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Aon India's survey projects 7.7% salary hike in 2021 against 6.1% in 2020

With positive business sentiment gradually growing within India Inc after a tough Covid-19 pandemic hit 2020, salary increment is being projected to grow from actual average 6.1 per cent last year to a projected average of 7.7 per cent in 2021. Findings in the latest Salary Increase Survey in India by global professional services firm Aon plc shows that more companies plan to give increments, with 88 per cent expressing the desire in 2021 as compared to 75 per cent companies in 2020. The study analysed data across 1,200 companies from more than 20 industries

NTPC inks pact to buy GAIL's 25.1% stake in Ratnagiri Gas and Power

State-owned NTPC on Tuesday said it has signed a share purchase agreement to buy GAIL’s 25.51 per cent stake in Ratnagiri Gas and Power (RGPPL), commonly known as Dabhol project. After the transaction is complete, NTPC would have 86.49 per cent stake in the RGPPL. Earlier in January, the company had announced acquiring 35.47 per cent stake in RGPPL from its lenders. Initially, NTPC and GAIL had 25.51 per cent stake each in the Dabhol project. “NTPC has executed share purchase agreements with GAIL (India) on February 23, 2021, for purchase of GAIL's share (25.51 per cent) in Ratnagiri Gas and Power (RGPPL) and sale of NTPC’s share (14.82 per cent) (on fully dilutive basis) in Konkan LNG Ltd (KLL),” according to a BSE filing.

Blast at UPL plant kills two, Gujarat govt orders closure of unit

The Gujarat government on Tuesday issued a closure notice to UPL’s agrochemical plant at Jhagadia near Bharuch after a late night blast led to a fire at UPL-5 unit, which claimed two lives and left 20 injured. Five laborers are still missing, according to local reports. “Following the incident, officers of the Director Industrial Safety and Health (DISH), which functions under the Labour and Employment department, rushed to the site immediately and issued a closure order to the plant at Jhagadia,” the department stated on Tuesday.

Bharti Airtel, US chipmaker Qualcomm team up for 5G push in India

Telecom operator Bharti Airtel and US chipmaker Qualcomm on Tuesday announced collaboration for accelerating 5G in India. Airtel recently became India's first telco to demonstrate 5G over a live commercial network in Hyderabad city, underlining the company's technology capabilities.

Cochin Shipyard bags Rs 10,000-crore Navy order for six missile vessels

Cochin Shipyard on Tuesday said it has emerged as the lowest bidder for a Rs 10,000-crore contract by the Indian Navy, to build Next Generation Missile Vessels. The state-owned company has emerged as a forerunner in the Indian shipbuilding and ship repair industry that can build and repair the largest vessels in India. "At the meeting held today (February 23) at the Ministry of Defence, New Delhi, Cochin Shipyard Ltd (CSL) has been declared as L1 (the lowest bidder) in the tender floated by the Indian Navy for construction of six Next Generation Missile Vessels (NGMV)," CSL.

Zuari Agrochemicals to sell Goa fertiliser plant to Paradeep Phosphates

Zuari Agrochemicals (ZACL) on Tuesday said it will sell its fertiliser plant and the associated businesses at Goa to Paradeep Phosphates (PPL) for an enterprise value of USD 280 million (over Rs 1,100 crore). The company's board, at its meeting held on Tuesday, approved the sale of its fertiliser plant at Goa and the associated businesses by way of a slump sale to PPL for a lump sum consideration (enterprise value) of USD 280 million, ZACL said in a statement.

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