Mumbai: Insurance Australia Group (IAG), which holds 26% stake in SBI General Insurance, on Thursday, said it has signed a definitive agreement to sell its entire stake to private equity firms Warburg Pincus and Premji Invest.

While Premji Invest will acquire 16% stake in the general insurer, Warburg Pincus plans to buy the remaining 10%, giving an exit to IAG.

Mumbai: The National Highways Authority of India (NHAI) has invited bids from the private sector for auctioning of tolling rights in seven National Highways, as part of the fourth bundle of its toll-operate-transfer programme. The NHAI has set the base price at ₹4170 crore.

Equity benchmark BSE Sensex rose over 60 points in early trade on Thursday led by gains in banking stocks amid sustained foreign fund inflows.

Besides, easing global crude prices also helped buying sentiment, traders said.

Bankers expect to get the requisite numbers to clear a resolution plan for Dewan Housing Finance (DHFL), even as mutual funds (MFs) stay away from the inter creditor agreement (ICA), Union Bank of India managing director and chief executive officer Rajkiran Rai G said on Wednesday.

He further said that loan pools bought from DHFL have been performing well and the recent downgrade of these pools by ICRA to default grade possibly takes into account the Bombay High Court order which temporarily restrains repayments by DHFL to its creditors.

CG Power and Industrial Solutions (CGPIL) on Wednesday said Bombay Stock Exchange has appointed MSA Probe Consulting as the forensic auditors in compliance with Securities and Exchange Board of India (Sebi) order of September 17, to carry out detailed forensic audit of CGPIL books for the period 2015-16 onwards, following the discovery of fraudulent transactions in the account books in August.

INVENT, a British government-supported programme, has successfully incubated 160 startups across different sectors since its inception in 2016, according to a senior official.

The Innovative Ventures and Technologies for Development (INVENT) has been investing in agri-business, healthcare, education, energy, livelihood and skill development sectors across Rajasthan, Madhya Pradesh, Uttar Pradesh, Chhattisgarh, Bihar, Jharkhand, Odisha and West Bengal.

Reliance Jio has accused Bharti Airtel, Vodafone Idea, and Bharat Sanchar Nigam (BSNL) of fraudulently claiming interconnect usage charge (IUC) from it, for incoming calls on landline numbers.

It asked Telecom Regulatory Authority of India (Trai) to penalise the three entities and to direct them to refund the money, with interest.

Vodafone Idea Business Services, the enterprise arm of telecom operator Vodafone Idea, on Wednesday launched a suite of online presence tools to power small businesses. Named ‘WebBuddy’, the suite is a Do-it-Yourself (DIY) website builder, which enables small businesses to set up their professional responsive websites, get advanced business email, or start selling products through an integrated e-commerce solution, a company statement said.

Billionaire Mukesh Ambani-led Reliance Industries Ltd (RIL) can become the first Indian company to hit $200 billion market capitalisation in the coming two years, a global brokerage said. The commerce and fixed broadband businesses can nearly double the m-cap of India’s largest petrochemical and second-largest oil refining company in the next 24 months from the current $122 billion, news agency PTI reported citing Bank of America Merrill Lynch said in a report.

Shares of Bharat Petroleum Corporation (BPCL) climbed as much as 5.54 per cent to Rs 517.45 apiece on the BSE in the intra-day deals on Wednesday. The stock spurted after news reports suggested energy giant Saudi Aramco is likely to express its interest in the strategic sale of BPCL.

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