Sebi exempted Sameer Gehlaut IBH Trust from making open offer following its proposed acquisition of shares in Indiabulls Housing Finance Ltd. Sebi noted that objective of the proposed acquisition is to achieve efficient succession planning as well as for holding the controlling interest in Indiabulls Housing Finance in one entity rather than spreading the holding amongst different individuals.

Prakash Pipes Limited on December 07, 2020, has incorporated a wholly-owned subsidiary (WOS) Company Prakash Technopack Private Limited (PTPL) which is registered with the Registrar of Companies, Punjab and Chandigarh. The cost of acquisition was Rs1 lakh with the company acquiring 10,000 equity shares of Rs10/- each. Prakash Technopack belongs to Plastic Products related Industry.

Burger King India, whose shares are trading at a 75 per cent premium in the grey market, is likely to finalise the basis of share allotment today. The IPO, which was sold between December 2 and 4 in the Rs 59-60 price band, was subscribed a whopping 156.65 times. Analysts were upbeat on the issue, as they feel the issue had left enough on the table for investors.

Kavita Nair has quit Vi. She was the Chief Digital Transformation & Brand Officer at Vodafone Idea (Vi). In another major development, the telco has elevated its Director (Marketing) Avneesh Khosla to the position of Chief Marketing Officer (CMO), filling a position which was vacant for over two years. Nair held the position of Chief Digital Transformation & Brand Officer since August 2018.

Vodafone Idea received the highest call quality user ratings for the month of November, according to latest data shared by Telecom Regulatory Authority of India (TRAI). The data shows that Idea secured the top spot when it comes to voice quality across service providers with Vodafone not far behind. Vodafone Idea, which rebranded to Vi recently, collectively outperformed Airtel, BSNL, and Jio.

Himadri Speciality Chemical Limited clarified on Tuesday that the company is not launching lithium battery-powered cycles as suggested by some media reports. “This is in reference to various media articles stating ‘Himadri Group to launch of lithium battery-powered cycles in Bengal.’ Any investment committed to the launch of the aforementioned product will not be funded or provided by the company.

Fitch Ratings revises India's GDP forecast to (-)9.4% for the current financial year, compared to a contraction of 10.5% which was projected previously. The rating agency in its Global Economic Outlook - December 2020, said that the Covid-19 recession has inflicted severe economic scarring and the country needs to repair balance sheets and increase caution about long-term planning.

The central government on Tuesday remained non-committal on its decision whether to challenge an international tribunal’s award in the Vodafone tax case under the India-Netherlands BIPA. Without making any statement on whether the Indian government would challenge the arbitral award, additional Solicitor General Chetan Sharma asked the Delhi High Court to defer the proceedings indefinitely.

Bharat Biotech to initiate Phase-1 trials of intranasal vaccines for COVID-19 next month, said Krishna Ella, Chairman and Managing Director of the vaccine maker. He also said Bharat Biotech is setting up two more facilities for vaccine manufacturing. Since intramuscular vaccines require two-dose injections, a country like India needs 2.6 billion syringes and needles which may add up to pollution.

Axis Securities sees an upside of 21% in Wipro stocks in the coming 12 to 18 months with a target price of ₹432. The brokerage recommends 'Buy' rating. The IT services major decided to give wage hikes to junior employees with effect from January 1, 2021. The Bengaluru-based company has also rolled out promotions for high performers for employees in up to a certain band, effective December 1, 2020.

The unprecedented takeover of a private Indian bank by a foreign competitor signals that the nation’s banking sector is opening up, Finance Minister Nirmala Sitharaman said. Sitharaman lauded the Reserve Bank of India’s efforts in steering the bailout of Lakshmi Vilas Bank Ltd. by allowing a local unit of Singapore’s DBS Group Holdings Ltd. to buy the failed lender.

State-owned telecom firm MTNL on Tuesday said it will on December 31 seek shareholders' nod to raise Rs 2,138.6 crore as part of sovereign guarantee bond. The government allowed MTNL to raise up to Rs 6,500 crore for a tenure of 10 years through sovereign guarantee bonds as part of its revival package. The company has already raised Rs 4,361.4 crore under the package on October 12.

Apple threatened on Tuesday to remove apps from its widely-used App Store if they don't comply with an upcoming private feature allowing users to block advertisers from tracking them across different applications. The new feature, dubbed App Tracking Transparency, was initially planned to debut this year, but was delayed to give developers more time to make changes to their apps.

New Delhi: Hospitality firm OYO has laid off around 300 employees mainly from renovation and operations departments, according to sources in know of the matter. This has been done in order to build a long-term sustainable business as the company has introduced some operational changes aligned with the current business realities, the sources said.

Customers of erstwhile Lakshmi Vilas Bank (LVB), now owned by DBS Bank India Ltd, have been asked to continue using their existing accounts and other facilities, while the lender's website and logo now bear the DBS name alongside. In a notification on LVB's website, customers have been informed that they can continue to use their existing bank accounts, debit cards and cheque books.