Tata Sons, Singapore Airlines invest ₹465 crore in Vistara
May 13, 2021
The funding has been made into Tata Sia Airlines Limited, the operating company of Vistara
Tata Sons and Singapore Airlines have invested ₹465 crore in their Indian joint venture airline Vistara.
According to financial data accessed by the business intelligence platform, Tofler, the investments have been made against 46.5 crore new shares in the airline. While Tata Sons has pumped in ₹237 crore for 23.7 crore shares, Singapore Airlines has invested ₹228 crore.
The funding has been made into Tata Sia Airlines Limited, the operating company of Vistara.
The fresh equity infusion comes at a time when the aviation industry is struggling to stay afloat due to the travel restrictions across the country. Additionally, according to India Ratings, 2021 has brought to the fore three new challenges to contend with higher fuel expenses, rising competition and the flight for market share.
Union Govt Releases Rs 4,608 Crore To States As Grants To Local Bodies, Total Rs 87,460 Crore Released In FY21
by Swarajya Staff - Apr 2, 2021 07:36 AM
The Finance Ministryâs head office (Mint via Getty Images)
As per the recommendations of the 15 Finance Commission, Ministry of Finance on Wednesday (31 March) released Rs 4,608 crore to states for providing grant-in-aid to the local bodies.
The grants are both for the Rural Local Bodies (RLBs) and Urban Local Bodies (ULBs). Out of this, RLBs will get Rs 2,660 crore and ULBs will get Rs 1,948 crore.
In the financial year 2020-21, the government has released a total amount of Rs 87,460 crore to 28 states as local body grants. Out of this, Rs 60,750 crore have been released for RLBs while Rs 26,710 crore have been released for ULBs, the Ministry of Finance said in a statement.
Four public sector bank stocks rally on fund infusion
April 01, 2021
Shares of four public sector banks (PSBs) Bank of India (BoI), Central Bank of India (CBoI), Indian Overseas Bank (IOB) and UCO Bank rose between 2.95 per cent and 6.25 per cent on Thursday on capital infusion aggregating ₹14,500 crore by the Centre.
The PSBs informed the exchanges about the Government’s capital infusion on Wednesday. CBoI, IOB and UCO Bank are under the Reserve Bank of India’s prompt corrective action.
IOB shares rose the most in percentage terms, closing at ₹17, up 6.25 per cent on the BSE. The Bank has received capital infusion of ₹4,100 crore; and the stock of CBoI, which received ₹4,800 crore, closed at ₹17.15, up 4.89 per cent. UCO Bank shares gained 3.91 per cent at ₹11.42, as the bank received ₹2,600 crore. BoI shares closed at ₹69.85, up 2.95 per cent. The bank has received ₹3,000 crore. India Ratings and Research (Ind-Ra) opined that capital infusion through