New Delhi, Feb 21 (PTI) SBI Life Insurance Company (SBI Life) on Monday said its promoter BNP Paribas Cardif, holding 0.2 per cent share capital, has requested to be reclassified as a public shareholder. "The company has received request from BNP Paribas Cardif, one of the promoters of the company, holding 0.20 per cent of [...]
New Delhi, Feb 21 (PTI) Adani Group and Ballard Power Systems have joined hands to evaluate a joint investment in hydrogen fuel cells manufacturing in India. Under the MoU, both parties will examine various options to cooperate, including potential collaboration for fuel cell manufacturing in India, Adani group said in a statement. Hydrogen is increasingly [...]
New Delhi, Feb 21 (PTI) IPO-bound Life Insurance Corporation (LIC) on Monday said it would like to retain some stake in IDBI Bank so that the insurer continues to reap the benefits of the bancassurance channel. IDBI Bank became a subsidiary of LIC with effect from January 21, 2019, following the acquisition of an additional [...]
New Delhi, Feb 21 (PTI) BNP Paribas Arbitrage on Monday bought shares of L&T Finance Holdings worth nearly Rs 413 crore through an open market transaction. As per block deal data on BSE, over 5.78 crore shares were purchased at an average price of Rs 71.35 apiece. This took the total deal value to Rs [...]
New Delhi, Feb 21 (PTI) LIC Chairman M R Kumar on Monday said profits of insurance companies cannot be compared with that of manufacturing companies as dynamics of the businesses are different. "Profit of insurance companies compared to other companies like manufacturing are different. In terms of surplus generation, more than Rs 50,000 crore (has [...]
New Delhi, Feb 21 (PTI) FMCG major HUL is working to create an ‘intelligent enterprise’, moving away from the traditional linear value chain to a non-linear ecosystem to stay abreast of the changing needs, said Chairman and Managing Director Sanjiv Mehta on Monday. While addressing an AIMA event, he also welcomed the government steps to [...]
Mumbai, Feb 21 (PTI) The IPO-bound national insurer LIC is not only the largest holder of government debt -- owning 19 per cent of the G-secs -- but also the single largest owner of equities, the largest fund manger as well as holder of household savings, dwarfing even SBI deposits, as per a report. Holding [...]
New Delhi, Feb 21 (PTI) CG Power and Industrial Solutions on Monday said that the Bombay High Court has quashed an assessment order of Rs 684.08 crore against the company issued by the I-T department. The court quashed the tax demand notice during a hearing on Monday, a regulatory filing by the company stated. "Further [...]
New Delhi, Feb 21 (PTI) Novelis Inc, a subsidiary of Hindalco Industries, will build a USD 50 million (around Rs 373 crore) recycling and casting centre in South Korea to expand low carbon aluminium production. Fully funded by Novelis, the Ulsan Recycling Centre will have an annual casting capacity of 100 kilotonne of low-carbon sheet [...]
New Delhi, Feb 21 (PTI) HFCL Limited on Monday announced it has joined the O-RAN Alliance, a global community of mobile network operators, vendors, research and academic institutions operating in the Radio Access Network (RAN) industry. As an O-RAN Alliance member, HFCL would focus on contributing to standards that ensure a true open and multi-vendor [...]
