India has bought more than twice as much crude oil from Russia in the two months since its invasion of Ukraine as it did in the whole of 2021, according to Reuters calculations, as Indian refiners snapped up discounted oil that others have shunned.

Refiners in India have placed orders for at least 40 million barrels of Russian oil since the invasion on Feb. 24, Reuters calculations based on information from crude tenders and traders show. The purchases are for loading in the June quarter.

20 months after announcing that it would buy Future Group’s retail, wholesale and logistics business for Rs 24,713 crore, Mukesh Ambani’s Reliance Industries on Sunday backed out of it.

Reliance said the deal cannot be implemented after the secured creditors of Future Group’s flagship firm Future Retail, which operates Big Bazaar and Easyday stores, voted against it.

Fintech major Paytm has appointed Srinivas Yanamandra as its Group Head – Regulatory affairs and Policy. He has over 20 years of experience in building compliance systems and processes at large and fast growing businesses.

Yanamandra’s last stint was New Development Bank in Shanghai, where he served as chief of the compliance division. Prior to that, he worked as a compliance professional — both at ICICI Bank and IDFC First Bank in Mumbai — focusing on various aspects of banking regulation including governance, risk management, prudential reporting, risk-based supervision, digital banking, and more.

Automaker MG Motor India on Monday said it has partnered with Bharat Petroleum Corporation Ltd (BPCL) to bolster EV charging infrastructure across the country.

The partnership with BPCL will add momentum to EV adoption by expanding opportunities for intercity travel as the two entities will install EV chargers across highways and within cities, the automaker said in a statement.

The commercial flight operations of Rakesh Jhunjhunwala-backed Akasa Air will be launched in July instead of June.

"As we get closer to the airline launch date, we can now confirm refined estimates on our timelines. We expect our first aircraft delivery by early June 2022, with the intention to start commercial operations in July 2022," Vinay Dube, CEO, Akasa Air, told PTI.

Hero Electric on Monday said it has joined hands with EVIFY, a tech-enabled electric vehicle-based logistics company.

As per the partnership, Hero Electric will deploy 1,000 electric scooters to EVIFY in the next two years.

The first 50 units are already in production and will be delivered by next month, Hero Electric said in a statement.

Bengaluru-based Prestige Estates Projects crossed the presales mark of Rs 10,000 crore in FY22.

This is the highest ever presales for the company and also the highest among listed real estate players that have released their numbers so far.

The company did presales (or sales prior to completion of construction) of Rs 10,382 crore, registering a growth of 90 per cent on a yearly basis.

Adani Power joined the elite group of companies with market capitalisation (m-cap) of Rs 1 trillion after the stock of Gautam Adani-led electric utilities company hit a new high of Rs 272.15. The shares were up 5 per cent on the BSE in an otherwise a weak market on Monday.

At 01:24 PM, Adani Power stood at 49th position in overall market-cap ranking with an m-cap of Rs 1.05 trillion, BSE data shows. On Friday, Adani Power had entered the list of top-50, most valued companies, in terms of market-cap. With today's rally, the stock has zoomed 90 per cent in the past one month as compared to 1 per cent decline in the S&P BSE Sensex.

The Delhi High Court has restrained Punjab & Sind Bank, which recently declared SREI loans as “fraud”, from taking any further steps on the basis of its reclassification till the next hearing.

In an order dated April 22, the court said that till the next date, respondent no. 1 (Punjab & Sind Bank) will stand restrained from taking any further steps or action prejudicial to the petitioner on the basis of the order declaring the petitioner’s bank account as fraud. The petition was filed by SREI promoter, Hemant Kanoria.

Tata Consultancy Services (TCS) in an announcement said that it is expanding its strategic partnership with SBI Cards and Payments Services, India’s largest pure-play credit card issuer, to power the latter’s next leg of digital transformation.

The new engagement is built on a decade-long partnership. TCS had helped the company transform its core cards sourcing platform and digitized a significant portion of the process. The future-ready, agile platform personalized customer experience and helped boost sales and retention.

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