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 who are the finalists for Capital Foods, also find out why CEA Anantha Nageswaran is confident of 6.5% growth Business Term of the Day: Surety bon ... Read more
In this episode, find out about who are the finalists for Capital Foods, also find out why CEA Anantha Nageswaran is confident of 6.5% growth Business Term of the Day: Surety bond. Read more
In this episode, find out about Private equity players eye Glenmark Life Sciences, also find out HUL-Genpact deal to help scale small businesses Business Term of the Day: Debt ce ... Read more
In this episode, find out about Private equity players eye Glenmark Life Sciences, also find out HUL-Genpact deal to help scale small businesses Business Term of the Day: Debt ceiling Read more
In this episode, find out about NCLT’s rejection of IDBI bank’s insolvency plea against Zee, also find out DOT’s worry over Vi’s fund delay Business Term of the Day: Demonetisati ... Read more
In this episode, find out about NCLT’s rejection of IDBI bank’s insolvency plea against Zee, also find out DOT’s worry over Vi’s fund delay Business Term of the Day: Demonetisation Read more
State Bank of India (SBI) reports record standalone profit in Q4 FY23, driven by strong net interest income (NII) and lower provisions, surpassing the previous best. Business Term ... Read more
State Bank of India (SBI) reports record standalone profit in Q4 FY23, driven by strong net interest income (NII) and lower provisions, surpassing the previous best. Business Term of the Day - Tax collected at source. Read more
In this episode, find out about Goldman Sachs slashing Adani Group stake in ESG funds, also find out Manyavar promoters’ OFS launch Business Term of the Day: Liberalised Remittan ... Read more
In this episode, find out about Goldman Sachs slashing Adani Group stake in ESG funds, also find out Manyavar promoters’ OFS launch Business Term of the Day: Liberalised Remittance Scheme Read more
In this episode, find out about BPCL’s new ethylene project at Bina refinery, also find out why Fame 2 subsidy on EVs could be slashed Business Term of the Day: Structured credit Read more
In this episode, find out about BPCL’s new ethylene project at Bina refinery, also find out why Fame 2 subsidy on EVs could be slashed Business Term of the Day: Structured credit Read more
In this episode, find out why SEBI has sought a 6 month extension to complete probe no Adani Group, also find out about the new Vedanta CFO. Business Term of the Day: Alternative ... Read more
In this episode, find out why SEBI has sought a 6 month extension to complete probe no Adani Group, also find out about the new Vedanta CFO. Business Term of the Day: Alternative Investment Fund. Read more
In this episode, find out about Godrej promoters’ new family office, also find out why markets are up in trade today. Business Term of the Day: Family office. Read more
In this episode, find out about Godrej promoters’ new family office, also find out why markets are up in trade today. Business Term of the Day: Family office. Read more
In this episode, find out how Vedanta is looking to become a net zero debt company, also find out about India’s manufacturing PMI hitting 4 months high in April Business Term of t ... Read more
In this episode, find out how Vedanta is looking to become a net zero debt company, also find out about India’s manufacturing PMI hitting 4 months high in April Business Term of the Day: CCIL Read more
In this episode, find out about revision in LPF cylinder prices, also find out why SEBI’s investigation into Hindenburg’s allegations is delayed. Business Term of the Day: SaaS Read more
In this episode, find out about revision in LPF cylinder prices, also find out why SEBI’s investigation into Hindenburg’s allegations is delayed. Business Term of the Day: SaaS Read more
