The government on November 27 capped the “surge price” asked by cab aggregators such as Ola and Uber in times of high demand to 1.5 times the base fare. It also restricted the discount offered by them to 50 percent of the base fare to limit fare volatility. In states where the taxi fare has not been determined by the local government, Rs 25/30 shall be the base fare for regulation.

India's e-commerce festive sale season from October 15-November 15 this year delivered $8.3 billion (about Rs 58,000 crore) worth of gross sales for brands and sellers, up 65 percent from $5 billion (Rs 35,000 crore) last year, research firm RedSeer said on Friday. This was also higher than the pre-festive forecast of $7 billion, RedSeer said in its report titled 'The Festival of Firsts'.

Agrochemical company Heranba Industries, which is planning to enter the capital markets soon, is expecting Rs 1,150-1,200 crore revenue in 2020-21 as the economic activities are improving gradually after the havoc caused by the pandemic, a top company executive has said. Being an agrochemical company, they were not affected much by the disruptions caused by the pandemic.

Adani Transmission on Friday said it has completed acquisition of 49 per cent stake in Alipurduar Transmission from Kalpataru Power Transmission Ltd (KPTL) for an enterprise value of around Rs 1,300 crore. "Adani Transmission Ltd (ATL) has acquired 49 per cent stake in Alipurduar Transmission Ltd from KPTL with agreement to acquire balance 51 per cent...," a company statement said.

India's fiscal deficit stood at Rs 9.53 lakh crore during April-October, which is 119.7 % of Rs 7.96 lakh crore of the budget target. The revenue gap for the same period stood at Rs 7.72 lakh crore vs Rs 5.46 lakh crore on a yearly basis. The non-tax revenue from April to October 2020 stood at Rs 1.16 lakh crore in comparison to Rs 2.24 lakh crore. While the tax revenue stood at Rs 8.75 lakh.

ABB has launched a new range of M3BP motors for its industrial customers in India in order to expand its portfolio with high-output series motors. The new range of low voltage IEC induction motors from ABB are designed in a way to reduce the overall size of the equipment and keep them compact by minimizing space and total cost of ownership.

VIL on Friday said it has teamed up with multiple partners in learning and upskilling, health and wellness space to bring an array of digital products. "The company has forged partnerships with upGrad, Udemy, Pedagogy, cure.fit, 1mg, MFine, Eunimart and others, and plans to on-board more partners under each of these areas to enable Vi users get exclusive offers from these players," VIL said.

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State-owned NTPC has scheduled its buyback offer for next month. The company's nearly Rs2,276cr buyback will open on December 07 and will close on December 18, 2020. NTPC's buyback offer comprises of 19,78,91,146 equity shares having a face value of Rs10 each representing 2% of the total number of equity shares in the issued, subscribed and paid-up equity share capital of the company.

Lakshmi Vilas Bank (LVB) fully writes off Basel III Tier 2 bonds worth Rs318.20cr as the amalgamation of the bank with DBS Bank comes into effect from today onward. On Thursday, RBI advised LVB  the need to fully write-down the Series VIII, Series IX and Series X Basel-III complaint Tier-2 Bonds before the amalgamation comes into effect from the Appointed date i.e., 27th November 2020.

Paytm is in talks with Bank of Baroda, IndusInd Bank, SBI Card and Standard Chartered Bank to issue co-branded cards to around 17 million small merchants on the platform, sources told The Economic Times. The move is aimed at extending the fintech player into a “full-fledged financial services players” and comes after the company announced its entry in the loan business, the report noted.

Private equity firm Everstone Group promoted Burger King India Ltd on Friday set the price band at ₹59-60 per share for its initial public offering (IPO) which is slated for launch on 2 December. The company has also raised a pre-IPO funding of ₹92 crore from public markets investor Amansa Investments Ltd. Shares were allotted to Amansa at a price of ₹58.5 per share.

BSE has continued its record-breaking momentum in the equity derivatives segment, with the Sensex 50 contracts crossing daily trading turnover of ₹389,758 crore on November 26. Since the launch of Sensex 50 derivatives contracts with differentiated Monday expiry, the contract has witnessed robust volumes coinciding with an upbeat equity market and record FII inflows.

The National Stock Exchange of India (NSE) has expelled Anugrah Stock & Broking from the exchange after declaring it a defaulter. Anugrah Stock & Broking has been expelled from the membership of the exchange under Rules 1 and 2 of Chapter IV of the NSEIL Rules and has been declared as defaulter under provision 1 (a) of Chapter XII of Exchange Bye laws w.e.f. November 26, 2020.

Zydus Cadila will apply for Phase 3 clinical trials of its experimental COVID-19 vaccine in December, and expects to launch it by March 2021. "If all goes well, the company expects to introduce the vaccine by March next year," a source told The Economic Times. Moneycontrol could not independently verify the story. Zydus Cadila will submit results of the Phase 2 trials next week.