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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 of India (SEBI) imposed a joint penalty of Rs25 crore on Mukesh and Anil Ambani along with their fa...

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 officials of MoRTH and presented the letters of appreciation. The minister said that this would not h...

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 has welcomed the recovery from the depths seen in 2020, the demand for automobiles in India is still ...

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 Bank. The transaction value is Rs 1,200 crore, Reliance said in a stock exchange filing. “Entire proc...

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. The parties aim to create a leading telecommunication service provider in Malaysia with the capabi...