CCI approves Manipal Health's 100% acquisition of Columbia Asia Hospital
Fri, Jan 8, 2021 8:25 PM

CCI approves Manipal Health's 100% acquisition of Columbia Asia Hospital

The CCI gave its nod to Manipal Health Enterprises Pvt Ltd for the acquisition of 100% shareholding in Columbia Asia Hospitals Pvt Ltd (CAHPL). The development comes after the Bengaluru-based MEHPL had entered into a share purchase agreement with the US-based hospital chain in October last year. The combined entity would now have a presence of 27 hospitals across 15 cities with over 7,300 beds.

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Forex reserves swell by $4.483 billion to record $585.324 billion
Fri, Jan 8, 2021 8:15 PM

Forex reserves swell by $4.483 billion to record $585.324 billion

The country's foreign exchange reserves surged by $4.483 billion to touch a record high of $585.324 billion in the week ended January 1, RBI data showed on Friday. In the previous week ended December 25, the reserves had declined by $290 million to $580.841 billion. In the reporting week, the increase in reserves was on account of a rise in foreign currency assets (FCAs).

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Bitcoin on record-setting spree jumps 5% on day to $41,530
Fri, Jan 8, 2021 8:02 PM

Bitcoin on record-setting spree jumps 5% on day to $41,530

Bitcoin jumped more than 5 percent on Friday to fresh record highs of $41,530, reversing losses from earlier in the session. The world's most popular digital currency slid to as low as $36,618.36 on Bitstamp exchange before bouncing back. Rival cryptocurrency ethereum rose 3 percent after sinking more than 10 percent. Bitcoin has rallied nearly 1,000 percent since a low in March.

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63 Moons seeks support from DHFL’s retail investors for additional recovery
Fri, Jan 8, 2021 7:50 PM

63 Moons seeks support from DHFL’s retail investors for additional recovery

63 Moons Technologies, an investor with about Rs 200 crore exposure, has sought support from other bond and fixed deposit holders of DHFL as it has already filed an application in NCLT, Mumbai. The petition has sought that the fraudulent transaction recovery benefit, which is a siphoned off money of approximately Rs. 30,000 crores filed by DHFL administrator should come to creditors.

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Healthtech Startup Generico Raises INR 10 Cr Debt From Alteria Capital
Fri, Jan 8, 2021 7:30 PM

Healthtech Startup Generico Raises INR 10 Cr Debt From Alteria Capital

Generico has raised INR 10 Cr in debt from venture debt company Alteria Capital. The company has also raised another INR 1 Cr from Alteria by allotting it Series A2 compulsorily convertible preference shares (CCPS).  According to the company’s filings, Generico has allotted 1,000 Series B debentures, at a face value of INR 10 per share and a premium of INR 1,03,040 per share.

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India’s gems, jewellery exports picking up in major markets: GJEPC
Fri, Jan 8, 2021 7:20 PM

India’s gems, jewellery exports picking up in major markets: GJEPC

Gems and jewellery exports reached the pre-COVID levels in November and December as the demand picked up in all major markets, including the US where the spending on Thanksgiving Day rose by nearly 22%. The IIJS Virtual 2.0 was held this week. It has 250 exhibitors and over 8,000 registered buyers including international buyers from the US, the UK, UAE, Singapore, Bangladesh, Nepal, and Thailand.

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Reliance Capital’s total outstanding debt rises to Rs 20,380 cr
Fri, Jan 8, 2021 7:10 PM

Reliance Capital’s total outstanding debt rises to Rs 20,380 cr

Reliance Capital Ltd (RCL) informed the total financial indebtedness of the listed entity, including short-term and long-term debt and accrued interest, was Rs 20,379.71 crore at the end of December 2020. The total debt, including interest, stood at Rs 19,805.7 crore on August 31, 2020. The principal amount due to HDFC Ltd is Rs 523.98 crore and to Axis Bank Rs 100.63 crore.

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Piramal Group launches blistering attack against Oaktree bid for DHFL
Fri, Jan 8, 2021 7:00 PM

Piramal Group launches blistering attack against Oaktree bid for DHFL

Piramal Group, one of the front-runners for beleaguered mortgage lender DHFL, on January 8 strongly contested the claims made by competing bidder Oaktree Capital. The Piramal bid for DHFL offers the lenders the highest upfront cash recovery, has the highest score on the CoC evaluation matrix, is fully compliant with all regulatory norms, and is fully and immediately implementable.

