Bharti Airtel is likely to raise up to ₹5,000 crore soon through rupee-denominated bonds from the domestic market as the Sunil Mittal-led company seeks to refinance high-cost debt and fortify its balance sheet ahead of the 5G spectrum auction. This will be part of the ₹7,500 crore fundraising plan announced by the company earlier this month.
Vedanta: Announced that it has made an oil discovery in its exploratory well in Rajasthan’s Barmer district. In a regulatory filing, Vedanta said it has notified the Directorate General of Hydrocarbons and the petroleum ministry about the oil discovery in a block that was awarded to it under the Open Acreage Licensing Policy (OALP). This is the third hydrocarbon discovery notified by the company under the OALP portfolio.
The Supreme Court has agreed to hear in open court a review plea filed by Cyrus Investments Ltd. against its order setting aside an appellate tribunal order which had restored Cyrus Mistry as the executive chairman of the Tata group. The petitions will be heard in open court on 9 March.
Rbi will enter into sell-buy swaps worth $5 billion with banks to elongate the maturity profile of its forward dollar book. The 2-year USD/INR sell-buy swap auction will be held on March 8. This will enable access to a wider set of market participants and smoothen receivables relating to forward assets
IDFC First Bank: Managing Director and CEO V. Vaidyanathan has gifted 900,000 equity shares to five persons including his trainer, househelp, driver and office support staff.
Moving on to markets
Global equities slumped today while oil jumped to a seven-year high to $97.35 after Russian President Vladimir Putin ordered troops into breakaway regions of eastern Ukraine.
Among the Asian markets, Japan’s Nikkei and Hong Kong’s Hang Seng index were down over 2% each.
The key benchmark indices are likely to start Tuesday’s session on a highly negative note. SGX Nifty March Futures were quoting 17,062 levels, nearly 200 points lower than Nifty March futures spot close the previous day.
Business term of the day
Dollar – Rupee Swap – is a useful addition to the RBI’s policy toolkit as it offers the central bank a chance to directly influence both the value of the rupee and the amount of liquidity in the economy at the same time using a single tool. the central bank provides either dollar liquidity or rupee liquidity by accepting the opposite currency. This is inturn returned at the end of the swap period.
In this episode, find out about Adani's plans to divest stake in Adani Wilmer, also about Zee Learn's decision to sign a settlement pact with JC Flowers ARC. Business Term of the D ... Read more
In this episode, find out about Adani's plans to divest stake in Adani Wilmer, also about Zee Learn's decision to sign a settlement pact with JC Flowers ARC. Business Term of the Day: Bonus shares Read more
In this episode, find out about Paytm's new auditors, also about promoter' stake sale in Inox Wind Business Term of the Day: Churn rate Read more
In this episode, find out about Paytm's new auditors, also about promoter' stake sale in Inox Wind Business Term of the Day: Churn rate Read more
In this episode, find out about RBI's approval to ICICI bank to increase stake in ICICI Lombard General Insurance Co Ltd, also about the big news announcements that market is watch ... Read more
In this episode, find out about RBI's approval to ICICI bank to increase stake in ICICI Lombard General Insurance Co Ltd, also about the big news announcements that market is watching this week. Business Term of the Day: Burn rate. Read more
In this episode, find out about Blackstone looking to submit non-binding bid for 33% promoter stake in Cipla, also about Zomato turning profitable. Business Term of the Day: Curren ... Read more
In this episode, find out about Blackstone looking to submit non-binding bid for 33% promoter stake in Cipla, also about Zomato turning profitable. Business Term of the Day: Currency in circulation Read more
In this episode, find out about Bain Capital selling stake in L&T Finance, also about Rites eying international contracts. Business Term of the Day: Treasury Bills Read more
In this episode, find out about Bain Capital selling stake in L&T Finance, also about Rites eying international contracts. Business Term of the Day: Treasury Bills Read more
In this episode, find out about Maruti Suzuki's Q1 sales figure, also about ED raid on Hero Motocorp chairperson Pawan Munjal. Business Term of the Day: Remittance Read more
In this episode, find out about Maruti Suzuki's Q1 sales figure, also about ED raid on Hero Motocorp chairperson Pawan Munjal. Business Term of the Day: Remittance Read more
In this episode, find out about SBI's fund raising via infrastructure bonds, also about promoter Padmaja Reddy selling stake in Spandana Sphoorty. Business Term of the Day: Alterna ... Read more
In this episode, find out about SBI's fund raising via infrastructure bonds, also about promoter Padmaja Reddy selling stake in Spandana Sphoorty. Business Term of the Day: Alternate Investment Fund (AIF) Read more
In this episode, find out why TCS announces change in senior management, also about Power Grid fund raising plan of upto Rs 5700 Cr via private placement of bonds. Business Term of ... Read more
In this episode, find out why TCS announces change in senior management, also about Power Grid fund raising plan of upto Rs 5700 Cr via private placement of bonds. Business Term of the Day: Angel investor Read more
In this episode, find out why ITC Ltd chose to retain 40% in de-merged ITC hotels, also about US court denying Go First emergency arbitration. Business Term of the Day: Arbitration Read more
In this episode, find out why ITC Ltd chose to retain 40% in de-merged ITC hotels, also about US court denying Go First emergency arbitration. Business Term of the Day: Arbitration Read more
In this episode, find out why Tata Motors is looking to convert its DVR shares into ordinary shares, also about Marico's deal with Satiya Nutraceuticals. Business Term of the Day: ... Read more
In this episode, find out why Tata Motors is looking to convert its DVR shares into ordinary shares, also about Marico's deal with Satiya Nutraceuticals. Business Term of the Day: Differential Voting Rights Read more
