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 Standard Chartered Bank's move to settle the case with SEBI, and also find out why RBI canceled NBFC licenses linked to app-based lenders. Business ... Read more
In this episode, find out about Standard Chartered Bank's move to settle the case with SEBI, and also find out why RBI canceled NBFC licenses linked to app-based lenders. Business Term of the Day: Value Added Tax (VAT) Read more
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In this episode, find out about Marco’s move to acquire 54% stake in True Elements, also find out about NHP’s plan to float largest solar power project in Odisha Business Term of ... Read more
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In this episode, find out why Equitas founder PN Vasudevan resigned, also find out about Indonesia’s decision to lift ban on edible oil exports Business Term of the Day: GST Read more
In this episode, find out why Equitas founder PN Vasudevan resigned, also find out about Indonesia’s decision to lift ban on edible oil exports Business Term of the Day: GST Read more
In this episode, find out why investors are looking at a sharper rate hike from RBI, also find out about the new CEO at Indigo.
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In this episode, find out about the government’s plans to reduce the quantum of stake sale in BPCL, and also find out about RBI’s decision to reject 6 applications for banking lice ... Read more
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In this episode, find out about Jack Ma exiting Paytm E-commerce, also find out about Byju’s looking at US acquisition for $2 bn Business Term of the Day: Growth stocks Read more
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In this episode, find out why Tech Mahindra thinks positive momentum will continue in FY23, also find out about Maruti Suzuki’s plan to invest Rs 11,000 crore in a new plant in Har ... Read more
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In this episode, find out about banks hiking lending rates post RBI rate hike, also find out why Bitcoin dropped the most in a month.
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In this episode, find out about banks hiking lending rates post RBI rate hike, also find out why Bitcoin dropped the most in a month.
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