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Thomas Cook India & SOTC offers discounts to capitalise on extended weekend
Fri, Jan 8, 2021 6:50 PM

Thomas Cook India & SOTC offers discounts to capitalise on extended weekend

Lockdown fatigue having created significant pent-up travel demand, with positive news on COVID vaccines, Indian consumers are looking to avail of 2021’s long weekends for mini-vacations. To make the most of the long weekends in 2021, Thomas Cook India and its Group company, SOTC Travel handpicked the best deals for long weekend getaways starting at Rs, 3 450.00, across India, Dubai and Maldives.

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Steel Strips Wheels bags new export order worth Rs8.14cr
Fri, Jan 8, 2021 6:40 PM

Steel Strips Wheels bags new export order worth Rs8.14cr

Steel Strips Wheels on Friday received a new order for approximately Rs8.14cr ($1.1M) for over 93,000 wheels. The company plans to execute the order in January, February and March 2021 from its Chennai plant. On Sensex, the company's stock ended at Rs607.75 per piece up Rs22.30 or 3.81%. The stock has touched an intraday high and low of Rs614 per piece and Rs575.10 per piece so far today.

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TCS Q3 profit rises to Rs 8,701 crore
Fri, Jan 8, 2021 6:30 PM

TCS Q3 profit rises to Rs 8,701 crore

Tata Consultancy Services, the largest IT services exporter in India, reported a consolidated net profit of Rs 8,701 crore for the quarter ended December 2020, versus Rs 7,475 crore in the previous quarter. Consolidated revenue for the quarter increased to Rs 42,015 crore, from Rs 40,135 crore in the 2nd quarter of the financial year 2020-21, while constant currency revenue grew at 4.1%.

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As Bitcoin Hits $40K, India’s Crypto Exchanges Clamp Down On Illicit Trades
Fri, Jan 8, 2021 6:20 PM

As Bitcoin Hits $40K, India’s Crypto Exchanges Clamp Down On Illicit Trades

Amid the Bitcoin price rally, Indian crypto exchanges have stepped up their efforts to clamp down on suspicious activities and fraudulent practices, such as the ‘pump and dump’ manoeuvre typically used by investors in small-cap, low trading volume cryptocurrency assets.  In ‘pump and dump’ schemes, a small group of crypto traders coordinate to drive up the price for a small-cap cryptocurrency.

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Flipkart to train aspirants who want to work in the logistics industry
Fri, Jan 8, 2021 6:10 PM

Flipkart to train aspirants who want to work in the logistics industry

Flipkart signed an MoU with the Logistics Skill Sector Council (LSC) and Karnataka Skill Development Centre. As part of the MoU, Flipkart launched a Centre of Excellence (CoE) to build a skilled and trained workforce for the fast-growing e-commerce industry. Upon successful completion of the training, candidates will be awarded certification, which is equivalent to an undergraduate degree.

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JB Chemicals gets ANDA approval for Loratadine Tablets USP
Fri, Jan 8, 2021 6:00 PM

JB Chemicals gets ANDA approval for Loratadine Tablets USP

J.B. Chemicals & Pharmaceuticals reported that US FDA has approved Company's Abbreviated New Drug Application (ANDA) for Loratadine Tablets USP 10 mg. the formulation will help in the treatment of allergic rhinitis caused by pollen and upper respiratory tract allergy & for over-the-counter (OTC) use. This product is generic version of Clartin tablet in the same strength of Bayer Healthcare LLC.

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Prestige acquires 50% equity stake in Pandora Projects
Fri, Jan 8, 2021 5:44 PM

Prestige acquires 50% equity stake in Pandora Projects

Prestige Estates Projects Limited has acquired a 50% equity stake in Pandora Projects Private Limited on January 7, 2021. The shares were subscribed at Rs50,000. Pandora Projects Private Limited is a real estate development company incorporated in 2014. Prestige Estates Projects Ltd ended at Rs285.75 per piece up by Rs2.85 or 1.01% on the BSE.

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