income tax website it manages.
The RSS labeled Infosys “anti-national” for sabotaging the tax system, sending shivers through the IT industry, which is leery of being on the wrong side of Prime Minister Narendra Modi’s government.
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]]>The post HCL Technologies signs five-year agreement with German multinational chemical company Wacker Chemie AG appeared first on The Edge Media.
]]>“We wanted a partner to not only enhance our digital transformation journey, but also support the ‘Wacker Digital Program,’ helping us to become a digital leader in the chemical industry,” HCL Technologies added.
“Wacker was looking to transform its current sourcing model with a long-term ‘Next Generation Managed Service’ sourcing model,” Dirk Ramhorst, CIO and CDO, Wacker Chemie AG said.
The shares of HCL Technologies ended the day at ₹ 1,133.70, lower by 0.6 per cent, on the BSE as against a 0.29 per cent decline in the benchmark indices.
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]]>The post Government may be the biggest loser in case Vodafone Idea collapses appeared first on The Edge Media.
]]>The hit for the government just doesn’t stop here. If one adds the outstanding Rs 23,000 crore owed to the banks, the impact could be one of the biggest in corporate history as a large part of the loans (65-70%) is extended by state-run lenders. The banks have further extended guarantees worth thousands of crores to the company, which also run the risk of defaults.
“The telecom department and the national exchequer would lose the most in case of a collapse of Vodafone Idea. The picture looks grim considering the poor recoveries and unrealised outstanding after the collapse of Anil Ambani’s Reliance Communications and Aircel, where too several thousands of crores of rupees remain locked. Taxpayers stand to lose the most,” an analyst with a leading brokerage told news agency.
Cumulatively, the company currently has a debt of Rs 1.8 lakh crore, and has been bleeding financially with losses pegged at Rs 7,000 crore during the March quarter. The debt tops Rs 1.8 lakh crore, according to ICICI Securities. “We see payment of liabilities coming soon, while fund availability remains a challenge,” it said.
According to numbers sourced from various analysts and Vodafone Idea’s financial results, at Rs 107, the company remains precariously placed with the lowest average revenue per user (Arpu) among its peers.
Reliance Jio reported Arpu of Rs 138 and Bharti Airtel at Rs 145, though the latter has said time and again that at least Rs 200 Arpu is needed to nurse the capital-intensive sector back to health.
Vodafone Idea’s poor outlook was evident after the SoS calls given by its promoters, who have refused to make any further investments into the company, and are asking the government to support its survival.
Goldman Sachs said that it expects capex for Vodafone Idea to remain under pressure, “resulting in continued market share loss”.
It said that between December this year and April of 2022, the company has about Rs 22,500 crore of dues (debt, AGR and spectrum) payable.
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