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 L&T's plans to merge Mindtree and L&T Toubro Infotech, also find out about SBI’s move to hike the lending rate after 3 years Business Term ... Read more
In this episode, find out about L&T's plans to merge Mindtree and L&T Toubro Infotech, also find out about SBI’s move to hike the lending rate after 3 years Business Term of the Day: Marginal Cost of funds based lending rate (MCLR) Read more
In this episode, find out about Mahindra Holidays & Resorts’ plans to increase stake in Rocksport Pvt Ltd, also find out Ultra Tech’s plans to invest in UAE based RAK Cement B ... Read more
In this episode, find out about Mahindra Holidays & Resorts’ plans to increase stake in Rocksport Pvt Ltd, also find out Ultra Tech’s plans to invest in UAE based RAK Cement Business Term of the Day: Restricted Stock Units Read more
In this episode, find out about Holcim Group’s plans to exit the India cement business, also find out why auto output fell to levels seen 5 years ago Business Term of the Day: Do ... Read more
In this episode, find out about Holcim Group’s plans to exit the India cement business, also find out why auto output fell to levels seen 5 years ago Business Term of the Day: Downtrading Read more
In this episode, find out about Fino Payments Bank’s move to buy minority stake in PaySprint, also find out why Indian markets will open on a flat note Business Term of the Day: ... Read more
In this episode, find out about Fino Payments Bank’s move to buy minority stake in PaySprint, also find out why Indian markets will open on a flat note Business Term of the Day: Valuation Read more
In this episode, find out about TRAI’s decision to cut base price by 36%, also find out Zee Entertainment’s plans for its movie production business this year Business Term of the ... Read more
In this episode, find out about TRAI’s decision to cut base price by 36%, also find out Zee Entertainment’s plans for its movie production business this year Business Term of the Day: Infrastructure Investment Trust Read more
In this episode, find out about Godrej Group’s plan to launch its NBFC business, also find out about Vodafone Idea’s fund raising talk with Apollo Global For $1 bn Business Term o ... Read more
In this episode, find out about Godrej Group’s plan to launch its NBFC business, also find out about Vodafone Idea’s fund raising talk with Apollo Global For $1 bn Business Term of the Day: Fixed income Read more
In this episode, find out why M&M has terminated its decision to sell Ssang Yong Motor, also find out why Flipkart has raised its internal IPO valuation to $60-70 bn. Business ... Read more
In this episode, find out why M&M has terminated its decision to sell Ssang Yong Motor, also find out why Flipkart has raised its internal IPO valuation to $60-70 bn. Business Term of the Day: Government borrowing Read more
In this episode, find out about Bandhan bank’s bid for IDFC AMC, also find out why Indian markets are likely to trade lower Business Term of the Day: Revenue Read more
In this episode, find out about Bandhan bank’s bid for IDFC AMC, also find out why Indian markets are likely to trade lower Business Term of the Day: Revenue Read more
In this episode, find out why CCI has ordered a probe into Zomato & Swiggy, also find out about Carlyle group selling stake in SBI Cards Business Term of the Day: Merger Read more
In this episode, find out why CCI has ordered a probe into Zomato & Swiggy, also find out about Carlyle group selling stake in SBI Cards Business Term of the Day: Merger Read more
In this episode, find out why lenders of Future Group are looking to auction assets of the retail venture, also find out about HDFC bank’s Q4 business numbers Business Term of the ... Read more
In this episode, find out why lenders of Future Group are looking to auction assets of the retail venture, also find out about HDFC bank’s Q4 business numbers Business Term of the Day: Real interest rate Read more
