Airtel: The shareholders of Airtel have approved the issue of preferential shares to Google for an investment of ₹7500 crores against a 1.28% stake.
Future Retail: The company has temporarily suspended most of its online and offline operations, as per reports.
Reliance Industries: The company has effectively taken over the operations of Future Retail stores and has offered jobs to its employees. Reliance Retail has started to take possession of the premises in which Future Retail is operating its stores such as Big Bazaar and replaced them with its brand stores, said sources close to the development.
Hindalco Industries: Hindalco in pact with Brazilian firm. The aluminium major has entered into a share-purchase agreement with Brazilian firm Terrabel Empreedimentos Ltda to divest its entire equity shareholding in Hindalco Do Brazil Industria Comercia de Alumina LTDA (HDB), the wholly-owned step down subsidiary.
Patel Engineering: Patel Engineering arm sells Nepal arm. Patel Energy Resources, the wholly owned subsidiary of the company, has divested its entire stake in Naulo Nepal Hydroelectric based in Nepal. With this, Naulo Nepal Hydroelectric ceased to be a subsidiary of the company.
Fortis Healthcare: Crisil upgrades Fortis Healthcare rating. Rating agency CRISIL has upgraded the long-term rating to ‘AA- from ‘A+’ for the private hospital chain and placed the rating on watch with developing implications. Further, the short-term rating has been upgraded to A1+ from ‘A1’ and placed rating on watch with developing implications.
Rain Industries: Rain Industries reports consolidated loss in December quarter.
SJVN: Government nod to Kinnaur Solar plant. The government has granted in-principle approval for the development of a 400MW solar park in Kinnaur by SJVN. The projects will help SJVN achieve its ambitious shared vision of 5,000 MW by 2023, 25,000 MW by 2030 and 50,000 MW by 2040.
Ducon Infratechnologies: Ducon Infratechnologies announces bonus issue.
Nuvoco Vistas Corporation: Nuvoco Vistas Corp sees block deal.