ICICI Prudential Life Insurance is "very confident of crossing doubling the VNB target" by March on the back of a record jump in its high-margin protection business share and the resultant highest-ever margin it has booked in the just-concluded December quarter. The company reported a 23.2 per cent growth in the value of the new [...]
Microsoft will lay off 10,000 workers, about five per cent of its total workforce, its CEO Satya Nadella announced on Wednesday, terming it a hard choice that the tech giant had to make to remain a "consequential company" amid global economic uncertainties. Microsoft is the latest company after Facebook and Amazon to cut jobs as [...]
JSW Energy on Thursday said that its arm JSW Renew Energy Five has bagged two battery energy storage system projects totalling 500 MW/ 1,000 MW from Solar Energy Corporation of India (SECI). The company will be entitled to receive a fixed capacity charge of Rs 10.8 lakh per MW per month for twelve years, a [...]
Realty firm Mahindra Lifespace Developers Ltd on Wednesday said it has entered into society redevelopment business and has bagged two projects in Mumbai with a revenue potential of Rs 500 crore. In a regulatory filing, the company informed that it has been "selected as the preferred partner to redevelop two adjacent residential societies in Santacruz [...]
The National Company Law Tribunal (NCLT) on Wednesday asked the lenders to delay the second auction for Reliance Capital, which was scheduled for Thursday, till January 23 as it could not complete hearing arguments from both sides. Torrent Investment, the winning bidder of the first round of auction of Anil Ambani-promoted Reliance Capital, had moved [...]
Anil Agarwal-promoted Vedanta on Wednesday said it will acquire bankrupt thermal power company Meenakshi Energy for Rs 1,440 crore through an insolvency process. Vedanta which made the highest bid for the thermal power company emerged as the successful bidder. "Post submission of bid for Meenakshi Energy Limited under Corporate Insolvency Resolution Process (CIRP) under IBC, [...]
The Delhi Police has busted a gang, arresting four cheats who duped more than 1,800 people on the pretext of offering them life certificate for pensioners, officials said on Wednesday. The accused were identified as Amit Khosa, Kanav Kapoor, Binoy Sarkar and Shankar Mondal, they said. According to police, the matter came to light after [...]
West Bengal entrepreneurs from the steel, snacks and services sector showed interest in investing in Uttar Pradesh and signed Memorandums of Understanding (MoUs) for projects worth around Rs 7,000 crore, a senior UP minister said here. The projects are estimated to provide employment opportunities for 14,000 people in the north Indian state which held a [...]
Equity benchmarks declined in initial trade on Thursday, mirroring a weak trend in the US markets and fresh foreign fund outflows. The 30-share BSE Sensex declined 215.79 points to 60,829.95. The broader NSE Nifty dipped 64.10 points to 18,101.25. From the Sensex pack, Kotak Mahindra Bank, Titan, Bajaj Finserv, UltraTech Cement, Infosys, Hindustan Unilever, Larsen [...]
The Competition Commission of India (CCI) on Wednesday told the Supreme Court the issue pertaining to alleged abuse of dominant position by Google in multiple markets in the Android mobile device ecosystem is of "national importance" and the world is looking at how India is dealing with the matter. A bench of Chief Justice DY [...]
