Top headlines: Airtel approves rights issue; govt aims to RIL shares

Top headlines on the economy, companies and current affairs at this hour.

An Afghan official says three children were killed in a drone strike that the US says targeted a vehicle carrying suicide bombers. Indian IT services companies head to campuses to hire engineers. More in our top headlines this morning.

Bharti Airtel approves Rs 21,000 crore rights issue

Bharti Airtel’s on Sunday approved fund-raising to the tune of Rs 21,000 crore, mainly to make payments towards adjusted gross revenue (AGR)-related liabilities due in 2021-22 (FY22). The board approved the issuance of equity shares of a face value of Rs 5 each of the company on a rights basis to eligible equity shareholders. 

Govt looks to sell 8 lakh shares of RIL

The government is looking to sell shares of Reliance Industries held through Specified Undertaking of the Unit Trust of India and is soon going to appoint an intermediary to manage it. The plan is to sell about 8 lakh shares.

Chip shortage may spoil the party for carmakers

For India’s automakers, the festive season is about raking it in through ramped up sales and attractive consumer offers. However, despite the robust demand, what may spoil the party this year is a global shortage of semiconductors.

3 children killed in US drone strike on IS: Afghan official

An Afghan official says three children were killed in a drone strike that US officials said struck a vehicle carrying Islamic State suicide bombers. U.S. officials said the vehicle was carrying explosives and that the initial strike on Sunday set off secondary explosions.

IT firms flock to campuses

With high attrition and the struggle to fill the skills gap due to a surge in demand on account of digital transformation, the Indian IT services industry is heading back to campuses to hire engineers in thousands.