Chalet Hotels and Marriott launches second 168-room hotel, managed & operated by an all-women team at ‘The Westin Hyderabad Hitech City’

Hotel reception

On Monday 5th June, Chalet Hotels announced the launch of its second hotel in Hyderabad i.e. The Westin Hyderabad Hitech City. Chalet Hotels Limited launched The Westin Hyderabad Hitech City hotel in partnership with Marriott International. Read Also: NSE changes the expiry day of Nifty Bank F&O contracts from Thursday to Friday from July 14 … Read more

RBI to withdraw ₹2000 banknotes from circulation; Notes to be exchanged in banks from May 23

INR 2000 notes

On 19 May 2023, the Reserve Bank of India (RBI) announced that the ₹2000 banknote has now been withdrawn from circulation. The ₹2000 banknote was introduced after the Narendra Modi-led government demonetised the ₹500 and ₹1000 denomination banknotes on 8 November 2016. The ₹2000 banknote was introduced under Section 24(1) of the Reserve Bank of … Read more

Cipla signs binding term sheet to sell its entire stake in Saba Investments; Deal worth US$6.50 million

Indian rupee notes

Indian multinational pharmaceutical company Cipla Limited announced the sale of its entire stake in Saba Investments Limited on 15 May 2023. Saba Investments Limited is a UAE-based Joint Venture between Cipla Limited and Shibam Group Holding Limited. Read Also: Tech Mahindra Ltd approves proposal to increase stake in Tech Mahindra Arabia Ltd to 80% by … Read more

Tech Mahindra Ltd approves proposal to increase stake in Tech Mahindra Arabia Ltd to 80% by acquiring additional 29% shares; Acquisition cost $11.1 million

Tech Mahindra headquarter in Mumbai city, India

Late night on Thursday 4 May, Tech Mahindra Limited (TechM) announced that it has approved a proposal to increase the stake to 80% by acquiring an additional 29% equity shares in Tech Mahindra Arabia Limited (TechM Arabia). Tech Mahindra is an Indian multinational information technology services and consulting company that enables digital transformation, consulting and … Read more

Adani Ports Approves Tender Offer to Purchase Up to $130 Million in Cash in the Aggregate Principal Amount of the Outstanding 3.375% Senior Notes

Indian billionaire Gautam Adani addresses delegates during the Business Summit in Kolkata

Adani Ports and Special Economic Zone Limited (APSEZ): On Monday, April 24, Adani Ports said the company has launched a cash tender offer for up to US$130 million in the aggregate principal amount of 3.375% senior notes outstanding due 2024. About 39% of Adani Group’s total debt is in foreign currency bonds. Adani Ports is … Read more

Reliance Industries Q4 FY23 results: Revenue grew by 2.8% YoY to ₹ 239082 cr; Net profit increased by 18.3% to ₹ 21327 cr

Reliance Smart Mall in Mumbai, India

Reliance Industries on Friday released its January-March quarter i.e. Q4 FY23 results. Reliance Industries’ Q4 revenue and net profit beat market estimates. The consolidated revenue of Reliance Industries grew by 2.8% YoY to ₹ 2,39,082 crore in Q4 FY23, while the company’s net profit grew by 18.3% to ₹ 21,327 crore. Reliance Jio’s ARPU (average … Read more

Reliance to demerge fin services arm and list Jio Financial Services on exchanges, RIL shareholders to get 1:1 shares

share price on the screen

On Friday 21 October, Reliance Industries Limited (RIL) announced that it would soon demerge its financial services business to form a new company Jio financial services limited (JFSL). Reliance Strategic Investments Limited (RSIL) is a wholly-owned subsidiary of Reliance Industries Limited (RIL) which currently carries out its business of providing loans to merchants and consumers. … Read more

Vedanta and Foxconn to set up semiconductor and display fab units in Gujarat with investment of Rs 1.54 trillion, MoU signed

Semiconductor chips are seen on a circuit board of a computer in this picture

On Tuesday 13 September, the joint venture between Vedanta and Taiwan base Foxconn Group announced that it will open a new semiconductor and chip manufacturing plant in Gujarat. Vedanta is the third company to announce a chip plant in India. Earlier Singapore-based IGSS Ventures signed an MoU (Memorandum of understanding) with the Tamil Nadu state … Read more

Adani Group acquires 29.18% stake in NDTV and Open offer for additional acquisition of 26%

Indian billionaire Gautam Adani addresses delegates during the Business Summit in Kolkata

Indian billionaire Adani Group has acquired a 29.18% stake in media company NDTV (New Delhi Television Limited), but Adani owns this stake indirectly in NDTV. NDTV is one of India’s leading news channels which operates many national channels like NDTV India, NDTV 24×7 and the company also runs an online news website. In 2009 NDTV … Read more

Mahindra & Mahindra Ltd Launches the All-New Scorpio-N

Mahindra & Mahindra Limited's all-new Scorpio-N parked on the road

On 20 May 2022 Mahindra & Mahindra Limited announced that they will launch the all-new ‘Scorpio-N’ brand new of the much-awaited SUV segment. The all-new ‘Scorpio-N’ comes with automatic and manual transmission and is powered by diesel and petrol engines with prices starting at Rs 11.99 lakhs. The company said that their new SUV Scorpio-N … Read more