India’s external account – both the current account and the Balance of Payments – deteriorated during the December quarter to a surge in Crude oil prices and record pull out by foreign institutional investors. The current account- sum of India’s exports and imports of goods and services- ended in a deficit of deficit at $ 23.0 billion (2.7 per cent of GDP) touched a nine- year high. Overall the balance of payments ended in a modest surplus of $465 million compared to a surplus of $32.5 billion in the same period a year ago.
Future Retail: Debt-ridden Future Retail Ltd’s CEO Sadashiv Nayak has resigned from the post seven months after his appointment, according to a filing. Future Group CEO Kishore Biyani has been re-appointed as executive chairman of the company for three years, a regulatory filing said on Thursday.
Vodafone Idea (Vi) on Thursday said its board has approved raising of Rs 4,500 crore by allotting 3,38,34,58,645 equity shares to three promoter or promoter group entities at Rs 13.30 a piece.
Shapoorji Pallonji and Co (SPCIL) has exited a one-time restructuring scheme by paying ₹12,450 crore to all its leaders, according to a statement issued by the company on Wednesday. This includes Mistry family infusing over ₹5,100 crore into the company in the past one year. marquee monetization worth ₹3,750 crore from two of its assets, including Sterling Wilson Renewable Energy Ltd and Eureka Forbes Ltd.
Mining firm Hindustan Zinc Limited (HZL) on Thursday said it will invest ₹350 crore to develop up to 200 megawatt (MW) renewable energy capacity through a special purpose vehicle.
The Income Tax Department has found alleged illegal business expenses of over ₹800 crore, ₹60 crore “unaccounted” cash used to purchase land in Delhi and role of some shell companies after it raided Hero Motocorp and two other groups, officials said on Thursday.
Moving on to markets
The markets are likely to start Friday’s session on a negative note amid globally weak sentiment as US and European markets logged in significant losses overnight.
The SGX Nifty futures were quoting at 17,430 levels at 7:55 am, hinting at a gap-down start of over 100 points on the Nifty50.
Business Term of the day
Debt restructuring is a process used by companies, individuals, and even countries to avoid the risk of defaulting on their existing debts, such as by negotiating lower interest rates. Debt restructuring provides a less expensive alternative to bankruptcy when a debtor is in financial turmoil, and it can work to the benefit of both borrower and lender.
In this episode, find out why PFC, REC are looking to lend Rs 1.2 trillion to discoms, also find out about Government’s plant to reduce export duty on steel products Business Term ... Read more
In this episode, find out why PFC, REC are looking to lend Rs 1.2 trillion to discoms, also find out about Government’s plant to reduce export duty on steel products Business Term of the Day: Export duty Read more
In this episode, find out about Bharti Airtel signing 5G network agreements with Ericsson, Nokia, and Samsung, and also find out about ARCIL’s challenger bid for Yes Bank’s NPA por ... Read more
In this episode, find out about Bharti Airtel signing 5G network agreements with Ericsson, Nokia, and Samsung, and also find out about ARCIL’s challenger bid for Yes Bank’s NPA portfolio. Business Term of the Day: Unemployment Rate Read more
In this episode, find out about Zomato shareholder looking to raise $420 m via block deal, also find out about ITC exiting lifestyle retailing business Business Term of the Day: ... Read more
In this episode, find out about Zomato shareholder looking to raise $420 m via block deal, also find out about ITC exiting lifestyle retailing business Business Term of the Day: Windfall Tax Read more
In this episode, find out about Zomato halving loss of Rs 186 crore, also find out about GST collections rising to Rs 1.49 trillion in July Business Term of the Day: Credit ratin ... Read more
In this episode, find out about Zomato halving loss of Rs 186 crore, also find out about GST collections rising to Rs 1.49 trillion in July Business Term of the Day: Credit rating Read more
In this episode, find out HDFC raising lending rate by 25 bps, and also find out why Ashok Leyland expects the CV industry to grow at a fast pace in the coming quarters Business T ... Read more
In this episode, find out HDFC raising lending rate by 25 bps, and also find out why Ashok Leyland expects the CV industry to grow at a fast pace in the coming quarters Business Term of the Day: Statutory Liquidity Ratio Read more
In this episode, find out why PNB has reported a 70% drop in net profit in Q1FY23, and also find out about IOC’s plan to invest around Rs 564 cr in various projects in West Bengal ... Read more
In this episode, find out why PNB has reported a 70% drop in net profit in Q1FY23, and also find out about IOC’s plan to invest around Rs 564 cr in various projects in West Bengal Business Term of the Day: Call Money Read more
In this episode, find out about Tata Steel’s pact with a drone-based start-up for mining solutions, and also find out about Government’s revival package for BSNL Business Term of ... Read more
In this episode, find out about Tata Steel’s pact with a drone-based start-up for mining solutions, and also find out about Government’s revival package for BSNL Business Term of the Day: Profit Margin Read more
In this episode, find out about ONGC signing MoU with Greenko, and also find out about Wipro’s partnership with Nokia Business Term of the Day: Balance of payment Read more
In this episode, find out about ONGC signing MoU with Greenko, and also find out about Wipro’s partnership with Nokia Business Term of the Day: Balance of payment Read more
In this episode, find out about Bajaj Finerv’s proposal for a stock split, also find out about market action ahead of US Federal Reserve meet. Business Term of the Day: Recession Read more
In this episode, find out about Bajaj Finerv’s proposal for a stock split, also find out about market action ahead of US Federal Reserve meet. Business Term of the Day: Recession Read more
In this episode, find out about Infosys raising revenue guidance for FY23, also find out Vodaafone Idea’s CFO Akshay Moondra to take charge as new CEO. Business Term of the Day: ... Read more
In this episode, find out about Infosys raising revenue guidance for FY23, also find out Vodaafone Idea’s CFO Akshay Moondra to take charge as new CEO. Business Term of the Day: Gross refining margin Read more