Tata Steels strategic priorities will be to focus on India, Chandrasekharan
The Dollar Business Bureau N Chandrasekharan, the Chairman of Tata Steel in his address to the shareholders in the company’s Annual Report for 2016-17 said, Tata Steel’s strategic priorities going forward will be to focus on India while pursuing pension restructuring programme in the UK, which is likely to conclude soon. Speaking about the steel demand in India which is likely to witness growth soon in the near future, Chandrasekharan said, "While the steel sector in India is financially stressed currently, the government of India has outlined its intent for ensuring long-term viability of the sector through the recently announced National Steel Policy 2017.” Chandrasekharan who had taken over as Chairman of the company in February after the departure of Cyrus Mistry said, ...
Tweak in shareholding structure likely to up foreign investments in IndiGo Airlines
The Dollar Business Bureau Ahead of Initial Public Offer (IPO), the promoters of IndiGo airlines have decided to tweak the shareholding structure with an aim to create space for foreign investors. With this, US-based NRI Rakesh Gangwal, who was holding 47.88% stake in IndiGo airlines through Virginia-based company-Caelum Investments, will now hold a majority share of the airlines. A decision in this regard followed merger of Caelum Investments with InterGlobe Aviation (which operated the airlines by holding 51.12% stake), the process for which began last year when InterGlobe Aviation filed an application in the Delhi High Court seeking consent for a merger with Caelum Investments. Caelum Investments’ stake in the airlines was deemed as foreign investment and the promoters could have had ...
