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In 1937, a hydrogen-powered German airship flying into New Jersey caught fire and crashed, killing 35 passengers on board. It was sort of a man-made disaster as some 100 people were loaded on to a balloon filled with the most flammable material in the universe. The airship was named Hindenburg. Eight decades later, in 2017, [...]

Hospitality and travel-tech firm OYO estimates its revenue in 2022-23 to be USD 751 million on the back of which it expects to post its first operating profit in a full year, company Founder and Group CEO Ritesh Agarwal has told its employees. At an employees townhall held this week, Agarwal is understood to have [...]

Aviation regulator DGCA on Friday imposed a Rs 10 lakh fine on Go First for the incident wherein 55 passengers were left behind in a passenger coach at Bangalore airport on January 9. The Directorate General of Civil Aviation (DGCA) had issued a show-cause notice to the airline following the incident. "Perusal of (the) reply [...]

State-owned CIL intends to produce sand using overburden rocks lying at its various coal mines and the operation of five such sand plants is likely to commence by next year, the government said on Friday. Under the 'overburden (OB) rocks-to-manufactured sand' initiative, Coal India Ltd (CIL) facilitates processing of waste overburden at its open cast [...]

Realty major DLF Ltd plans to launch a luxury housing project in Gurugram next month with an estimated sales revenue of around Rs 7,500 crore as it seeks to tap strong demand for high-end apartments. The company plans to develop around 1,100 apartments in this residential project, DLF Group Executive Director and Chief Business Officer Aakash [...]

Essar group-promoted Vertex Hydrogen has signed a deal for the sale of over 200 megawatts of low-carbon hydrogen to Northwich-based Tata Chemicals Europe (TCE), the firm said Thursday. "Under the new offtake agreement, Vertex will supply TCE with hydrogen as the manufacturer continues to decarbonise its operations in the UK with a target of achieving [...]

The Adani Group on Thursday said it is examining legal options to take "punitive action" against Hindenburg Research for its "reckless" attempt to sabotage a mega share sale at the conglomerate's flagship firm - a statement that the US activist investor responded by saying it stands by its report that alleged "brazen" market manipulation and [...]

Debt-ridden Vodafone Idea's board will meet on Tuesday to discuss a proposal to issue Rs 1,600 crore debentures to mobile tower vendor ATC Telecom Infrastructure. Vodafone Idea (VIL) and ATC had agreed to extend the last date to issue optionally convertible debentures (OCD) till February 28 after the shareholder's approval to issue the debentures lapsed [...]

The CBI has filed an FIR against telecom infrastructure major GTL for allegedly diverting a substantial portion of a Rs 4,760 crore loan availed from a consortium of banks led by IDBI Bank, officials said. The agency has booked the company, unidentified directors, public officials and vendors under IPC sections related to criminal conspiracy, cheating [...]

Air India has offered around 98 crore shares of the company to its permanent employees as part of a stock option scheme. The shares are also being offered to the permanent staff of Air India Express as part of the Employees' Share Benefit (ESB) Scheme 2022, according to a document. The Tata group took over [...]

Asia's richest man Gautam Adani's group is eyeing petrochemical and mining projects in Azerbaijan as the ports-to-energy conglomerate looks to expand the business beyond Indian shores. Adani met Azerbaijan President Ilham Aliyev in Davos last week, according to a statement from the office of the President of Azerbaijan. "During the conversation, the parties discussed Azerbaijan's [...]

Well-known US activist investor Hindenburg Research has alleged that Adani Group was "engaged in a brazen stock manipulation and accounting fraud", a charge the conglomerate described as malicious, unsubstantiated, one-sided, and having done with malafide intention to ruin its share-sale. Hindenburg, a US-based investment research firm that specialises in activist short-selling, said its two-year investigation [...]

Online travel service provider, Easy Trip Planners Ltd on Wednesday said it will acquire a 55 per cent stake in Glegoo Innovations Pvt Ltd, an online travel and tours firm, for Rs 3 crore. The company signed a share purchase agreement with Glegoo Innovations Pvt Ltd on January 24, 2023, Easy Trip Planners, which operates [...]

