BUSINESS
GMR aviation arm enters Indonesia, to operate Kualanamu International Airport
The company entered into these agreements on Thursday with Angkasa Pura II (AP II), the state-owned enterprise and the bidding authority for the airport. On the same day, the company received the letter of award for the project, GMR Group said in a statement on Friday.
India engineering goods exports to China doubles in Nov: EEPC India
In November 2020, exports of such goods were worth $205.3 million, the council said. The US, however, remained the top buyer of Indian engineering goods at $1,196 million during the month, registering a growth of 36 per cent.
India's foreign exchange dip lower by $160 mn
The Reserve Bank of India's forex reserves decreased to $635.667 billion from $635.828 billion during the week ended December 10. India's forex reserves comprise foreign currency assets (FCAs), gold reserves, SDRs, and the country's reserve position with the IMF. On a weekly basis, FCAs, the largest component of the forex reserves, edged lower by $645 million to $572.216 billion.
Mumbai's Darwin Platform Infra Ltd wins bid for Pune's Lavasa city
The Committee of Creditors (CoC) of Lavasa Corporation voted and accepted a Rs 1,814 crore final Total Resolution Plan to revive the city. Darwin Platform Group of Companies Group Chairman Ajay H. Singh said that his company has an ambitious and long-term plan for Lavasa smart city. Last month, the DPIL had submitted a revised bid on its Resolution Plan and this month the CoC initiated the process to finalise the deals submitted by various applicants.
Equities close in red amid Omicron scare; realty stocks fall
However, positive global cues arrested a further fall in the key indices. The Sensex and Nifty settled at 57,124 points and 17,003 points, down 0.3 per cent and 0.4 per cent from their previous close, respectively. Among the stocks, NTPC, Eicher Motors, ONGC, and Mahindra & Mahindra were the top losers, declining 2.9 per cent, 2.5 per cent, 1.8 per cent, 1.7 per cent, 1.7 per cent, respectively.
India's series of interventions arrest domestic spike in palm oil prices
Widely used in edible oil blending, cosmetics, processed food products, and even in biofuel, palm oil's prices on Bursa Malaysia Derivatives is considered to be the global benchmark among trade circles. Crude palm oil prices on the BMD rose 27 per cent during the year-to-date period in 2021 to around 4,949 ringgits (Rs 88,443), while on Multi Commodity Exchange of India, it rose just over 10 per cent to Rs 1,115 rupees per 10 kg.
Omicron concerns subdue equity markets; power stocks fall
Rising domestic Omicron cases subdued India's key equity indices -- S&P BSE Sensex and NSE Nifty50 -- during Friday's late-after trade session. Initially, both the indices opened with an upgap, but fell thereby. Globally, Asian stocks were mixed after failing to harness a tailwind from the US.
Indian equities steady in early trade on Friday
At 9.30 a.m., Sensex and Nifty traded largely steady 57,340 points and 17,068 points, respectively. HCL Technology, SBI Life Insurance, Ultratech Cement, United Breweries were some of the top gainers during the early trade, exchange data showed.
Air France-KLM and IndiGo to start codeshare agreement
A codeshare agreement allows airlines to sell seats on each others' flights in order to provide passengers with a wider choice of destinations. With this new partnership, Air France and KLM will offer their customers access to 25 new Indian destinations. "From their hubs in Paris and Amsterdam, Air France and KLM already serve 4 destinations in India -- Delhi, Mumbai, Chennai and Bengaluru," a joint statement said.
GMR Group says NCLT approves non-airport demerger plan
"The Hon'ble National Company Law Tribunal, Mumbai Bench (Tribunal) has sanctioned the composite scheme of arrangement amongst GMR Power Infra Limited (GPIL), GMR Infrastructure Limited (GIL) and GMR Power and Urban Infra Limited (GPUIL) and their respective shareholders (Scheme) under Sections 230 to 232 of the Companies Act, 2013," the company said in a statement
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