Infosys partners Rolls-Royce for aerospace engineering in India
Wed, Dec 2, 2020 3:21 PM

Infosys partners Rolls-Royce for aerospace engineering in India

Infosys Ltd has entered into a partnership with Rolls-Royce, an aerospace and defence technology company, under which the latter will transition a significant part of its engineering centre capabilities for civil aerospace in Bengaluru to the IT services firm. Leveraging its expertise in core engineering services, Infosys will provide a full range of high-end engineering and R&D services.

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NSE launches its first agricultural commodity futures contract
Wed, Dec 2, 2020 3:09 PM

NSE launches its first agricultural commodity futures contract

NSE said on Wednesday it launched its first agricultural commodity futures contract on crude degummed soybean oil (CDSO Futures) on December 1. The CDSO Futures contract is a monthly expiry futures contract with a trading lot size of 10 metric ton (MT) and price basis as Kandla. The exchange said the first trade was executed by ‘East India Securities Ltd’ and ‘M/s Budge Budge Refineries Ltd’.

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Bharti Airtel ups stake in Infratel by nearly 5%
Wed, Dec 2, 2020 2:57 PM

Bharti Airtel ups stake in Infratel by nearly 5%

Bharti Airtel, on Thursday bought an additional 4.9 per cent stake in its tower arm Bharti Infratel via open market block deals, paying anywhere between Rs 3,150-3,300 crore, sources said. Bharti Infratel has recently merged with Indus Towers, making it among the largest telecom tower companies in the world. Prior to the acquisition, Bharti Airtel held 36.7 per cent stake in the tower arm.

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BPCL receives three preliminary bids, says Oil Minister Dharmendra Pradhan
Wed, Dec 2, 2020 2:55 PM

BPCL receives three preliminary bids, says Oil Minister Dharmendra Pradhan

The government has received three preliminary bids for buying of controlling stake in India's second-largest fuel retailer Bharat Petroleum Corporation Ltd (BPCL), Oil Minister Dharmendra Pradhan said on Wednesday. Mining-to-oil conglomerate Vedanta had on November 18 confirmed putting in an expression of interest (EoI) for buying the government's 52.98 per cent stake in BPCL.

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Exxon Mobil in talks to buy stake in Indian oil, gas fields: Pradhan
Wed, Dec 2, 2020 2:52 PM

Exxon Mobil in talks to buy stake in Indian oil, gas fields: Pradhan

Exxon Mobil is in talks to buy a stake in producing oil and gas fields in India, Oil Minister Dharmendra Pradhan said on Wednesday. Speaking at a webinar series on 'The Road To Atmanirbhar Bharat' organised by Swarajya Magazine, he said India is looking to replicate the Texas model of raising domestic oil and gas production by involving small and mid-sized companies in exploration and production.

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Maruti Suzuki sees ‘much better’ 2021 as economy rebounds
Wed, Dec 2, 2020 2:49 PM

Maruti Suzuki sees ‘much better’ 2021 as economy rebounds

India’s biggest carmaker is expecting next year to be “much better" than 2020 as the economy rebounds and consumers emerge from pandemic-induced lockdowns to buy its vehicles. Maruti Suzuki India Ltd., the local unit of Japan’s Suzuki Motor Corp., is expecting retail sales in December to be “pretty good" as there are pending orders with its dealerships and the rate of enquiries has sustained ev...

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Salesforce to buy software maker Slack for $27.7 billion
Wed, Dec 2, 2020 1:05 PM

Salesforce to buy software maker Slack for $27.7 billion

Salesforce.com Inc. agreed to buy Slack Technologies Inc. for $27.7 billion in cash and stock, giving the corporate software giant a popular workplace-communications platform in one of the biggest technology deals of the year. The transaction, Salesforce’s largest-ever acquisition, is expected to close by the end of July, the San Francisco-based company said Tuesday in a statement.