Sebi has ordered the attachment of bank and demat accounts of Shivinder Mohan Singh and four entities to recover Rs 32.10 crore in a matter related to fund diversion case of Religare Finvest. Religare Finvest Ltd (RFL) is a subsidiary of Religare Enterprises Ltd (REL). The recovery proceedings against these entities -- Shivinder Mohan Singh, [...]

Sebi is considering filing an appeal in the Supreme Court against an order by the Securities Appellate Tribunal that set aside the capital markets regulator's disgorgement directive in the NSE co-location case. The Securities Appellate Tribunal (SAT) on Monday set aside Sebi's order for disgorging profit worth Rs 625 crore in the co-location case but [...]

The work on setting up of a scrap-based steel plant by Tata Steel kicked off on Tuesday in Ludhiana, Chief Minister Bhagwant Mann said. "This is just the beginning as we deliver what we say and the day is not far when we will make Punjab a frontrunner state in the industrial growth across the [...]

Indian Oil Corporation has lined up investments of over Rs 2,200 crore in Tamil Nadu in the next two years towards taking up major grassroots and expansion projects in the state, a senior company official said on Tuesday. The projects include 'grass-roots terminal' at Asanur and Vallur, 'captive petroleum' project, oil and lubricant-LPG jetty at [...]

Akasa Air on Tuesday announced it will operate daily flights between Hyderabad and Bengaluru and between Hyderabad and Goa starting from January 25. Two additional Hyderabad-Bengaluru frequencies will be added starting February 15, the airline said. Akasa Air Co-Founder and Chief Commercial Officer Praveen Iyer said, "Commencing operations from Hyderabad, our 13th destination with daily [...]

Full service carrier Vistara will continue to expand and expects to have a total of 70 planes by mid-2024, its chief Vinod Kannan said on Tuesday. The airline, a joint venture between Tata Sons and Singapore Airlines, reported an operating profit for the first time since inception in the three months ended December 2022. "The [...]

Bharat Petroleum Corporation Ltd (BPCL) will set up 1 gigawatt (GW) of renewable energy capacity in Rajasthan as the nation's second-largest state oil refiner pivots its path to achieving a net zero emission target by 2040. In a statement, BPCL said it has signed a memorandum of understanding (MoU) with the government of Rajasthan for [...]

Sebi on Monday slapped a penalty of Rs 30 lakh on Wealthit Global and its proprietor Mohit Manghnani for violating regulatory norms. In addition, the two have been restrained from the securities markets for a period of five years. Wealthit Global is a Sebi-registered Investment Adviser. The order came after the regulator had conducted an [...]

Shares of UltraTech Cement on Monday declined by nearly 5 per cent after the firm reported a decline in its consolidated net profit for the third quarter. The stock of the largest cement manufacturer fell 4.62 per cent to settle at Rs 6,846.90 apiece on the BSE. On the NSE, it declined by 4.42 per [...]

Full service carrier Vistara on Monday said it reported a profit for the first time since inception in the three months ended December 2022. Without disclosing the exact profit figure in the December quarter, the airline also said it crossed the USD 1 billion revenue mark and remained EBITDA positive in the current fiscal year. [...]

Sebi has asked B2B payments and services provider PayMate India to refile the documents for the initial public offering with certain updates. PayMate India had filed the Draft Red Herring Prospectus (DRHP) for a Rs 1,500 crore-IPO with the Securities and Exchange Board of India (Sebi) in May 2022. The proposed Initial Public Offering (IPO) [...]

Coal India arm MCL is in the process of diversifying into power generation and will set up a coal-based plant entailing an investment of around Rs 12,000 crore in Odisha, its chairman-cum-managing director O P Singh said. Mahanadi Coalfields Ltd (MCL) also has plans to diversify into aluminium business. "We are into process of diversifying [...]

Tata Motors on Monday said it has partnered with ICICI Bank to offer financing solutions to its authorised passenger electric vehicle dealers. Under the partnership, ICICI Bank will provide inventory funding to the authorised passenger EV dealers in addition to the bank's funding to dealers for diesel and petrol models, Tata Motors said in a [...]

Sterlite Power on Monday said it has bagged orders worth Rs 3,800 crore in the first three quarters of this fiscal, which is 90 per cent higher than a year ago. The orders were bagged by the ‘solutions’ business unit in the domestic and international markets during the first three quarters FY23, showing a growth [...]

