Airtel has raised $1 billion, or around Rs 6,400 crore, by selling bonds to global investors. Those bonds have been priced at 210 basis points over and above the 10-year US Treasury bond yields, which would offer a final rate of 4.37 per cent. Last year the company obtained a spread or gap of 270 bps when they had sold 10-year bonds offering 5.35 per cent.
Bayer CropScience announced a buyback proposal to purchase 12.65 lakh shares at a price of Rs. 4,000 a share aggregating to Rs. 506 crore.
Maruti Suzuki has introduced its Celerio hatchback with a diesel engine hoping that the car’s fuel economy will draw new buyers. The Celerio has a two-cylinder 793-cubic centimeter diesel engine. Maruti claims the car can travel up to 27.62 kilometers (17.16 miles) to a liter of diesel, which it says is the highest mileage for any car sold in India. The company has invested more than 9 billion rupees ($141.3 million) to develop the new engine, sourcing 97% of its parts from local suppliers.
Tata Teleservices’ woes continued with the company reporting a Rs 3,846-crore loss in 2014-15. Tata Teleservices’ revenues increased marginally to Rs 10,944 crore from Rs 10,452 crore in 2013-14, when the Tata group pumped in Rs 2,500 crore through compulsorily convertible preference shares. In 2013-14, the company made a record loss of Rs 6,166 crore, with its net worth completely eroded.
