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 how Sona Comstar & Shyam Metallics performed at the listing yesterday, why US markets rose in Thursday trade Business Term of the Day: Initial Publi ... Read more
In this episode, find out how Sona Comstar & Shyam Metallics performed at the listing yesterday, why US markets rose in Thursday trade Business Term of the Day: Initial Public Offering Read more
In this episode, find out why lenders to DHFL rejected the proposal to increase payouts to small investors, why Dabur is betting on its largest manufacturing plant Business Term o ... Read more
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In this episode, find out why Pfizer is hopeful of bringing its vaccine to India soon, why Asian markets were steady in early trade Business Term of the Day: Divestment Read more
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In this episode, find out why SAT has allowed PNB housing Finance to go ahead with EGM, why Indian markets are likely to open higher Business Term of the Day: Extraordinary Gene ... Read more
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In this episode, find out why Abu Dhabi’s ADQ has invested in Bijus, why US Fed is looking at a rate hike by 2023 end Business Term of the Day: Advance Tax Read more
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In this episode, find out why NCLT questioned the haircut taken by Videocon creditors, why US market is awaiting a crucial FOMC meet today Business Term of the Day: Producer Pric ... Read more
In this episode, find out why NCLT questioned the haircut taken by Videocon creditors, why US market is awaiting a crucial FOMC meet today Business Term of the Day: Producer Price Index Read more
In this episode, find out why RBI is looking to revise the existing microfinance guidelines, why Coal India's Q4 nos missed estimates Business Term of the Day: inflation Read more
In this episode, find out why RBI is looking to revise the existing microfinance guidelines, why Coal India's Q4 nos missed estimates Business Term of the Day: inflation Read more
In this episode, find out why the government plans to bring in a clutch of anchor investors to invest in LIC, which enterprise has set up a new unit to foray into the cement busine ... Read more
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In this episode, find out why Tatas are looking at a re-entry into pharma manufacturing business, why US markets rose despite a high inflation data Business Term of the Day: Cons ... Read more
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In this episode, find out finance ministry is asking for vaccinating 70 crore people by September, why US traders are awaiting the inflation report Business Term of the Day: Mini ... Read more
In this episode, find out finance ministry is asking for vaccinating 70 crore people by September, why US traders are awaiting the inflation report Business Term of the Day: Minimum Support Price Read more
