BUSINESS
LIC holding in Tech Mahindra increases to 8.8 per cent
Tech Mahindra Ltd provides a comprehensive range of IT services, including IT-enabled service, application development and maintenance, consulting and enterprise business solutions. In May, LIC had announced that its shareholding in Tata Power has increased from 5.917 per cent to 7.935 per cent of the paid-up capital of the said company.
Adani Group, the emerging leader in ESG
The compendium states how the portfolio of the companies are emerging as the leaders by setting higher standards in ESG across all its businesses. Adani portfolio of companies are committed to sustainable growth, capitalising on unprecedented opportunities. This growth is being shaped and influenced by the highest standards of responsibility across various aspects of its operations.
Government okays third revival package for BSNL with outlay of Rs 89,047 crore
It includes allotment of 4G and 5G spectrum for BSNL through equity infusion. The authorised capital of BSNL will be increased from Rs 1,50,000 crore to Rs 2,10,000 crore, official sources said. With this revival package, BSNL will emerge as a stable telecom service provider focused on providing connectivity to remotest parts of India.
'India's aircraft fleet doubled in past nine years, pvt investment to be over Rs 70k cr'
Unveiling the ongoing capital expenditure (capex) initiatives in the aviation sector, amounting to Rs 1 lakh crore, he said it is anticipated that the private sector will contribute approximately Rs 70,000 crore to this endeavor. Addressing a press conference here, Scindia said that domestic air travel in India has soared by an astonishing 130 per cent, with an estimated annual count of 145 million passengers exploring the country's skies.
Cabinet okays up to 10% hike in MSP of several commodities
Minister for Food and Consumer Affairs, Commerce and Textiles Piyush Goyal said that the government's top priority is to keep inflation in check and therefore, in recent times, it has increased procurement so that the common man does not feel the pinch while the entire burden of price rise is borne by the government.
Ford recalling 125K vehicles that could catch fire
All the vehicles being recalled are hybrid or plug-in hybrid versions, plus all three models share similar engineering, reports CNN.In a filing with the US National Highway Traffic Safety Administration (NHTSA),Ford stated that due to a manufacturing problem, the 2.5-litre gasoline engines can leak engine oil or gasoline vapour that can catch fire when they come into contact with hot parts in the engine compartment.
India, US to form monitoring group to review trade cooperation
This was decided during the inaugural meeting of India-US Strategic Trade Dialogue (IUSSTD), which was held in Washington D.C. on Tuesday. The Indian delegation was led by Foreign Secretary Vinay Mohan Kwatra, while the US delegation was co-led by Alan Estevez, the Under Secretary for Industry and Security, and Victoria Nuland, the Under Secretary of State for Political Affairs.
US SEC sues crypto exchange Coinbase
The SEC also charged Coinbase for failing to register the offer and sale of its crypto asset staking-as-a-service programme. According to the SEC's complaint, Coinbase has made billions of dollars unlawfully facilitating the buying and selling of crypto asset securities.
Apple acquires augmented reality headset startup Mira
According to The Verge, Apple has hired at least 11 of Mira's employees as part of the acquisition.
The report cited a private Instagram post by Mira CEO Ben Taft."Excited for Mira's next chapter, at Apple. Seven year journey from dorm room to acquisition," the post read.
Adani Group delivers record-breaking performance across portfolios; EBITDA grows at 36% to Rs 57,219 cr
The group, which has interests ranging from ports to airports, from electricity generation to transmission and distribution, from edible oil to FMCG products, logistics, cement and roads, recorded its highest ever EBITDA at the group portfolio level (all group companies combined) of Rs 57,219 crore, achieving a 36 per cent growth over.
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