Reliance Industries and Walt Disney will divest seven TV channels and ensure that the sale of advertisement slots for cricketing events are not bundled as part of the measures approved by the Competition Commission for the merger of the two groups’ media assets that will create a ₹70,000-crore media behemoth. Nearly two months after announcing that the mega deal has been cleared, the Competition Commission of India (CCI) on Tuesday published the detailed 48-page order that lists the various remedial measures in place to address possible anti-competitive moves post-merger. The combined entity will have lucrative sports properties such as the Indian Premier League (TV and digital), ICC cricket tournaments (TV and digital), Wimbledon, Pro Kabaddi League and BCCI domestic cricket matches.
Sonata Software has secured a multi-year contract from a Fortune 500 manufacturer of consumer goods and industrial products. Under the agreement, Sonata will assist the company in driving its global business growth, while supporting its ongoing digital transformation efforts. The company, however, did not mention the company name nor the deal size.
RailTel Corp has received a work order for ₹36.8 crore from South Eastern Railway. This order entails the provision of an electronic interlocking system and both indoor and outdoor signalling arrangements.
RITES has bagged an order worth ₹454 crore from the Karnataka Mining Environment Restoration Corporation. This order involves the construction of railway PFTs at Dharmapura and Susheel Nagar in Ballari district. Initially awarded to the company on a project management consultancy (PMC) basis, the order has now been converted to a turnkey basis.
The board of Dhanlaxmi Bank has approved a rights issue to raise up to ₹300 crore by issuing equity shares to its existing eligible shareholders. The rights issue aims to strengthen the bank’s capital base and is part of a broader strategy to enhance financial stability and support growth initiatives, according to the company’s exchange filing.
Power Grid Corp has emerged as the successful bidder for the establishment of an inter-state transmission system in Rajasthan. It has received a Letter of Intent for the project, which includes the construction of a new 765/400kV Siwani sub-station equipped with STATCOM and other essential equipment. Besides, the project encompasses a 765kV D/C transmission line running through Rajasthan and Haryana, along with several 400kV D/C transmission lines in Haryana, and bay extension works at existing substations in both states.
LTIMindtree has announced the launch of the ‘AI-Smart Underwriter’ solution developed in collaboration with ServiceNow to empower underwriters to make more informed, data and AI-driven decisions, while driving efficiency through intelligent automation.
The National Payments Corporation of India (NPCI) has granted approval to One97 Communications (Paytm) to onboard new UPI users, subject to the adherence to all procedural guidelines and circulars, according to the company. The move is expected to come as a relief to Paytm, which had suffered a blow following the Reserve Bank of India’s restrictions earlier this year on associate company Paytm Payments Bank Ltd (PPBL) in onboarding new UPI users on the Paytm app.
MRF has announced a 26 per cent stake acquisition in Clean Max Omni for ₹7.26 crore, a significant renewable energy push. The Chennai-based firm entered a power purchase agreement for hybrid power supply under the captive power policy.
Remsons Industries, a wholly-owned subsidiary, Remsons Holding Ltd, has acquired 51 per cent stake in Bee Lighting. This strategic acquisition represents a significant milestone in Remsons’ plan to diversify its product portfolio by entering the automotive lighting.
Reliance Infrastructure has announced setting up of the largest Integrated project for manufacture of explosives, ammunition and small arms in Ratnagiri, Maharashtra for which it has been allotted 1000 acres of Land in Watad Industrial Area of Ratnagiri, Maharashtra to develop Dhirubhai Ambani Defence City (DADC).
Results Calendar: Hindustan Unilever, Bajaj Finserv, SBI Life, Pidilite Inds, TVS Motor, Bajaj Holdings & Investment, United Spirits, Godrej Properties, Scaeffler India, Lloyds Metals, AU Small Finance Bank, KPIT Tech, Sona BLW, Syngene International, MetroBrands, Piramal Pharma, Dr Lal PathLabs, TVS Holdings, Piramal Enterprises, Aster DM, IIFL Finance, Birlasoft, Navin Fluorine, Craftsman Automation, Birla Corp, Karnataka Bank, RattanIndia Power, Dodla Diary, VIP Inds, Hitachi, NIIT Learning, Heritage Foods, Thyrocare, Eraaya Lifespaces, CARE Ratings, Sagar Cements. Orient Green Power, Andhra Cement, TRF, NDTV, Nath Bio-Genes, Rane Engine Valves, Tanfac Industries.
