Air Quality Commission directs switching over of all industries in Delhi to PNG

The Commission for Air Quality Management in NCR and Adjoining Areas has directed all industrial units in Delhi to switch over to piped natural gas (PNG) by January 31. The Commission has also directed the Delhi Pollution Control Committee (DPCC) to inspect and identify industries using polluting fuels and take stringent penal action against those found violating the directive. IGL and GAIL have been directed to complete the pipeline network, metering, and associated infrastructure by January 31.

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Govt invites bids for selling its stake in Shipping Corporation of India

The Indian government has initiated the sell-off plan for Shipping Corporation of India Ltd (SCI), by inviting expression of interest from potentially interested parties. The government proposes to sell its entire shareholding of 63.75% in the listed entity to a buyer that will takeover the company with full management control. The deadline for submitting initial bids is on February 13, 2021. 

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Bajaj Auto to set up a Rs 650-crore unit in Maharashtra 

Bajaj Auto Ltd has signed a Memorandum of Understanding (MoU) with the Government of Maharashtra for Rs 650 crore, to set up a manufacturing unit in Chakan. The state government will facilitate Bajaj Auto in obtaining necessary permissions, registrations, approvals, clearances, and fiscal incentives from the concerned departments. The facility will be utilised for manufacturing high-end KTM, Husqvarna, and Triumph motorcycles. Bajaj Auto stated that the new facility is expected to commence production in 2023.

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Infosys partners with Daimler for IT infrastructure transformation

Infosys Ltd and German automotive major Daimler AG have entered a long-term strategic partnership for a technology-driven IT infrastructure transformation. With support from Infosys, Daimler AG will transform its IT operating model and infrastructure landscape across workplace services, data centers, and networks. The collaboration will also empower Infosys to strengthen its automotive expertise.

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Dr. Reddy’s seeks approval from Canada for Favipiravir pills for Covid-19 treatment

Dr. Reddy’s Laboratories Ltd, Canada-based Appili Therapeutics, and Dubai-based Global Response Aid FZCO (GRA) on Tuesday said that Dr. Reddy’s Canada has filed an application on behalf of the consortium for Reeqonus (favipiravir) Tablets. The tablets are indicated for acute treatment of mild to moderate Covid-19 adult patients. The application has been filed under Health Canada’s “Interim Order Respecting the Importation, Sale, and Advertising of Drugs for Use in Relation to Covid-19”.

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Embassy REIT raises Rs 3,680 crore to fund acquisition of Embassy Tech Village

Embassy Office Parks REIT has raised Rs 3,680 crore ($501 million) through an institutional placement of its units. The proceeds from this placement will be utilised to fund the REIT’s proposed acquisition of Embassy TechVillage (ETV), an information technology park in Bengaluru, for $1.3 billion (~Rs 9,602 crore). The transaction is expected to close by the end of this month.

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Oil India signs MoU with Assam Hydrocarbon 

Oil India Ltd, on Tuesday, signed a Memorandum of Understanding (MoU) with Assam Hydrocarbon & Energy Company (AHECL) in Guwahati. The company stated that the MoU is aimed at establishing a joint institutional framework to facilitate bilateral cooperation in hydrocarbon exploration, development, and marketing of natural gas in Assam for mutual benefit.

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Jubilant Foodworks introduces India’s first plant-protein based pizza

Jubilant Foodworks Ltd announced that Domino’s Pizza has introduced India’s first plant-protein based product – ‘The Unthinkable Pizza’. The company stated that Domino’s latest offering is 100% vegetarian, and yet, has the sensory properties of chicken. The pizza would be available at all Domino’s restaurants across Delhi NCR, Mumbai, and Bangalore. Jubilant Foodworks is the master franchisee for Domino’s Pizza in India, Nepal, Sri Lanka, and Bangladesh.

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NMDC signs MoU with MECL for joint mineral exploration

NMDC Limited has signed an MoU with Mineral Exploration Corporation Limited (MECL) for joint exploration for iron ore, gold, coal, diamond, and other minerals in mutually agreed projects across various states. This will support the government’s ‘Atmanirbhar Bharat Abhiyan’ initiative and extend its commitment towards mineral security for the nation. NMDC Ltd is India’s largest iron ore producing ‘Navaratna’ company.

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Aster DM Healthcare to invest $100 million to set up hospital in Cayman Islands

Aster DM Healthcare said it will invest around $100 million (~Rs 738 crore) to set up a tertiary care hospital in the Cayman Islands, as part of its plans to set up a clinical excellence hub in the region. The company stated that it has signed an agreement with the Government of Cayman Islands to set up a clinical excellence hub to serve the Caribbean Region, North America, Canada, and South America. Aster will initially develop around 150-bed tertiary and quaternary care hospitals in these regions.

Promoters of Wendt India withdraws its proposed OFS

Carborundum Universal and Wendt GmBH, the promoters of Wendt India Ltd, has decided to withdraw the proposed offer for sale (OFS) of shares. In a BSE filing, the Murugappa Group company said that due to delay in transfer of the sale shares as required under the SEBI OFS circulars, it has decided to withdraw the OFS. On Monday (21 December 2020), both promoters had proposed to sell up to 94,704 equity shares, or 4.74% stake of Wendt (India) via an OFS on 22nd and 23rd of December 2020. 

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