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Markets > Stock markets - India > SEBI Sebi imposes Rs25-cr penalty on Ambani brothers and others for takeover rules violation 08 April 2021  The Securities and Exchange Board of India (Sebi) on Wednesday imposed a penalty of Rs25 crore on Mukesh Ambani, Anil Ambani and other individuals as also various entities belonging to the Reliance Group, for non-compliance of takeover norms in a two-decade-old share issue in the company. The adjudicating officer (AO) of the Securities and Exchange Board...

Economy > Infrastructure > Roads MoRTH achieves record construction of 37 km per day of highways in FY21 05 April 2021 The ministry of road transport and highways (MoRTH) has achieved a milestone of constructing 37 kilometres of highways per day in year 2020-21, which is unprecedented. MoRTH has reported tremendous progress in building of national highways across the country in the last few years.  Minister for road transport and highways and MSME, Nitin Gadkari, last evening felicitated the o...

Industry > Industry monitor > Automobiles > Cars 01 April 2021 Indian auto majors Tata Motors, Mahindra & Mahindra and Marurti Suzuki saw exponential growth in sales compared to March last year. Tata Motors, Maruti Suzuki and Mahindra & Mahindra saw their sales more than double on a year-on-year basis. The auto companies saw their sales recover after a year of sluggish sales due to the COVID-19 pandemic, so their full year growth was still slow compared to pre-pandemic years. While the market h...

Firms/companies > R > Reliance Industries Reliance Infra sells its Mumbai headquarters to Yes Bank for Rs1,200 cr in debt redumption 05 April 2021 The Anil Ambani-led  Reliance Infrastructure has sold Reliance Centre, the premises housing the group’s headquarters, to Yes Bank for Rs1,200 crore as part of a debt repayment process. Reliance Infrastructure Limited (RInfra) and Yes Bank Limited (Yes Bank) on Thursday announced the sale transaction of Reliance Centre, Santacruz, Mumbai to Yes Ban...

Firms/companies > T > Telenor 08 April 2021 Norwegian teleom operator Telenor Group and Malaysia’s Axiata Group Berhad are in advanced discussions regarding a potential merger of their Malaysian mobile operations Digi and Celcom, in which the parties will have an equal ownership of 33.1 per cent each.  The new company will be a leading provider of telecommunication services in the country, with competence and scale to meet increasing expectations and demand from a digitally connected society...

Firms/companies > W > Wipro Wipro acquires Australia-based cyber security provider Ampion 05 April 2021 Wipro Limited, India’s third-largest software, consulting and business process services company, today announced the signing of an agreement to acquire Ampion, an Australia-based provider of cyber security, DevOps and quality engineering services. Ampion was formed through the merger of IT services providers ‘Revolution IT’ and ‘Shelde’, both based in Australia. Revolution IT was an...

07 April 2021 India and Russia have decided to expand their military cooperation with additional production of Russian military equipment in India under Prime Minister Narendra Modi’s `Make-in-India’ programme, visiting Russian foreign minister Sergei Lavrov said after meeting his counterpart S Jaishankar in New Delhi on Tuesday. The two countries also decided to pursue bilateral cooperation despite dissuations caused by regional and global developments. Moscow and New Delhi also reassured ...

Industry > Industry monitor > Power 08 April 2021 The union cabinet on Wednesday approved production linked incentive scheme for achieving manufacturing capacity of Giga Watt (GW) scale in high efficiency solar photo voltaic (PV) modules, with an outlay of Rs4,500 crore. The cabinet, chaired by Prime Minister Narendra Modi, approved the ministry of new and renewable energys proposal for implementation of the National Programme on High Efficiency Solar PV Modules. Solar capacity addition at pres...

Industry > Industry monitor > Shipping 08 April 2021 Mansukh Mandaviya, Minister of State (I/C) for Ports, Shipping and Waterways, chaired a meeting to review the Urban Water Transportation projects for Mumbai, Maharashtra. Senior Officials of the Ministry, Chairperson of Mumbai Port and officials of Maharashtra Maritime Board and other stakeholders were present in the meeting. The ministry of shipping and waterways has proposed the operationalisation of 4 new routes for ROPAX ferry services an...

Economy > Government policies 08 April 2021 The President on Sunday promulgated the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021, giving effect to the cabinet approval for amendments in the Insolvency and Bankruptcy Code, 2016 (Code), through an ordinance. The amendments aim to provide an efficient alternative insolvency resolution framework for corporate persons classified as micro, small and medium enterprises (MSMEs) under the Code, for ensuring quicker, cost-effective and valu...