The Securities and Exchange Board of India (Sebi) has levied a fine of Rs 10 lakh on Abhijit Pawar for contravening insider trading regulations in the context of Magma Fincorp, now known as Poonawalla Fincorp Ltd. Pawar, who is the nephew of Nationalist Congress Party (NCP) Chief Sharad Pawar, has been directed to settle the penalty within 45 days.

Sebi received an alert about potential insider trading involving certain entities in Magma's stock in February 2021.

BSNL will officially launch 4G services in the next three to four months or after reaching 20,000 base transceiver stations (BTS), BSNL CMD Pravin Kumar Purwar said on Tuesday. A BTS is a fixed radio transceiver in any mobile network, most often in the form of a tower.

Speaking at the sidelines of an industry conclave here, Purwar said the state-run telco has already installed 3,000 BTS across five circles in North India - Punjab, Haryana, Himachal Pradesh, Uttarakhand, and Uttar Pradesh West.

Larsen & Toubro (L&T) on Tuesday announced it has secured a mega contract from an authorised Japanese agency to construct an electrification system for the Mumbai-Ahmedabad High-Speed rail project in India. Valued in the range of Rs 10,000 crore to Rs 15,000 crore, the project, according to company executives, is the largest single rail-electrification order in India. The company said this would be the first of its kind railway project in India involving the implementation of Japanese Shinkansen.

IT major Wipro has forecast a muted sequential revenue growth of -1.5 per cent to 0.5 per cent in constant currency for the fourth quarter ended March 2024 as deal ramp ups and client decision making are yet to gain pace.

Margins for the second quarter are likely to be “range-bound” similar to the last few quarters, the management said during a media briefing.

The state-owned Life Insurance Corporation of India (LIC) received a notification for a tax refund worth Rs 25,464 crore from the Income Tax Department for 7 Assessment Years (AYs) from 2012-13 to 2019-20 except for 2015-16. This is related to the interim bonus paid to policyholders during the assessment period.

On Thursday, LIC reported to have got a tax demand for Rs 2133.67 crore for the seven years AYs and Rs 1395.08 crore for AY 2015-16.

The Mumbai Trans Harbour Link (MTHL), perhaps the most anticipated infrastructure project in the city, is set to open for regular traffic this Saturday, after Prime Minister Narendra Modi inaugurated India’s longest sea bridge on Friday.

Named the Atal Bihari Vajpayee Sewri-Nhava Sheva Atal Setu, the 21.8 km-long, six-lane engineering marvel, of which 16.5 km is in the sea, has been built at a cost of Rs 17,840 crore, and will cut the distance between the Mumbai island city and its satellite city Navi Mumbai shorter.

Amid the growing public anticipation in India around the opening of the Ram Temple in Ayodhya, Uttar Pradesh, later this month, the Mauritian government announced the grant of two hours of special break for practising Hindu public officers on January 22 to enable them to participate in local events marking the 'Pran Pratishtha' of Shri Ram Lalla in the Indian temple town.

Digital Connexion, a joint venture between Mukesh Ambani’s Reliance Industries, Canada's Brookfield and US-based Digital Realty, on Friday launched its first data centre in India, at Ambattur in Chennai.

The centre started with a processing capacity of 20 megawatt (Mw) and will expand it to 100 Mw, making it one of the largest such facilities in the country. Digital Connexion is planning to start a 40 Mw data centre in Mumbai, a top company executive told Business Standard.

Tata Consumer Products, the maker of Tata Tea, has announced its acquisition of Capital Foods, the company behind Ching’s Secret and Smith & Jones brands.

The buy, at an enterprise value of Rs 5,100 crore on a no cash, no debt basis, will be carried out in a phased manner, with Tata Cons­umer acquiring 75 per cent of the shareholding before March 31 and the remaining 25 per cent within three years, the company said in an exchange filing late Friday evening.

All India Trinamool Congress party leader and chief minister of West Bengal, Mamata Banerjee, pressed the central government to change the state's name from West Bengal to "Bangla '' during a press conference on Thursday. The chief minister questioned the Bharatiya Janata Party (BJP)-led Centre on why West Bengal was being excluded from states that were able to change their names.

This comes days after the municipal body of Ghaziabad decided to change its name.

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