Dept of telecommunications will shortly announce 5G trial schedules
Fri, Feb 19, 2021 8:55 AM

Dept of telecommunications will shortly announce 5G trial schedules

The department of telecommunications (DoT) is expected to announce the schedule for 5G trials in the coming few days. The DoT has already undertaken a meeting with telecom operators as well as equipment makers regarding the trials. it is very likely that after missing the 2G, 3G, and 4G bus, India is going to miss on 5G opportunities.

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Flipkart to help Tamil Nadu's small businesses, artisans sell online
Fri, Feb 19, 2021 8:39 AM

Flipkart to help Tamil Nadu's small businesses, artisans sell online

Flipkart has expanded its Samarth programme to small businesses and artisans based in Tamil Nadu. The e-commerce company on Thursday announced a Memorandum of Understanding (MoU) signed with the southern state’s MSME Trade and Investment Promotion Bureau (MTIPB) to onboard local artisans, weavers, craftsmen, and small businesses of the state onto its marketplace.

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Finmin concerned about SBI-HDFC-BoB new umbrella entity plan
Fri, Feb 19, 2021 8:28 AM

Finmin concerned about SBI-HDFC-BoB new umbrella entity plan

The finance ministry raised concerns over State Bank of India’s plan to set up a JV with HDFC Bank Ltd. and Bank of Baroda under the central bank’s new umbrella entity (NUE) framework. The ministry is worried that it could squeeze the National Payments Corporation of India (NPCI). The government doesn't want public sector banks to set up NUEs that will compete against RuPay and UPI run by NPCI.

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After 75 days, Maharashtra reports 5,000-plus new COVID-19 cases
Fri, Feb 19, 2021 8:17 AM

After 75 days, Maharashtra reports 5,000-plus new COVID-19 cases

After a gap of 75 days, Maharashtra, on Thursday reported 5,427 new COVID-19 cases, a sizable number of them coming from Akola and Nagpur divisions. Currently, the caseload in the state rose to 20,81,520 while 38 fatalities took the death toll due to the pandemic to 51,669. Lockdown has been imposed in Amravati District from 8 pm on February 19 to 7 am, owing to the rise in COVID-19 cases.

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WhatsApp will provide more info on privacy policy update through banner
Fri, Feb 19, 2021 8:01 AM

WhatsApp will provide more info on privacy policy update through banner

WhatsApp will display a banner on the app providing users with more information on privacy policy and terms of use update that has drawn massive criticism over concerns on data sharing with parent Facebook. The contentious policy, whose rollout date was pushed to May 15 from Feb 8, however, remains unchanged. They will offer more information on the banner so that people can read at their own pace.

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DLF rental arm acquires ‘One Horizon Centre’ office building in Gurugram
Fri, Feb 19, 2021 7:10 AM

DLF rental arm acquires ‘One Horizon Centre’ office building in Gurugram

DLF’s rental arm DCCDL successfully acquired a 52% stake of US-based Hines in a premium commercial project in Gurugram for Rs 780 crore. In December, DLF had informed that its JV firm DCCDL entered into a securities purchase agreement with funds managed by Hines for the acquisition of their stake in Fairleaf Real Estate, which owns and operates ‘One Horizon Center’.

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IDFC First Bank board approves Rs 3,000 crore fund mop-up
Fri, Feb 19, 2021 7:00 AM

IDFC First Bank board approves Rs 3,000 crore fund mop-up

IDFC First Bank on Thursday said its board approved raising up to Rs 3,000 crore through various means. The lender said there are significant opportunities for growth based on the strong capabilities it has built as well as the strong outlook for economic recovery in India. The bank will raise the fund through Qualified Institutions Placement, Follow-on Public Offering or a combination of these.

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Ambuja Cements Q4 net profit up 34% at Rs 968 crore
Fri, Feb 19, 2021 6:10 AM

Ambuja Cements Q4 net profit up 34% at Rs 968 crore

Ambuja Cements on Thursday announced an increase of 34.06% in consolidated net profit at Rs 968.24 crore for Q4'FY21, helped by volume growth. The company, which follows Jan-Decfinancial year, had clocked a net profit of Rs 722.26 crore in Oct-Dec2019. Revenue from operations was up 4.58% to Rs 7,452.87 crore during the quarter as compared to Rs 7,126.44 crore in the year-ago period.

