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 Rs 500 crore IPO of Electronics Mart India, also find out about TCS’ $ 2 bn deal from BSNL Business Term of the Day: Contract manufacturing. Read more
In this episode, find out about Rs 500 crore IPO of Electronics Mart India, also find out about TCS’ $ 2 bn deal from BSNL Business Term of the Day: Contract manufacturing. Read more
In this episode, find out about Zee to shut channel to allay CCI concerns over the Sony deal, and also find out about CCI clears Bank of Baroda’s additional stake buy in IndiaFirst ... Read more
In this episode, find out about Zee to shut channel to allay CCI concerns over the Sony deal, and also find out about CCI clears Bank of Baroda’s additional stake buy in IndiaFirst Life Insurance Business Term of the Day: Inflation targeting Read more
In this episode, find out about Hero MotoCorp’s plan to invest $60 m in Zero Motorcyles, also find out about IOC’s plans to float a new subsidiary to do financing activities in Gif ... Read more
In this episode, find out about Hero MotoCorp’s plan to invest $60 m in Zero Motorcyles, also find out about IOC’s plans to float a new subsidiary to do financing activities in Gift City Business Term of the Day: Government borrowing Read more
In this episode, find out about the government’s 2 stage plan to privatize IDBI Bank and also find out about Airtel Payment bank’s plans to set up 1.5 lk micro ATMs Business Term ... Read more
In this episode, find out about the government’s 2 stage plan to privatize IDBI Bank and also find out about Airtel Payment bank’s plans to set up 1.5 lk micro ATMs Business Term of the Day: Gig economy Read more
In this episode, find out about BHEL getting an order from NTPC and how much film exhibition company PVR Cinemas will invest to open 100 new screens in FY23. Read more
In this episode, find out about BHEL getting an order from NTPC and how much film exhibition company PVR Cinemas will invest to open 100 new screens in FY23. Read more
In this episode, find out about the Shares of Tata Steel had a rise of 1.21% (Rs. 104.9) at 12:33 hours at BSE. So far today 52.6 Lac shares of the company were traded at the BSE. ... Read more
In this episode, find out about the Shares of Tata Steel had a rise of 1.21% (Rs. 104.9) at 12:33 hours at BSE. So far today 52.6 Lac shares of the company were traded at the BSE. Business term of the day: PLI Scheme Read more
In this episode, find out about CCI’s approval for the merger of Jio Cinema OTT with Viacom 18 Media, and also find out why the Future unit has canceled plans to sell assets Busin ... Read more
In this episode, find out about CCI’s approval for the merger of Jio Cinema OTT with Viacom 18 Media, and also find out why the Future unit has canceled plans to sell assets Business Term of the Day: First Loan Default Guarantee (FLDG) Read more
In this episode, find out about NCLT’s approval for the merger of Exide Life with HDFC Life, and also find out about the government’s plan to grant DFI status to REC to boost clima ... Read more
In this episode, find out about NCLT’s approval for the merger of Exide Life with HDFC Life, and also find out about the government’s plan to grant DFI status to REC to boost climate funding Business Term of the Day: Development Finance Institution Read more
In this episode, find out about Reliance Retail’s plan to double its borrowing limit to ₹1 lakh crore, and also find out about Fairfax’s move to sell a majority stake in Fairchem O ... Read more
In this episode, find out about Reliance Retail’s plan to double its borrowing limit to ₹1 lakh crore, and also find out about Fairfax’s move to sell a majority stake in Fairchem Organics Business Term of the Day: Mark to Market. Read more
In this episode, find out about the muted listing of Tamilnad Mercantile Bank on the bourses and about Byju’s Rs 4500 crore loss in FY21. Business Term of the Day: Benchmark Prime ... Read more
In this episode, find out about the muted listing of Tamilnad Mercantile Bank on the bourses and about Byju’s Rs 4500 crore loss in FY21. Business Term of the Day: Benchmark Prime Lending Rate Read more
