Telecom operator Bharti Airtel on Thursday said it has allotted over 7.1 crore equity shares to internet major Google for Rs 734 apiece. The allotment is part of Google's commitment to invest USD 1 billion with Airtel, which included equity investment in the company worth USD 700 million, about Rs 5,224 crore, Airtel said in [...]
S&P Global Ratings on Thursday said liquidity stress has reduced for Vedanta Resources Ltd as the company has addressed a large part of its debt maturities for the ongoing financial year. The rating agency also said that while Vedanta Resources still has some funds to raise, it has sufficient cash at its cash-rich India operating [...]
Maharashtra government has decided to reduce the value added tax (VAT) on petrol and diesel by Rs 5 and Rs 3 per litre respectively, Chief Minister Eknath Shinde said here on Thursday. The decision, to be implemented from Thursday midnight, would entail a burden of Rs 6,000 crore on the state exchequer. It will benefit [...]
The Enforcement Directorate on Thursday said it has arrested four people, including two promoters of Chennai-based Surana group, in a money laundering case linked to a reported Rs 3,986 crore worth bank loan fraud. Dinesh Chand Surana and Vijay Raj Surana, both managing directors cum promoters of Surana Industries Limited, Surana Power Ltd and Surana [...]
Private equity investments in proptech firms rose 35 per cent to USD 741 million last year as investors sought to tap huge opportunities amid rising use of technology in the realty sector, Housing.com said. Proptech firms that are providing solution in sales and marketing, and construction management got 69 per cent of the total funds. [...]
Infosys on Wednesday said it will acquire Denmark-based BASE life science for about 110 million euros (Rs 875 crore) in an all-cash deal. The acquisition will deepen Infosys' expertise in life sciences domain as well as strengthen its footprint across Europe. "This acquisition augments Infosys' deep life sciences expertise, and expands our footprint further in [...]
Chinese phone maker Oppo's India unit has been slapped with a notice for alleged Rs 4,389 crore import duty evasion, the Finance Ministry said on Wednesday. A show-cause notice has been slapped on Oppo India on July 8 after recovery of documents during searches on its premises that indicated wilful misdeclaration in the description of [...]
Auto components major Bosch Ltd will invest over Rs 200 crore in India in the next five years in advanced automotive technologies and digital mobility space, its Managing Director Soumitra Bhattacharya has said. The company is also "quietly and cautiously optimistic about having a double-digit growth in FY2022-23 over the previous fiscal year", Bhattacharya, who [...]
The Madras High Court has declined to restrain Sun Pharmaceuticals Industries Limited in Nandanam here from using the word 'Respules' in its business operations. Justice Senthilkumar Ramamoorthy gave an interim ruling to this effect, while disposing of three interlocutory applications arising out of a civil suit from Cipla Limited in Alapakkam here and in Mumbai, [...]
The Delhi High Court has restrained the Centre from taking further steps concerning its order imposing a penalty of over Rs 66 crore on National Thermal Power Corporation (NTPC) for allegedly failing to comply with the “production schedule” for a coal mine in Chhattisgarh for two years. Justice Yashwant Varma issued notice on the petition [...]
