Reliance Projects and Property Management Services, a subsidiary of telecom major Jio, has deposited Rs 3,720 crore in an SBI escrow account to acquire mobile tower and fibre assets of Reliance Infratel. The National Company Law Tribunal (NCLT) gave approval to Jio for the acquisition of Reliance Infratel (RITL) in November. "Reliance Infratel transaction is [...]
Rekindled covid fears have started haunting D-Street. The Sensex tumbled 885 points in the past two days and is at 60740 levels. Similarly, the Nifty 50 shed 330 points and is quoting at 18090 levels. While many other stocks were coloured in red, Pharma stocks climbed for the third day in a row, owing to [...]
Torrent Group on Wednesday emerged as the highest bidder for debt-ridden Reliance Capital in the auction conducted as part of its resolution process. Ahmedabad-based Torrent Group submitted a bid of Rs 8,640 crore for acquiring the NBFC firm set up by the Anil Ambani Group, sources said. Hinduja Group was the second highest bidder, they [...]
Shares of Sula Vineyards on Thursday made a tepid market debut, listing with a premium of just over 1 per cent on the NSE, against the issue price of Rs 357. The stock listed at Rs 358, marginally higher by 0.27 per cent from the issue price on the BSE. It later hit a high [...]
Adani Solar on Wednesday said it has begun manufacturing of large sized monocrystalline silicon ingots in India. The monocrystalline ingots will drive indigenisation to produce renewable electricity from silicon-based PV (photovoltaic) modules with efficiencies ranging from 21 per cent to 24 per cent, the company said in a statement. "We are delighted to become India's [...]
Kalpataru Power Transmission Ltd (KPTL) on Wednesday said the National Company Law Tribunal has approved the merger of JMC Projects (India) Ltd with the firm, making it one of the country's largest listed engineering and construction companies. The combined entity will have a significant presence in India and projects in 67 countries, with offerings in [...]
In its initial findings, the UK's Trade Remedies Authority (TRA) has proposed that a countervailing measure on imports of stainless steel bars and rods from India be revoked. Countervailing measures are put in place to offset imports being sold at unfair prices due to government subsidies in their country of origin. The TRA set out [...]
Max Ventures Investment Holdings, a promoter of financial services firm Max Financial Services, on Wednesday offloaded 58.85 lakh shares in the company for Rs 400 crore through an open market transaction. According to the bulk deal data available with the National Stock Exchange (NSE), Max Ventures Investment Holdings sold 58,85,000 shares (1.7 per cent) of [...]
Global telecom industry body GSM Association has urged the Department of Telecom to earmark 6000 megahertz spectrum frequency band for 5G services to support the expansion of services in future. The government has auctioned spectrum frequency in the 3300-3670 Mhz band, known as mid-band, which was identified as most suitable band for 5G. The GSMA [...]
The Jharkhand Assembly on Wednesday passed a Rs 8,533.79-crore supplementary budget for the current fiscal by voice vote. This is the second estimates with the House on August 1 passing a Rs 3,436.56-crore supplementary budget for the 2022-23 fiscal. Finance Minister Rameshwar Oraon, who had tabled the supplementary budget on Tuesday, said the government has [...]
