Here’s today business news, the latest business news India today 8 March 2021.
- An affiliate of Warburg Pincus, Windy Lakeside Investment, will invest Rs.800 crores in Adani Ports for a stake of 0.49%.
- To improve the security, speed, and stability, Google is said to be working on speeding up the release cycle of Chrome updates to four weeks from the current six-week period.
- Kochouseph Chittilappilly, the founder of V-Guard, is set to launch an NBFC. V-Guard Industries is one of Kerala’s largest business empires.
- Around six companies, including Tata Motors, M&M, and Ashok Leyland are said to be looking to buy a 26% stake in BEML Ltd, a state-run defence equipment maker.
- An arbitral tribunal has ruled in favour of Zostel Hospitality, owner of Zostel Hostels and ZO Rooms, in a legal battle against the parent of Oyo Rooms, Oravel Stays. This may lead to shareholders of ZO Rooms owning 7% in Oyo.
- Sanjay Singal, the erstwhile promoter of Bhushan Power and Steel has filed a fresh application in the Supreme Court asking for a stay in the implementation of the resolution plan.
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- Future Group’s Kishore Biyani is planning to launch the ‘Made in India’ version of US-based Terra chips in India.
- End-user copper industry bodies have requested the Tamil Nadu government to find out a solution to restart operations at the Tuticorin plant of Sterlite Copper. The plant catered to approx. 40% of India’s total copper requirement.
- Reliance Home Finance is said to have defaulted on a loan of over Rs.40 crore from Punjab & Sind Bank although the company has enough cash and cash equivalent but cannot use it due to a court order.
- Embassy Office Parks REIT has received NCLT approval to restructure and simplifY ownership of its key portfolio assets, including Embassy TechZone and Embassy Manyata.
- DoT has proposed to replace outdated provisions of the Indian Telegraph Act and the Indian Wireless Telegraphy Act, which came into effect in 1885 and 1933, respectively before rolling out 5G.
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- Rashtriya Ispat Nigam Ltd is looking to raise around Rs.1,000 crores from the sale of its 22.19-acre land in Visakhapatnam.
- To facilitate planning listing for the next fiscal, the government has proposed to significantly increase the authorized capital of LIC to Rs.25,000 crores.
- Birla Sun Life is planning to raise Rs.5000 crores through IPO.
- PVR Limited is planning to invest around Rs.100-150 crores in setting up properties in the coming year.
- To start off its EV journey in India, Audi will launch its fully electric SUV e-Tron and crossover e-Tron Sportback in the next two to three months.
- Gujarat CM Vijay Rupani is said to have told that ArcelorMittal will invest around Rs.50,000 crores in Gujarat.
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