Bharti Airtel has decided to acquire an additional 4.7 per cent stake in Indus Towers from Vodafone Group, the company announced on Friday. The two companies signed an agreement on the condition that Vodafone will use the proceeds to invest in Vodafone Idea (Vi) and the latter will clear its pending dues with Indus Towers.

The said acquisition purchase would be at an attractive price representing a significant discount typically available for such large block transactions. In addition, Airtel is also protected with a capped price, which is lower than the price for the block of Indus shares sold by Vodafone on February 24. This shall be value accretive to Airtel and protect its existing significant shareholding in Indus Towers, the company said.

With international crude oil prices hovering around $100 a barrel owing to the Ukraine crisis, Vedanta’s Cairn Oil and Gas batted for import parity pricing on crude oil to boost domestic production. Cairn Oil and Gas is India’s largest private exploration and production company.

It also pushed for a relook of the enhanced oil recovery (EoR) policy by bringing down levies to 40 per cent from the current 70 per cent.

Debt-ridden telecom firm Vodafone Idea Ltd (VIL) on Friday said its board will meet on March 3 to discuss the fundraising option.

British telecom operator Vodafone Plc in a statement earlier stated that it will participate in VIL's fundraising process along with the Aditya Birla group.

SpiceJet on Friday said it will start six flights between India and Bangkok from March 10 onwards.

The airline will introduce daily direct flights connecting Delhi, Mumbai and Kolkata with the Thai capital, the airline's press release said.

New Delhi [India], February 25 (ANI): As COVID-19 cases continue to be reported below the 20,000 mark, Director of All India Institute of Medical Sciences, Randeep Guleria on Friday said the country is currently witnessing the 'tail' of the third wave, however, it will gradually reach the stage of endemic.

Speaking exclusively to ANI, Guleria said, "India is reporting a decline in COVID-19 cases. We will gradually move into a stage where it may become endemic but right now I think we are still seeing the tail of the third wave."

International oil prices retreated from an over seven-year high but was still above USD 100 a barrel and continue to pose threat to India's inflation rate and current account deficit.

While there are no supply concerns as the oil route remained open, consumers will feel the pinch when PSU oil firms start passing on the increase in international rates through a revision in petrol and diesel prices, which have been on a pause for over three-and-a-half-months in view of elections in Uttar Pradesh and four other states.

Shares of Fine Organic Industries hit a record high of Rs 4,318.05, surging 9.5 per cent on the BSE in Friday’s intra-day trade, outperforming the market with a wide margin. The stock of the specialty chemicals company surpassed its previous high of Rs 4,174.10 hit on February 4, 2022.

In the past one week and one month, the stock has gained 8 per cent and 15 per cent, respectively, as compared to a 3 per cent decline in the S&P BSE Sensex.

Shares of Apollo Hospitals Enterprises rallied 7 per cent to Rs 4,681 on the National Stock Exchange (NSE) in Friday's intra-day trade after the exchange announced inclusion of the company in its benchmark Nifty50 index with effect from March 31, 2022.

Apollo Hospitals Enterprises will replace state-owned oil marketing company Indian Oil Corporation (IOCL) in the index. Shares of IOCL were 3 per cent higher at Rs 113.75, after surging 8 per cent to Rs 118.50 on the NSE in the intra-day trade.

Shares of Britannia Industries slipped 3 per cent to Rs 3,352 on the BSE in Friday’s intra-day in an otherwise firm market as input cost pressure concerns weighed on the stock.

The stock of fast moving consumer goods (FMCG) company traded closer to its 52-week low of Rs 3,350 touched on February 26, 2021.

The CBI has arrested former Group Operating Officer of National Stock Exchange Anand Subramanian after expanding its three-year probe into the co-location scam in the exchange in view of "fresh facts" that emerged in a damning Sebi report referring to a mysterious Yogi which was guiding actions of former CEO Chitra Ramkrishna and other irregularities, officials said on Friday.

Subramanian was taken into custody late Thursday night in Chennai, Tamil Nadu, they said.

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