12/5/22, 8:26 PM Business affairs 2022 Part 1 – GKmojo

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Protected: Business affairs 2022 Part 1

1. Tata Consumer is set to acquire India’s largest packaged drinking water company, Bisleri, for
an estimated Rs 6,000-7,000 crore.
Several companies including Coca-Cola India through its brand Kinley, PepsiCo’s Aquafina, Bailley
from Parle Agro and Indian Railway Catering and Tourism Corporation (IRCTC)’s Rail
Neer compete in the segment but they all trail the market leader Bisleri.

2. India has become LinkedIn’s fastest-growing market as more companies and advertisers come
online, with sales in the country rising at a 50% year-on-year clip. LinkedIn is a “The Microsoft”
owned business networking service company.

3. IT company Wipro has reached an agreement with employee representatives on setting up

a European Works Council, the company said. The creation of Wipro’s EWC is the first to be
established an Indian headquartered company.

4. Reliance Industries Ltd (RIL) has been awarded the project to build India’s first multimodal
logistics park (MMLP) in Chennai, Tamil Nadu.

5. Life Insurance Company (LIC) has increased its shareholding in Voltas buying an additional
2 per cent stake. The state-owned life insurer increased its shareholding from 2,27,04,306 shares
(equivalent to 6.862 per cent) to 2,93,95,224 (8.884 per cent) in Voltas. Voltas is engaged in the
business of air conditioning, refrigeration, electro-mechanical projects as an EPC (engineering,
procurement and construction) contractor both in domestic and international market.

6. Reliance Industries is set to acquire German retailer Metro AG’s Cash & Carry business in
India in a deal estimated at around €500. Metro Cash & Carry’s customers include retailers and
Kirana stores.

7. India’s largest wind turbine Adani: Adani New Industries Ltd. has constructed a wind
turbine in Mundra in Gujarat as part of its growth plans for renewable energy.

8. Hyderabad-based Megha Engineering and Infrastructure Limited (MEIL) has taken up a

project to build Mongolia’s first Greenfield oil refinery in Ulaanbaatar.

9. Elon Musk announced that the Twitter Blue Tick service will come with a monthly cost of USD 8
which is about Rs 660. Twitter Blue Tick service includes the coveted verified badge.

10. Reliance Industries Limited (RIL) posted the proceedings of its Q2 FY 2022-23 earnings call
on the metaverse. This is the first time in the history of corporate India that a company has used
metaverse.

11. Dabur India to acquire 51 percent stake in Badshah Masala in a Rs 587.52 crore deal. Dabur
India marks its entry into the fast-growing spices and seasoning category.

12. Sony and Zee media groups have voluntarily agreed to sell their three Hindi Channels- Big
Magic, Zee Action, and Zee Classic to address possible anti-competition concerns arising out
of their proposed mega-merger deal. Sony and Zee have submitted their proposals to
the Competition Commission of India (CCI).

13. Elon Musk Fires Twitter CEO Parag Agrawal: Elon Musk finally completed his $44 billion
acquisition of Twitter Inc., after six months of public and legal battle over the purchase.

14. Coca-Cola, global soft drinks company announced that its lemon and lime-flavored soft drink
‘Sprite’ has become a billion-dollar brand in the Indian market.

15. The rules and regulations for online payments for debit and credit cards have been changed. The
Reserve Bank of India’s (RBI) card-on-file (CoF) tokenization norms came into effect on 1st
October 2022

1. Ageas Federal Life Insurance (AFLI) announced that after Belgium-based Ageas Insurance
International successfully acquired the 25% investment in the life insurance joint venture (JV)
from IDBI Bank, it has become the first life insurance firm in India with a 74% stake held a

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12/5/22, 8:26 PM Business affairs 2022 Part 1 – GKmojo
foreign partner. For a total cash consideration of Rs 580 crore, Ageas has bought the extra 25%
ownership of IDBI Bank in Ageas Federal Life Insurance.

2. Power sector-focussed non-banking finance company (NBFC) REC Ltd. has been accorded the
status of a ‘Maharatna’ Central Public Sector Enterprise. REC Ltd. is the 12th company to be
given the Maharatna Status.
Introduced in 2010, the Maharatna status is given to the Central Public Sector Enterprises
(CPSE) the Central Government to make these enterprises global giants. This status is granted
to CPSE which recorded more than Rs. 5,000 crores of net profit for three consecutive years, an
average annual turnover of Rs.25,000 crore for three years and recording an average net worth of
Rs.15,000 crore for three years.

3. Adobe announced that it would acquire design software company Figma for roughly $20 billion in
cash and equity.

4. Google acquire Mandiant: Google for $5.4 billion acquired Cybersecurity company Mandiant
has been fully acquired according to Thomas Kurian, CEO of Google Cloud.

5. Navi Technologies approved SEBI: The Securities and Exchange Board of India (SEBI) has
given Sachin Bansal’s fintech business Navi Technologies the go-ahead for an IPO.

6. The Competition Commission of India (CCI) approved the acquisition of 100 percent equity of
Indiaideas.com (Billdesk) PayU Payments.

7. Tata Motors Marcopolo was a Joint Venture between Tata Motors (India) and Marcopolo, its
Brazilian partners. Tata motors have announced that now they have completed the Acquisition of
the other part of the JV.

8. Reliance Industries chairman Mukesh Ambani has announced to build of India’s first and one
of the world’s largest Carbon Fibre plants.

9. Bharat Petroleum Corporation Ltd (BPCL) the 100% subsidiary, Bharat Gas Resources Ltd
(BGRL), has merged with the parent company. MCA issued the decree authorising this merger

10. Adani Group founder, Gautam Adani has set the ball rolling to acquire a controlling stake of
55.18% in New Delhi Television (NDTV).

11. Ratan Tata, a pioneer in the field, unveiled Goodfellows, a firm that offers senior folks
companionship services. Goodfellows completed a successful beta test over the past six months

12. Mastercard announced that Badminton players Lakshya Sen, Kidambi Srikanth, Satwiksairaj
Rankireddy and Chirag Shetty will come on board as brand ambassadors.

13. Shiprocket, a logistics technology platform supported Zomato, raised $33.5 million (about Rs
270 crore) in a fundraising round co-led Temasek and Lightrock India, Shiprocket becoming the
106th unicorn in India. With the new capital, Shiprocket was valued at about $1.2 billion.

14. Infosys bought BASE Life Science for around 110 million euros (Rs. 875 crore). The acquisition
will expand Infosys’ knowledge in the life sciences industry.

15. Ola Electric has unveiled the country’s first indigenously developed lithium-ion cell. The
Bengaluru-based two-wheeler maker will begin the mass production of the cell- NMC 2170, from
its Chennai-based Gigafactory 2023.

16. Mastercard is all set to replace Paytm as the title sponsor for all international and domestic
cricket matches organised the Board of Control for Cricket in India (BCCI).

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