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NMDC resumes mining at Donimalai mine in Karnataka
Fri, Feb 19, 2021 6:00 AM

NMDC resumes mining at Donimalai mine in Karnataka

NMDC on Thursday announced resuming mining operations at its Donimalai iron ore mine in Karnataka after receiving permission from the state government. In 2018, NMDC suspended iron ore mining following a decision of the state govt to impose 80% premium on the iron ore sales from the mine. NMDC has been in the mining iron ore business for over 6 decades, operates 3 iron ore complexes in India.

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Sebi cancels registration of Kolar Sharex, Rajkumar C. as stock brokers
Fri, Feb 19, 2021 12:02 AM

Sebi cancels registration of Kolar Sharex, Rajkumar C. as stock brokers

Sebi on Thursday announced the cancellation of registration of Kolar Sharex Pvt Ltd as a stockbroker for violating market norms. In a separate order, Sebi said it has also cancelled the registration certificate of Rajkumar C. Basantani as a stockbroker, who, apart from being a director of Kolar Sharex, was also a trading member of the National Stock Exchange (NSE).

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Top 5 interesting facts about bitcoins | FlipItFact
Thu, Feb 18, 2021 10:15 PM

Top 5 interesting facts about bitcoins | FlipItFact

Top 5 facts about bitcoins: [1] Transactions can't be reversed in bitcoins, [2] Currently, there are over 2,500 cryptocurrencies, with Bitcoin just one of them, 3] If you lose your private key (Bitcoin wallet), you lose your Bitcoins, [4] A unit of Bitcoin is called a 'Satoshi byte', [5] Bitcoin is created through mining, and the core technology behind it is called Blockchain technology.

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SC wants loan records of Malvinder, Shivinder in Ranbaxy-Daiichi case
Thu, Feb 18, 2021 10:11 PM

SC wants loan records of Malvinder, Shivinder in Ranbaxy-Daiichi case

The SC Thursday directed 17 banks and financial institutions of former Ranbaxy promoters Malvinder and Shivinder Singh to place on record the basic documents pertaining to loans for which the shares of FHL were pledged with them. The top court had earlier asked the Singh brothers to give it a plan as to how they would honour the arbitral award of Rs 3,500 crore granted by a Singapore tribunal.

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DLF Cyber City Developers acquires 51.8% stake in Fairleaf Real Estate
Thu, Feb 18, 2021 10:06 PM

DLF Cyber City Developers acquires 51.8% stake in Fairleaf Real Estate

DLF Cyber City Developers Limited (DCCDL), the rental arm of DLF group, has completed the acquisition of 51.8% stake in Fairleaf Real Estate for Rs 779.40 crore. The company had in December 2020 entered into a Securities Purchase Agreement with funds managed by Hines for the acquisition of their stake in Fairleaf, which owns and operates One Horizon Centre.

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Telecom sector may experience tariff hikes as industry needs higher ARPU
Thu, Feb 18, 2021 10:01 PM

Telecom sector may experience tariff hikes as industry needs higher ARPU

A tariff hike can be expected in the telecom sector soon as payment obligations by operators necessitate the need for ARPU expansion. The SC had in October 2019 mandated that telecom operators pay Rs 1,19,292 crore to the Department of Telecommunications as adjusted gross revenue (AGR) dues. Of this, Bharti Airtel’s dues are pegged at Rs 43,980 cr, while Vodafone Idea’s dues were Rs 58,254 cr.

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L&T Finance’s rights issue concludes, oversubscribed by 15%
Thu, Feb 18, 2021 9:26 PM

L&T Finance’s rights issue concludes, oversubscribed by 15%

The Rs 2,998cr L&T Finance rights issue concluded today with the issue being oversubscribed by 15%. The allotment of the equity shares in the rights issue will happen on Tuesday. It opened for subscription for its shareholders on February 1 at a fixed price of Rs 65 per share. The company had offered 17 shares to existing shareholders who held 74 shares of the company on January 22.

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