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 HDFC bank’s plans for its HDB Financial Services & HDFC Securities, also find out about Crude oil prices trading below $100 bbl. Business Term o ... Read more
In this episode, find out about HDFC bank’s plans for its HDB Financial Services & HDFC Securities, also find out about Crude oil prices trading below $100 bbl. Business Term of the Day: non-deliverable forward (NDF) Read more
In this episode, find out why DGCA issued show-cause notice against SpiceJet, and also find out about Reliance Retail’s partnership with US apparel major Gap Inc Business Term of ... Read more
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In this episode, find out about Byju’s fund raising plan for acquisition of 2U, also find out about CCPA’s decision to bar hotels from levying service charge Business Term of the ... Read more
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In this episode, find out why NTPC signed an MoU with the Rajasthan government for the development of 10 GW Ultra Mega Renewable Energy Power Park in Rajasthan, also find out about ... Read more
In this episode, find out why NTPC signed an MoU with the Rajasthan government for the development of 10 GW Ultra Mega Renewable Energy Power Park in Rajasthan, also find out about Coal India’s record production in June Business Term of the Day: Shrinkflation Read more
In this episode, find out about Maruti Suzuki’s plans to increase its share in the SUV segment, also find out about rupee hitting 79/$ for the first time ever Business Term of the ... Read more
In this episode, find out about Maruti Suzuki’s plans to increase its share in the SUV segment, also find out about rupee hitting 79/$ for the first time ever Business Term of the Day: Big tech Read more
In this episode, find out about TVS Motor’s plans to raise funds from PE for its EV biz, also find out about Bijy’s deal to buy 2U. Business Term of the Day: Interest rate differe ... Read more
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In this episode, find out about Tata Motors’ decision to hike the price of commercial vehicles, also find out about Novartis AG’s plan to cut 8000 jobs to save at least $1 billion ... Read more
In this episode, find out about Tata Motors’ decision to hike the price of commercial vehicles, also find out about Novartis AG’s plan to cut 8000 jobs to save at least $1 billion by 2024. Business Term of the Day: Real Effective Exchange Rate Read more
In this episode, find out about Bajaj Auto’s share buyback program, also find out about credit card spends touching all-time high Business Term of the Day: Input tax credit Read more
In this episode, find out about Bajaj Auto’s share buyback program, also find out about credit card spends touching all-time high Business Term of the Day: Input tax credit Read more
In this episode, find out about Adani group’s entry into copper manufacturing, and also find out about Dish TV shareholders’ decision to vote out promoter Jawahar Goel as MD Busin ... Read more
In this episode, find out about Adani group’s entry into copper manufacturing, and also find out about Dish TV shareholders’ decision to vote out promoter Jawahar Goel as MD Business Term of the Day: Capital gain Read more
In this episode, find out about realty major Macrotech Developers’ entry in Bengaluru market, also find out about HUL’s concerns on inflation. Business Term of the Day: Recession Read more
In this episode, find out about realty major Macrotech Developers’ entry in Bengaluru market, also find out about HUL’s concerns on inflation. Business Term of the Day: Recession Read more
