The Finance ministry of India has cleared a proposal to convert Vodafone Idea’s dues worth Rs 16,130 crore into equity. Vi now needs the telecom department to finalize the transaction.This is crucial for Vodafone Idea to finalize its external fundraise via equity. Vi is also talking to banks for debt financing, to invest in its
TCS announced that it has entered into a long-term agreement with Nokia, a global leader in mobile communications, to help transform its IT landscape. It will aim at consolidating Nokia’s global internal applications suite with a single provider. As a part of this engagement, TCS will work with Nokia in realizing its future IT roadmap,
Infosys will leverage next-gen technologies to support the product development initiatives of Spirit AeroSystems, one of the world’s largest manufacturers of aerostructures for commercial airplanes, defense platforms, and business/regional jets. Infosys and Spirit AeroSystems Co-innovate Aerostructure and Systems Engineering Services for product development of commercial, business jet and emerging aircraft programs, and Maintenance, Repair and
Kalpataru Power Transmission Ltd (KPTL) and its international subsidiaries have secured new orders/notification of awards of Rs 1,345 crore in the transmission and distribution (T&D) business. KPTL is currently executing projects in over 30 countries and has global footprints in 67 countries.
The government has identified eight fertiliser Public Sector Undertakings (PSUs) for strategic disinvestment: Rashtriya Chemicals & Fertilisers (RCF) National Fertilizers (NFL) Brahmaputra Valley Fertilizer Corporation (BVFCL) FCI Aravali Gypsum and Mineral (FAGMIL) Madras Fertilizers (MFL) Fertilizer Corporation India (FCIL) Fertilizers and Chemicals Travancore (FACT) Hindustan Fertilizer Corporation (HFCL) The names of these PSUs were discussed
Biocon divested a 5.4% stake in its research subsidiary, Syngene International in a bulk deal for a little over ₹1,220 crore. As per the bulk deal data on BSE, Biocon sold 21,789,164 equity shares of Syngene at ₹560.04 per equity share. The transaction stood at over ₹1,220.28 crore. Source: Livemint
The government is likely to invite preliminary bids for the strategic sale of NMDC’s Nagarnar Steel Plant by March-end. NMDC’s under-construction steel plant in Chhattisgarh is expected to commence operation this month, and once the demerger process of NMDC and Nagarnar Steel Plant (NSP) is complete, the Department of Investment and Public Asset Management (DIPAM)
Bharat Electronics Limited (BEL) has signed a Memorandum of Understanding (MoU) with Smiths Detection, a global leader in threat detection and security inspection technologies, for offering advanced, high-energy scanning systems to the Indian market. The MoU, signed for a period of five years and can be extended further by mutual consent, will leverage the high-end, technological capabilities of
Piramal Enterprises Ltd, the flagship company of Piramal Group, is keen to enter the credit cards space, after the Reserve Bank of India recently updated its norms enabling non-bank lenders to apply for a licence for the same.
Banco Products (India) has declared an equity dividend of 1000.00% amounting to Rs 20 per share. At the current share price of Rs 215.45 this results in a dividend yield of 9.28%
