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Reliance Infra sells its Mumbai headquarters to Yes Bank for Rs1,200 cr in debt redumption


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 proceeds from the sale of Reliance Centre, Santacruz, is utilized only to repay the debt of Yes Bank”, as per the stock exchange filing. ....

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Telenor and Axiata in advanced talks to merge Malaysian operations


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 capabilities to drive research and innovation and facilitate a platform for accelerated digital growth in the local ecosystem and the merged company will be well positioned for delivering industry innovation, high-quality connectivity and a diversified value proposition to the customers, Teenor stated in a release. ....

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Wipro acquires Australia-based cyber security provider Ampion


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 IT services company founded in 2004 and Shelde was a digital IT security company founded in 2010. The merged entity, Ampion is headquartered in Melbourne, with offices in Sydney, Brisbane, and a zone 3 facility in Canberra. ....

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Russia to expand defence co-operation with India


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 themselves that neither threats of sanctions from the United States nor military threat posed by China will stand in the way of bilateral trade and defence ties.
Lavrov said talks touched on manufacturing of state-of-the-art weapon systems, even as he noted that Russia is the only partner that transfers cutting-edge military technology to India. ....

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Govt incentivises production of high efficiency solar PV modules


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 energy s proposal for implementation of the National Programme on High Efficiency Solar PV Modules .
Solar capacity addition at present depends largely n imported solar PV cells and modules as the domestic manufacturing industry has limited operational capacities of solar PV cells and modules. The National Programme on High Efficiency Solar PV Modules will reduce import dependence in a strategic sector like electricity. It will also support the `Atmanirbhar Bharat; initiative. ....

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