The Union Bank of India’s board on Wednesday approved a capital raising plan of Rs 10,100 crore, the lender informed the exchanges on Wednesday.

The bank will raise upto Rs 8,000 crore through a public issue, rights issue or via private placement including qualified institutional placement (QIP) of a private placement.

India’s consumer affairs department and a German ministry signed on Tuesday an agreement on improve quality infrastructure.

The work plan was signed at the ninth annual meeting of the Indo-German working group on quality infrastructure in Berlin.

Fly91, a regional start-up airline based in Goa, has received 'no objection' clearance (NOC) from the civil aviation ministry to start operations.

Fly91 aims to start flights in the October-December quarter. It is promoted by Harsha Raghavan, the former Fairfax India head, and Manoj Chacko, executive vice president of suspended Kingfisher Airlines.

On Wednesday, Municipal Corporation of Delhi (MCD) mayor Shelly Oberoi, a candidate from the Aam Aadmi Party (AAP), was chosen by a unanimous vote. Shikha Rai, a Greater Kailash-based BJP councillor and the party's candidate for mayor, withdrew her candidature.

Shikha Rai, a candidate for the BJP, and assigned Shelly Oberoi, an AAP member, squared off in the Delhi mayoral election on Wednesday. The Civic Centre, the MCD's administrative centre, served as the location of the election. The Municipal Corporation of Delhi (MCD) is governed by the Aam Aadmi Party (AAP).

Shares of Saksoft hit a fresh record high of Rs 244.70, as they soared 17 per cent on the BSE in Wednesday’s intra-day trade amid heavy volumes. In past two days, the stock has zoomed 33 per cent from a level of Rs 183.80. In comparison, the S&P BSE Sensex was up 0.06 per cent at 60,165 at 11:35 AM.

The average trading volumes at the counter more-than-doubled today. A combined 3.95 million equity shares representing 3.7 per cent of total equity of Saksoft so far changed hands on the NSE and BSE.

Anil Agrawal, Chairman of Vedanta Group, said on Tuesday, April 25, that Vedanta Resources Limited (VRL) stands strong and stable and can comfortably take care of its future debt obligations, The Economic Times (ET) has reported. He added that there should be no doubt about the company's ability to meet its obligations, and the talks about the group being over-leveraged hold little value.

The 69-year-old billionaire told ET, "We are very, very comfortable." Reiterating the company's solid financials, Agrawal said that Vedanta had not defaulted even once in the last 25 years.

Government companies, BSNL and MTNL, have been asked by the Department of Telecommunications (DoT) to come up with a list of assets that can be monetised, a Financial Express (FE) report said.

People aware of the specifics of the development told FE that the government had asked these firms to identify core and non-core assets with a value of up to Rs 10 crore that can be monetised.

In a bid to expand its petrochemicals manufacturing capacity, the Oil and Natural Gas Corp (ONGC) will invest Rs 1 trillion by 2030, a report by The Economic Times (ET) said. This is a part of the Centre's larger plan to make India a major global petrochemical hub.

ONGC's joint venture ONGC Petro additions Ltd (OPaL) and its subsidiary Mangalore Refinery and Petrochemicals Ltd (MRPL) will implement the expansion plans. The Maharatna company is targeting to double the production of these companies to 8 million metric tonnes per annum by 2030.

The Supreme Court on Monday held that the income tax authorities cannot add to a taxpayer's income under Section 153A of the Income Tax Act if no incriminating evidence is found during a search, a report by BusinessLine (BL) said. The court, however, left the scope for the authorities to re-open the cases of tax violation if any incriminating evidence emerges later.

Section 153A of the I-T Act specifies a process to determine the income of the searched individual. It aims to bring undisclosed income under the tax. The cases can be re-opened under Section 147/148.

In a bid to assist in the last-mile deliveries, electric vehicle (EV)-as-a-service platform Zypp Electric, on Tuesday announced it would deploy 100,000 e-scooters in India in association with Zomato by 2024. This is a part of Zomato's plan to go completely electric by 2030.

Food delivery is all on two-wheelers and is mostly running on petrol and at the same time wanting to shift to EVs to save costs.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.