Here is a collection of the most important stories this evening:
Vistara brand to be nixed after merger, says Campbell Wilson
Following the merger of Air India and Vistara into a full-service carrier, the merged entity will be known as Air India, which is much more recognised outside the country, the airline's chief executive officer Campbell Wilson said on February 27. He added that the process of integration of Vistara with Air India is underway.
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Manish Sisodia sent to CBI custody for five days
A court in Delhi extended the CBI custody of deputy chief minister Manish Sisodia, who was arrested in connection with alleged corruption in the now-withdrawn liquor policy, by five days on February 27.
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Adani Enterprises tanks 10% as group stocks continue to bleed
The share price of Adani Enterprises, the ports-to-power conglomerate Adani Group flagship, slipped further on February 27 to inch closer to its 52-week low of Rs 1,017. Some buying at lower levels helped pare the losses and the stock closed 10 percent lower at Rs 1,186 . The stock has lost two-thirds of its value since an explosive short-seller report was released on January 24, accusing the company of stock manipulation. The company's denial has done little to stem the fall.
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Fabindia scraps $482-million IPO amid uncertain market conditions
Indian apparel retailer Fabindia said on February 27 it has withdrawn the plan for a $482-million initial public offering (IPO) amid rough market conditions, the latest company to scrap listing plans as interest rate worries pressure stock markets.
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Bank credit growth eases to 16.8% in December quarter: RBI data
Banks' credit growth eased to 16.8 percent in the December quarter from 17.2 percent in the preceding quarter, data from the Reserve Bank of India (RBI)’s "Quarterly Statistics on Deposits and Credit of SCBs: December 2022" showed.
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Eateries to push back against Zomato’s move to raise commission
Angered by Zomato’s move to raise its commission, restaurants are looking to launch a massive pushback against the food delivery company. The food delivery company has recently started to re-negotiate its terms with many restaurants across cities as it tries to increase its take rates and improve profitability in a low-growth environment, according to people close to developments.
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Modi releases over Rs 16,000 crore to farmer beneficiaries in latest PM-KISAN instalment
Prime Minister Narendra Modi on February 27 released the 13th instalment of more than Rs 16,000 crore under the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) through direct benefit transfer to more than eight crore beneficiaries. Under the scheme, eligible farmer families are provided Rs 6,000 a year in three equal instalments of Rs 2,000 each.
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Not so soon, Ashwani Gujral: Remembering a life well lived
Stock market analyst Ashwani Gujral passed away on February 27. Gujral was a well-known personality in the Indian stock market and was widely recognised for his expertise in technical analysis. CNBC-TV18's Anuj Singhal reminisces special memories of the market analyst.
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