Bharti Airtel conducts cloud gaming session on 5G trial network
Bharti Airtel has successfully conducted India’s first cloud gaming session in a 5G environment. The demonstration was conducted in Manesar, Gurgaon, as part of the ongoing 5G trials using spectrum allotted by the Department of Telecommunications (DoT). Cloud gaming enables users to stream and play games in real-time without having to download or invest in gaming hardware. Bharti Airtel stated that cloud gaming will be one of the biggest use cases of 5G, given the combination of high speed and low latency (no lag).
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Tata Power to set up 330 MW solar project in Madhya Pradesh
Tata Power Saurya Ltd (TPSL), a wholly-owned subsidiary of Tata Power, has received a Letter of Award (LoA) from Rewa Ultra Mega Solar to build a 330 megawatt (MW) solar project in Neemuch Solar Park in Madhya Pradesh. The project has been awarded through tariff-based competitive bidding, followed by an e-reverse auction. The energy from the project will be supplied to the Indian Railways and Madhya Pradesh Power Management Company Ltd under a power purchase agreement (PPQ) valid for 25 years.
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Infosys Springboard to offer digital reskilling to over 1 crore people by 2025
Infosys Ltd has launched Infosys Springboard to accelerate its digital reskilling initiatives and expand it to over 1 crore students and professionals by 2025. The program offers a virtual platform to deliver corporate-grade learning experiences for learners, ranging from school and college students to professionals and adults. Nearly 4 lakh learners and over 300 education institutions, NGOs, and support groups are part of the initiative. Infosys Springboard comes under the IT firm’s corporate social responsibility (CSR) initiatives.
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Just Dial’s board approves allotment of 2 crore shares to Reliance Retail
The Board of Directors of Just Dial Ltd has approved the allotment of 2.12 crore equity shares to Reliance Retail Ventures Ltd (RRVL). The allocation has been done at Rs 1,022.25 per share through preferential allotment on a private placement basis. Following this, RRVL holds 40.98% of the total paid-up equity share capital of Just Dial. To learn more about the deal, click here.
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Adani Green Energy raises $750 million via green bonds
Adani Green Energy Ltd (AGEL) has raised $750 million (~Rs 5,475 crore) through the issuance of green bonds. The bond issue was oversubscribed 4.7 times. The funds will be utilised towards meet the capital expenditure requirements for AGEL’s renewable projects that are under construction. With this bond issuance, AGEL has completed the final phase of its capital management plan. The company now has a fully-funded program for both debt and equity to achieve its target of 25 gigawatts (GW) of renewable energy capacity by 2025.
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M&M to cut production by 25% due to semiconductor shortage
Mahindra & Mahindra Ltd (M&M) will observe ‘No Production Days’ of around 7 days in September as its automotive division continues to face supply shortages of semiconductors. This move is estimated to result in a reduction in production volumes of the automotive division by 20-25% in September. M&M’s revenue and profitability will be impacted in line with the fall in production volumes.
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Bajaj Healthcare to commence production of Nimesulide API
Bajaj Healthcare Ltd will start commercial production of Nimesulide Active Pharmaceutical Ingredient (API) at its Tarapur unit in Maharashtra on Sept 3. The company has received approval from FDA Maharashtra to manufacture and market Nimesulide API as an approved medication for pain relief and prevention of fever in India. The total installed capacity of the Tarapur unit is 111 metric tonnes (MT) per month.
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BLS International gets ePassport renewal contract from Philippines Dept of Foreign Affairs
BLS International Services Ltd has signed a contract with the Philippines Department of Foreign Affairs to provide ePassport renewal services in Italy, Qatar, and Malaysia. The company will simplify the application procedure and shorten the overall application processing time, thus contributing to improved customer service. BLS International Services is an outsourcing service provider for government and diplomatic missions worldwide.
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Natco Pharma launches generic cancer drug in Canda
Natco Pharma (Canda) Inc., a subsidiary of Natco Pharma, has launched generic Nat-Lenalidomide capsules in the Canadian market. The drug is used for the treatment of multiple myeloma (cancer that forms in a type of white blood cell called a plasma cell). It is a generic alternative to Revlimid, which is to be approved by Health Canada. The launch of the product represents an important milestone in Natco Pharma’s continued efforts to expand its product portfolio.
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Ahluwalia Contracts secures order worth Rs 229 crore from WBHIDCO
Ahluwalia Contracts (India) Ltd has received an order worth Rs 229 crore from West Bengal Housing Infrastructure Development Corporation (WBHIDCO). The order is for the construction of an affordable housing project in Kolkata. Ahluwalia Contracts is a construction company based in New Delhi. Its project portfolio includes residential and commercial complexes, hotels, hospitals, corporate offices, IT parks, and institutional buildings.
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Exports rise 45% YoY in August to $33.14 billion
India’s merchandise exports stood at $33.14 billion in August 2021, an increase of 45.17% over the corresponding month last year. Total exports during April-August this year rose 66.92% YoY to $98.05 billion. Meanwhile, imports increased by 51.47% YoY to $47.01 billion in August. The trade deficit during the month stood at $13.87 billion, compared to $8.2 billion in the year-ago period. The data was released by the Ministry of Commerce & Industry.
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