Here is a collection of the most important stories this evening:
Singapore Airlines and Tata Sons to merge Air India, Vistara
Singapore Airlines (SIA) and Tata Sons have agreed to merge Air India and Vistara, with SIA also investing Rs 20,585 million ($250 million) in Air India as part of the transaction, as per a media release issued on November 29.
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Adani Group clinches Dharavi redevelopment project with Rs 5,069-crore bid
Adani Group has won the bid for the redevelopment of Dharavi, one of the largest slum clusters in Asia. "We got three bids of which we opened two financial bids of Adani and DLF as Naman Group did not qualify in the technical bidding. The bid by Adani Group was for Rs 5,069 crore and DLF was Rs 2,025 crore. We will now further go with approval from the state government and also form a special purpose vehicle (SPV) for Dharavi redevelopment,” SVR Srinivas, Chief Executive Office of Dharavi Redevelopment Project, said.
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Taking Stock | Sensex, Nifty hit new highs again on sixth straight day of gains
The Indian equity benchmarks continued their winning run for a sixth straight session to hit record highs again on November 29 amid buying in the pharma, metal and FMCG names. At close, the 30-pack Sensex was up 177.04 points, or 0.28 percent, at 62,681.84, and the Nifty was up 55.20 points, or 0.30 percent, at 18,618.
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GDP growth may more than halve to 6.3% in July-September, finds poll
India's Gross Domestic Product (GDP) growth is expected to more than halve to 6.3 percent in the second quarter of 2022-23 from the first quarter, according to the median of estimates by 15 economists polled by Moneycontrol.
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RBI to launch first pilot for retail digital rupee on December 1
The first pilot for retail digital rupee (e₹-R) will be launched on December 01, 2022, the Reserve Bank of India (RBI) announced on November 29. The pilot would cover select locations in closed user group (CUG) comprising participating customers and merchants, it said. Eight banks have been identified for phase-wise participation in this pilot, the RBI said, adding that the first phase will begin with four banks -- State Bank of India, ICICI Bank, Yes Bank and IDFC First Bank in four cities across the country.
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SBI board approves raising Rs 10,000 crore via infrastructure bonds
State Bank of India (SBI) approved raising Rs 10,000 crore through infrastructure bonds during the financial year 2023, the lender said in an exchange filing. "Raising Infrastructure Bonds up to an amount of Rs. 10,000 crores (including a green shoe option of Rs. 5,000 crores) through a public issue or private placement, during FY23," the release said.
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Uniparts India IPO opens tomorrow | 10 things to know before subscribing to the issue
Engineered systems manufacturer Uniparts India will be the last initial public offering (IPO) to open for subscription in November. The public issue will open on November 30 and the bidding will continue till December 2, 2022. The anchor book opened for a day on November 29. The company has fixed a price band of Rs 548-577 per share.
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