The Renault Formula One team will race as Lotus Renault GP next year under a long-term partnership with the Malaysian-owned sportscar company, who will also become co-owners, both sides announced on Wednesday.
Sensex climbs higher at close, bluechip stocks in focus.
A day after the government referred its $9.6 billion deal to a panel of ministers; UK's Cairn Energy Plc on Thursday said it has extended the deadline for completion of the sale of a majority stake in its Indian unit to Vedanta Resources by over a month to May 20.
Campaigners from Hamburg-based (Germany) think-tank World Future Council, along with British charity ActionAid, protested against the Church of England and Middlesbrough Borough Council on Monday for investing their pension funds in UK-based metals and mining company Vedanta Resources Plc (with an $8-billion group turnover), whose reputation for trampling human rights and alleged unclean mining practices has been questioned before.
Ambani said Reliance raised Rs 1.15 lakh crore from global tech investors by selling a little less than a quarter of the firm's digital arm, Jio Platforms Ltd, and another Rs 53,124.20 crore through a rights issue.
London-listed mining group Vedanta Resources is running against time to close a USD 9.6 billion deal to acquire majority stake in Cairn India as government approval for the transaction is held up due to issues raised by state-owned ONGC.
Aviva tries a new tool with Sachin Tendulkar to grab a bigger share of the life insurance market.
Under the 2007 agreement between Vodafone and Essar, the latter has a put option of divesting its stake in the telecom venture.
The exploration company will buy back shares from January 23 and extinguish them.
Former Telecom Minister Dayanidhi Maran, his brother Kalanithi Maran and four others were on Friday chargesheeted by the Enforcement Directorate in the Special 2G court.
Glaxo Group 'neglected the duty of making timely disclosures' to the stock exchanges the BSE and the NSE, on various occasions, the Securities and Exchange Board of India said in its order.
Reliance Industries shareholders will have to pay only 25 per cent for subscribing to the company's mega Rs 53,125-crore rights issue, and the balance will have to be paid in two instalments in May and November next year, the company said.
Transparency is more than welcome, but govt should not look vindictive.
While UK's Vodafone Group fights its tax liability in courts, British firm Cairn Energy Plc on Wednesday said it will pay all taxes due, both in India and the United Kingdom, on the $8.48 billion sale of a majority stake in its Indian arm to Vedanta Resources.
The UK-based Cairn Energy on Monday said it will sell 51 per cent stake in its Indian unit to mining firm Vedanta Resources Plc for $8.48 billion.
BP Plc, the British energy company, has joined the race to acquire a majority stake in Canadian oil-sand major, Value Creation, with an offer of $1.2 billion. Though the offer is less than Reliance Industries' $2-billion acquisition proposal, given on February 5, agencies reported that BP might set up a joint venture with the Canadian group, and increase its oil-sand holdings by as much as 50 per cent.
The Indian firms will develop the Carabobo-1 block in Venezuela's Orinoco Belt with Spain's Repsol YPF SA and Malaysia's Petroliam Nasional Bdh, ONGC said.
Reliance announced a rights issue of Rs 53,125 crore, which it said was the biggest in India.
The sale of Essar Oil was India's biggest deleveraging exercise undertaken by any debt-heavy group
The Income Tax department, which is probing Cairn Energy plc's transfer of India assets, has asked the UK-based company not to dispose of its 10.3 per cent holding in Cairn India.
The reshaping programme has been announced to combine and streamline group's three global research and development operations into one Unilever R&D organisation to improve efficiency, a company statement said.
The company raised Rs 53,124 crore through a rights issue and sold nearly 33 per cent stake in Jio Platforms Ltd - the firm that houses telecom business and apps - to likes of Facebook and Google for Rs 152,056 crore.
Foreign banks set the template in consumer banking in its infancy, but have almost vacated this booming space.
Our partnership with ICICI Bank continues to remain strong. We have an exceptional relationship with them, says group CEO of Prudential.
Minister of State for Petroleum and Natural Gas Jitin Prasada, who led the roadshows in the US and Canada, said the roadshows for 70 blocks offered in NELP-VIII and 10 coal bed methane blocks received overwhelming response from investors.
After Vodafone, UK-based Vedanta Resources Plc and Aditya Birla group firm Indian Rayon also face a potential tax demand of around Rs 900 crore and Rs 45 crore, respectively, for their failure to deduct taxes on payments to buy Indian assets, said a senior government official.
Tata Technologies Ltd is all set to acquire a UK-based INCAT International Plc.
"If we are not getting anything then I think it is end of story for Vodafone Idea," Kumar Mangalam Birla said at the HT Leadership Summit when asked about the future of Vodafone Idea in absence of a government relief on payment of Rs 53,038 crore dues.
The company has entered into an exclusive franchise agreement with Tata group's retail venture Trent, which will help in driving the latter's hypermarket format Star Bazaar. Tesco plans to develop new wholesale outlets, which will offer a range of food, grocery and non-food products to small retailers, restaurants, kirana stores and other businesses.
In a regulatory filing, Reliance -- the country's most valuable company - said, 'The 43rd AGM will be held on Wednesday, July 15, 2020 at 2 pm though video conferencing / other audio-visual means.'
IT major nears $100 bn m-cap, accounts for 61% of the group's combined valuation.
The company expects net proceeds of Rs 53,036.13 crore from the rights issue that opens on May 20 and closes on June 3.
Leading British cafe chain Costa Coffee, a part of the £1.8 billion Whitbread Plc, has entered into a joint venture with the RKJ Group for opening 300 outlets in India over the next six years with an investment of Rs 150 crore
Tesco proposal entailing investment of $110 million has been cleared, sources said after the FIPB meeting held in New Delhi.
Hiranandani Group's real estate investment firm, Hirco Plc on Thursday announced it will invest over Rs 1,000 crore (28.4 million pounds) in a commercial township development project near Mumbai.
The shareholders will also get one redeemable preference share in Vedanta Ltd
All directors, key officials, and shareholder speakers will be visible and audible and thousands of shareholders, including those from the US, UK, Canada UAE, Japan, HongKong, Singapore, Malaysia, and Australia, will be able to post their questions and eVote on resolutions.
Malaysian pay TV operator Astro All Asia Networks plc, owned by the country's richest man Ananda Krishnan, is eyeing entry into the Indian Direct to Home satellite television market
Albanese, 56, will take the helm on April 1.
The world's leading funds and financial institutions have invested in Unitech Corporate Parks Plc, the company that the Unitech Group floated last week at the London Alternative Investment Market.
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