CCI approves Future Group-Reliance Retail deal
Competition Commission of India (CCI) has approved the much-anticipated Future Group-Reliance Retail deal. Commission approves acquisition of retail, wholesale, logistics & warehousing businesses of Future Group by Reliance Retail Ventures Limited and Reliance Retail and Fashion Lifestyle Limited.” Commission approves acquisition of retail, wholesale, logistics & warehousing businesses of Future Group by Reliance Retail Ventures Limited and Reliance Retail and Fashion Lifestyle Limited”, CCI posted on Twitter.
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Bharti Infratel gains 13% over completion of merger with Indus Towers
Bharti Infratel has completed its merger with Indus Towers which manufactures and maintains telecommunication towers and other network devices. After the merger, Vodafone which sold 11.5% of its stake in Indus Towers received ₹3,760 crores. Vodafone will continue to hold ~28% stake in the merged entity. The Board has appointed Bimal Dayal as the Chief Executive Officer of the merged entity
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SEBI asks Subrata Roy to pay up Rs 62,600 crore to avoid jail time
The Supreme Court of India in 2012 had ruled that Sahara group companies violated securities laws and illegally raised over Rs.26,000 crores. SEBI has now asked Subrata Roy to pay up Rs.62,000 crores after making additions and interest to the amount. Roy so far has deposited Rs. 15000 crores. Roy’s story was featured in the NetFlix series Bad Boy Billionaires.
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Vaccine to be ready by April 2021: Serum Institute CEO
Serum Institute of India’s CEO Adar Poonawalla on Thursday has said that the Oxford Covid-19 vaccine would be ready for healthcare workers and elderly people by around February 2021 and for the general public by April 2021. Serum Institute may sell covid-19 vaccine Covishield at around ₹500- ₹600 per dose in the private market.
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Gland Pharma Lists at 14% premium over issue price
Gland Pharma’s IPO was sold between November 9 and 11, was subscribed 2.06 times in a three-day bidding process, with the HNI and retail quotas undersubscribed. It made a strong market debut closing in at Rs.1,710, close to 14% above its issue price of Rs. 1500
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PM Modi, Bhutanese PM launch RuPay card Phase-II
Prime Minister Narendra Modi along with the PM of Bhutan Lotay Tshering jointly launched RuPay card Phase-II that will allow Bhutanese card holders to access the RuPay network in India. RuPay, just like Visa and Mastercard, is an Indian debit and credit card payment network which can be used at ATMs, payment counters, and for online transactions across India.
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Maharashtra May Stop Flights, Trains Coming From Delhi Due to rising Covid Cases
According to sources, the Maharashtra government is contemplating halting flight services from Delhi to Mumbai in the wake of rising COVID-19 cases in the national capital region. Train services between Delhi and Mumbai could also be stopped.
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Haryana Health Minister gets first Covaxin Dose as Bharat BioTech kicks off Phase III Testing
Haryana Health Minister Anil Vij was given the first trial dose of the COVID vaccine Covaxin at Civil Hospital, Ambala Cantonment. Covaxin, a potential Covid-19 vaccine, is being developed by Bharat Biotech jointly with the Indian Council of Medical Research (ICMR).
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Petrol, Diesel Price Hike For First Time In Two Months.
Global oil prices are up after almost a 2-month hiatus after multiple successful COVID-19 vaccines were announced. This has caused a hike in petrol and diesel prices across India.
The price of petrol has increased by 17 paise per litre in Delhi. In Mumbai, petrol prices went up from Rs. 87.74 per litre to Rs. 87.92, while diesel rates went up from ₹76.86 to ₹77.11.
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9 Apple Inc Units Shifted From China to India during COVID-19 Lockdown
Union IT minister Ravi Shankar Prasad Bengaluru at the Bengaluru Tech Summit said that during the COVID lockdown period nine operating units, along with component makers, shifted from China to India.
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