News Bulletin: 27/4/2022

▫️Adani Group is in talks with Holcim Group to acquire its cement businesses in India i.e. ACC and Ambuja Cement. Deutsche, Barclays, ICICI and Axis Bank are likely to fund the deal.

▫️Wipro to buy US firm Rizing in all cash deal of $540 million. This will help Wipro expand its presence in SAP Consulting.

▫️Corbevax and Covaxin gets approval for use amongst children below 12 years.

▫️ Finance Minister has urged the US chip makers AMD, Intel and Western Digital to invest in India.

▫️LIC has set up IPO price band at Rs 902-949. Policyholder’s to get discount of Rs 60 and retail investors of Rs 45.

▫️E Commerce company Udaan tied up with Northern Arc Capital to provide funding to local kirana stores.

▫️RIL and Abu Dhabi Chemicals Derivatives Company have tied up to set up chemical plant in Abu Dhabi.

▫️19 companies applied in the PLI Scheme for white goods manufacturing.

▫️ Deadline for submission of bids under PLI Scheme for speciality steel to be extended till May 30.

▫️ Hotel sector likely to witness 45% jump in revenues this fiscal: Crisil

▫️Russia warns of nuclear war risk as western nations specially the US provides arms to Ukraine.

▫️Elon Musk sealed the deal for purchase of Twitter.

▫️Adani Group becomes 3rd largest group in market cap.

▫️Bajaj Finance infused Rs 2,500 crore into Bajaj Housing Finance.

▫️ Airtel Payments Bank tied up with Induslnd Bank to launch fixed deposit facility.

▫️India becomes Hyundai’s largest foreign market.

▫️FII holdings in India’s listed companies fell to 9-year low in December 2021 at 19.7%. While retail holdings touched 14 year high at 9.7%.

▫️Biocon bags $90 million insulin related contract from Malaysia Goverment.

▫️RIL build new super luxury mall for wealthy Indians in Mumbai.

▫️Airports carried stunning 24.43 million passengers in March, compared to 17.66 million passengers in February.


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