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 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
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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
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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
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In this episode, find out why Indian markets are likely to open lower in trade today, also find out about Reliance New Energy’s plan to acquire Lithium Werks
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In this episode, find out why Indian markets are likely to open lower in trade today, also find out about Reliance New Energy’s plan to acquire Lithium Werks
Business Term of the Day: Wholesale inflation Read more
In this episode, find out why LIC is looking at IPO in April, also find out about Brookfield’s plans to buy a substantial stake in Mahindra Susten Business Term of the Day: Refere ... Read more
In this episode, find out why LIC is looking at IPO in April, also find out about Brookfield’s plans to buy a substantial stake in Mahindra Susten Business Term of the Day: Reference exchange rate Read more
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