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News digest: JSW-Tata battle, bank recapitalisation, audit of Jet, and more

BS Web Team/New Delhi 13 Aug 18 | 12:22 AM

JSW-Tata Steel battle spills over to iron ore

Locked in a battle for Bhushan Power & Steel, the clash between the country’s top two steelmakers, 

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Tata Steel and JSW Steel, is spilling over into the sphere of iron ore.JSW Steel has challenged the auction process for iron ore blocks in Odisha.  

The matter being heard in the Delhi High Court is on participation of companies holding more than the limit permitted under the Mines and Minerals (Development & Regulation) (MMDR) Act. Read more 

Next round of bank recap likely in Q4

The final round of recapitalisation of public sector banks (PSBs) under the National Democratic Alliance government’s tenure may happen during the fourth quarter of this financial year (2018-19). In a first, the recapitalisation exercise will be linked to the performance of 21 PSBs in executing the 30-point reforms agenda chalked out by the Centre. The Indian Banks’ Association (IBA) has roped in Boston Consulting Group (BCG) to bring out a report card on compliance of the reforms agenda, known as EASE — Enhanced Access and Service Excellence. Read more 

DGCA to conduct audit of Jet Airways 

The Directorate General of Civil Aviation (DGCA), the aviation regulator, has decided to conduct an audit of Jet Airways, which is facing a severe liquidity crisis. Sources said the audit would focus on whether the financial stress was affecting the airline’s operations and maintenance.

Jet said it was aware of the proposed inspection. “The airline is prepared for it (audit). At Jet, safety is of paramount importance," a source said. Read more 

When a celebrity is your holiday guide 

Picture this. You are sitting in the Lord’s Cricket Ground, watching a match with your favourite ex-cricketer, who later takes you for an evening out with a few of the players and then a walk around London to all his favourite pubs.

Or, you are travelling through Tuscany in Italy with a celebrity chef who guides you to the restaurants and trattorias he likes to frequent, so you get to wine and dine on the best that the region has to offer. Read more 

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Company Price Gain (%)
Sun Pharma.Inds.601.656.91
Yes Bank381.752.87
ICICI Bank332.302.17
Axis Bank618.302.15
Reliance Inds.1,210.952.00

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