Taking advantage of the buoyancy in the equity market, the central government has sold nearly one crore shares of Axis Bank worth around ₹600cr in last two weeks held through the Specified Undertaking of the Unit Trust of India (SUUTI). SUUTI sold 61.43 lakh shares of Axis Bank between 2 and 4 December, which fetched the government ₹374.21cr. Last month it sold 36.25 lakh shares for ₹221.47 cr.

Deepak Fertilisers and Petrochemicals on Monday witnessed huge buying sentiment after the Delhi High Court directed the Department of Fertilisers (DOF), Ministry of Chemicals and Fertilisers to return Bank Guarantee worth Rs310.52cr to Smartchem Technologies (STL) which is a wholly-owned subsidiary of the company, within four weeks.

Jet Airways Ltd could be back in the skies as early as the summer of next year as the new promoters, Murari Lal Jalan and Kalrock Capital, intend to start domestic and international operations with all the slots that were available to the airline before it stopped operations. The new promoters contemplated starting a new airline but chose to stick to the Jet brand due to the existing brand value.

Kalpathi Group's newly floated ed-tech unit Veranda Learning Solutions has acquired Chennai Race — a coaching institute for bank, SSC, and PSC exams — for a valuation of Rs 100 crore. The acquisition also includes stock and earn-out, and with this Veranda will launch a new brand called Veranda Race. the course will be available in 11 Indian languages by December 2021.

Cupid Limited informed exchanges on Monday that the company has received an order for the supply of "Covid - 19 Antigen Based Rapid Test Kits". The order values to Rs8.27cr and was given by Uttar Pradesh Medical Supplies Corporation Limited. "We are excited to receive the first order to supply test kits", says Omprakash Garg, CMD, Cupid Limited.

The largest electrical and telecom cables maker Finolex Cables is eyeing at least Rs 500 crore revenue from its new consumer-facing electrical accessories business by the next fiscal when it expects total revenue to sniff past Rs 3,500 crore. Its staple electrical cables, chip in with 60% of the revenue, 20% is contributed by agri and automobile wires and another 20% comes from power cables.

Singapore Airlines and Vistara have signed a commercial cooperation framework agreement that will allow them to harmonise efforts incapacity planning, sales, marketing, joint fare products, customer services and operations. Vistara is a 51:49 joint venture between the Tata group and Singapore Airlines. The agreement is an extension of a codeshare partnership between the airlines.

Signalling a strong real estate demand in Tier II/III cities, India’s leading real estate company Omaxe Limited more than doubled its sales at Rs2,145cr in 2019-20. Commenting on the same, Mohit Goel, CEO, Omaxe Ltd. said: “In the last 15 years, we have gained leadership position in cities like New Chandigarh, Ludhiana, Lucknow, Faridabad, Indore to name a few where we are executing our projects.

In a move to ease the pressure on small taxpayers, the Centre has decided to introduce quarterly filing of return with monthly payment. The new scheme will be applicable from January 1, 2021, onwards and will impact almost 94 lakh taxpayers. The scheme referred to as Quarterly filing of Return with Monthly Payment (QRMP) Scheme would be available on the GST common portal.

Private sector DCB Bank on Monday said it has reduced marginal cost of funds based lending rates (MCLRs) by up to 0.18 percent across various tenors. The benchmark one-year MCLR has been cut to 9.67 percent, the bank said in a release. It was 9.85 percent earlier. The one-year MCLR is the rate against which most of the consumer loans are priced.

The rupee dropped by 10 paise to settle at 73.90 against the US currency on Monday due to a stronger dollar in overseas markets. At the interbank forex market, the domestic unit witnessed a volatile trading session. It opened at 73.79 and rose to an intra-day high of 73.70 and dropped to a low of 73.96. It finally closed at 73.90 a dollar, registering a decline of 10 paise over its previous close.

A consortium led by Murari Lal Jalan and Kalrock Capital, has announced the revival of India’s premier airline – Jet Airways as a full-service carrier. The company said in a press release on Monday that Jet 2.0 program is aimed at reviving the past glory of Jet Airways, with a fresh set of processes and systems to ensure greater efficiency and productivity across all routes.

Infrastructure major Larsen & Toubro on Monday said it has received orders for supply of 90 units of Komatsu Mining Equipment. "The construction and mining equipment business of Larsen a Toubro has secured multiple orders for supply of 90 units of Komatsu Mining Equipment from Coal India subsidiaries" L&T said in a BSE filing.

New Delhi: Budget carrier IndiGo today said that it will refund all passengers against the ticket cancellations done due to the coronavirus lockdown earlier this year, by 31 January 2021. "We are pleased to commit that we will disburse the full 100 per cent credit shell payments latest by January 31, 2021," news agency PTI quoted IndiGo chief executive officer Ronojoy Dutta.

Global rating agency Moody's on Monday said HDFC Bank's multiple digital outages are credit negative as such recurring incidents could lead to moderation in revenue and flight of customers to other banks. Last week, banking sector regulator Reserve Bank of India had asked the bank to temporarily stop all launches under its digital 2.0 initiative and stop sourcing new credit card customers.