In this episode, find out about equity raising plans of Indian Hotels and Vodafone plc, also find out about who is biddig for Actis Llp’s Indian renewable energy platform Sprng Energy
Business Term of the Day: Monetary policy committee In this episode, find out about equity raising plans of Indian Hotels and Vodafone plc, also find out about who is biddig for Actis Llp’s Indian renewable energy platform Sprng Energy Business Term of the Day: Monetary policy committee RBI to release minutes of the monetary policy committee meeting. India could emerge as an energy superpower with clean energy exports set to soar to $500 billion over the next 20 years, Reliance Industries Ltd (RIL) chairman Mukesh Ambani said on Wednesday. I foresee at least 20-30 new Indian companies in the energy and tech space which will grow as big as Reliance, if not bigger, in the next 10-20 years,” Tata Consultancy Services: Has made changes to its leadership roles in North America. As part of the changes, Suresh Muthuswami has been elevated to the role of chairman, North America. This is one of the most significant leadership changes the company has announced for the region. Vodafone Idea: Parent Vodafone Plc is in talks to sell up to a 5% stake in tower firm Indus Towers to Bharti Airtel, and use the proceeds to plough into Vodafone Idea Ltd, as the self-mandated March deadline for the loss-making Indian telco to raise funds from external investors draws near. Shell Plc and Adani Group are likely to be front-runners to acquire Actis Llp’s Indian renewable energy platform Sprng Energy for around $1 billion in equity. The binding bids for Sprng Energy are to be placed by 15 March, in what would be one of the largest deals in India’s green energy sector. Seventeen firms had submitted non-binding bids in the first stage of the sale process, which Bank of America is managing. Spandana Sphoorty: The microfinance lender said it would like to complete its proposed ₹300-crore fundraising by March and that its promoter Kedaara Capital and a significant long-term shareholder Valiant would subscribe to the shares in the preferential allotment at ₹459 per share, which is at a 20.5% premium to its Wednesday’s closing price. Indian Hotels Company: Parent Tata Sons plans to dilute its stake by up to 8% in the hotel major, as the hospitality giant is looking to raise around ₹2,000 crore via qualified institutional placement (QIP) in the next two weeks. Tata Sons holds a 41% stake in IHCL, the operator of the Taj group of hotels. IHCL will use the proceeds to reduce its consolidated debt worth ₹1,905 crore. Moving on to markets The key benchmark indices are expected to start Thursday’s session with deep cuts after a global sell-off in the US overnight. SGX Nifty futures were quoting 16,840 levels, indicating a gap-down of around 280 points. Oil prices, however, steadied on Wednesday amid reports that the US is unlikely to impose sanctions on Russian oil supply. Brent closed unchanged at $96.84 a barrel, while WTI crude inched higher to $92.10 a barrel. Major markets in Asia were down considerably this morning. Hong Kong’s Hang Seng and Malaysia’s Kospi plunged 1.7 per cent each. Japan’s Nikkei, Straits Times and Taiwan were down around 1.2 per cent each. Business Term of the dayMonetary policy committee – he Monetary Policy Committee is responsible for fixing the benchmark interest rate in India. The meetings of the Monetary Policy Committee are held at least 4 times a year (specifically, at least once a QUARTER) and it publishes its decisions after each such meeting. The committee comprises six members – three officials of the Reserve Bank of India and three external members nominated by the Government of India. The Governor of Reserve Bank of India is the chairperson ex officio of the committee. Decisions are taken by majority with the Governor having the casting vote in case of a tie. The current mandate of the committee is to maintain inflation in the range of 2 to 6%
In this episode, find out why RBI has extended the deadline for renewal of the bank locker agreement, also find out about why Zomato has scrapped the 10-minute delivery Business T ... Read more
In this episode, find out why RBI has extended the deadline for renewal of the bank locker agreement, also find out about why Zomato has scrapped the 10-minute delivery Business Term of the Day: Tax credit Read more
In this episode, find out about the resignation of Spencer retail’s MD & CEO, also find out about ICICI Bank’s Q3 results Business Term of the Day: Capital Budget Read more
In this episode, find out about the resignation of Spencer retail’s MD & CEO, also find out about ICICI Bank’s Q3 results Business Term of the Day: Capital Budget Read more
In this episode, find out about the changes made to the IBC by Ministry of Corporate Affair’, also find out about Adani Enterprises’ Follow on public offer Business Term of the Da ... Read more
In this episode, find out about the changes made to the IBC by Ministry of Corporate Affair’, also find out about Adani Enterprises’ Follow on public offer Business Term of the Day: Public private partnership Read more
In this episode, find out about Rattan India Enterprises’ plan for its EV venture Revolt Motors, also find out why the US FDA pull up Sun Pharma Business Term of the Day: e-gaming ... Read more
In this episode, find out about Rattan India Enterprises’ plan for its EV venture Revolt Motors, also find out why the US FDA pull up Sun Pharma Business Term of the Day: e-gaming policy Read more
In this episode, find out why Infosys reported a 13.4% YoY rise in profit in Q3, also find out about Alibaba selling a stake in One97 Communication Business Term of the Day: Telec ... Read more
In this episode, find out why Infosys reported a 13.4% YoY rise in profit in Q3, also find out about Alibaba selling a stake in One97 Communication Business Term of the Day: Telecom spectrum Read more
In this episode, find out about HUL’s 51% acquisition of Zywie Ventures, also find out about Wipro’s leadership changes Business Term of the Day: Financial inclusion Read more
In this episode, find out about HUL’s 51% acquisition of Zywie Ventures, also find out about Wipro’s leadership changes Business Term of the Day: Financial inclusion Read more
In this episode, find out about APSEZ’s acquisition of Haifa Port Company, also find out about Axis Bank’s revised agreement with Max Financial for the insurance venture Business ... Read more
In this episode, find out about APSEZ’s acquisition of Haifa Port Company, also find out about Axis Bank’s revised agreement with Max Financial for the insurance venture Business Term of the Day: Spinoff Read more
In this episode, find out about the progress of IDBI bank privatisation, also find out why TCS reported lower expected earnings Business Term of the Day: ChatGPT Read more
In this episode, find out about the progress of IDBI bank privatisation, also find out why TCS reported lower expected earnings Business Term of the Day: ChatGPT Read more
In this episode, find out about SEBI’s decision to allow govt holding in IDBI Bank to be reclassified as public after divestment, also find out about L&T Realty Developers’ pla ... Read more
In this episode, find out about SEBI’s decision to allow govt holding in IDBI Bank to be reclassified as public after divestment, also find out about L&T Realty Developers’ plan to sell a stake in Think Tower Developers Business Term of the Day: Plant Load Factor Read more
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