COMPANIES & SECTORS


The Supreme Court on Tuesday agreed to list a plea by SFIO (serious fraud investigation office) challenging a Delhi High Court (HC) order, which stayed the investigation into companies related to the Sahara group.   A plea by SFIO said: "The petitioner SFIO has filed the captioned...

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Tech billionaire Elon Musk on Tuesday said that the $44 billion Twitter deal "cannot move forward" until the micro-blogging site's CEO Parag Agrawal proves the bot numbers.   In a series of tweets, Musk mentioned that the CEO publicly refused to show proof of less than 5 per cent of...

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Moneylife Digital Team 16 May 2022
Over the past two fiscals, the COVID-19 pandemic has changed the dynamics of many an industry. The passenger vehicles segment is one such. During the past fiscal, passenger cars priced Rs10 lakh (Rs1 million) and above sold five times faster than the cars in the lower price segment, says a...

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The Adani family, through an offshore special purpose vehicle (SPV), announced that it had entered into definitive agreements for the acquisition of Switzerland-based Holcim Ltd's entire stake in two of Indias leading cement companies -Ambuja Cements Ltd and ACC Ltd.   Holcim, through...

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Tesla and SpaceX CEO Elon Musk has decided to visit Indonesia in November this year, as he reportedly wraps up Tesla operations in India amid continuous requests from top ministers and senior politicians to come and manufacture electric cars in the country.   The Indonesian government...

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After saying that he is putting $44 billion Twitter deal on hold till he gets to know how many fake or spam accounts are present on the platform, Tesla CEO Elon Musk on Friday said that he is still commited to the $44 billion acquisition.   "Twitter deal temporarily on hold pending...

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Moneylife Digital Team 12 May 2022
Supply factors are likely to limit near-term growth opportunities for Indian renewable power generators, stemming from the country's current heatwave and high fossil-fuel prices. Nonetheless, their medium-term prospects remain strong and are supported by government policies to diversify...

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As the electric e-scooter maker Ola Electric faces government scrutiny and consumer complaints, a couple of its top-notch executives have quit, the latest being its chief marketing officer Varun Dubey.   The company confirmed to IANS that Dubey is leaving the company due to "personal...

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JSW group is expected to make a US$7bn (billion) bid for Holcim AG's Indian subsidiaries Ambuja Cements Ltd and ACC Ltd, the Financial Times reported.   The company will offer US$4.5 billion in its own equity and US$2.5 billion from undisclosed private equity partners for the bid, JSW...

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Moneylife Digital Team 10 May 2022
Reliance Industries Ltd (RIL)'s net leverage will remain below 1.0 times in the medium term on strong cash-flow generation across its business segments, even as the India-based conglomerate increases investments in the new energy and new materials business, says a research...

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Moneylife Digital Team 10 May 2022
The momentum in housing demand across India's top-6 cities is expected to continue this fiscal and grow 5%-10% despite rising property prices, interest rates and a high-base effect, says a research note.   Aniket Dani, director of CRISIL Research, says, "We expect residential real...

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Fintech platform Razorpay on Tuesday announced its fourth and largest employee stock ownership plan (ESOP) buyback sale for 650 existing and former employees for a $75 million (nearly Rs 578 crore) transaction.   To date, Razorpay has helped 1,940 employees create wealth across...

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Leading fintech platform BharatPe on Tuesday said it has initiated necessary action against the company's former founder Ashneer Grover to "claw back his restricted shares as per the shareholders' agreement" and will take all steps to enforce its right under the law.   As part of its...

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Moneylife Digital Team 09 May 2022
Domestic steel prices are showing signs of fatigue after a relentless rally over the past two years following supply disruptions, de-carbonisation measures globally, especially in China, and geopolitical risks stemming from the Russia-Ukraine war, which has driven up raw materials costs, says...

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Larsen & Toubro Limited as the promoter will own 68.73 per cent stake in the combined entity created by the merger of Mindtree and L&T Infotech (LTI).   Mindtree, a leading digital transformation partner with market cap of Rs 578.4 billion will merge into LTI, a global technology...

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Moneylife Digital Team 05 May 2022
Newspaper readers in the mainline media were surprised at a huge, quarter page advertisement in big, double spaced type offering an unconditional and unreserved apology to Azim Premji of Wipro, Yasmee Azim Premji and others in the group. The advertisement mentions that the apology is being...

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Moneylife Digital Team 05 May 2022
Retail auto sales in April 2022 continue to show higher numbers due to a low base. However, compared with the pre-COVID month (April 2019), auto sales in April this year are down 6%, says the Federation of Automobile Dealers Associations (FADA).   According to FADA, auto retail sales...

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In a major crackdown against a reality firm, the Haryana Real Estate Regulatory Authority (HRERA) on Tuesday issued arrest warrants against the directors of Ansal Housing Corporation Ltd, besides issuing summons to its managers for failing to deliver a housing unit on time and for not...

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The National Company Law Tribunal has issued notice to Emaar India Ltd, asking it to file a status report on a plea filed by its erstwhile joint venture partner MGF Developers Ltd.   The respondent (Emaar) is directed to file a status report of any major decision taken by it,...

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The central bureau of investigation (CBI) has recovered incriminating documents from the premises of three top realtors—Shahid Balwa, Avinash Bhonsle and Vinod Goenka—in Mumbai and Pune during raids in connection with Yes Bank-DHFL scam.   The federal probe agency had arrested Sanjay...

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