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DAILY CORPORATE NEWS
Power Grid gets RBI nod to hike FIIs investment
The Reserve Bank of India on Thursday allowed Foreign Institutional Investors ( FIIs) to increase stake in the state-owned Power Grid Corporation through primary market and stock exchanges.
Maruti gets minority shareholder approval for setting up Gujarat plant
Maruti Suzuki has received more than 50% minority shareholder approval for setting up the Gujarat plant as a direct subsidiary of Suzuki Motor, Japan. Suzuki’s subsidiary would set up the plant in Gujarat and would act as a contract manufacturer for Maruti Suzuki. 89.75% of the polled votes were in favour of the resolution and 10.25% votes were against the resolution.
Mindtree launches Loss Control Platform for insurance industry
Mindtree, a leading digital transformation and technology services company has said that it has launched a Loss Control Platform, a cloud based solution for transforming the underwriting and risk assessment process for insurers and risk management companies. The solution will enable insurance companies to reduce business exposure due to more optimized risk selection and lower claim incidences.
HDFC to sell stake in HDFC ERGO to ERGO Insurance
Leading finance company, Housing Development Finance Corporation (HDFC) has said that it has entered into an agreement with the ERGO Insurance Group, Düsseldorf, Germany ( ERGO) in which ERGO will increase its stake in HDFC ERGO General Insurance Company Ltd (HDFC ERGO).
Sobha surges on launch of first commercial project
Sobha rose over 2%, touching to Rs319.05, after the company announced the launch of its first commercial project, Sobha City Mall, at Puzhakkal in Thrissur, Kerala.
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