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Biz EOD: Govt to sell 100% stake in AI; IndiGo Q3 profit surges; Zomato, Swiggy raise delivery fee

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twitter-logo BusinessToday.In        Last Updated: January 28, 2020  | 21:27 IST
Biz EOD: Govt to sell 100% stake in AI; IndiGo Q3 profit surges; Zomato, Swiggy raise delivery fee
Top stories from the world of business and economy.

To make debt-ridden Air India more attractive for buyers, the government on Monday announced it would give up 100 per cent stake in the national carrier. InterGlobe Aviation reported over two-fold jump in net profit at Rs 496 crore for the third quarter ended December 31, 2019. Food delivery platforms Zomato and Swiggy have brought in considerable changes in their pricing, leading consumers to pay more for their order. Read for more top stories from the world of business and economy:

1. Air India sale: Here are the main conditions set by Modi govt

As a part of disinvestment, 100% equity stake in Air India with its 100% equity stake in AIXL and AI's 50% equity stake in AISATS is being sold by the Centre.

2. IndiGo Q3 profit zooms two-fold to Rs 496 crore, revenue spikes 25%

As of December 31, 2019, lndiGo's total debt stood at Rs 21,555.3 crore compared to Rs 2,475.9 crore in the year ago period, registering a YoY growth of 770.6 per cent.

3. HDFC Q3 profit jumps four-fold to Rs 8,372 crore; to raise Rs 45,000 crore via NCDs

HDFC got a one-time gain of Rs 9,019.8 crore from merger of Gruh Finance, an associate, with Bandhan Bank.

4. Zomato, Swiggy raise delivery fee, subscription rates, cut discounts

Zomato has raised prices of its Gold membership, while Swiggy has increased the rate of its loyalty programme, Super.

5. Air India sale: Subramanian Swamy threatens to drag Modi govt to court; calls the move 'anti-national'

Modi government on Monday announced sale of 100 per cent stake in debt-laden Air India. It also issued the preliminary bid document for the strategic divestment.

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