In this episode, find out why Vedanta scrapped its plans to rejig its corporate structure, also find out why oil prices rose in trade. Business Term of the Day: Liquidity Adjustment Facility (LAF) Bharti Airtel Ltd.’s board approved debt fundraising of up to Rs 7,500 crore. The board granted approvals for raising funds through the issuance of secured and unsecured, listed and unlisted non-convertible debt securities. Last month, Bharti Airtel announced a $1 billion partnership with Google LLC. to focus on enabling affordable access to smartphones across price ranges Telecom operator Bharti Airtel on Tuesday reported a 2.8 per cent decline in its consolidated net profit to ₹830 crore for the third quarter ended December 2021. The company had recorded a net profit of ₹854 crore in the same period a year ago. Mining major Vedanta Ltd said it has dismissed the plans to rejig its corporate structure, after completing its reorganisation review. The company has reached the conclusion that its current structure is optimal. The regulatory filing also noted that Vedanta would be distributing a minimum of 30 percent of the attributable profit after tax (excluding profits of HZL) as dividends. Moving on to markets Indian indices may witness a positive start on Wednesday. Yesterday’s session saw the indices the end in the green after a highly volatile session The US market on Tuesday ended sharply higher. The Wall Street was lifted by Microsoft and Amazon, while a spike in Treasury yields boosted bank stocks. Wall Street’s positive end lifted the spirits in Asia on Wednesday as shares in most major markets advanced. Oil prices nudged up following two sessions of losses after industry data showed an unexpected drop in U.S. crude and fuel stocks. Brent crude futures rose 23 cents to $91.01 a barrel. Business term It is a monetary policy tool used by RBI to manage liquidity and provide economic stability. Both Repo & Reverse Repo Operations are covered under LAF. It was introduced by RBI as a result of the Narasimham Committee on Banking Sector Reforms (1998). It helps manage inflation in the economy.
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