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 RBI may have put its plans to issue NUE licence on hold, why NTPC is in talks with SAIL to sell its stake in NTPC-SAIL Power Co Ltd Business Term of ... Read more
In this episode, find out why RBI may have put its plans to issue NUE licence on hold, why NTPC is in talks with SAIL to sell its stake in NTPC-SAIL Power Co Ltd Business Term of the Day: New Umbrella Entity Read more
In this episode, find out how HDFC Bank is looking to regain its credit card market share, why CCI has fined Maruti Suzuki Rs 200 crore Business Term of the Day: Cooperative bank ... Read more
In this episode, find out how HDFC Bank is looking to regain its credit card market share, why CCI has fined Maruti Suzuki Rs 200 crore Business Term of the Day: Cooperative banks Read more
In this episode, find out why the government will launch the National Monetisation pipeline, why SEBI has put Adani Wilmer’s IPO on hold Business Term of the Day: Special Drawing ... Read more
In this episode, find out why the government will launch the National Monetisation pipeline, why SEBI has put Adani Wilmer’s IPO on hold Business Term of the Day: Special Drawing Rights Read more
In this episode, find out why Jet Airways employees have rejected the Kalrock-Jalan consortium’s offer, why Airtel has moved to SC. Business Term: NCLT Read more
In this episode, find out why Jet Airways employees have rejected the Kalrock-Jalan consortium’s offer, why Airtel has moved to SC. Business Term: NCLT Read more
In this episode, find out why the Union cabinet cleared the Rs 11000 crore palm oil project, why US markets slid post FOMC minutes Business Term of the Day: Additional Tier 1 bon ... Read more
In this episode, find out why the Union cabinet cleared the Rs 11000 crore palm oil project, why US markets slid post FOMC minutes Business Term of the Day: Additional Tier 1 bond Read more
In this episode, find out why retail sales continue to stay below pre-pandemic levels, why US markets saw the biggest decline Business Term of the Day: National Automobile Scrapp ... Read more
In this episode, find out why retail sales continue to stay below pre-pandemic levels, why US markets saw the biggest decline Business Term of the Day: National Automobile Scrappage Policy Read more
In this episode find out, Adani Group to acquire MBCPNL portfolio from Sadbhav Infra, Why the activity levels are moving back towards pre-pandemic levels Business term: Build oper ... Read more
In this episode find out, Adani Group to acquire MBCPNL portfolio from Sadbhav Infra, Why the activity levels are moving back towards pre-pandemic levels Business term: Build operate transfer (BOT) Read more
In this episode, find out why Ola Electric has come out with new electric scooters, why Indian markets may open lower in today’s trade Business Term of the Day: FAME 2 Read more
In this episode, find out why Ola Electric has come out with new electric scooters, why Indian markets may open lower in today’s trade Business Term of the Day: FAME 2 Read more
In this episode, find out Future Group has filed petition before SC, why Asian markets wavered during Friday trade Business Term of the Day: Operating Profit Read more
In this episode, find out Future Group has filed petition before SC, why Asian markets wavered during Friday trade Business Term of the Day: Operating Profit Read more
In this episode, find out why Yes bank is looking to set up an ARC, why US markets touched record highs Business Term of the Day: Asset Reconstruction Company Read more
In this episode, find out why Yes bank is looking to set up an ARC, why US markets touched record highs Business Term of the Day: Asset Reconstruction Company Read more
