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 about L&T's plans to merge Mindtree and L&T Toubro Infotech, also find out about SBI’s move to hike the lending rate after 3 years Business Term ... Read more
In this episode, find out about L&T's plans to merge Mindtree and L&T Toubro Infotech, also find out about SBI’s move to hike the lending rate after 3 years Business Term of the Day: Marginal Cost of funds based lending rate (MCLR) Read more
In this episode, find out about Mahindra Holidays & Resorts’ plans to increase stake in Rocksport Pvt Ltd, also find out Ultra Tech’s plans to invest in UAE based RAK Cement B ... Read more
In this episode, find out about Mahindra Holidays & Resorts’ plans to increase stake in Rocksport Pvt Ltd, also find out Ultra Tech’s plans to invest in UAE based RAK Cement Business Term of the Day: Restricted Stock Units Read more
In this episode, find out about Holcim Group’s plans to exit the India cement business, also find out why auto output fell to levels seen 5 years ago Business Term of the Day: Do ... Read more
In this episode, find out about Holcim Group’s plans to exit the India cement business, also find out why auto output fell to levels seen 5 years ago Business Term of the Day: Downtrading Read more
In this episode, find out about Fino Payments Bank’s move to buy minority stake in PaySprint, also find out why Indian markets will open on a flat note Business Term of the Day: ... Read more
In this episode, find out about Fino Payments Bank’s move to buy minority stake in PaySprint, also find out why Indian markets will open on a flat note Business Term of the Day: Valuation Read more
In this episode, find out about TRAI’s decision to cut base price by 36%, also find out Zee Entertainment’s plans for its movie production business this year Business Term of the ... Read more
In this episode, find out about TRAI’s decision to cut base price by 36%, also find out Zee Entertainment’s plans for its movie production business this year Business Term of the Day: Infrastructure Investment Trust Read more
In this episode, find out about Godrej Group’s plan to launch its NBFC business, also find out about Vodafone Idea’s fund raising talk with Apollo Global For $1 bn Business Term o ... Read more
In this episode, find out about Godrej Group’s plan to launch its NBFC business, also find out about Vodafone Idea’s fund raising talk with Apollo Global For $1 bn Business Term of the Day: Fixed income Read more
In this episode, find out why M&M has terminated its decision to sell Ssang Yong Motor, also find out why Flipkart has raised its internal IPO valuation to $60-70 bn. Business ... Read more
In this episode, find out why M&M has terminated its decision to sell Ssang Yong Motor, also find out why Flipkart has raised its internal IPO valuation to $60-70 bn. Business Term of the Day: Government borrowing Read more
In this episode, find out about Bandhan bank’s bid for IDFC AMC, also find out why Indian markets are likely to trade lower Business Term of the Day: Revenue Read more
In this episode, find out about Bandhan bank’s bid for IDFC AMC, also find out why Indian markets are likely to trade lower Business Term of the Day: Revenue Read more
In this episode, find out why CCI has ordered a probe into Zomato & Swiggy, also find out about Carlyle group selling stake in SBI Cards Business Term of the Day: Merger Read more
In this episode, find out why CCI has ordered a probe into Zomato & Swiggy, also find out about Carlyle group selling stake in SBI Cards Business Term of the Day: Merger Read more
In this episode, find out why lenders of Future Group are looking to auction assets of the retail venture, also find out about HDFC bank’s Q4 business numbers Business Term of the ... Read more
In this episode, find out why lenders of Future Group are looking to auction assets of the retail venture, also find out about HDFC bank’s Q4 business numbers Business Term of the Day: Real interest rate Read more