Wipro CEO Thierry Delaporte has become Indian IT sector's highest paid executive as papers filed with the US Securities and Exchange Commission showed that his annual pay package in the fiscal year ending March 31, 2022, was Rs 79.8 crore ($10.51 million).

In FY21, Delaporte’s annual salary was Rs 64.3 crore ($8.7 million). His compensation figure was for nine months in that year as the 55-year-old joined the company in July 2020.

Shares of Medplus Health Services (MHSL) hit a new low of Rs 737.15, down 4 per cent on the BSE in Friday’s intra-day trade. The stock of pharmacy retail company, which has fallen below its issue price of Rs 796 per share, was trading lower for the sixth straight day, down 16 per cent during the period.

With the recent decline in the stock price of the company, MHSL was trading 7 per cent lower from its issue price. It has tanked 45 per cent from its 52-week high level of Rs 1,343 touched on January 20, 2022.

Jeff Bezos and Mukesh Ambani, two of the world’s richest men, are set for another clash. This time the fight is over media rights to the Super Bowl of cricket, one of the world’s fastest-growing sporting events that draws 600 million viewers and has a brand value of almost $6 billion.

The billionaires’ companies are expected to be the top two contenders at a June 12 Indian Premier League auction, which is likely to lure several bidders for separate, five-year telecasting and online streaming contracts in different geographies.

Akasa Air has signed a contract with Irish leasing company Griffin Global Asset Management for sale and leaseback of five Boeing 737 Max aircraft, a statement said on Thursday.

Under sale and leaseback model, the airline sells its planes to a leasing company and then leases them back. This frees up the cash that the airline has spent in buying the aircraft.

A month after the Supreme Court directed the Delhi Metro Rail Corp (DMRC) to bring Rs 4,600 crore out of its coffers for its long-standing liability to a Reliance Infra (RInfra) subsidiary, DMRC has written to 18 banks, inviting bids to raise a Rs 2,700-crore loan.

The court had upheld a Delhi High Court order, conse­quent to which DMRC is to pay the arbitral award amount, alo­ng with interest, to Reliance In­fra-owned Delhi Airport Metro Express Private Limited (DAM­EPL) in two equal instalments.

A renewable energy deal with India's Adani group figured in Sri Lanka's parliamentary debate on the Electricity Amendment bill, which was passed in Parliament on Thursday amid resistance from Opposition lawmakers and industry trade unions.

The Opposition charged that an unsolicited government-to-government agreement to build a 500 MW wind power plant in the northern coast with the involvement of the Adani Group was key to the amendments to the 1989 Act.

A consortium of Apollo Global Management Inc. and Reliance Industries Ltd. has made a binding offer for Walgreens Boots Alliance Inc.’s international drugstore arm, people with knowledge of the matter said.

The bid for the Boots business is fully backed by committed financing, the people said, asking not to be identified because the information is private.

US major Novavax has said its Covid-19 vaccine (NVX-CoV2373) for adults — to be used in the US following an approval from the USFDA — would be manufactured by its Indian partner Serum Institute of India (SII). According to Reuters, Novavax’s Chief Medical Officer Filip Dubovsky said on Tuesday that all vaccines being distributed commercially across the world “are being made in a single facility by our partners (the Serum Institute in India — SII) that includes the vaccines which are being deployed around the world as well as the ones that will be initially deployed in the US”.

The Tamil Nadu Medical Services Corporation (TNMSC) has blacklisted pharma major Abbott Healthcare for five years for allegedly “hiding information” while participating in the tender process.

The company did not divulge that it was banned by central procurement agencies such as the Directorate General of Health Services (DGHS) and Employee State Insurance Corporation (ESIC) when it participated in the TN procurement agency’s tender process, TNMSC said.

German sports luxury car manufacturer Porsche on Wednesday said it has forayed into pre-owned car segment in India.

The Porsche Approved programme is now available across India with a comprehensive warranty on pre-owned cars for a minimum of 12 months, including access to the 24-hour roadside service after passing a rigorous 111-point inspection, the automaker said in a statement.

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