Mumbai: PC Jeweller has reached a one-time settlement (OTS) with a consortium of lenders led by State Bank of India (SBI) to settle its debt by offering banks a mix of cash and equity in the Delhi-based company. The ₹2,250-crore offer represents about a 20% haircut to lenders’ principal amount, estimated at ₹2,900 crore, and…
Aditya Birla Fashion and Retail Ltd has reported a consolidated net loss of Rs 266.35 crore for the fourth quarter ended March 2024. The company had posted a net loss of Rs 194.54 crore during the January-March quarter a year ago, according to a regulatory filing from Aditya Birla Fashion and Retail Ltd (ABFRL). Its…
When the going gets tough, the young and restless look for a high elsewhere, just to stay afloat. This is the case for numerous students from various regions of India who have gone to Canada in pursuit of education and jobs. The unemployment crisis in the land they once hoped would offer prosperity and success…
MUMBAI: A month after raising over Rs 9,000 crore from TCS stake sale, Tata Sons has approached RBI seeking an exemption from a mandatory IPO. The holding company of the $150-billion salt-to-software Tata Group has informed RBI, in the fresh proposal, that it has reduced its debt significantly. Tata Sons needs to cut its debt…
After a year of turmoil last fiscal, the cotton yarn spinning industry is expected to witness a breather this fiscal. Operating margins of cotton yarn spinners are set to improve by 150-200 basis points this fiscal after hitting decadal lows of 8.5-9% last fiscal, said CRISIL Ratings on Wednesday. An analysis of 95 cotton yarn…
Fitch Ratings Agency on Wednesday cut China’s sovereign credit outlook to negative, pointing to escalating risks surrounding the country’s public finances. This decision, which Beijing quickly labeled as “regrettable,” underscores the mounting concerns over China’s economic stability, especially amid a persistent property sector crisis threatening broader financial repercussions.Economic headwinds and policy responsesChinese authorities have been…