India Grid Trust (IndiGrid) will acquire a 100 per equity stake in Khargone Transmission at an enterprise value of about Rs 1,497.5 crore. The acquisition will be for a cash consideration of an enterprise value not exceeding Rs 1,497. 5 crore, according to a BSE filing. IndiGrid signed a share purchase agreement on January 21, [...]

Hindustan Petroleum Corporation Ltd (HPCL) will complete expansion of its Vizag oil refinery in Andhra Pradesh to 15 million tonne per annum by June, its Chairman Pushp Joshi said on Sunday. HPCL is expanding the 8.33 million tonne per annum (MTPA) refinery and building a new one at Barmer in Rajasthan to bridge the gap [...]

The acquisition of IDFC Asset Management Company by the Bandhan Financial Holdings-led consortium is likely to be concluded this month with the payment of Rs 4,500 crore, an official said on Sunday. Re-branding of the company and mutual fund as Bandhan Asset Management Company Ltd and Bandhan Mutual Fund is also expected within January, he [...]

Ceramic materials and 3D printer-maker Lithoz GmbH has signed a sales partnership agreement with Murugappa Group company Wendt (India) Ltd for strengthening its operations in the country, the company said on Saturday. The agreement would enable the two companies further expand and develop their businesses. "With Lithoz's bases in Austria, the USA and China, this [...]

Billionaire Gautam Adani's group plans to spin off businesses like hydrogen, airports and data centre between 2025 and 2028 after they achieve a certain investment profile, it's Chief Financial Officer Jugeshinder Singh said. Adani Enterprises Ltd, which is looking to raise Rs 20,000 crore in a follow-on share sale, is the business incubator for the [...]

Canara Bank on Friday said it plans to sell its stake in Russian joint venture Commercial Indo Bank LLC (CIBL) to the other venture partner State Bank of India (SBI) for about Rs 114 crore. CIBL, incorporated in 2003, is a joint venture in Russia between SBI (60 per cent) and Canara Bank (40 per [...]

Google will lay off 12,000 jobs across the globe, its CEO Sundar Pichai announced on Friday, becoming the latest tech giant to retrench staff en mass amid the global economic downturn. In an email to employees, the Indian-origin CEO said:"I have some difficult news to share. We’ve decided to reduce our workforce by approximately 12,000 [...]

Online food delivery platform Swiggy on Friday laid off 380 employees as part of a "restructuring exercise" citing challenging macroeconomic conditions, with its CEO Sriharsha Majety saying that overhiring was a case of "poor judgement" where he should have done better. In an internal email, Majety, Co-Founder and CEO, also apologised to the affected employees [...]

With the Supreme Court turning down Google's plea for a stay on the CCI order, the tech giant on Friday said it is reviewing the details of the decision which is limited to interim relief and did not decide the merits of the appeal. The company said it remains committed to users and partners and [...]

Moody's on Friday affirmed long-term deposit rating of State Bank of India (SBI) and upgraded it for Punjab National Bank, Canara Bank and Bank of Baroda on improving credit profile. The outlooks on long-term ratings of all the four banks remain stable, Moody's Investors Service said in a statement. Moody's has affirmed the Baa3 long-term local [...]

Shares of Hindustan Unilever Ltd declined over 4 per cent in morning trade on Friday as investors preferred to desert the counter amid concerns over increase in royalty and central services arrangement fee to its parent Unilever group. The stock fell 4.15 per cent to Rs 2,540.05 apiece on the BSE. At the NSE, it [...]

Adani Enterprises, which is launching India Inc's second-largest follow-on public offer worth Rs 20,000 crore next week, on Thursday said it is planning to enter the water segment as this is a key element of its core business of infrastructure. The group is into the entire gamut of infrastructure -- being its ports, airports, roads, [...]

IT solutions major Rashi Peripherals has filed preliminary papers with capital markets regulator Sebi to raise Rs 750 crore through an Initial Public Offering (IPO). The public issue is completely fresh issue of shares with no offer-for-sale component, according to the Draft Red Herring Prospectus (DRHP). The company may consider a private placement of equity [...]

