M-cap of nine out of the top 10 most valued firms eroded by Rs 2.62 lakh crore
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The market valuation of nine of the top-10 most valued companies eroded by Rs 2,62,146.32 crore last week in tandem with an overall weak broader market. While Bajaj Finance and Reliance Industries took the biggest hit, Bharti Airtel was the only gainer from t
Petrol, diesel prices on November 27: No change in fuel rates for 23rd straight day
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The government cut excise duty on petrol by Rs 5 per litre and that on diesel by Rs 10 a litre on November 3 to give relief to consumers battered by record-high retail fuel prices.
Business in the Week Ahead (November 29-December 3, 2021)
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GDP data for Q3, fiscal deficit, trade deficit, manufacturing and services PMIs â the next week comes with an overload of macro figures. Also, keep track of the crucial testimony from Fed chairman Jerome PowellÂ
Nissan Magnite deliveries touch 30,000 units in India
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The key of the 30,000th Magnite SUV was handed over to a customer by Nissan AMIEO Region Chairperson Guillaume Cartier at a ceremony in Gurgaon on Friday, Nissan Motor India said in a release.
We plan to be a very strong force in the region, says SriLankan Airlinesâs Ashok Parthirage
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Ashok Parthirage, chairman of the flag carrier is courting the Indian traveller, while also hard-selling Sri Lanka as an investment, tourism and domicile destination
Vedanta#39;s Sesa Goa iron ore business pledges to become carbon neutral by 2050
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In line with the countryâs larger vision of net zero carbon economy, the company has devised a comprehensive plan to achieve this goal, the company said in a statement.
Bank of Baroda raises Rs 1,997 crore via Basel III-compliant bonds
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«The bank has received total bid amount of Rs 5,308 crore, out of which the issuance was finalised for Rs 1,997 crore at 7.95 per cent (per annum),» BoB said in a regulatory filing.
The company, which helps gated communities manage their security and operations by digitising and automating manual tasks, has added 10,000 housing societies over the past year and grown its presence to 25,000 societies across more than 25 cities.
IEX shareholders approve bonus issue, increase in authorised share capital
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In a regulatory filing the company said the shareholders of the company have approved the resolutions as contained in the notice by requisite majority on November 25, 2021, through remote e-voting postal ballot process as set out in the postal ballot notice.
Flipkart vs Meesho: A new war in Indian e-commerce
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Moneycontrol learns from sources that six-year-old Meesho#39;s rapid expansion and quality of execution have taken India#39;s original internet poster boy, Flipkart, by surprise
Wipro#39;s Azim Premji shows interest in investing in Jharkhand
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The state government quoting Premji said that the Azim Premji Foundation and Wipro want to work in coordination with the state government in the field of quality higher education and health.
Bosch partners German GIZ for promoting sustainable mobility solutions in Indian cities
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GIZ is a German government-owned enterprise providing support to achieve its objectives in the field of international cooperation for sustainable development.
Under the collaboration, Clean Max Enviro Energy Solutions (CleanMax) will supply 4.85 MW of wind-solar hybrid power to MG Motorâs manufacturing facility in Halol.
ADB approves $1.5 billion loan to India for purchasing COVID-19 vaccines
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«ADB today approved a USD 1.5 billion loan to help the Government of India purchase safe and effective vaccines against the coronavirus disease (COVID-19),» ADB said in a statement on Thursday.
India a very important market, believe bilaterals have to expand, says flydubaiâs Ghaith Al Ghaith
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flydubai CEO Ghaith Al Ghaith also says that while the Indian aviation market presents a good opportunity, his company is currently focused on business in the emirate
ITC starts clinical trials of nasal spray for COVID-19 prevention
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Developed by scientists at ITC Life Sciences and Technology Centre (LSTC), Bengaluru, the company plans to market the nasal spray under the Savlon brand once it gets all the requisite regulatory approvals, according to sources.
The company has announced the merger of its three subsidiaries â upGrad Campus (originally Impartus), upGrad Jeet (originally The GATE Academy) and upGrad KnowledgeHut (originally KnowledgeHut).
Addressing the annual session of the Indian Chamber of Commerce virtually, Shah said peace has been restored in the Northeast in the last seven years, militancy has come to an end and there is political stability in all the eight states in the region.
ED glare on Preeti Chandra for hiding details of cash deals, company associations: Report
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Sources said the wife of jailed Unitech promoter Sanjay Chandra hid details such as transfer of funds into her personal accounts and her directorship with a number of companies.
Metro rail systems are emerging from the pandemicâs shadows, but businesses face long CovidÂ
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Ridership numbers in some metros are inching towards pre-pandemic levels, while others are still struggling from Covid-induced capacity restrictions as well as the WFH shift and passenger hesitancy. Non-fare revenue in most metros has also taken a hit
Amazon seeks to pause antitrust review of 2019 deal with India#39;s Future: Documents
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The Competition Commission of India (CCI) in June accused Amazon of concealing facts and making false submissions when it sought approval for the $200 million investment into a Future unit in 2019, a deal that is now at the heart of protracted legal disputes
Acer India, Dixon Tech partner to make up to 5 lakh laptops annually in India
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The facility will have a capacity to manufacture up to 5 lakh Acer laptops annually. «Acer India, the leading PC brand, and Dixon Technologies have partnered for the manufacturing of laptops at Dixonâs state-of-the-art manufacturing facility situat
Thermax bags order worth Rs 830 crore to set up FGD systems
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«Thermax Limited has concluded an order of Rs 830 crore from an Indian power private sector company to set up flue gas desulphurisation (FGD) systems for their three units of 660 MW capacity each in the state of Uttar Pradesh,» a company statemen
LT signs pact with Tamil Nadu govt to build data centre at Kanchipuram
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The company envisages to employ around 1,100 people â 600 direct and 500 indirect â in the project. LT will establish 90 MW capacity data centres and associated units in a phased manner in Kanchipuram over the next five years.
Indifi raises Rs 340 crore in equity, debt funding
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CX Partners and OP Finnfund Global Impact Fund I (the first Finnish global emerging markets impact fund) along with existing investors CDC Group (the UKâs development finance institution), Omidyar Network, Flourish Ventures, Elevar Equity and Accel inves
Park raises $25 million funding from Sequoia Capital India, others
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Existing and new investors, including AdvantEdge, Fund II â A Series of Somani Investments LP and Motherson Lease Solution Limited, also participated in the series B round, a statement said.
CCI approves FedEx India#39;s minority stake-buy in Delhivery
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It has also given nod to acquisition of certain operating assets of FedEx India and TNT India by Delhivery. Under the proposed combination, FedEx India will acquire a minority stake in Delhivery on fully diluted basis along with certain minority investor righ
Most existing cryptocurrencies won#39;t survive, says Raghuram Rajan
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#39;If things have value only because they will be pricier down the line, thatâs a bubble⦠A lot of cryptos have value only because there is a greater fool out there willing to buy.#39;
Petrol, diesel prices on November 24: Fuel rates remain unchanged for 20 day in row
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Following the Centre#39;s excise duty cut on petrol and diesel, 27 states and union territories have cut VAT to give further reprieve to consumers battered by record-high retail prices.
TVS Motor Company signs MoU with Tamil Nadu for Rs 1,200-crore investment
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Under the MoU, the investment will be spread over four years, and will be mainly for the design, development and manufacturing of new products and for capacity expansion in the EV space
