Indian

ICICI Gen acquiers Bharti AXA Gen in an all- stock deal valued at Rs 4,200 crore

Aug 21, 2020

AXA and Bharti to combine their non-life operations in India into ICICI Lombard, in exchange of shares, said Axa.

Under the terms of the agreement, AXA and Bharti will receive a total of 35.8 million shares of ICICI Lombard on closing, which would represent Euro 521 million at current market value, and an implied HY 2020 P/BV4 multiple of more than five times. The transactionis expected to result in a one-time positive net income of approximately Euro 0.2 billion in AXA Group’s FY 2021 consolidated financial statements,said AXA..

Nine killed in major fire in Telangana’s Srisailam hydel power plant

Aug 21, 2020

“The accident happened when a sudden fire broke out in the electric panels. Employees, who sensed danger made all efforts to extinguish the fire. The entrapped employees tried to save the plant from catching fire without even caring for their lives”

India’s COVID-19 caseload crosses 28-lakh mark

Aug 20, 2020

There are 6,86,395 active cases of coronavirus infection in the country which is 24.20 per cent of the total caseload, the data stated.

India’s COVID-19 tally had crossed the 20-lakh mark on August 7

India faces protracted slowdown as virus clouds rural revival

Aug 20, 2020

“The economic situation has in fact worsened since April and May, and we are likely moving towards a longer economic slowdown than earlier expected,” a finance ministry official said.

The official pointed to sluggish consumer demand and a slowdown in rural lending as causes for concern.

“The situation on the economy front is very serious and the government’s hands are tied on the fiscal front,” a government adviser with direct knowledge of India’s budget plans said.

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