Wipro GE HealthCare on Thursday said it has appointed Chaitanya Sarawate as Managing Director of the company. He has also been designated as the President & CEO of GE HealthCare South Asia. Sarawate succeeds Shravan Subramanyam, who is leaving to pursue an opportunity outside the company, the company said in a statement. In his new [...]

Mahindra & Mahindra on Thursday said the Maharashtra government has approved its proposal to set up a Rs 10,000-crore electric vehicle plant in Pune under the state's industrial promotion scheme for EVs. The two sides signed an agreement to this effect at the World Economic Forum in Davos on Wednesday, M&M Ltd said in a [...]

State-owned engineering firm Bharat Heavy Electricals Ltd (BHEL) on Thursday said it has bagged an order worth Rs 300 crore to renovate and modernise (R&M) steam turbines at Ukai thermal power station in Gujarat. Valued at about Rs 300 crore, the order for renovation and modernisation of 200 MW Unit-3 and 210 MW Unit-5, has [...]

Toyota Kirloskar Motor on Thursday said Manasi Tata, daughter of late Vikram Kirloskar, will take over as its new Vice Chairperson with immediate effect. She will also take over as the Vice Chairperson of Toyota Kirloskar Auto parts (TKAP), Toyota Kirloskar Motor (TKM) said in a statement. "The resolution, passed in its board meeting, comes [...]

Vedanta's Cairn Oil & Gas on Thursday announced the appointment of Nick Walker as the new chief executive officer (CEO) of the company. In a statement, the company said the appointment is effective January 5. "Before this appointment, Walker was president and chief executive officer at Lundin Energy, one of the leading European independent E&P [...]

Walmart-owned digital payments app Phonepe on Thursday said it has raised USD 350 million at a valuation of USD 12 billion in a funding round led by private equity firm General Atlantic. "Marquee Global and Indian investors are also participating in the round," PhonePe said in a statement adding the investment marks the first tranche [...]

Maruti Suzuki India on Thursday said it has commenced exports of mid-sized sports utility vehicle Grand Vitara, with the first shipment on its way to Latin America. The country's leading carmaker and exporter aims to export the model to more than 60 countries across Latin America, Africa, Middle East, ASEAN and neighboring regions. "Supporting Government's [...]

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, [...]

Jubilant Food Works Ltd, a food services player, has opened its first restaurant of the American fried chicken brand, Popeyes in the city, a top official of the company said on Wednesday. The company inaugurated its first restaurant in Bengaluru, which was followed by rapid expansion to 12 restaurants across the city in less than [...]

Dr Reddy's Laboratories on Wednesday said it has reduced the price of its cardiovascular drug Cidmus. The drug comprises combination of sacubitril and valsartan and is indicated for heart failure patients. The company's Cidmus tablets are available in three strengths – 50mg, 100mg and 200mg, to be taken twice a day. "Following the price reduction, [...]

Steel manufacturer Tata Steel has set up a Centre for Innovation in Mobility at the Indian Institute of Technology, Madras Research Park here, to develop application technologies for current and future mobility platforms, the company said on Wednesday. The Centre would work closely with academia and the mobility industry. It has facilities for Computer Aided [...]

Adani Green Energy arm Adani Renewable Energy Holding Two Ltd will acquire 50 per cent equity in Essel Saurya Urja Company of Rajasthan Ltd from Essel Infraprojects for Rs 15 crore. Adani Renewable Energy Holding Two Ltd (ESUCRL) has entered into a binding term sheet with Essel Infraprojects Ltd on January 17, 2023 to this [...]

360 ONE (earlier known as IIFL Wealth & Asset Management) on Wednesday said it has completed the acquisition of controlling stake in early-stage venture investments platform Mumbai Angels. Mumbai Angels, one of the leading players in the early-stage investment space, will now be looking at deals with a deeper penetration in the early-stage startup pool, [...]

Automobile after-sales service startup GoMechanic co-founder Amit Bhasin on Wednesday admitted to errors in financial reporting, following which a forensic audit has been ordered and a business restructuring undertaken which will see 70 per cent of the 1,000-odd workforce being laid off. Nearly two years after it raised a mammoth USD 42 million in funding, [...]

