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Majesco makes strategic moves to accelerate cloud growth

Majesco has filed a registration statement relating to a rights offering to all shareholders in which it expects its parent company will invest an estimated $35 million that it raised through a Qualified Institutional Placement in India in February 2018. The funds will be used to support three strategic areas ... Read More »

Jet Airways gets DGCA nod for 5 months flight schedule

Jet Airways has received an approval from the Directorate General of Civil Aviation (DGCA) for the next five months flight schedule, after putting the cash-strapped airline on monthly scrutiny. The regulatory body satisfied with their performance last month and gave a five-month clearance from December onwards. Jet Airways is India’s ... Read More »

PFC to acquire entire government holding in REC

The government is likely to consider Power Finance Corporation’s (PFC) proposal to acquire entire government holding in state-owned Rural Electrification Corporation (REC), which will fetch the government around Rs 15,000 crore. The proposal is PFC will acquire 52.63 per cent government stake in REC, along with transfer of management control. ... Read More »

Relaxo Footwears gets NCLT approval for scheme of amalgamation

Relaxo Footwears has received an approval of the National Company Law Tribunal (NCLT), Principal Bench, New Delhi, to the Scheme of Amalgamation between Marvel Polymers, Relaxo Rubber and the company and their respective shareholders and creditors. Relaxo Footwears is engaged in the manufacturing and trading of footwear and related products. ... Read More »

SpiceJet to launch 8 new direct flights from Hyderabad

SpiceJet is planning to launch 8 new direct flights from Hyderabad connecting Kolkata, Pune and Coimbatore, starting from January 01, 2019. The airlines will also add another six new seasonal flights and frequencies from Bengaluru to Kochi, Port Blair as well as Bagdogra in the state of West Bengal. These ... Read More »