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Piramal Group completes acquisition of DHFL for Rs 34,250 crore Piramal Enterprises Ltd (PEL) has completed the acquisition of Dewan Housing Finance Corp Ltd. (DHFL) for a total consideration of Rs 34,250 crore. This includes an upfront cash payment of Rs 14,700 crore and issuance of debt instruments worth Rs 19,550 crore (10-year NCDs at […]
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Zee Entertainment announces merger with Sony Pictures Networks India The Board of Directors of Zee Entertainment Enterprises Ltd (ZEEL) has given in-principal approval for the company’s merger with Sony Pictures Network India. Both companies have entered into a non-binding term sheet to combine linear networks, digital assets, production operations, and program libraries. The merged entity […]
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Adani Group to invest $20 billion in renewable energy The Adani Group has announced plans to invest $20 billion (~Rs 1.47 lakh crore) over the next 10 years in renewable energy generation and component manufacturing. It also aims to produce the world’s cheapest green electron. Over 75% of the group’s planned capital expenditure (capex) until […]
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Cabinet approves 4-year moratorium on AGR dues, 100% FDI in telecom sector The Union Cabinet has approved a four-year moratorium on payment of spectrum dues by telecom companies. The government has also decided to allow 100% foreign direct investment (FDI) in the telecom sector. The Centre has decided to rationalise the definition of Adjusted Gross […]
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Zydus Cadila’s ZyCoV-D gets emergency use authorisation in India The Subject Expert Committee (SEC) of Central Drugs Standard Control Organisation (CDSCO) has recommended the Emergency Use Authorization (EUA) for Zydus Cadila’s Covid-19 vaccine, ZyCoV-D, in India. The three-dose vaccine is applied using a needle-free system known as Tropis, which can also lead to a significant […]
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SpiceJet seeks shareholders’ approval to hive off cargo, logistics business SpiceJet Ltd has sought permission from its shareholders to transfer its cargo and logistics business to its subsidiary, SpiceXpress. All related assets and liabilities, including trademark, licenses, franchises, customer contracts, and distribution network will be transferred on a slump sale basis to SpiceXpress. The airline […]
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Govt approves Rs 10,900 crore PLI scheme for food processing sector The Union Cabinet has approved the extension of a production-linked incentive (PLI) scheme for the food processing sector. An outlay of Rs 10,900 crore has been approved as incentives for domestic manufacturing in the sector. This PLI scheme will help create 2.5 lakh jobs […]
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Govt to sell entire 26.12% stake in Tata Communications The Indian government will sell its entire 26.12% shareholding in Tata Communications Limited (TCL). It will sell up to 4.59 crore equity shares (forming 16.12% shareholding) of TCL through an offer for sale (OFS) via stock exchanges. The remaining 10% stake will be sold to Tata […]
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India’s services PMI rises to 55.3 in February India’s services activity expanded at the fastest rate in a year in February. This was driven by an extended robust recovery in domestic demand. However, employment had fallen further and overall input costs increased last month. The IHS Markit Purchasing Managers’ Index (PMI) for services stood at […]
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Indian automakers fear container shortage to hit parts supply, output Automakers in India are bracing for a parts shortage and possible production losses over the next 3-4 months due to a global shortage of available shipping containers. The concern was put forth by the Society of Indian Automobile Manufacturers (SIAM). The trade body stated that […]

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