Homegrown Salasar Techno Engineering Ltd (STEL) on Wednesday said it has secured a Rs 143 crore contract from the Nepal government. "The order is for procurement of materials, associated accessories and necessary installation services including design and commissioning of 33/11 KV substations and 33 KV, 11 KV, 400 V lines and distribution systems networks," the [...]

Heavy commercial vehicle maker Ashok Leyland has bagged an order from the Sri Lankan Transport Board to supply 500 buses. Sri Lanka Transport Board is the state owned single largest bus transport provider with 110 depots throughout the island nation and operates buses in city routes, hilly and rural routes and also in long distance [...]

Mumbai, Jan 17 (PTI) Torrent Investment on Tuesday urged the National Company Law Tribunal (NCLT) to quash the lenders' plans to hold a fresh auction for the takeover of the Anil Ambani-promoted Reliance Capital. Darius Khambata, representing Torrent Investments, in a plea said the Committee of Creditors have been saying that the 'challenge mechanism' or [...]

Punjab Agriculture Minister Kuldeep Singh Dhaliwal on Tuesday said he has constituted an 11-member committee of agriculture experts for framing a new agricultural policy. Dhaliwal said the new agricultural policy will be ready by March 31. The Punjab government has been making continuous efforts to improve welfare of the farmers and the agricultural system of [...]

The Himachal Pradesh State Pollution Control Board (HPSPCB) has issued show cause notices under the Air (Prevention & Control of Pollution) Act, 1981 to Ultratech Cement Plant, Baga in Solan district for allegedly violating anti-pollution norms. "The results of stack emission monitoring of the unit of Ultratech Cement Plant, Baga conducted last year did not [...]

Sojitz Corporation on Tuesday divested a 2.35 per cent stake in auto component major Samvardhana Motherson International for Rs 776 crore through an open market transaction. According to the bulk deal data available with BSE, Sojitz Corporation offloaded 10,61,88,248 shares, amounting to 2.35 per cent stake in the company. The shares were sold at an [...]

Oravel Stays Ltd, which operates travel tech firm and brand OYO, on Wednesday said it will refile its draft public listing application by the middle of next month. Earlier this month capital markets regulator Sebi had asked the company to refile the draft initial public offering (IPO) papers with certain updates. "We are working on [...]

Diversified conglomerate ITC on Tuesday announced the acquisition of Sproutlife Foods Pvt Ltd (SFPL), which owns Direct-to-Consumer (D2C) brand Yoga Bar. ITC has signed a binding term sheet to acquire 100 per cent shares of SFPL over a period of three to four years, said a statement. It will initially acquire a 47.5 per cent [...]

City-based coating major Berger Paints Ltd is scouting for land in Odisha for a new manufacturing plant, a top company official said on Tuesday. The company is also gearing up to operationalise the Rs 1,015 crore integrated fully-automated paint manufacturing plant near Lucknow soon. The 36-acre plant in Sandila industrial park, Uttar Pradesh, is expected [...]

Sundram Fasteners Ltd, engaged in manufacturing of auto components has bagged a USD 250 million contract from a top automobile manufacturer for supply of sub-assemblies to its electric vehicle segment, the company said on Tuesday. The city-based company said the award of contract was the biggest EV contract secured in its 60 year old history. [...]

Motilal Oswal Alternates, which has already committed Rs 2,000 crore to realty projects during this fiscal so far, is planning to launch a new fund with similar investible corpus by March. Sharad Mittal, chief executive of real estate funds at MO Alternates, said, "in addition to the money already committed, we plan to launch a [...]

Steel wheels manufacturer, Wheels India Ltd has launched flow form technology equipped in cast alloy wheel considered one of the most advanced manufacturing technologies in the wheel industry, the company said on Tuesday. The city-headquartered company recently commenced shipment of the flow forming wheel to the United States and expects to unveil the product soon [...]

Sagar Cements has been declared as the successful bidder for debt-ridden Andhra Cements, a company which was owned by the Jaypee Group and is under the Corporate Insolvency Resolution Process. The Committee of Creditors (CoC) of Andhra Cements has voted with a majority in favour of the resolution plan filed by Sagar Cements Ltd, Andhra [...]

