IT solutions provider Cyient will acquire Portugal-based wireless engineering services firm Celfinet for 41 million euro (about Rs 340 crore) in an all-cash deal, the Hyderabad-headquartered company said on Monday. With this acquisition, Cyient aims to strengthen its wireless engineering practice to support communication service providers (CSPs) and enterprises in deploying their networks at scale. [...]
Drug major Sun Pharma plans to increase its field force in the domestic market by 10 per cent in the current fiscal in order to drive twin objectives of brand focus and geographical expansion, according to a senior company official. The Mumbai-based drug major, which is the fourth largest specialty generic drug maker in the [...]
Tata Motors is gearing up to strengthen its R&D with fresh hiring as well as upskilling of the current employees this fiscal year in order to scale up capabilities across various business verticals, including the electric vehicle segment, as per a top company official. In the EV space, the company is looking to enhance its expertise [...]
The government on Friday said it has issued show cause notices to 16 companies, including NTPC, JSW Steel, Hindalco, Vedanta and Nalco, for delays in operationalisation of coal blocks. Show cause notices are issued from time to time to companies which do not adhere to the timelines prescribed in their agreements for timely operationalisation of [...]
Sebi on Friday revoked the securities market ban imposed on Abhay Bhutada, Managing Director of Poonawalla Finance, in a case pertaining to alleged insider trading activities in the shares of Magma Fincorp, which is now known as Poonawalla Fincorp. After conducting a detailed investigation in the matter, Sebi found that "Abhay Bhutada had not communicated [...]
Essar Power Ltd on Friday said it has agreed to sell one of its two electricity transmission lines to Adani Transmission Ltd for Rs 1,913 crore. The sale is a part of deleveraging strategy following which Essar has repaid over Rs 1.8 lakh crore to banks and financial institutions in the last three years - [...]
Cryptocurrency investing application provider CoinSwitch has unveiled Crypto Rupee Index CRE8, to measure the performance of the Indian Rupee-based crypto market, the company said on Friday. The Crypto Rupee Index tracks the performance of crypto assets that represent over 85 per cent of the total market capitalisation of cryptocurrencies traded in Rupee, a press release [...]
The National Company Law Appellate Tribunal has directed the new board of the debt-ridden IL&FS Group to distribute Rs 16,361 crore of cash and InvIT units available across the Group to its creditors on pro-rata basis. The interim distribution award of Rs 16,361 crore includes Rs 11,296 crore in cash and Rs 5,065 crore in [...]
MG Motor India and lubricant brad Castrol India are set to collaborate with Jio-bp to explore mobility solutions for electric cars, the automaker said in a statement on Thursday. Under the partnership, Jio-bp, MG Motor and Castrol will explore setting up four-wheeler EV charging infrastructure and expand Castrol’s existing auto service network to cater to [...]
The Securities Appellate Tribunal (SAT) has given more time to former NSE chief Chitra Ramkrishna for depositing an amount of Rs 2 crore in a case pertaining to governance lapses at the bourse. "The period to deposit the money by our order dated 11th April, 2022 is extended for a further period of four weeks," [...]
