The current fiscal would see the country’s largest private airline, Jet Airways (India) merging with its wholly-owned subsidiary JetLite into Jet Airways. Naresh Goyal, Jet promoter is hopeful that the merger may break even by the end of this year.  

In the year 2007, Air Sahara was acquired by Jet Airways and had been renamed as JetLite. According to Sudheer Raghvan, chief commercial officer, Jet Airways, “We are not ruling out the merger but haven’t finalized anything.”

He further reported, “The Company is analyzing many options to break even by December end at any cost as aviation is our core business and we are in the industry to do business.”

A very well known financial newspaper had reported recently that EIH Chairman has informed that the company is in talks with various investors to sell its stakes, but nothing has been finalized as yet.

However, on Friday EIH denied any such announcement and labeled the newspaper’s report as “false”. In a statement issued by the company to stock exchange, it was said, “The Company is not in discussion with leading corporate houses and private equity firms to divest a strategic stake.”

EIH even claimed that the news published by the newspaper is absolutely baseless, untrue and mischievous.

Real estate major Ansal Properties and Infrastructure announced that it has decided to invest Rs 3,600 crore for developing a 270-acre IT Special Economic Zone and parks in India.

A statement issued by Ansal properties informed that this 270 acre SEZ would have an IT zone, residential zone and a recreational area.

New Delhi, Aug 21 : Hindustan Latex Limited (HLL), a mini ratna Company under the Ministry of Health and Family Welfare of the Government of India, today signed a memorandum of agreement with Infrastructure Leasing and Financial Services (IL&FS) for the development of its Integrated Medical Devices and Diagnostic Manufacturing Park, MediPark.

HLL also signed memorandum of agreement with NNE Pharmaplan for its Integrated Vaccine Complex, to be set up at Chengalpet near Chennai in Tamil Nadu.

The oil marketing companies (OMCs) on Tuesday were firmly instructed by the Petroleum and Natural Gas Ministry to clear the waiting list of new domestic LPG connections within 2 months (60 days) and restore the normal supply of all kinds of fuels across country.

Murli Deora, Minister of Petroleum and Natural Gas, while chairing the review meeting of the OMCs said, “The supply and distribution of essential petroleum products should be restored to the normal position. Adequate supplies must be ensured in the coming festive season.”

The Mumbai-based Petron Engineering Construction has informed that it has received a Letter of Intent from Utility Energytech and Engineers Pvt Ltd for a Rs 64-crore thermal power project in West Bengal.

The firm received the letter of intent from Utility Energytech and Engineers, an associate company of Reliance Energy Ltd, for erecting boilers for the 1,200 MW Ragunathpur Thermal Power Project.