Home / News / India /  Mint Evening Digest: Adani Power to buy 100% stake in DB Power, Delhi liquor excise policy raids and more
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Adani Power to buy 100% stake in DB Power

India's Adani Power on Friday said it would acquire thermal power plant operator DB Power for an enterprise value of 70.17 billion rupees ($879.14 million). Read more

Mint Explainer: Money laundering probe into Delhi Excise Policy

The Central Bureau of Investigation (CBI) on Friday raided the home of Delhi Deputy Chief Minister Manish Sisodia and 20 other locations in connection with the "Delhi Excise Policy scam". Delhi Chief Minister Arvind Kejriwal said there is no need to panic and the agency had been “asked from above" to harass them. Read more

Adani Group gets SEBI nod for $3.8 bn open offer for Ambuja, ACC

The Adani Group, helmed by billionaire Gautam Adani, is said to have received capital markets regulator SEBI's nod for the $3.8-billion open offer for Ambuja Cements and ACC. The Adani Group has made offers of 385 per share for Ambuja Cements and 2,300 a share for ACC. Read more

Nitish Kumar not a contender for opposition's PM face but can be an option if...

Nitish Kumar is not a contender for the opposition's prime ministerial face but can be an option if other parties want so, said JD(U) chief Lalan Singh on Friday amid speculations that he is willing to throw in his hat for Prime Minister. Read more

RBI likely to set 7.23% cutoff yield on new 10-year bond

The Reserve Bank of India will likely set a cutoff yield of 7.23% on 130 billion rupees ($1.63 billion) of the new 10-year bond being auctioned on Friday, according to the median estimates in a Reuters poll of 11 traders. Read more

Gold rates today fall again, down over 1,000 this week, silver slumps

Gold and silver prices remained weak in India amid a pullback in global rates. On MCX, gold futures fell 0.2% to 51,501 per 10 gram while silver futures slumped 1.4% to 55,640 per kg. Read more

Furniture retailer Wayfair to cut 870 jobs

Online furniture retailer Wayfair Inc said on Friday it would cut about 870 jobs, or 5% of its global workforce, as it looks to cut back operating expenses and realign investment priorities. Read more

Sports Ministry requests FIFA, AFC to let Indian clubs play despite AIFF ban

Despite the ban on AIFF, the Sports Ministry on Friday requested the world football governing body FIFA and the Asian Football Confederation (AFC) to allow Indian clubs Sree Gokulam Kerala FC and ATK Mohun Bagan compete in the tournaments. Read more

Rakesh Jhunjhunwala's old video on success goes viral

Rakesh Jhunjhunwala, the big bull who isn't among us anymore, faced defeat with a smile. An old video of RJ on Twitter is going viral where the market mogul cited patience and hard work among the important factors for achieving success. Read more

Centre cuts windfall tax on domestic crude

The union government has reduced the windfall tax on sale of locally produced crude oil to 13,000 per tonne. Read More Here.

Inflation peaked in April: Report

Inflation has peaked in April this year and the momentum is expected to come down as per projection, said Reserve Bank of India in its August bulletin on Thursday. Read More Here.

RBI paper bats for gradual ceding of government control from banks

Adopting a “big bang" approach to privatisation of public sector banks would do more harm than good, said an article published by the Reserve Bank of India (RBI) on Thursday, instead batting for a more gradual withdrawal of state control. Read More Here.

Tax officials told not to summon CEOs, CMDs ‘routinely’

The Central Board of Indirect Taxes and Customs (CBIC) has told field officers to be judicious while exercising their power of issuing summons to senior officials of companies such as chief executive officers (CEOs), chairman and managing directors (CMDs) and chief financial officers (CFOs), showed an official order issued late on Wednesday. Read More Here.

Centre urges telcos to firm up 5G launch plans

The Centre has asked telecom service providers to firm up their 5G launch plans, given that now they have the required airwaves. Read More Here.

Why mutual funds favour financial services but slash IT exposure

Mutual fund managers increased their holdings of financial services, industrials, and consumer discretionary stocks, sectors that are most likely to benefit as economic activity and consumer demand pick up in India, data for July showed. Read More Here.

Government may fine e-scooter makers for fires

The Union government may impose monetary penalties on electric scooter makers over suspected use of unsafe batteries that caused fire incidents, an official aware of the matter said. Read More Here.

SC gives Centre 10 days to reply in pharma freebies case

The Supreme Court on Thursday directed the Centre to file a reply on holding pharmaceutical companies accountable for providing freebies to doctors. This is in response to a Public Interest Litigation (PIL) filed by the Federation of Medical and Sales Representatives Association of India which alleged that pharma companies induced doctors to prescribe their medicines. The Centre has to file their reply in 10 days. The matter will be taken up for hearing on 29 September. Read More Here.

'Dahi-Handi' to be recognised as sport in Maharashtra: CM Eknath Shinde

Maharashtra Chief Minister Eknath Shinde on 18 August announced that 'Dahi-Handi' will now be recognised as an official sport in the state. He also said that "Pro-Dahi-Handi" competitions will be introduced in the state. Read More Here.

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