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News digest: Tata-ThyssenKrupp JV, Walmart-Flipkart deal, and more

BS Web Team/New Delhi 12 Jun 18 | 03:02 AM

Crack in the welding: Tata Steel, ThyssenKrupp JV hits speed bump

A lifeline joint venture deal for Tata Steel Europe with German giant ThyssenKrupp is headed for trouble with key shareholders asking the ThyssenKrupp management to re-negotiate a better deal as profits of the German company have improved while those of Tata Steel Europe have slowed since last September, when both companies first proposed a merger of their European businesses. Read more

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Walmart-Flipkart deal not quite final yet

A month after signing the biggest e-commerce deal in the world, Walmart and Flipkart are facing roadblocks that could drastically change the contours of the transaction. If the Competition Commission of India (CCI) suggests structural changes in the Walmart-Flipkart deal, as indicated by officials, there could be three options before the American retail giant, sources said. Read more 

Reserve Bank of India to tighten norms for working capital limits

In a move to instil discipline among large borrowers with working capital facility, the Reserve Bank of India has mooted a proposal that at least 40 per cent of the sanctioned limit should be a term loan component. Read more

For loss-making companies, 2017-18 was the worst year in a decade

India Inc’s performance was pulled down by loss-making companies even as 1,794 listed companies reported a combined net profit of Rs 4.42 trillion in 2017-18. During the year, 344 companies reported a combined loss of Rs 1.8 trillion, more than double the number in 2016-17, and the highest in at least a decade. Read more 

Rolls-Royce plans to cut more than 4,000 jobs this week

Britain’s Rolls-Royce said a costly compressor problem that had grounded Boeing planes had now been found in a different type of engine, compounding pressures on a group that is due to cut more than 4,000 jobs this week. Read more 

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Company Price Gain (%)
Coal India291.552.59
Axis Bank636.201.92
NTPC161.201.70
Sun Pharma.Inds.635.251.69
Wipro288.501.48

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