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 TRAI’s new plan to roll out mobile phone caller identity system, also find out about Bajaj Auto’s plans to sell EV scooters in SE markets Business ... Read more
In this episode, find out about TRAI’s new plan to roll out mobile phone caller identity system, also find out about Bajaj Auto’s plans to sell EV scooters in SE markets Business Term of the Day: Certificate of Deposits Read more
In this episode, find out about the listing of Bikaji Foods and Global Health, also find out about ONGC Videsh’s plan to retake its Sakhalin-1 stake Business Term of the Day: Mone ... Read more
In this episode, find out about the listing of Bikaji Foods and Global Health, also find out about ONGC Videsh’s plan to retake its Sakhalin-1 stake Business Term of the Day: Monetary transmission Read more
In this episode, find out about DCX System’ strong listing, also find out why Indian markets have surged in trade today Business Term of the Day: Custodian bank Read more
In this episode, find out about DCX System’ strong listing, also find out why Indian markets have surged in trade today Business Term of the Day: Custodian bank Read more
In this episode, find out about SUUTi’s decision to sell 1.55% stake in Axis Bank, also find out Adani Ports move to buy 49.38% stake in Indian Oiltanking Business Term of the Day ... Read more
In this episode, find out about SUUTi’s decision to sell 1.55% stake in Axis Bank, also find out Adani Ports move to buy 49.38% stake in Indian Oiltanking Business Term of the Day: Clearing House Read more
In this episode, find out about Paytm’s second-quarter earnings, also find out Macrotech’s plans to launch 16 new projects Business Term of the Day: Earnings guidance Read more
In this episode, find out about Paytm’s second-quarter earnings, also find out Macrotech’s plans to launch 16 new projects Business Term of the Day: Earnings guidance Read more
In this episode, find out about TPG’s plan to sell stake in Fourth Partner Energy, also find out why Uncademy fired 350 employees Business Term of the Day: Windfall tax Read more
In this episode, find out about TPG’s plan to sell stake in Fourth Partner Energy, also find out why Uncademy fired 350 employees Business Term of the Day: Windfall tax Read more
In this episode, find out about Maruti Suzuki’s plans to expand the Manesar plant capacity by 1lkh units, also find out about Tata Motors’ plan to hike prices of passenger vehicles ... Read more
In this episode, find out about Maruti Suzuki’s plans to expand the Manesar plant capacity by 1lkh units, also find out about Tata Motors’ plan to hike prices of passenger vehicles Business Term of the Day: Capex Read more
In this episode, find out about Indorama’ move to join race for PET filmmaker Polyplex, also find out about former Capgemini executive Amit Choudhary’s appointment as Wipro’s new ... Read more
In this episode, find out about Indorama’ move to join race for PET filmmaker Polyplex, also find out about former Capgemini executive Amit Choudhary’s appointment as Wipro’s new Chief Operating Officer Business Term of the Day: Terminal Rate Read more
In this episode, find out about KKR, Temasek’s plans to buy stakes in Manipal Health, also find out Fed’s decision to hike rates by 75 bps Business Term of the Day: Ex-dividend Read more
In this episode, find out about KKR, Temasek’s plans to buy stakes in Manipal Health, also find out Fed’s decision to hike rates by 75 bps Business Term of the Day: Ex-dividend Read more
In this episode, find out about the extension of the timeline for Adani Power’s acquisition of DB Power, also find out LIC’s decision to raise a stake in Capri Global Business Ter ... Read more
In this episode, find out about the extension of the timeline for Adani Power’s acquisition of DB Power, also find out LIC’s decision to raise a stake in Capri Global Business Term of the Day: Leveraged Buyout Read more
