Business

NCLT gives Approval for Merger of Multiplex Operators PVR and Inox

In a major boost to the film and entertainment industry, PVR-Inox merger has been approved by the National Company Law Tribunal. The NCLT judge has approved the scheme of merger in a verbal order. A written order is likely to...

Alibaba sells Paytm stake worth $125 Million via block deal

China's Alibaba Group sold a 3.1% stake in Indian digital payments firm Paytm for a total of $125 million through a block deal. Shares of the company fell as much as 8.8% to 528 rupees in afternoon trading, and was...

ISRO and Microsoft Signed MoU to Boost Indian Space Tech Ecosystem

Indian Space Research Organization (ISRO) and Microsoft signed a Memorandum of Understanding (MoU) to help Indian Space tech start-ups with technology tools, go-to-market support, and mentoring to help them scale and become business ready. Through this MoU, the space tech...

ONGC Top Profit Making Public Sector Enterprises in 2021-22

The net profit of operating public sector enterprises jumped 50.87 per cent to ₹ 2.49 lakh crore during 2021-22, with ONGC, Indian Oil Corp, Power Grid, NTPC and SAIL emerging as the top five performers. The net profit of operating...

NDTV Founders to Get Rs 602 Crore from Sale of 27.26% to Adani Enterprises

The Adani Group informed stock exchanges that it has acquired additional  27.26 per cent equity stake in NDTV from founders Prannoy Roy and his wife Radhika Roy. The billionaire Gautam Adani-backed Adani Group acquired shares from Roys at Rs 342.65...

Government Owned WAPCOS Ranked as Top Consulting Firm by the Asian Development Bank

The Asian Development Bank (ADB), in its report released on annual procurement, ranked Indian-PSU company WAPCOS as top amongst consulting services firms in water and other infrastructure sectors, with the highest sanctioned financed amount. In another report on its members’...

Bajaj Allianz General Insurance Announces Launch of ‘Respect Senior Care Rider’

Bajaj Allianz General Insurance, one of the leading private general insurers of India, announced the launch of its unique health insurance rider ‘Respect Senior Care Rider’. This rider helps one fulfill their parental responsibility smoothly. In order to accomplish this...

IRDAI to Introduce ‘Bima Vahaks’ to Expand Insurance Force

To enhance the insurance force in India, the Insurance Regulatory and Development Authority of India (IRDAI) will soon introduce "Bima Vahaks" in each gram panchayat. Each Gram Panchayat will have a 'Bima Vahak' who would be tasked to sell and service simple parametric...

Reliance Acquires Metro AG’s India Business for Rs 2,850 Crore

Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Ltd signed definitive agreements to acquire 100 percent equity stake in Metro Cash and Carry India Pvt Ltd, which operates under the ‘Metro India’ brand, for a cash consideration of...

Reliance Jio launches 5G in Andhra Pradesh with Rs 6,500-cr investment

Reliance Jio announced it has launched True 5G services in Andhra Pradesh. The 5G services were launched in Tirumala, Visakhapatnam, Vijayawada, and Guntur districts. Apart from their existing investment of Rs 26,000 crore, additionally Jio has invested over Rs 6,500...