Nearly 18 hours after the autopsy on businessman Mansukh Hiren - whose body was fished out of the Thane Creek marshes - his distraught family accepted his mortal remains for the last rites, here on Saturday evening. Close relatives, including his brother, went to a hospital in Kalwe, completed the relevent formalities and took charge of Hiren s body. However, the autopsy report comprising the findings and opinion of the four-member medical team, has been kept in reserve while his viscera has been preserved for a forensic analysis, said Deputy Commissioner of Police (Zone-I), Avinash Ambure. Ambure added that the post-mortem report has been shared with the family members , but he declined to elaborate on what grounds further investigations are on.
Shares of Reliance Industries (RIL) will be in focus. Reliance Jio Infocomm (RJIL) announced that it has successfully acquired the right to use spectrum in all 22 circles across India in the recently concluded spectrum auctions conducted by Department of Telecommunications, Government of India. The payment to be made for the right to use this technology agnostic spectrum for a period of 20 years is Rs. 57,123 crore
Ircon International announced that the company s promoter proposes to sell up to 4,70,25,787 equity shares of the company, representing 10% of the issued and paid up share capital of the company on 03 March and 04 March 2021 through a separate window of the BSE and NSE. The Government may exercise an option to additionally sell 2,82,15,473 equity shares, representing 6% of the issued and paid up share capital of the company. The floor price for the offer shall be Rs 88 per share.
The main stock indices were trading near the day s high in morning trade. The Nifty crossed the crucial 15,000 mark. Barring the Nifty Auto index, all the sectoral indices on the NSE were trading in the green.
At 10:22 IST, the barometer index, the S&P BSE Sensex, was up 395.88 points or 0.79% at 50,692.64. The Nifty 50 index surged 122.5 points or 0.82% at 15,041.70.
In broader market, the S&P BSE Mid-Cap index was up 1.13% while the S&P BSE Small-Cap index was surged 1.31%.
The market breadth was strong. On the BSE, 1712 shares rose and 799 shares fell. A total of 129 shares were unchanged.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 114,728,460 with 2,548,573 deaths.
Reliance Industries (RIL) rose 1.22% to Rs 2132 after the company said that its telecom unit Reliance Jio has successfully acquired the right to use spectrum in all 22 circles across India.
In a BSE filing made after market hours on Tuesday (2 March 2021), RIL said that Reliance Jio Infocomm, a subsidiary of the company, had successfully acquired the right to use spectrum in all 22 circles across India in the recently concluded spectrum auctions conducted by Department of Telecommunications, Government of India.
RIL said that the payment to be made for the right to use this technology agnostic spectrum for a period of 20 years is Rs 57,123 crore. For the spectrum bought, Jio will have to make an upfront payment of Rs 19,939 crore and deferred payment of Rs 37,184 crore. As per terms of the spectrum auction, the deferred payments have to be made over a period of 18 years (2 year moratorium plus 16 year repayment period), with interest computed at 7.3% per annum.
As digital payments in India continue to grow, several prominent business establishments in India including Reliance Industries, the Tata Group and digital payments major Paytm are reportedly in fray for setting up New Umbrella Entity (NUE) for retail payments. Moreover, several global tech giants including Facebook, Google and Amazon have tied up with Indian organisations for being a part of such an entity which would rival the likes of National Payments Corporation of India (NPCI). But what is the NUE licence that a number of big businesses are vying for? The Reserve Bank of India (RBI) came up with a framework for the pan-India umbrella entity for retail payments back in August 2020, wherein the central bank said that an entity must have a minimum paid-up capital of Rs 500 crore.