ONGC gains 3% on share buyback proposal
Shares of Oil & Natural Gas Corpn (ONGC) gained 3% on Friday after the company in its filing to the exchanges informed that its board of directors would consider a buyback proposal in a meeting on December 20.
Further, for the prohibition of insider trading in dealing with the securities of the company, ONGC has closed the "trading window for the designated persons from December 17 to December 24 (both days inclusive)," the company said in a press note to the exchanges on Friday.
RCom rises 2% as SC directs DoT to issue NOC for spectrum sale
Shares of Reliance Communications climbed 2% in the afternoon session on Friday after a PTI report said that the Supreme Court directed the Department of Telecommunication (DoT) to issue an NOC to allow the company to sell spectrum to Reliance Jio within 2 days. The development comes after Reliance Realty furnished the corporate guarantee of Rs1, 400cr to the Telecom Department as directed by the Supreme Court, the report said. Earlier, the court had allowed spectrum sale from Reliance Communications to Jio and directed the company to furnish a corporate guarantee to DoT.
Dr. Lal PathLabs gets NCLT approval for Delta Ria acquisition
Dr. Lal PathLabs has received an approval from the Ahmedabad bench of the National Company Law Tribunal (NCLT) for a scheme of amalgamation between the company and Delta Ria & Pathology Private Limited.
"NCLT has sanctioned the scheme of amalgamation between Dr. Lal PathLabs Limited (the transferee company) and Delta Ria and Pathology Private Limited (the transferor company), a wholly owned subsidiary of the transferee company," the company said in a press note to the exchanges on Friday.
TVS Motor launches three new products in Peru market to further accelerate growth
TVS Motor Company, a leading manufacturer of two-wheelers and three-wheelers, announced the launch of its super premium offering TVS Apache RR 310, the 125cc connected scooter TVS NTORQ 125, and race machine TVS Apache RTR 160 4V for the Peru market. Chennai-based TVS Motor Co posted a 38.7% jump in its domestic scooter sales at 1, 05,576 units for the month of November 2018. The company's new launches will further strengthen its position in the Peru market.
Infosys announces joint venture with Hitachi, Panasonic, and Pasona in Japan
As per an exchange notification, Infosys has formed a joint venture (JV) with Hitachi, Ltd., Panasonic Corporation, and Pasona Inc. wherein it will acquire 81% of the shareholding in Hitachi Procurement Service Co., Ltd (HIPUS). Hitachi Procurement is Hitachiâ fully owned subsidiary and handles indirect materials purchasing functions for the Hitachi Group. Hitachi, Panasonic, and Pasona will be minority shareholders of the entity. Infosys added that it would bring its global expertise in procurement processes, consulting, analytics, and digital technologies, such as artificial intelligence (AI) and Robotic Process Automation (RPA), to the venture. Combined with Hitachi and Panasonicâ knowledge of their procurement functions and local teams and Pasonaâhuman capital and BPM networks in Japan, the entity will provide differentiated, end-to-end, efficient, and high-value procurement capabilities to corporations.
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