PM Lays Foundation for Rs 19,100 Crore Projects in Bulandshahr
Prime Minister Narendra Modi launched a slew of development projects in Bulandshahr district in western Uttar Pradesh on Thursday, January 25, 2024. The projects, worth over Rs 19,100 crores, are related to several important sectors like rail, road, oil and gas, urban development and housing. Rail Projects One of the major projects that PM Modi […]
Adani Power Offloads Stakes to AdaniConnex for ₹540 Crore
Adani Power Ltd. has signed a preliminary deal to offload its entire stake in two subsidiaries, Aviceda Infra Park Ltd. and Innovant Buildwell Pvt. Ltd., to AdaniConnex Pvt. Ltd. for Rs 540 crore. The transaction is expected to be completed by March 31, 2024. What are the details of the deal? According to a filing […]
JSW Group Enters Defence, Buys Stake in Gecko Motors
JSW Group, a leading corporate conglomerate, has announced its entry into the defence sector with the launch of a new business vertical, JSW Defence and Aerospace (JSW Defence). JSW Defence has acquired a majority stake in an extreme off-road vehicle company, Gecko Motors Private Limited, now renamed as JSW Gecko Motors Pvt Ltd (JSW Gecko) […]
RBI Approves LIC’s Strategic Investment in HDFC
The Reserve Bank of India (RBI) has given its approval to the Life Insurance Corporation of India (LIC) to acquire up to 9.99% stake in HDFC Bank, one of the leading private sector banks in India. This strategic investment will strengthen the partnership between the two financial giants and create value for their customers and […]
Reliance Jio and OnePlus Establish 5G Lab in India
Reliance Jio, India’s largest telecom operator, has partnered with OnePlus, a premium smartphone maker, to establish a 5G Innovation Lab in India. The lab will serve as a hub for testing and developing new technologies that will unlock the full potential of 5G technology in India. Jio True 5G Network Jio claims that its True […]
SEBI Revamps Reporting for Designated Depository Participants and Custodians
SEBI, the securities market regulator in India, has issued a circular on January 25, 2024, to streamline the reporting requirements for designated depository participants (DDPs) and custodians of securities. The circular aims to have uniform compliance standards, ease of compliance reporting and better regulatory oversight. What are DDPs and custodians? DDPs are entities that are […]
Ranjan Pai Buys 40% Stake in Aakash Institute: Byju’s Lifeline?
Ranjan Pai, the chairman of Manipal Education and Medical Group, has bought a 40% stake in Aakash Institute, one of the largest test-prep businesses in India, owned by edtech giant Byju’s. The Aakash board has approved the conversion of Pai’s $300 million investment, made during 2023, into equity, valuing the company at around $700 million […]
Glenmark, Jiangsu Alphamab, 3D Medicines Sign Cancer Drug Pact
Glenmark Pharmaceuticals Ltd., a leading Indian drugmaker, has secured an exclusive license to develop and commercialize a novel cancer drug in several emerging markets. The drug, known as Envafolimab or KN035, is a subcutaneous injection of PD-L1 antibody that can be administered at home or in outpatient settings. Envafolimab is being developed by Jiangsu Alphamab […]
Airtel Surpasses Jio in Fixed Broadband Speed: Opensignal
According to Opensignal, an internet analytics company, Airtel Xstream broadband has outperformed JioFiber in terms of download speeds and quality of service for fixed broadband users in India. The report, based on data collected from December 2022 to February 2023, reveals that Airtel Xstream broadband is now ahead of JioFiber in the Broadband Download Speed […]
GSTN: Submit Bank Details in 30 Days to Avoid Suspension
The GST Network (GSTN) has issued an advisory to GST-registered businesses to furnish their bank account details within 30 days of grant of GST registration or before the due date of filing GSTR-1/IFF, whichever is earlier, to avoid suspension of their GSTIN. Why is it important to submit bank account details? According to the GST […]