Transcript Vedanta: Anil Agarwal-led Vedanta Ltd has declared an interim dividend of ₹13 per equity share, which will lead to an outgo of ₹4,832 crore for the mining major. This was the third interim dividend for the fiscal year 2021-22. The record date for the purpose of payment of dividend is 10 March.
FMCG companies: Sales volume of fast-moving consumer goods fell 2.6% year-on-year in the December quarter, with inflation causing a sharp dip in rural demand after five quarters of positive growth. Higher inflation in 2021 led to three consecutive quarters of double-digit price increases resulting in consumption slowdown in urban markets and consumption de-growth in rural centres.
UPL Ltd: The agri-chemicals major has announced a buyback of shares worth up to ₹1,100 crore from shareholders, excluding promoters. In a regulatory filing, the company said its board has approved the proposal to buy back fully paid-up equity shares of face value of ₹2 each from shareholders (other than the promoters, the promoters group and persons in control of the company),
Max Financial Services: Subsidiary Max Life Insurance Company Ltd has incorporated a wholly-owned subsidiary Max Life Pension Fund Management Ltd and will infuse ₹55 crore into the firm by subscribing to 5.5 crore shares.
Suzlon Energy: Lenders have approved a plan by Suzlon Energy to convert part of its debt of ₹4,100 crore into equity that would see creditors’ stake rise to 35%, while that of promoter Tulsi Tanti’s would fall to 12.7% from 16% after the dilution. REC, a power sector lender, would pick up a 4.3 % by giving fresh loans to Suzlon that would be used by the firm to refinance older loans.
Moving on to markets
Stocks rose Thursday while bonds fell after U.S. Federal Reserve Chair Jerome Powell pointed to a measured interest-rate liftoff.
Major markets in Asia held gains this morning tracking cues from the US counterparts.
The key benchmark indices are likely to start trade on a flat note. SGX Nifty futures, were quoting 16,641 levels this morning, 30-odd points higher from Wednesday’s close.
oil continued to surge on expectations the market will remain short of supply for months to come amid the Russia-Ukraine war.
Brent futures soared to an intraday high of $121.89 a barrel, before settling 7.6 per cent higher at $112.93.
Business term of the day
Stock buybacks refer to the repurchasing of shares of stock by the company that issued them. A buyback occurs when the issuing company pays shareholders the market value per share and re-absorbs that portion of its ownership that was previously distributed among public and private investors. With stock buybacks, aka share buybacks, the company can purchase the stock on the open market or from its shareholders directly. In recent decades, share buybacks have overtaken dividends as a preferred way to return cash to shareholders.
In this episode, find out about Phone Pe’s latest fund raising, also find out about wholesale price inflation easing to 4.7% in January Business Term of the Day: Disinflation Read more
In this episode, find out about Phone Pe’s latest fund raising, also find out about wholesale price inflation easing to 4.7% in January Business Term of the Day: Disinflation Read more
In this episode, find out about Kotak Mahindra Bank’s move to sell stake in the general insurance business, also find out about Nissan’s plans to invest Rs 5000 cr in India Busine ... Read more
In this episode, find out about Kotak Mahindra Bank’s move to sell stake in the general insurance business, also find out about Nissan’s plans to invest Rs 5000 cr in India Business Term of the Day: Commercial Real Estate Read more
In this episode, find out about Kotak Mahindra Bank’s acquisition of Sonata Finance, also find out M&M’s plan to roll out its first EV from Telangana Business Term of the Day: ... Read more
In this episode, find out about Kotak Mahindra Bank’s acquisition of Sonata Finance, also find out M&M’s plan to roll out its first EV from Telangana Business Term of the Day: Rating outlook Read more
In this episode, find out about Bharti Airtel’s partnership with Vultr, also find out about Aditya Birla Group’s foray into premium dining Business Term of the Day: Free float Read more
In this episode, find out about Bharti Airtel’s partnership with Vultr, also find out about Aditya Birla Group’s foray into premium dining Business Term of the Day: Free float Read more
In this episode, find out about ONGC’s talks with energy giants for deep water exploration tech, also find out why Bharti Airtel’s Q3 earnings missed estimates Business Term of t ... Read more
In this episode, find out about ONGC’s talks with energy giants for deep water exploration tech, also find out why Bharti Airtel’s Q3 earnings missed estimates Business Term of the Day: Standing Deposit Facility Read more
In this episode, find out about RIL-Ashok Leyland’s move to launch India’s first hydrogen internal combustion engine powered heavy-duty truck, also find out why the government is o ... Read more
In this episode, find out about RIL-Ashok Leyland’s move to launch India’s first hydrogen internal combustion engine powered heavy-duty truck, also find out why the government is opposing Hindustan Zinc’s plan to purchase Vedanta Resources’ global zinc assets Business Term of the Day: Credit Deposit Ratio Read more
In this episode, find out about NSE’s decision to place Adani group companies under ASM framework, also find out why the government is not looking to sell additional shares in LIC ... Read more
In this episode, find out about NSE’s decision to place Adani group companies under ASM framework, also find out why the government is not looking to sell additional shares in LIC Business Term of the Day: Budget Estimate Read more
In this episode, find out about why Citigroup’s weath arm has stopped accepting Adani Group securities, also find out why the budget announcement can hit life insurance business ... Read more
In this episode, find out about why Citigroup’s weath arm has stopped accepting Adani Group securities, also find out why the budget announcement can hit life insurance business Business Term of the Day: Artificial Intelligence Read more
In this episode, find out about Adani’s acquisition of Israel’s Haifa Port, also find out why economic survey has pegged growth lower at 6.5% in FY24 Business Term of the Day: Eco ... Read more
In this episode, find out about Adani’s acquisition of Israel’s Haifa Port, also find out why economic survey has pegged growth lower at 6.5% in FY24 Business Term of the Day: Economic survey Read more
In this episode, find out about Welspun International’s brand licensing agreement with Walt Disney, also find out why Sephora and Reliance Retail deal fell through Business Term o ... Read more
In this episode, find out about Welspun International’s brand licensing agreement with Walt Disney, also find out why Sephora and Reliance Retail deal fell through Business Term of the Day: Short squeeze Read more