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Adani Transmission to acquire Alipurduar Transmission from Kalpataru

The enterprise value for the project is estimated at ₹1,286 crore. Adani Transmission Ltd (ATL) has signed definitive agreements with Kalpataru Power Transmission Ltd. (KPTL) for acquiring Alipurduar Transmission Ltd. in a manner consistent with Transmission Service Agreement and applicable consents. The enterprise value for the project is estimated at ₹1,286 crore. The acquisition is expected to be completed in […]

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Foxconn hit as Chinese imports held up

U.S. lobby groups complain to govt. as Apple supplier impacted; officials say situation to ease soon India’s additional scrutiny of imports from China has disrupted operations at plants owned by Apple supplier Foxconn in India, three sources told Reuters, and other foreign firms are also facing delays amid tensions between the two countries. Customs officers at Indian ports have held […]

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Ola enables in-app ‘tipping’ globally

Through Ola’s new in-app ‘tipping’ functionality, customers can now include a tip as a token of appreciation for their drivers’ for providing a great ride experience Ola, the mobility platform and a ride-hailing company, has rolled out a global feature for customers to reward drivers for going the extra mile to deliver a safe and high-quality ride experience. Through Ola’s […]

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Ahok Leyland to focus on exports, electric buses

Firm to unveil next generation light truck platform Phoenix in September Ashok Leyland Ltd. (ALL), the flagship company of the Hinduja Group, will be giving more thrust to exports and electric buses, expanding its light commercial vehicle (LCV) portfolio and introducing its next generation light truck platform Phoenix in September, a top official said. “We have an unshakable vision of […]

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Cut non-core expenditure: FinMin to banks

Diktat to PSBs to cut 20% non-core spending follows PNB’s purchase of 3 Audis The Finance Ministry has asked public sector banks (PSBs) to cut non-core expenditure by at least 20% this year so that they can ensure productive use of their financial resources for core business activities. “Effect significant reduction in expenditure on activities other than those pertaining to […]

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Mphasis implements Microsoft’s PowerApps to keep staff safe, productive

Employee Outreach was developed on Microsoft’s PowerApps’ crisis communications template, released by Microsoft in March 2020. Mphasis, an IT solutions provider specialising in cloud and cognitive services, today announced the implementation of Microsoft’s PowerApps to ensure the safety of its employees and maintain productivity during the current lockdown. Called Employee Outreach, the solution tracks the health of employees and their […]

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IDBI Bank in black after 13 quarters

Makes a strong pitch for exiting PCA restrictions; asset quality improves IDBI Bank has reported a net profit of ₹135 crore for the quarter ended March 31, 2020 compared to with a net loss of ₹4,918 crore in the year-earlier period. The lender posted a net profit after a gap of 13 quarters as additions to non-performing assets fell sharply […]

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