Transmission utility Power Grid Corporation of India Ltd (Powergrid) is set to acquire 74 per cent stake in Jaypee Powergrid Ltd-JV (JPL) for an undisclosed amount.

The company on Monday signed a share purchase agreement with Jaiprakash Power Ventures Ltd (JPVL) that will allow it to take full control of the joint venture. Post acquisition, JPL will become a wholly-owned subsidiary of Powergrid.

Powergrid, which currently holds 26 per cent equity in JPL, has developed a 214 km long EHV power transmission project to evacuate power from Karcham-Wangtoo project in Himachal Pradesh.

The power transmitted is meant for distribution and consumption in states of Himachal Pradesh, Haryana, Punjab, Uttar Pradesh and Rajasthan.

Wuling Hong Guang Mini EV is a small mini electric vehicle that is giving Tesla Model 3 run for the money. Yes, this made-in-China small electric car has become the world’s bestselling EV in January and February 2021, by beating the Tesla Model 3 electric sedan.

The Hong Guang Mini EV sells in China at a price of 28,800 yuan, which is nearly $4,500. On the other hand, the Tesla Model 3 rear-drive Standard Range Plus variant’s price starts at $38,190.

Despite the small electric car lagging behind Tesla Model 3 in terms of battery capacity, range, and performance, Wuling Hong Guang Mini EV convenience and affordable pricing have made it the world’s bestselling electric vehicle.

Tata Consultancy Services (TCS) became the first major IT services company to announce a pay increment for financial year 2021-22. The salary hike would come into effect from April 2021, a TCS spokesperson said on March 19.

"We can confirm that we are on track to give increments to all associates across our geographies effective April 2021, in line with our benchmarks," the company said in a statement.

"This step is a reflection of our steadfast commitment to our associates," the TCS spokesperson added.

This would be the second salary hike which the company would implement within a span of six months. The previous pay increment cycle was delayed due to the outbreak of COVID-19 pandemic in March last year.

The much awaited Scrappage Policy has been discussed today in Lok Sabha. As per Union minister Nitin Gadkari, a vehicle will have to undergo mandatory fitness test failing which it will be declared ‘An-End-of-Life’. 20 years is a vehicle life designated by centre and carmakers and once this time is over, a vehicle will have to take the fitness test at dedicated fitness centres to prove the road worthiness of the vehicle.

here is also good news for consumers who are going to junk their old vehicles and buy a new one under the Vehicle Scrapping Policy as automakers will give about 5 per cent rebate on the new purchase, Union minister Nitin Gadkari has said. The voluntary vehicle scrapping policy announced in the Union Budget for 2021-22 provides for fitness test after 20 years for personal vehicles while commercial vehicles would require it after the completion of 15 years.

Indian state refiners are planning to cut oil imports from Saudi Arabia by about a quarter in May, in an escalating stand-off with Riyadh following OPEC's decision to ignore calls from New Delhi to help the global economy with higher supply.

Two sources familiar with the discussions said the move was part of the government's drive to cut dependence on crude from the Middle East.

Indian Oil Corp, Bharat Petroleum Corp., Hindustan Petroleum Corp and Mangalore Refinery and Petrochemicals Ltd are preparing to lift about 10.8 million barrels in May, the sources said on condition of anonymity.