Corporates

Infosys' rival Tata Consultancy Services on Thursday reported a 24.1 per cent rise in net profit for the quarter ending in December.

Saddled with a debt of about Rs 8,052 crore ($1.14 billion) as of September 30, Jet is desperately searching for a deal that could help mitigate its severe liquidity crunch.

Jet Airways said the airline is working on its turnaround strategy and updating its partners, in real time, on efforts taken to improve its liquidity.

JLR will cut some 4,500 out of 42,500 jobs, targeting managerial roles rather than production-line workers as it battles to return to profitability.

Jet Airways last week said it had defaulted on a debt payment to a consortium of Indian banks, led by SBI, that had been due on December 31.

Pfizer acquired the sites as part of its $15 billion purchase of Hospira in 2015, to boost its portfolio of generic injectable drugs and copies of biotech medicines.

The private sector bank will now seek approval from the Reserve Bank of India (RBI) for the CEO appointment, and will make the relevant disclosures after the RBI's approval, the lender said in a statement.

In October, the government took control of IL&FS, after a string of defaults on debt obligations by the infrastructure financing and construction company spooked domestic markets.

That rare step exposed weakening demand in China for Apple iPhones amid a slowing economy, which has also been buffeted by a bruising trade war with the US. Many analysts and consumers have said the new Apple iPhone devices are overpriced. Apple's surprise warning on sales triggered a broad sell-off in global stock markets last week.

Production from its European plants fell 12.7% to 2.33 million tonnes for the third quarter ended December 31, said Tata Steel in a press release.

Infosys had completed its maiden buyback of 11.3-crore equity shares in December 2017 of Rs 5 face value for Rs 13,000 crore at Rs 1,150 per share.

The new patents were granted to a diverse group of more than 8,500 IBM inventors in 47 US states and 48 countries.

Jet Airways, which is struggling with debts to the tune of over Rs 8,000 crore, will meet a group of lenders including State Bank of India (SBI) at around 2 pm on Tuesday. The meeting of Jet Airways with its lenders comes amid falling crude oil prices, an opportunity that the airline wants to use to assure banks and improve its cash flows. Jet Airways had last year defaulted on a scheduled loan repayment, creating ripples in the country's aviation sector.

The United States in early November granted India a six-month waiver from sanctions on Iran's oil exports.

Bhandhan Bank has a market capitalisation of Rs 59,800 crore ($8.6 billion), while Gruh Finance is worth Rs 23,224 crore.