Business Current Affairs

Paytm sets up general insurance JV, plans to invest ₹950 cr in 10 years

Paytm has announced a Joint Venture general insurance company named as Paytm General Insurance Ltd (PGIL). Paytm parent One97 Communications said it has formed a joint venture general insurance company in which it plans to invest ₹950 crore in 10 years and to hold upfront equity stake of 74 per cent. PGIL will become a subsidiary of the Paytm. PGIL will seek […]

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Patanjali Food Business will be acquired by Ruchi Soya for Rs. 690 crore

Ruchi Soya, an edible oil company, has announced that it will buy Patanjali Ayurved’s food division for Rs 690 crore. Ruchi Soya’s transition to the fast-moving consumer goods (FMCG) category is likely to be accelerated as a result of this. After regulatory permissions, the name of Ruchi Soya Industries Ltd would be changed to Patanjali Foods Ltd. Ghee, honey,

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Adani Group to buy Ambuja Cements, ACC for $10.5 bn

Billionaire Gautam Adani on Sunday won the race to acquire Swiss cement major Holcim’s stake in Ambuja Cements and its subsidiary ACC for $10.5 bn (around Rs 81,361 crore), including the open offers. The value for the Holcim stake and open offer consideration makes this the largest ever acquisition by Adani and India’s largest-ever Mergers and

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Bharti AXA Life Insurance launched InspiHE₹: Financial literacy campaign

Bharti AXA Life Insurance, a joint venture between Bharti Enterprises, one of India’s leading business groups, and AXA, one of the world’s largest insurance companies, announced the launch of its financial literacy campaign ‘InspiHE₹- enabling an empowered future’– a special initiative to spread financial awareness among women and enable them to make informed financial decisions

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ICICI Bank ties up with Santander for India-UK business ease

ICICI Bank, one of India’s largest private sector banks, established a partnership with Santander Bank in the United Kingdom, aimed at making banking easier for businesses operating in both countries. The ICICI and Santander UK Plc signed a MoU in Mumbai to build a framework of partnership between the banks to satisfy the financial service needs of corporate clients operating along the

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Saudi Aramco overtook Apple Inc. as the world’s most valuable company

Saudi Aramco overtook Apple Inc. as the world’s most valuable company, stoked by a surge in oil prices that is buoying the crude producer while adding to an inflation surge throttling demand for technology stocks. Aramco traded near its highest level on record on Wednesday, with a market capitalisation of about $2.43 trillion, surpassing that of Apple for the first

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Adani Wilmar becomes India’s largest FMCG company surpassing HUL

Adani Wilmar Limited (AWL) has become the largest Fast Moving Consumer Goods Company (FMCG) in India and has beat Hindustan Unilever Limited (HUL), after the announcement of its Quarter Four results for the financial year 2022 (Q4FY2022). While sharing its Q4FY22 results, Adani Wilmar reported operational revenue of ₹54,214 crore in FY22 whereas HUL’s yearly revenue

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Mindtree and L&T Infotech announce merger to be India’s 5th largest IT services

Mindtree and L&T Infotech announce merger to be India’s 5th largest IT services – L&T Infotech and Mindtree, the two independently listed IT services companies under Larsen & Toubro Group, on Friday announced a merger that would create India’s fifth-largest IT services provider. Mindtree and LTI’s integration will create an efficient and scaled up IT services

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Reliance crosses USD 100 billion annual revenue

Reliance Industries become the first Indian company to record annual revenue of more than a whopping $100 billion. The company has recorded a 22.5% rise in net profit for the quarter ended March 2022. Reliance has recorded strong growth in retail, digital services, and the oil & gas business. The company has also reported the highest-ever quarterly EBITDA (earnings before interest, taxes, depreciation and amortisation) of ₹33,968

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Conference of Cluster-Based Business Organizations (CBBOs) in Jaipur

Union Minister, Kailash Choudhary has inaugurated Conference of Cluster-Based Business Organizations (CBBOs) and Farmer Producer Organizations (FPOs) under Scheme of Formation and Promotion of 10,000 FPOs at Birla Auditorium in Jaipur. Focus areas: expectations from CBBOs, Knowledge sharing by CBBOs on best practices, discussion on Training and Capacity Building of Stakeholders, and Open discussion on various issues/ suggestions.

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