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 the drop in telecom subscriber base, also find out about Bain Capital picking up 25% stake in IIFL Wealth Business Term of the Day: Revolver Read more
In this episode, find out about the drop in telecom subscriber base, also find out about Bain Capital picking up 25% stake in IIFL Wealth Business Term of the Day: Revolver Read more
In this episode, find out about the Hero MotoCorp’s hike in prices of motorcycles, scooters, also find out about Future Enterprises’ payment default Business Term of the Day: Fisc ... Read more
In this episode, find out about the Hero MotoCorp’s hike in prices of motorcycles, scooters, also find out about Future Enterprises’ payment default Business Term of the Day: Fiscal Policy Read more
In this episode, find out about Aurobindo Pharma’s acquisition of Veritaz’ formulation biz, also find out the latest about Ruchi Soya FPO after SEBI rap Business Term of the Day: ... Read more
In this episode, find out about Aurobindo Pharma’s acquisition of Veritaz’ formulation biz, also find out the latest about Ruchi Soya FPO after SEBI rap Business Term of the Day: Super app Read more
In this episode, find out about Adani Gas’ foray into electric mobility infrastructure, also find out about Emami’s acquisition of Dermicool Business Term of the Day: Employee Sto ... Read more
In this episode, find out about Adani Gas’ foray into electric mobility infrastructure, also find out about Emami’s acquisition of Dermicool Business Term of the Day: Employee Stock Option Plan Read more
In this episode, find out why oil marketing companies have raised petrol prices for the third time in a row, also find out about Reliance Industries’ bid for Sintex Industries Bus ... Read more
In this episode, find out why oil marketing companies have raised petrol prices for the third time in a row, also find out about Reliance Industries’ bid for Sintex Industries Business Term of the Day: Gross Merchandise Value Read more
In this episode, find out about income tax searches at Hero MotoCorp, also find out about HDFC bank’s acquisition of 7.8% stake in ONDC Business Term of the Day: Share buyback Read more
In this episode, find out about income tax searches at Hero MotoCorp, also find out about HDFC bank’s acquisition of 7.8% stake in ONDC Business Term of the Day: Share buyback Read more
In this episode, find out about Infosys’ deal to acquire Germany-based Oddity, also find out about Indiabulls Housing Finance debt raising plans Business Term of the Day: Loan aga ... Read more
In this episode, find out about Infosys’ deal to acquire Germany-based Oddity, also find out about Indiabulls Housing Finance debt raising plans Business Term of the Day: Loan against Securities Read more
In this episode, find out about Wockhardt’s plans to deliver a global vaccine programme, also find out about Suzuki’s plans in Gujarat for manufacturing electric vehicles. Busines ... Read more
In this episode, find out about Wockhardt’s plans to deliver a global vaccine programme, also find out about Suzuki’s plans in Gujarat for manufacturing electric vehicles. Business Term of the Day: NFT Read more
In this episode, find out about the new chiefs at Public Sector banks, also find out about NXT Digital’s merger with Hinduja Leyland Finance Business Term of the Day: Hedge Fund Read more
In this episode, find out about the new chiefs at Public Sector banks, also find out about NXT Digital’s merger with Hinduja Leyland Finance Business Term of the Day: Hedge Fund Read more
In this episode, find out about Zomato’s merger with Blinkt, also find out about Tata Motor’s investment plans in EV Business Term of the Day: Know Your Customer Read more
In this episode, find out about Zomato’s merger with Blinkt, also find out about Tata Motor’s investment plans in EV Business Term of the Day: Know Your Customer Read more
