Adani signs coal mining pact with NLC India

New Delhi

Adani Enterprises on Monday said it has signed a coal mining agreement with NLC India Ltd for development and operation of Talabira II and III coal block. “The project is expected to generate revenue of Rs 12,200 crore. The block is located in IB valley coalfields in Sambalpur and Jharsuguda in Odisha and the mine capacity shall be of 20 million tonne per annum (MTPA) with total minable reserve of about 554 MT,” Adani Enterprises said. PTI

Mumbai

Tata Power sells stake in Tata Comm

As part of the group’s move to bring down cross-holding among group companies and also exit non-core businesses by restructuring investment portfolios, Tata Power on Monday decided to sell its stake in Tata Communications and its holding firm Panatone Finvest to Tata Sons for around Rs 2,150 crore. The move is a part of the company’s plan to monetising non-core assets and improving the balance sheet for the next phase of growth. PTI

Hyderabad

Microsoft opens ‘Garage’ in Hyderabad

Microsoft on Monday announced the opening of the ‘Garage’ here. The Garage is a platform for Microsoft employees that supports and encourages a culture of experimentation, working together across organisations and technology to explore ideas and build prototypes, adding value to existing products, the company said. The facility was inaugurated by Telangana IT Minister KT Rama Rao. PTI

Mumbai

Sensex soars 470 points on banks’ support

Indian stock market reversed its two-session downtrend on Monday, with the benchmark Sensex rising by over 470 points and the NSE Nifty by 133 points after an emergence of buying in recently beaten-down banking counters amid easing fears on global trade war.  PTI

Jaipur

Over 22,000 Aircel users switch to BSNL

Telecom operator BSNL has added 44,000 new mobile subscribers in Rajasthan in March through mobile number portability (MNP). Out of these, 22,044 subscribers were of Aircel, which has closed its operations in the state, said BSNL chief general manager OP Gupta. OC