The Indian government is likely to hand over Air India to the Tata Group today, nearly 69 years after it was taken from the conglomerate, officials said on Wednesday. After a competitive bidding process, the government had on October 8 last year sold Air India to Talace Private Limited—a subsidiary of the Tata Group’s holding company—for Rs 18,000 crore.
Reliance has roped Uday Shankar, former Star & Disney India chairman, and James Murdoch, as strategic partners in the growing media business, according to the sources. Both individuals will play a vital role in contributing to the growth in the media business, they said.
The company reported a higher profit at Rs 101 crore in Q3FY22 against Rs 22.1 crore in Q3FY21, revenue jumped to Rs 1,843.3 crore from Rs 1,243.4 crore YoY. The company to demerge its real estate operations into a subsidiary.
The company reported higher profit at Rs 756.88 crore in Q3FY22 against Rs 751.6 crore in Q3FY21, revenue increased to Rs 5,478.86 crore from Rs 5,169 crore YoY.
The company clocked lower profit at Rs 249 crore in Q3FY22 against Rs 297 crore in Q3FY21, revenue rose to Rs 2,108 crore from Rs 1,995 crore YoY.
Indiabulls Real Estate
The company posted a loss at Rs 87 crore in Q3FY22 against a profit of Rs 80.6 crore in Q3FY21, revenue fell to Rs 322.8 crore from Rs 721.6 crore YoY.
Jindal Steel & Power
ICRA has upgraded its rating from A+ with ‘positive’ outlook to AA- with ‘stable’ outlook on the long term bank facilities and has reaffirmed the rating of A1+ for short term bank facilities of the company.
The company’s officials will meet Kotak Life Insurance, Goldman Sachs Asset Management, and IDFC MF on January 27.
The company’s officials will meet investors and analysts on January 27 to discuss financial results.