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PNB introduces loan management solution to speed up delivery
Wed, Dec 2, 2020 12:58 PM

PNB introduces loan management solution to speed up delivery

To speed up and maintain accuracy in online loan processing and sanctioning of credit proposals, Punjab National Bank introduced 'LenS' which is a tech-based loan management solution. PNB said in a statement, "After the merger, it was paramount to have a stringent loan management solution, which can be used for activities related to lead capturing, loan appraisal, sanction, and documentation".

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NCC share price rises on bagging Rs 3,905-crore orders
Wed, Dec 2, 2020 12:55 PM

NCC share price rises on bagging Rs 3,905-crore orders

NCC share price gained during intraday trade on December 2 after the company bagged four orders worth Rs 3,905 crore in November. The company got a Rs 848-crore order from the water division and the remaining three from the building division. These orders were from Central and state government agencies and didn't include internal orders, the company said in an exchange filing.

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Phoenix Mills rises 13% on pact with GIC affiliate
Wed, Dec 2, 2020 12:53 PM

Phoenix Mills rises 13% on pact with GIC affiliate

Shares of Phoenix Mills gained as much as 13% on Wednesday after the company, along with its subsidiaries, signed a non-binding term-sheet with an affiliate of GIC to create strategic retail-led mixed use platform. At 12:20 pm, Phoenix Mills' stock was at ₹762.50, up 10.58% from its previous close, while the benchmark index, Sensex lost 0.32% to 44,513.71.

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Dividend per share of these PSUs to improve over FY20-23, says ICICI Sec
Wed, Dec 2, 2020 12:51 PM

Dividend per share of these PSUs to improve over FY20-23, says ICICI Sec

Domestic brokerage firm ICICI Securities says the dividend per share (DPS) for most of the stocks of central public sector enterprises (CPSE) are expected to rise over FY20-23 due to rising earnings per share and free cash flow from operations. Some of the stocks in the list included Power Grid, NHPC, Oil India, NMDC, BEL, ONGC, Coal India and NTPC.

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Jet Airways may resume operations in summer of 2021: Report
Wed, Dec 2, 2020 12:49 PM

Jet Airways may resume operations in summer of 2021: Report

Jet Airways, which was grounded in April 2019, might resume operations as a full-service airline in the summer of 2021. The airline will connect European and West Asian cities with Delhi, Mumbai, and Bengaluru, Business Standard reported. The Kalrock Capital-Murari Lal Jalan consortium, the new owners of Jet Airways, will keep the company listed on stock exchanges, the report said.

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Tata Group is reportedly nearing a deal to buy BigBasket
Wed, Dec 2, 2020 12:47 PM

Tata Group is reportedly nearing a deal to buy BigBasket

The Tata Group is in advanced talks to buy as much as 80% of BigBasket in a deal that is likely to value the local online grocer backed by Alibaba Group Holding Ltd. at about $1.6 billion, a person familiar with the matter said. The conglomerate is now negotiating how much stake it would purchase in Innovative Retail Concepts Pvt., which is commonly known as BigBasket.com, the person said.

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SpiceJet to give logistical support to disribute covid vaccine
Wed, Dec 2, 2020 12:39 PM

SpiceJet to give logistical support to disribute covid vaccine

SpiceJet is gearing up to give logistical support to help people get vaccinated as pharma companies are speeding up the manufacturing of vaccines. The temperature sensitivity to maintain efficacy of the vaccine calls for reliable, fast and secure logistics partners. SpiceXpress, the dedicated cargo arm of SpiceJet, has come forth to take up the responsibility through a specialised service.

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Burger King raises Rs 364 crore from 55 anchor investors ahead of IPO
Wed, Dec 2, 2020 7:30 AM

Burger King raises Rs 364 crore from 55 anchor investors ahead of IPO

Quick-service restaurant chain Burger King India has raised Rs 364.5 crore from 55 anchor investors on December 1, ahead of its public issue opening. "The IPO Committee and the promoter selling shareholder in consultation with merchant bankers have finalised allocation of 6,07,50,000 equity shares to anchor investors," the company said in its filing to exchanges.

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