 The Competition Commission of India (CCI) approved engineering and construction major Larsen & Toubro’s (L&T’s) proposal to acquire up to 66.15% stake in Mindtree. With this nod, L&T has overcome the first major regulatory hurdle in its bid for ‘hostile’ takeover of the Bengaluru-headquartered IT services firm. |
| Source- Business Standard |
 The Securities and Exchange Board of India (SEBI) has given approval to Paytm Money the investment and wealth management platform of the mobile payments company to start offering broking services. It had applied for the licence in October 2018. Paytm Money has also received membership of NSE and BSE. |
| Source- The Economic Times |
 Reliance Nippon Life Asset Management (RNAM) has joined hands with Google to enable the customers of Reliance Mutual Fund to carry out voice-based financial transactions. With this, RNAM becomes the first company in India, to provide a conversational interface that would help customers regarding funds transactions. |
| Source: Economic Times |
 IT major HCL Technologies stated that its acquisition of US-based Strong-Bridge Envision has been completed. HCL had recently agreed to acquire the Seattle-based company to enhance its digital transformation consulting capabilities. According to reports, the deal was worth 45 million dollars. Strong-Bridge Envision is now part of its global digital and analytics business called HCL Mode 2 services. |
| Source: Business Standard |
 State-owned Power Finance Corporation (PFC) has completed the acquisition of majority stake in REC Ltd by transferring Rs 14,500 crore to the government. The merger of both the entities will be completed in the next fiscal year in consultation with the government. This acquisition and merger will make PFC second-largest government-owned financial player in the country based on the current market capital after State Bank of India (SBI) and also PFC will be the third-highest profit-making financial player in India. |
| Source- Business Standard |
 State-owned gas utility GAIL India Ltd has signed an agreement with Bharat Heavy Electricals Ltd (BHEL) for cooperation in the development of solar power projects. The MoU aims at building a closer strategic partnership between the two Maharatna PSUs for jointly pursuing commercial solar power projects through participation in tariff / Viability Gap Funding (VGF) based competitive bidding process. |
| Source- The Livemint |
 Apple Inc & Goldman Sachs Group Inc jointly launched the Apple Card credit card for iPhones. The card is tied to Apple Pay, a service that allows people to load banking information and pay in store or use it for purchases online. Apple card is a virtual credit card that can be integrated into the Wallet app of the iPhone. |
| Source- The Verge |
 Indian low-cost airlines SpiceJet has joined the International Air Transport Association (IATA). SpiceJet is the first Indian budget carrier to join the IATA,which has over 290 airlines as members. The membership of IATA will allow SpiceJet to explore and grow its collaborations with international member airlines of IATA through interlining and code shares and also enables to seamlessly expand the network options for its passengers in future. |
| What is IATA? International Air Transport Association (IATA) is the trade association for the world’s airlines and represents some 290 airlines which contribute to about 82% of total air traffic. |
| Source- The Times of India |
 Hyundai Motor Group (the Group) and Ola announced a strategic partnership under which Hyundai Motor Company and Kia Motors Corporation will invest a total of $ 300 million in Ola, making it their biggest combined investment to date. The agreement will see the three companies collaborate on developing fleet and mobility solutions, building India-specific electric vehicles and infrastructure, as well as nurturing opportunities and offerings for aspiring driver partners with customized vehicles on the Ola platform. |
| Source- The Hindu Business Line |
 ICICI Lombard and Mobikwik announced a strategic partnership to provide cyber-insurance cover. The relationship aims to provide protection against unauthorized and fraudulent transactions online, across bank accounts, debit and credit cards. and mobile wallets. MobiKwik users can avail the commercial cyber-insurance policy underwritten by ICICI Lombard and enjoy the benefit of stress-free and secured transactions. It can be availed at Rs 99 per month and with a sum insured of Rs 50,000. |
| Source- ANI News |
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