COAI urges govt to cut 5G spectrum base price by more than half
Sun, Nov 28, 2021 6:21 PM

COAI urges govt to cut 5G spectrum base price by more than half

Telecom Industry body COAI proposed recommendations to the govt to lower the base price of spectrum by more than half, for the proposed auction, especially for 5G services. In the first auction of radio airwaves in five years in March 2021, the government offered 2,308.80 MHz of spectrum in seven bands, at a reserve price of nearly Rs 4 lakh crore.

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Coinstore steps in India despite pending curbs over cryptocurrency trade
Sun, Nov 28, 2021 6:10 PM

Coinstore steps in India despite pending curbs over cryptocurrency trade

Amid the Indian government is drafting rules to bar most private cryptocurrencies, Singapore-based virtual currency exchange Coinstore has begun operations in India. The company started with its web and app platform and plans branches in Bangalore, New Delhi, and Mumbai which will act as its base in India for future expansion, its management said.

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Rs60,000cr scheme for Covid-hit sectors awaits implementation
Sun, Nov 28, 2021 6:03 PM

Rs60,000cr scheme for Covid-hit sectors awaits implementation

Finance Minister Nirmala Sitharaman has recieved another representation by the Hotel and restaurant body Federation of Hotel & Restaurant Associations of India (FHRAI), seeking her intervention in notifying the Rs 60,000-crore Loan Guarantee Scheme for Covid affected sectors declared in June this year. The association had earlier as well requested FM to take cognizance of notifying the scheme.

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Berlin-based UP42 looking to partner with govt for Gati Shakti objectives
Sun, Nov 28, 2021 5:17 PM

Berlin-based UP42 looking to partner with govt for Gati Shakti objectives

UP42 is eyeing to join hands with the government to help achieve the Indian Space Association and Gati Shakti objectives more cost-effectively. The Berlin-headquartered geospatial data and analytics marketplace, earlier this month made available very-high-resolution optical imagery of the earth captured by its satellites.

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Dharma 2.0 allied with chewing gum brand Center fresh for digital film
Sun, Nov 28, 2021 5:14 PM

Dharma 2.0 allied with chewing gum brand Center fresh for digital film

Production house Dharma 2.0 and Perfetti Van Melle’s chewing gum and mint brand Center fresh has joined hands for two digital films for its campaign facilitated by Wavemaker India, with support from creatives from Ogilvy India. Dharma 2.0 is a youth-focused arm of Dharma Production that exclusively focuses on creating ad films directed by Punit Malhotra.

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Sterlite Technologies' MD bullish about India market opportunities
Sun, Nov 28, 2021 4:57 PM

Sterlite Technologies' MD bullish about India market opportunities

Watching India's market opportunity, including business prospects arising from upcoming 5G deployments, Ankit Agarwal, the new MD of Sterlite Technologies (STL) is bullish about the upcoming opportunities. Agarwal - who transitioned into the role of managing director last month amid top-level leadership changes at STL is "excited" about the growth opportunities that are emerging here.

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Amazon writes to CCI to nullify Reliance-Future deal approval
Sun, Nov 28, 2021 4:49 PM

Amazon writes to CCI to nullify Reliance-Future deal approval

Indian antitrust regulator recieved a request from Amazon to revoke its approval for Future Retail's $3.4 billion sale of retail assets to Reliance, saying it was "illegally obtained", violating an order suspending the deal. Amazon.com Inc's letter to the Competition Commission of India last week demanded approval for the deal to be considered as "nullity in the eyes of law".

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PNB auctions National Steel & Agro Industries to recover Rs 200Cr debt
Sun, Nov 28, 2021 4:28 PM

PNB auctions National Steel & Agro Industries to recover Rs 200Cr debt

The Madhya Pradesh-based steel and agriculture company has been put for sale by the state-owned Punjab National Bank (PNB). The bank is planning to recover its outstanding of nearly Rs 200 crore through this sale as the National Steel and Agro Industries Ltd has a balance outstanding of Rs 199.90 crore to the bank. "We intend to place the account for sale to ARCs/NBFCs/other banks/FIs," PNB said.

