Vascon Engineers Ltd on Thursday said it has bagged Rs 158 crore contract from Uttar Pradesh Public Works Department (UP PWD). The work has to be completed within 18 months from the date of receipt of the letter of acceptance, according to a company filing. In the filing, Vascon Engineers said, "It has received a [...]
Shriram Life Insurance, which already nets 44 per cent of its premium from rural markets, is planning to maximize rural penetration and hopes to grow its assets under management by 45 per cent to Rs 13,000 crore by FY25. Started in 2005, Shriram Life began as a joint venture between the Shriram Group and the [...]
No-frills airline IndiGo is expecting to fly 100-million passengers and is planning to have 350 aircraft in its fleet in the next fiscal, according to a presentation by the airline at the analysts/investors meet on Thursday. At the same time, the airline is looking to end the current fiscal with around 306 planes in the [...]
Canara Bank on Thursday said it has sold its stake in Russian joint venture Commercial Indo Bank LLC (CIBL) to the other venture partner State Bank of India (SBI) for about Rs 121.29 crore. CIBL, incorporated in 2003, is a joint venture in Russia between SBI (60 per cent) and Canara Bank (40 per cent). [...]
Patel Engineering Ltd has emerged as the successful bidder for Dibang Multipurpose Project worth Rs 3,637.12 crore in Arunachal Pradesh, which will be undertaken in a joint venture. The company's share in this order is Rs 1,818.56 crore, according to a regulatory filing. "Patel Engineering Ltd (PEL) has emerged as L1 bidder in financial bid [...]
Fair-trade regulator Competition Commission of India (CCI) on Thursday said it has given approval under the green channel route to Abu Dhabi Investment Authority for acquiring a stake in Lenskart Solutions Pvt Ltd (LSPL). Under the green channel route, wherein a transaction, which does not raise any risk of an appreciable adverse effect on competition, [...]
Markets regulator Sebi has settled with Morgan Stanley France SA a case of an alleged violation of securities norms after payment of a settlement amount. The matter pertains to certain trades in long-dated Nifty options between Reliance Strategic Investments Ltd and Morgan Stanley France SA done back in 2017. The case has been settled upon [...]
IT services and consulting firm Accenture will lay off 2.5 per cent or 19,000 employees over a period of the next one and half years, the company said in a regulatory filing. Accenture currently employs over 7 lakh people and is estimated to have the largest employee base of 3 lakh people in India. "While [...]
Anil Agarwal-led Vedanta Ltd on Thursday said its board will next week consider and approve the fifth interim dividend for FY'23. The announcement comes days after Vedanta Resources which is a majority shareholder of Vedanta Ltd stating that it has enough means to meet debt repayment liabilities in the coming quarters as it looked to [...]
Srinivasan Services Trust, the social arm of automobile major TVS Motor Company and auto-component maker Sundaram-Clayton Ltd, has invested more than Rs 21 crore over the last six years towards water conservation efforts in Tamil Nadu and Maharashtra, the company said on Thursday. Srinivasan Services Trust has also planned to invest over Rs 10 crore [...]
