Markets > Stock markets - India > SEBI
Sebi imposes Rs25-cr penalty on Ambani brothers and others for takeover rules violation
08 April 2021
The Securities and Exchange Board of India (Sebi) on Wednesday imposed a penalty of Rs25 crore on Mukesh Ambani, Anil Ambani and other individuals as also various entities belonging to the Reliance Group, for non-compliance of takeover norms in a two-decade-old share issue in the company.
The adjudicating officer (AO) of the Securities and Exchange Board of India (SEBI) imposed a joint penalty of Rs25 crore on Mukesh and Anil Ambani along with their family members for violation of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Economy > Infrastructure > Roads
MoRTH achieves record construction of 37 km per day of highways in FY21
05 April 2021
The ministry of road transport and highways (MoRTH) has achieved a milestone of constructing 37 kilometres of highways per day in year 2020-21, which is unprecedented. MoRTH has reported tremendous progress in building of national highways across the country in the last few years.
Minister for road transport and highways and MSME, Nitin Gadkari, last evening felicitated the officials of MoRTH and presented the letters of appreciation. The minister said that this would not have been possible without dedication and team work of the officials and other stakeholders. He said that these achievements are unprecedented and have no parallel in any other country in the world.
Industry > Industry monitor > Automobiles > Cars
01 April 2021
Indian auto majors Tata Motors, Mahindra & Mahindra and Marurti Suzuki saw exponential growth in sales compared to March last year. Tata Motors, Maruti Suzuki and Mahindra & Mahindra saw their sales more than double on a year-on-year basis.
The auto companies saw their sales recover after a year of sluggish sales due to the COVID-19 pandemic, so their full year growth was still slow compared to pre-pandemic years.
While the market has welcomed the recovery from the depths seen in 2020, the demand for automobiles in India is still far from its potential, according to analysts.
Firms/companies > R > Reliance Industries
Reliance Infra sells its Mumbai headquarters to Yes Bank for Rs1,200 cr in debt redumption
05 April 2021
The Anil Ambani-led Reliance Infrastructure has sold Reliance Centre, the premises housing the group’s headquarters, to Yes Bank for Rs1,200 crore as part of a debt repayment process.
Reliance Infrastructure Limited (RInfra) and Yes Bank Limited (Yes Bank) on Thursday announced the sale transaction of Reliance Centre, Santacruz, Mumbai to Yes Bank. The transaction value is Rs 1,200 crore, Reliance said in a stock exchange filing.
“Entire proceeds from the sale of Reliance Centre, Santacruz, is utilized only to repay the debt of Yes Bank”, as per the stock exchange filing.
Firms/companies > T > Telenor
08 April 2021
Norwegian teleom operator Telenor Group and Malaysia’s Axiata Group Berhad are in advanced discussions regarding a potential merger of their Malaysian mobile operations Digi and Celcom, in which the parties will have an equal ownership of 33.1 per cent each.
The new company will be a leading provider of telecommunication services in the country, with competence and scale to meet increasing expectations and demand from a digitally connected society.
The parties aim to create a leading telecommunication service provider in Malaysia with the capabilities to drive research and innovation and facilitate a platform for accelerated digital growth in the local ecosystem and the merged company will be well positioned for delivering industry innovation, high-quality connectivity and a diversified value proposition to the customers, Teenor stated in a release.