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Religare Finvest to restart business in January, debt recast at final stage
Sun, Nov 28, 2021 4:15 PM

Religare Finvest to restart business in January, debt recast at final stage

Religare Finvest Ltd (RFL) is ready to restart its business come the new year 2022, with its debt recast at final stages. The Chairperson Rashmi Saluja said, the RFL, which is a NBFC arm of Religare Enterprises Ltd, has been suspended from undertaking fresh business as it is under corrective action plan (CAP) of the Reserve Bank of India (RBI) since January 2018, due to its weak financial health.

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Except Infosys, 9 most valued firms lose ₹1.47 lakh cr in m-cap
Sun, Nov 28, 2021 2:59 PM

Except Infosys, 9 most valued firms lose ₹1.47 lakh cr in m-cap

M-cap of 9 of the top 10 most valued firms eroded by ₹1,47,360.93 crore last week. During the holiday week, the 30-share BSE benchmark Sensex tumbled 1,050.68 points or 1.73%. Reliance Industries emerged as the biggest laggard. Infosys was the only gainer from the top-10 list followed by TCS, HDFC Bank, Hindustan Unilever Limited, ICICI Bank, HDFC, Bajaj Finance, SBI, and Kotak Mahindra Bank.

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CIL's coal supply to power sector increased 23% in April-October
Sun, Nov 28, 2021 2:37 PM

CIL's coal supply to power sector increased 23% in April-October

State-owned Coal India (CIL) has raised the dispatch of coal to the power sector by 22.7% to 291.72 million tonne (MT) in the first seven months of the current fiscal year. According to the monthly summary for the Cabinet for October, Coal India Ltd (CIL) had dispatched 237.75 MT of coal to the power sector in the April-October period of 2020-21.

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FPIs pumped ₹5,319 crore in Indian Market during November
Sun, Nov 28, 2021 2:29 PM

FPIs pumped ₹5,319 crore in Indian Market during November

Foreign portfolio investors (FPI) have invested a combined sum of ₹5,319 crore in Indian capital markets notwithstanding a massive revision seen in equities over the last fortnight. In October, they were net sellers to the tune of ₹12,437 crores. Trend revocation on a weekly basis has become a norm with respect to FPI flows in the Indian debt markets.

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Israel closing its borders for travelers from all countries over Omicron
Sun, Nov 28, 2021 2:10 PM

Israel closing its borders for travelers from all countries over Omicron

In a bid to take preventive measures against the potentially more contagious Omicron coronavirus variant, Israel has said that it would ban the entry of all foreigners into the country, making it the first country to shut its borders completely. Prime Minister Naftali Bennett said in a statement that the ban would last 14 days. Israelis entering the country will be required to quarantine, Bennett

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Kamdhenu to list paints biz post demerger, expected by year end
Sun, Nov 28, 2021 1:58 PM

Kamdhenu to list paints biz post demerger, expected by year end

The Chairman and Managing Director (CMD) of Kamdhenu Group, Satish Kumar Agarwal has said, the company is planning to list its paints entity on bourses following the completion of the demerger process. The building material maker is in the process of separating its steel and paints business by this year-end with an aim to increase its reach and customer base in the market.

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New COVID variant concerns to drive stock markets this week: Analyst
Sun, Nov 28, 2021 1:40 PM

New COVID variant concerns to drive stock markets this week: Analyst

A World Health Organisation panel has named the new COVID strain ’Omicron’ and classified it as a highly transmissible variant. This concern will drive the stock market's most updates related to the new coronavirus that sent equities tumbling globally on Friday, macroeconomic data announcements, and auto sales numbers. Many countries have introduced travel bans and restrictions on South Africa.

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