A firm led by James Murdoch and a former head of Walt Disney India will invest 135 billion rupees in a venture backed by billionaire Mukesh Ambani. Bodhi Tree Systems will lead a group of investors to pour the cash into Viacom18 — a joint venture between Ambani and Viacom. Reliance Projects will invest an additional Rs 1,645 crore. The partnership comes as Reliance is preparing to bid for broadcast rights of the Indian Premier League,. It will have to battle Amazon.com Inc., The Walt Disney Co., Sony Group Corp. and homegrown Zee Entertainment Enterprises Ltd. for the win.
FMCG major Hindustan Unilever Ltd on Wednesday reported a 5.34 per cent increase in its consolidated net profit to ₹2,307 crore for the fourth quarter ended in March 2022 despite flat volume growth due to unprecedented inflation. Moreover, HUL has now become a ₹50,000 crore turnover company and also the first pure FMCG firm to achieve this milestone. The company now has 16 brands with a turnover of ₹1,000 crore each.Bajaj Auto: The firm on Wednesday reported a 2 per cent decline in consolidated net profit at ₹1,526 crore in the fourth quarter ended March 2022, with sales in both domestic and export markets hit by weak demand and semiconductor shortage. The Pune-based company had reported a consolidated net profit of ₹1,551 crore in the January-March quarter of 2020-21.
ONGC: State-owned Oil and Natural Gas Corporation (ONGC) on Wednesday said it has signed a pact with Norwegian energy giant Equinor ASA for collaboration in oil and gas exploration and production as well as clean energy projects.
Ravi Parthasarathy, who pioneered private investment in core prjects thru failed infrastructure leasing and financial services passwed away on Wednesday following prolonged illness. The IL&FS defalt crisis had broken out months after he stepped down, with first cracks appearing in July 2018.
Moving on to markets
The markets are likely to have a flat opening on Thursday amid likely volatility on account of the monthly F&O expiry. At 8:00 am, the SGX Nifty futures were quoting at 17,076 levels, unchanged from their previous close.
Investors will react to corporate earnings of Nifty50 companies HUL and Bajaj Auto, in addition to tracking geo-political developments.Business term of the day
The term poison pill refers to a defense strategy used by a target firm to prevent or discourage a potential hostile takeover by an acquiring company. Potential targets use this tactic in order to make them look less attractive to the potential acquirer. Poison pills allow existing shareholders the right to purchase additional shares at a discount, effectively diluting the ownership interest of a new, hostile party.
In this episode, find out about Shapoorji pallonji’s exit from debt restructuring, also find out about income tax raids at Hero Motocorp. Business Term of the Day: Debt restructur ... Read more
In this episode, find out about Shapoorji pallonji’s exit from debt restructuring, also find out about income tax raids at Hero Motocorp. Business Term of the Day: Debt restructuring Read more
In this episode, find out about the drop in telecom subscriber base, also find out about Bain Capital picking up 25% stake in IIFL Wealth Business Term of the Day: Revolver Read more
In this episode, find out about the drop in telecom subscriber base, also find out about Bain Capital picking up 25% stake in IIFL Wealth Business Term of the Day: Revolver Read more
In this episode, find out about the Hero MotoCorp’s hike in prices of motorcycles, scooters, also find out about Future Enterprises’ payment default Business Term of the Day: Fisc ... Read more
In this episode, find out about the Hero MotoCorp’s hike in prices of motorcycles, scooters, also find out about Future Enterprises’ payment default Business Term of the Day: Fiscal Policy Read more
In this episode, find out about Aurobindo Pharma’s acquisition of Veritaz’ formulation biz, also find out the latest about Ruchi Soya FPO after SEBI rap Business Term of the Day: ... Read more
In this episode, find out about Aurobindo Pharma’s acquisition of Veritaz’ formulation biz, also find out the latest about Ruchi Soya FPO after SEBI rap Business Term of the Day: Super app 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 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
In this episode, find out why oil marketing companies have raised petrol prices for the third time in a row, also find out about Reliance Industries’ bid for Sintex Industries Bus ... Read more
In this episode, find out why oil marketing companies have raised petrol prices for the third time in a row, also find out about Reliance Industries’ bid for Sintex Industries Business Term of the Day: Gross Merchandise Value Read more
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 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
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. Business Term of the Day: NFT 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 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