India’s retail inflation declines to 6.93% in November
India’s retail inflation, which is measured by the Consumer Price Index (CPI), declined to 6.93% in November. The CPI for the month of October was 7.61%. Vegetable inflation for November came in at 15.63%, oils & fat at 17.86%, and meat & fish at 16.67%. The RBI expects retail inflation to ease to 5.4% in the third quarter and 4.5% in the fourth quarter of FY2021.
India’s inflation based on the wholesale price index (WPI) increased to 1.55% in November, as manufactured products turned costlier. The WPI inflation was 1.48% in October 2020.
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Reliance Jio asks TRAI to take strict action against Vi, Bharti Airtel for spreading rumors
Reliance Jio has asked the Telecom Regulatory Authority of India (TRAI) to take strict action against Vodafone Idea (Vi) and Bharti Airtel for resorting to “unethical” ways and spreading “frivolous rumors” that Jio will gain from the Farm Bills. The company stated that retailers in certain cities in Punjab and NCR have seen an increase in customers porting out of Reliance Jio and joining either Vi or Bharti Airtel. This comes on the back of more than 50,000 farmers calling for a national boycott of Reliance products, including Jio Sim cards and phones.
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Infosys partners with El Paso Water for customer service transformation
Infosys Ltd has entered into a strategic partnership with El Paso Water to improve the latter’s customer service systems. The IT major will help transform EP Water’s legacy customer information systems (CIS) with Oracle Utilities Customer to Meter (C2M). EP Water stated that this project will help them increase efficiency and customer satisfaction. EP Water is a municipal utility in El Paso, Texas.
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Tata Sons, Air India employees submits expression of interest for struggling airline
As per reports, Tata Sons, US-based Interups Inc, and a consortium of Air India employees have placed an expression of interest (EoI) for the national carrier (Air India). Air India’s employee group, which consists of 219 members, submitted a bid to purchase 51% of the loss-making state-owned carrier. Today is the last day for submission of expression of interest. According to the latest government notification, the qualified institutional bidders (if any) will be invited to start bidding for the airline from December 28.
Burger King India’s share debut becomes biggest since 2017
The shares of Burger King India Ltd surged 131% on its first day of trading, making it one of the biggest share debuts since Aston Paper & Board Ltd in 2017. The company’s stock began trading at Rs 115, which was a 92.25% premium against its issue price of Rs 60. With restaurants reopening and vaccines on the way, investors are betting that Indians will be thronging fast-food chains.
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Schindler partners with L&T Tech for digital & engineering transformation
L&T Technology Services (LTTS) said that it has been selected by Schindler as one of its key partners to provide innovative digital engineering capabilities. LTTS will provide product development, innovation, and engineering solutions that will help Schindler to accelerate its digitization and connectivity initiatives. The Schindler Group is a Swiss multinational company that manufactures escalators, moving walkways, and elevators.
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Delta Corp receives approval for resort in Goa
Delta Corp Limited has received in-principle approval from the Goa Investment Promotion and Facilitation Board for setting up an integrated resort. The company stated that its new resort in Pernem (Goa) will consist of hotels, convention centres, multiplex cinema halls, a retail area, an electronic casino, a water park, and other facilities. Delta Corp is the only listed company engaged in the casino (live, electronic, and online) gaming industry in India.
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L&T Construction secures contracts worth up to Rs 2,500 crore
Larsen & Toubro Ltd’s construction arm said that it has secured contracts in the range of Rs 1,000 crore- Rs 2,500 crore for its various businesses. The orders were secured from clients for two of L&T Construction’s businesses: Building & Factories (B&F) Business and Power Transmission & Distribution Business. The company has also secured a design & build order from a reputed client to construct a multi-specialty hospital at Nagpur.
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Ramco Systems bags multi-million dollar orders from foreign companies
Ramco Systems Ltd announced that its various businesses have signed multi-million dollar agreements with multiple companies based in Europe, Asia, and America. However, the company did not disclose the value of the orders. Ramco Aviation, Aerospace & Defense signed an agreement with a leading European MRO (Maintenance, Repair & Overhaul) to digitally transform their business. Ramco ERP has signed an agreement with Agrifields DMCC for providing modules for inventory, procurement, production, and maintenance for its operations in the Philippines.
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KEC International secures orders worth Rs 1,438 crore
KEC International Ltd announced that it has secured orders worth Rs 1,438 crore across its various businesses. The company’s railways business has secured orders worth Rs 475 crore in the urban infrastructure segment in India. KEC’s civil business has secured orders of Rs 383 crore for infra works from reputed private players in the chemical and cement segments. The cables business has secured orders of Rs 218 crore for various types of cabling projects in India and overseas.
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