Capital markets regulator Sebi has returned the draft IPO papers of Lava International and asked the home-grown mobile maker to file documents again with certain updates. The move might delay the company's initial public offering (IPO). Lava International had filed draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) in [...]

Pharmaceutical companies Innova Captab Ltd and Blue Jet Healthcare have received Sebi's go-ahead to raise funds through initial public offering (IPO). The two firms, which filed their preliminary papers with Sebi between June and September 2022, obtained its observation letters during January 9-11, an update with Sebi showed on Tuesday. In Sebi's parlance, its observation [...]

Shares of Bank of Maharashtra on Monday rallied nearly 5 per cent after the company reported a two-fold jump in its standalone profit after tax in the quarter ended December 2022. On the BSE, shares of the company climbed 4.26 per cent to settle at Rs 33.05 each. During the day, it jumped 8.51 per [...]

State-owned Bank of Maharashtra (BoM) on Monday said it proposes to raise up to Rs 1,000 crore from qualified institutions placement (QIP) in the January-March quarter to meet minimum public shareholding (MPS) norms of market regulator Sebi. The bank has initiated the process to meet the norms of Securities and Exchange Board of India (Sebi), [...]

Maruti Suzuki India on Monday said it transported over 3.2 lakh vehicles using Indian railways last year, its highest-ever dispatch in a calendar year. The company had obtained a Automobile Freight Train Operator (AFTO) licence in 2013 allowing it to fabricate and operate high-speed, high-capacity auto-wagon rakes on the Indian Railways network. In the last [...]

The government of Tripura and NTPC Renewable Energy Limited (NTPC REL) have signed an agreement for development of renewable energy projects in the northeastern state. The Memorandum of Understanding (MoU) was signed between Tripura Chief Minister Manik Saha and senior officials of NTPC Ltd in the national capital on Monday, an official statement said. "NTPC [...]

A special CBI court here on Monday rejected a plea seeking to call Reliance Industries Chairman Mukesh Ambani as a witness in a 1989 case related to an alleged attempt to murder businessman Nusli Wadia. Ivan Sequeira, one of the accused in the more than 33-year-old case, had moved the special Central Bureau of Investigation [...]

Reliance Industries Ltd and its partner bp plc on Monday suspended a planned auction for the sale of natural gas from their eastern offshore KG-D6 block after the government altered marketing rules to cap margins. In a notice, Reliance and its partner BP Exploration (Alpha) Ltd (BPEAL) said the auction has been suspended indefinitely. E-bidding [...]

Axis Bank has trumped every competitor for the 16th consecutive year in 2022 as a rupee domestic bond issue arranger, cornering 19.20 per cent market share or Rs 92,904.5 crore across 127 issuances. Significantly, the top three spots are retained by private sector lenders with the second position maintained by ICICI Bank with a market [...]

Bharti Airtel on Monday announced the launch of 5G services in Agra, Meerut, Gorakhpur, Kanpur and Prayagraj in Uttar Pradesh. The services are already live in Lucknow and Varanasi. Airtel '5G Plus' services will be available to customers in a phased manner as the company continues to construct its network and complete the rollout. Customers [...]

Paytm Payments Bank on Monday said it has received final approval from the Reserve Bank of India to operate as a Bharat Bill Payment Operating Unit (BBPOU). Under Bharat Bill Payment System (BBPS), a BBPOU is allowed to facilitate bill payment services of electricity, phone, DTH, water, gas insurance, loan repayments, FASTag recharge, education fees, [...]

Maruti Suzuki India on Monday said it has hiked prices of its vehicles across models by about 1.1 per cent. This is the second price hike that the carmaker is undertaking in the ongoing fiscal year, after increasing it in April 2022. In December last year, the company had said it would hike prices of [...]

Shares of HDFC Bank gained more than 1 per cent in initial trade on Monday after the firm reported 19.9 per cent jump in its net profit for the third quarter ended December 2022. The stock climbed 1.47 per cent to Rs 1,624.40 at the BSE. On the NSE, it advanced 1.29 per cent to [...]

