Here’s today business news, the latest business news India today 12 April 2021.
- Canada Pension Plan Investment Board and RMZ Corp. have entered into a JV for three office projects. Canadian fund will be investing $210 million.
- JC Flowers Asset Reconstruction is said to have emerged as the highest bidder for acquiring stressed loans of Sathavahana Ispat.
- Amazon India has launched a ‘Mentor Connect’ program, under which startups and emerging brands will be able to seek guidance from VC firms, industry veterans, and Amazon leaders.
- The board of Infosys will consider a proposal for the buyback of fully paid-up equity shares at its scheduled meeting on April 14, 2021.
- M&M would be investing around Rs.3,000 crores in EV business in the next three years.
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- UK’s Cairn Energy Plc has reportedly offered to forego USD 500 million and invest that amount in any oil and gas or renewable energy project identified by the Indian government if the Indian Government agrees to honour an international arbitration award.
- Franklin Templeton Mutual Fund will reportedly pay out another Rs.2,962 crores to investors who had put their money in the now frozen six debt schemes.
- Tatas are said to have terminated their around $2- billion investment deal with Malaysian state-owned oil and gas company Petroliam Nasional Bhd after year-long negotiations.
- Bharat Biotech is said to be working on scaling up the production of Covaxin to 12 million doses a month by July from the current 5 million.
- Due to the COVID-19 pandemic, RSH Global has deferred its plan of setting up a new manufacturing plant in Himachal Pradesh till early next year. The cost of the proposed plant is around Rs 100 crores.
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- Domestic traders’ body CAIT has requested PM Narendra Modi not to impose night curfew or lockdown and instead adopt staggered working time for different sectors.
- Union Minister Mansukh Mandaviya said that the Central government is looking to develop Bhavnagar in Gujarat as a container hub and has set up pilot projects for its manufacturing. The move is to increase indigenous production of containers due to a global increase in demand.
- DoT is likely to issue guidelines on the implementation of production-linked incentive (PLI) schemes within one week.
- Trai has extended the deadline for stakeholder to submit their suggestions on satellite-based connectivity for low-bit rate applications to April 23.
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