Business news India: Latest India business news headlines today 10 May 2022
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Here’s today business news, the latest business news India today 10 May 2022.
- Sensex closes at 54,470.67 points and NIFTY at 16.301.85 points.
- Bids to procure 4.53 million tonnes of imported coal for blending with domestic dry fuel in thermal plants have been invited by NTPC.
- The free cash flows of Reliance Jio have plunged to 82% on year in FY 22 due to higher expected CAPEX and an increase in working capital.
- GAIL India Ltd. and other companies have recently purchased discounted LNG from Russia while others are shunning it due to the Russia-Ukraine crisis.
- More than Rs 1600 crore has been spent by Coal India Ltd on corporate social responsibility projects in the last three years.
- TA Associates has invested around ₹ 2,000 crores in the acquisition of a significant stake in Zifo RnD Solutions.
- A penalty of Rs 58 lakhs has been imposed by RBI on Abhyudaya Co-operative Bank Limited for non-compliance with several norms related to NPA and others.
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- German Airlines Lufthansa is planning to increase its presence in India with increased flights and partnerships with Indian airlines, especially Tata airlines.
- PM Modi will be virtually launching Madhya Pradesh’s start-up policy on the 13th of May.
- Ruchira Green Earth aims for Rs 500 crore revenue by 2025 driven by pent-up demand for lithium-ion batteries in the growing EV space.
- Reliance Brands Ltd has entered into a long-term franchise agreement with SpA with an aim to become an official retailer of Italian luxury lifestyle brands across India.
- The Indian Overseas Bank has revised the Repo Linked Lending Rate to 7.25% to be effective from May 10, 2022.
- As per the stock exchange data, the IPO of Life Insurance Corporation of India was subscribed by 2.95 times and the government aims to mobilize Rs 21000 crore from it.
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- A new UK India Industry Taskforce has been launched to push the UK-India Free Trade Agreement.
- Adani Airport Holdings Ltd. has raised $250 million from Standard Chartered and Barclays Bank.
- HCL Technologies to acquire Quest Informatics Private Limited for Rs 15 crore in an all-cash deal.
- MG Motor India has reported cumulative sales of 1 lakh units in India in the last three years since the unveiling of the first vehicle.
- SEBI has approved for proposal of TVS Supply Chain Solutions Ltd for its Initial Public Offer comprising a fresh issue of Rs 2,000 crore and an offer for sale of up to 595 lakh equity shares.
- PayCraft Solutions Pvt Ltd aims to roll out an NCMC-enabled retail corporate prepaid cards and expense management platform for making payments during transit travel.
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