Global Vectra Helicorp has signed a memorandum of understanding with Era Group Inc to jointly develop helicopter emergency medical services for Indian market. Under the agreement, Global Vectra Helicorp and Era Group Inc will collaborate on an exclusive basis to develop a marketing and operational plan to reach and provide medical assistance to casualties following accidents and disasters, evacuate critical care patients and engage in other lifesaving missions within India. Global Vectra Helicorp and Era Group Inc will leverage their respective expertise and modern, diverse fleet of helicopters to introduce the offering in India, the two companies said. The stock on Tuesday jumped 5 per cent to close at ₹81.95 on the BSE.

NHPC on Tuesday informed the exchanges that the first unit of 40 MW at Teesta low dam hydro electric project (stage IV) in West Bengal has begun commercial operations from Friday. The State-owned hydro power generator will set up three more units of 40 MW each at the site. Shares of NHPC ended flat at ₹21.25 on the NSE.

Reliance Capital Asset Management will hold a meeting of its board of directors on Thursday to consider and give its approval to Nippon Life Insurance’s stake hike in the asset management company to 49 per cent from 35 per cent, parent company Reliance Capital informed the exchanges on Tuesday. Upon completion of the deal, Reliance Capital will garner approximately ₹1,200 crore, the release said. Post the stake-buy, Reliance Capital Asset Management will be renamed as Reliance Nippon Life Asset Management Co and Nippon Life will become a co-sponsor of Reliance Mutual Fund. Shares of Reliance Capital ended 0.44 per cent higher at ₹367.95 on the NSE.

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