In this episode, find out about PNB’s decision to subscribe to rights issue of PNB Housing, also find out about Reliance Industries and BP’s plan to draw up a compensation plan for dealers
Business Term of the Day: Nominal GDP Reliance Industries Ltd (RIL) and BP Plc, which operate more than 1,400 fuel retail outlets under the Jio-BP brand name, are drawing up a compensation plan for dealers to stave off closure, as per a news report. In March, RIL nearly halved fuel supply to its dealers due to losses of ₹10-12 per litre daily on the sale of diesel. It has not resumed fuel supplies fully. The engineering & infrastructure behemoth reported 10% year-on-year rise in profit to ₹3,621 crore for the March quarter, with revenue also up 10% at ₹52,851 crore. EBITDA increased 2.1% to ₹6,520.5 crore and order inflows grew 46 percent on year to ₹73,941 crore in during the quarter. Has said inflation and a chip shortage are the biggest challenges facing Tata Motors. The company will nevertheless meet its profit and cashflow targets for the year. Capex is likely to increase to up to ₹6,000 crore this fiscal. Tata Motors saw its consolidated net loss narrow to ₹992.05 crore in March quarter from ₹7,585.34 crore a year ago. Revenue from operations fell to ₹78,439.06 crore from ₹88,627.90 crore in the year-ago period. Punjab National Bank has said it would subscribe to the rights issue of its associate mortgage lender PNB Housing Finance, which has renewed its capital raising plan by selling equity shares to existing shareholders. Zomato: Online food-delivery and restaurant booking company Zomato’s 10-minute delivery plan is being re-evaluated as the platform hasn’t been able to meet the time target for all orders during its pilot in Gurgaon, as per a media report. Adani Green Energy: Has approved allotment of two crore equity shares for ₹3,850 crore to Green Energy Investment Holding RSC Ltd. Adani Green will issue 2,00,18,198 equity shares of face value ₹10 each at the rate of ₹1,923.25 per share for ₹38,49,99,99,303.50 to Green Energy Investment Holding. (REMOVE) The Mumbai bench of NCLT has granted more time to Future Retail Ltd. (FRL) to file its response to a Bank of India petition seeking to initiate insolvency resolution proceedings against the company for defaulting on loans. Petronet LNG: Has begun talks with Qatar to renew a multi-year gas deal despite market “turbulence”, making new long-term contracts difficult as sanctions on Russian fuel have squeezed an already tightly supplied market. India’s top gas importer has till end-2023 to renew its long-term liquefied natural gas (LNG) deal with Qatar Gas to beyond 2028. Moving on to markets Stocks and U.S. equity futures rose Friday amid a bout of calm in global markets after Federal Reserve Chair Jerome Powell again pushed back against speculation of more aggressive interest-rate hikes. After cracking over 2 per cent each the previous day, the Sensex and Nifty are likely to open higher on Friday tracking gains in US equity futures and firm Asian markets. At 8:10 am, the SGX Nifty futures were quoting at 15,980 levels, indicating a likely gap-up opening of over 150 points on the Nifty. On Thursday, domestic retail inflation for April came at a 8-year high of 7.8 per cent, paving the way for more policy rate hikes by the central bank even as factory output growth remained lacklustre at 1.9 per cent in March. Business Term of the day Nominal GDP is an assessment of economic production in an economy but includes the current prices of goods and services in its calculation. GDP is typically measured as the monetary value of goods and services produced.
In this episode, find out about fundraising of TV Motors’ finance arm from Premji Invest, also about Sequoia Capital’s stake sale in Go Fashion Business Term of the Day: Takeout ... Read more
In this episode, find out about fundraising of TV Motors’ finance arm from Premji Invest, also about Sequoia Capital’s stake sale in Go Fashion Business Term of the Day: Takeout financing Read more
In this episode, find out about HDFC bank’s new home loan business head, also why Delhivery moved NCLT against Go First. Business Term of the Day: Call money rate Read more
In this episode, find out about HDFC bank’s new home loan business head, also why Delhivery moved NCLT against Go First. Business Term of the Day: Call money rate Read more
In this episode, find out about LIC raising stake in Tech Mahindra to 8.88%, also about Hero MotoCorp’s plan to expand its electric range Business Term of the Day: Tender offer Read more
In this episode, find out about LIC raising stake in Tech Mahindra to 8.88%, also about Hero MotoCorp’s plan to expand its electric range Business Term of the Day: Tender offer Read more
In this episode, find out about the legal notice issued by Reliance Home Finance debenture holders against Bank of Baroda, also Byju’s default on its loan Business Term of the Da ... Read more
In this episode, find out about the legal notice issued by Reliance Home Finance debenture holders against Bank of Baroda, also Byju’s default on its loan Business Term of the Day: Term loan Read more
In this episode, find out about Bank of Baroda’s plan to auction a part stake in NSE, also find about shareholders' rejection of Baba Kalyani’s reappointment for CEO Business Ter ... Read more
In this episode, find out about Bank of Baroda’s plan to auction a part stake in NSE, also find about shareholders' rejection of Baba Kalyani’s reappointment for CEO Business Term of the Day: Board resolution Read more
In this episode, find out about Bajaj Finserv’s Rs 5000 cr investment in Pune, also find out why Her0 Motocorp has increased price of its EV Business Term of the Day: Corporate ... Read more
In this episode, find out about Bajaj Finserv’s Rs 5000 cr investment in Pune, also find out why Her0 Motocorp has increased price of its EV Business Term of the Day: Corporate Governance Read more
In this episode, find out about Aditay Birla Capital’s plans to raise Rs 1250 crore through preferential issue of shares, also find out Dish TV board’s decision to reject minority ... Read more
In this episode, find out about Aditay Birla Capital’s plans to raise Rs 1250 crore through preferential issue of shares, also find out Dish TV board’s decision to reject minority shareholders’ plea to reconstitute the board Business Term of the Day: Annuity Read more
In this episode, find out about the new CEO of TCS taking charge, also find out Adani group’s plans to raise $3.5 bn through share sale to institutional investors Business Term o ... Read more
In this episode, find out about the new CEO of TCS taking charge, also find out Adani group’s plans to raise $3.5 bn through share sale to institutional investors Business Term of the Day: Covenant Read more
In this episode, find out about slowdown in unemployment rate in urban areas, also find out about HCL Tech suing Atos. Business Term of the Day: Vande Bharat Express Read more
In this episode, find out about slowdown in unemployment rate in urban areas, also find out about HCL Tech suing Atos. Business Term of the Day: Vande Bharat Express Read more
In this episode, find out about Reliance Consumer Products’ entry into snacking business and Maruti Suzuki India expects production loss to continue in the first quarter.. Busines ... Read more
In this episode, find out about Reliance Consumer Products’ entry into snacking business and Maruti Suzuki India expects production loss to continue in the first quarter.. Business Term of the Day: Subsidy Read more
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