Shares of Wipro on Monday climbed nearly 2 per cent in early trade after the company reported a better-than-expected 2.8 per cent rise in consolidated net profit for the December 2022 quarter. The stock gained 1.81 per cent to Rs 400.80 apiece on the BSE. At the NSE, it climbed 1.80 per cent to Rs [...]

NDTV's three senior executives, including the group president, have resigned weeks after the Adani group took control of the broadcaster. NDTV group's President Suparna Singh, Chief Strategy Officer Arijit Chatterjee and Chief Technology and Product Officer Kawaljit Singh Bedi have resigned, the company said in a regulatory filing. "The Company is in the process of [...]

The National Company Law Tribunal (NCLT) on Friday approved the transfer of ownership of bankrupt-Jet Airways to the Jalan Kalrock consortium and gave the winning bidder more time to pay the dues to the creditors. The latest rulings have come on two petitions filed by the consortium. One plea pertained to approval of transfer of [...]

Realty firm Mahindra Lifespace Developers Ltd on Friday said it has acquired 4.25 acre land in Bengaluru to develop a housing project and is expecting revenue of around Rs 400 crore from this property. The company expects to launch the first phase of the project within the calendar year 2023. In a regulatory filing, Mahindra [...]

The handsome credit growth witnessed at present will taper down next year if deposit growth continues to lag behind, Axis Bank chief executive and managing director Amitabh Chaudhry said on Friday. Chaudhry also advised some caution to be exercised by the system as it witnesses a high growth at present, saying decisions made today should [...]

HCL Technologies has been selected by State Farm, a provider of auto, home, and commercial insurance, to modernise its IT service desk and infrastructure operations, according to a statement. Some State Farm employees supporting this work will transfer to HCL Tech to continue their key role in delivering technology services to State Farm, it said. [...]

BCL Industries on Friday said its board has approved a proposal to raise Rs 201 crore through issuance of warrants on a preferential basis. BCL Industries is the only company in India and the South Asian region to have a forward and backward integrated distillery ethanol plant. The board has approved issuance of 55,83,334 fully [...]

The lawyer of Videocon Group promoter Venugopal Dhoot on Friday argued before the Bombay High Court that the industrialist's arrest in the ICICI Bank loan fraud case was unwarranted as he was cooperating with the probe. The Central Bureau of Investigation (CBI), on the other hand, claimed that he was trying to avoid probe. Dhoot, [...]

Shares of Infosys bounced back after declining in initial trade on Friday and were trading in the positive territory, a day after it announced its December quarter earnings. The stock, after making a positive beginning, declined 0.84 per cent to Rs 1,468 on the BSE. However, later it bounced back and climbed 0.74 per cent [...]

IT company HCL Tech has bagged a digital transformation deal from US-based toy manufacturing company and owner of children's and family entertainment franchises Mattel Inc, the company said on Thursday. Unde the deal, HCLTech will serve as Mattel's primary IT digital transformation partner for the next several years. HCL Tech will support Mattel's future direction [...]

IT company L&T Technology Services will acquire the Smart World & Communication (SWC) Business of its parent firm Larsen & Toubro Limited in an all-cash deal worth Rs 800 crore. Smart World & Communication (SWC) was founded in 2016 to cater to the demands in smart cities, address opportunities and provide smart solutions in the [...]

Godrej Properties on Friday said it has acquired a 60-acre land in Chennai to develop a residential project, as it seeks to expand business amid rise in housing demand. In a regulatory filing, the company informed that it has purchased the land on an outright basis in the micro market of Oragadam Junction, Chennai. The company [...]

State-owned REC Ltd will extend financial assistance worth Rs 21,086 crore to discoms in Madhya Pradesh, MP Power Management Company Ltd & Rewa Ultra Mega Solar project. REC has inked three separate pacts with MP Power Management Company Limited (MPPMCL), discoms in Madhya Pradesh and Rewa Ultra Mega Solar Ltd to this effect. An MoU [...]

The National Company Law Tribunal (NCLT) on Thursday asked insolvency-bound Reliance Capital's lenders and administrator to file a response by January 16 on Torrent Investments' plea to halt their plans to hold a fresh auction for better realisation. Torrent Investments -- one of the bidders for the Anil Ambani-promoted Reliance Capital -- has offered Rs [...]