Friday, Jul 19 2019 | Time 11:16 Hrs(IST)
  • Karnataka assembly likely to witness chaotic scene over Governor's direction to CM
  • All women delegation to China
  • Raj Kaur Khaira's new book tells the story of famous and under-celebrated women
  • Amarnath pilgrimmage suspended from Baltal, continues on traditional Pahalgam track
  • Two Haryana youths killed in road accident in Kashmir
  • Hot morning in Delhi, min temp at 25 deg C
  • Investment worth Rs 80,000 cr at Calcutta Leather Complex brings new hope in Bengal's industrial sector
  • Amarnath pilgrim dies due to cardiac arrest at Baltal
  • US shoots down Iranian drone near Strait of Hormuz
  • Batch of 3627 pilgrims leave for Amarnath Cave Shrine from Jammu
  • US shoots down Iranian drone near Strait of Hormuz
  • 50th anniversary of Moon landing: Google honours Apollo 11 mission
  • Pak agrees to grant consular access to Kulbhushan Jadhav
  • Massive gas explosion hits Christchurch; Six injured
  • US, Russia should keep up effective bilateral dialogue established by Gromyko - Antonov
Business Economy

Govt invites fresh bids to sale Pawan Hans

New Delhi, Jul 11 (UNI) The Government on Thursday invited fresh bids for the sale of its stake in the public sector undertaking Pawan Hans Limited (PHL).
Earlier the last year as well, the Centre had attempted to offload its stake in the mini ratna but failed as only a single buyer showed its interest in it.
This time, the Government has announced to sale all its stakes of 51 per cent in the helicopter operator. The rest stakes are owned by Oil and Natural Gas Corporation (ONGC). The ONGC stakes would also be available at the same prices that are offered by the Union Government.
Accordingly, a total of combined 100 per cent stake in the PHL is now available to the bidders. The last date for submitting bids is August 22.
Only technical bids will be required in this phase following which successful bidders of the first phase would be invited on September 12.
SBI Capital Markets Limited was appointed as a deal advisor for the PHL sale. According to a notification by the Civil Aviation Ministry, the authorized capital of PHL was Rs 560 crore and the paid-up capital was Rs 557.48 crore till March 31, 2019.
The government has 2,84,316 shares while ONGC owns 2,73,166 shares. The helicopter operator has 43 choppers till April 30, 2019. The company was allocated 11 routes under UDAN scheme. Of which, it had started operations at three routes.
The PHL was launched in October 1985. It is a 'Mini-Ratna 1' category company. It suffered a loss of Rs 72.42 crore in the previous financial year. In the fiscal 2017-18, it had earned a profit of Rs 20.56 crore and Rs 254.08 crore in 2016-17.
UNI SW 2200
More News

Cyient Q1 profit up to 80 mn in Telangana

18 Jul 2019 | 11:30 PM

Hyderabad, Jul 18 (UNI) Engineering Services Company, Cyient on Thursday reported that its profit after tax was 905 mn in the first quarter ended June 30, 2019 as against 825 million in the corresponding quarter in previous year, a statement said.

see more..

Dumont to set up its ice cream unit in Hyderabad

18 Jul 2019 | 9:10 PM

Hyderabad, Jul 18 (UNI) Dumont, which manufactures frozen desserts, in its factory in Vijayawada in Andhra Pradesh, was planning to set up its another manufacturing facility in Hyderabad of Telangana with an estimated capital of Rs 15 crores within the next year or two, Managing Director Vivek Inampudi said on Thursday.

see more..

Sandra Wijnberg appointed as new independent Director to Cognizant Board

18 Jul 2019 | 7:18 PM

Hyderabad, Jul 18 (UNI) Cognizant, one of the World’s leading professional services companies, on Thursday announced that Ms Sandra Wijnberg has been appointed as a new Independent Director to its Board , with effect from July 16.

see more..
Sensex slumps 318 18 pts on negative global cues

Sensex slumps 318 18 pts on negative global cues

18 Jul 2019 | 7:17 PM

Mumbai, Jul 18 (UNI) The benchmark index of Bombay Stock Exchange (BSE) on Thursday declined by 318.

see more..
Rupee loses 11 paise against USD

Rupee loses 11 paise against USD

18 Jul 2019 | 7:15 PM

Mumbai, Jul 18 (UNI) The Rupee on Thursday lost another 11 paise to end negative at 68.

see more..