Invesco Developing Market Funds, Zee’s largest shareholder has decided to sell 7.8% of the firm through a block deal on Thursday. After the sale, Invesco will be left with about 11% of Zee. Invesco will sell 74 million shares worth ₹2,200 crore via block deals in the range of ₹270-290 per share. Kotak Mahindra Capital will manage the stake sale.
A consortium of the bank’s parent Bandhan Financial Holdings, private equity firm ChrysCapital and Singapore’s sovereign fund GIC will acquire IDFC Asset Management Co. Ltd for ₹4,500 crore, in the biggest buyout yet in India’s ₹38 trillion asset management industry.
DCB Bank: The bank reappointed Murali M. Natrajan as the Managing Director & CEO, for further period of two years effective April 29, 2022.
Titan: The company’s jewellery revenue fell 4% year-on-year in the March quarter, but watches and wearables revenue rose 12% during this period. Its eyecare revenue was up 5%. The company net added 105 stores in January-March.
Maruti Suzuki India: The carmaker has announced to voluntarily recall 19,731 units of its EECO model. The recall is being undertaken to inspect and rectify “incorrect marking of wheel rim size”, if any, on the wheel in some of the vehicles. This issue has no implication on performance, safety or environment, it said.
HDFC Bank: The lender proposes to raise funds by issuing perpetual debt instruments (part of additional Tier I capital), Tier II capital bonds and longTerm bonds (Financing of Infrastructure and Affordable Housing) up to total amount of ₹50,000 crore over the period of next 12 months through private placement mode. It has informed BSE that the meeting of its Board of Directors is scheduled on 16 April.
Motherson Sumi Systems: The auto components major has successfully completed the acquisition of a majority stake in Bengaluru-based CIM Tools Private Ltd. In October last year, MSSL had announced acquiring a 55% stake in CIM Tools, a leading supplier in the aerospace supply chain.
Union Bank of India: The public sector lender will invest ₹1,000 crore in upgrading its information technology (IT) platforms in the current financial year, as it looks to generate revenues from digital channels and save costs, executive director Nitesh Ranjan said on Wednesday.
Moving on to markets
Indian indices are likely to start Thursday’s session on a negative note as indicated by SGX Nifty futures that were around 100 points lower at 7:50 am from the previous close.
The markets may continue their losing streak tracking weak global cues after hawkish FOMC meeting minutes read that the US Federal Reserve is likely to reduce its massive bond holdings at a maximum pace of $95 billion a month.
The FOMC is expected to approve the balance-sheet reduction at its next gathering May 3-4.
Business term of the day
Revenue is the value of all sales of goods and services recognized by a company in a period. Revenue (also referred to as Sales or Income) forms the beginning of a company’s income statement. The profit or and is often considered the “Top Line” of a business. Expenses are deducted from a company’s revenue to arrive at its Profit or Net Income.
In this episode, find out why Religare Enterprises is looking to raise Rs 570 cr from investors, why US markets had a choppy session Business Term of the Day: Delisting Read more
In this episode, find out why Religare Enterprises is looking to raise Rs 570 cr from investors, why US markets had a choppy session Business Term of the Day: Delisting Read more
In this episode, find out why SEBI barred Franklin Templeton AMC from launching debt schemes, why Indian markets are set to open higher after a steady Asia opening Business Term o ... Read more
In this episode, find out why SEBI barred Franklin Templeton AMC from launching debt schemes, why Indian markets are set to open higher after a steady Asia opening Business Term of the Day: Apple’s WWDC Read more
In this episode, find out why G7 countries have reached a landmark global tax deal, why Bajaj Finance is expecting higher bad loans in the first half of FY22 Business Term of th ... Read more
In this episode, find out why G7 countries have reached a landmark global tax deal, why Bajaj Finance is expecting higher bad loans in the first half of FY22 Business Term of the Day: Gaps Read more
In this episode, find out why Softank is in talks with Flipkart once again, why traders are watching out for China opening Business Term of the Day: Monetary policy Read more
In this episode, find out why Softank is in talks with Flipkart once again, why traders are watching out for China opening Business Term of the Day: Monetary policy Read more
In this episode, find out why Supreme court said that india’s vaccine policy is irrational, why meme stocks rallied in US trade Business Term of the Day: Meme stocks Read more
In this episode, find out why Supreme court said that india’s vaccine policy is irrational, why meme stocks rallied in US trade Business Term of the Day: Meme stocks Read more
In this episode, find out why the major automobile manufacturers reported a decline in May sales, why PMI data fell to 10 month low Business Term of the Day: Reflation Read more
In this episode, find out why the major automobile manufacturers reported a decline in May sales, why PMI data fell to 10 month low Business Term of the Day: Reflation Read more
In this episode, find out why the Supreme Court has asked the centre to revise its vaccine policy, why Aditya Puri is interested in PNB housing Finance Business Term of the Day: ... Read more
In this episode, find out why the Supreme Court has asked the centre to revise its vaccine policy, why Aditya Puri is interested in PNB housing Finance Business Term of the Day: Revenue deficit Read more
In this episode, find out why the government has extended the ECLGS to airlines & hospitals, why Oil edged higher on Asia trading Business Term of the Day: Gross Domestic Pro ... Read more
In this episode, find out why the government has extended the ECLGS to airlines & hospitals, why Oil edged higher on Asia trading Business Term of the Day: Gross Domestic Product Read more
In this episode, find out why Sun Pharma & Eicher Motors Q4 earning disappointed, why US markets rallied on Thursday Business Term of the Day: Valuation Read more
In this episode, find out why Sun Pharma & Eicher Motors Q4 earning disappointed, why US markets rallied on Thursday Business Term of the Day: Valuation Read more
In this episode, find out why Uday Kotak believes that government should provide fiscal stimulus, why Amazon is looking to MGM for $8.5 bn Business Term of the Day: Follow on Pub ... Read more
In this episode, find out why Uday Kotak believes that government should provide fiscal stimulus, why Amazon is looking to MGM for $8.5 bn Business Term of the Day: Follow on Public offer Read more
