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 Mahindra Holidays & Resorts’ plans to increase stake in Rocksport Pvt Ltd, also find out Ultra Tech’s plans to invest in UAE based RAK Cement B ... Read more
In this episode, find out about Mahindra Holidays & Resorts’ plans to increase stake in Rocksport Pvt Ltd, also find out Ultra Tech’s plans to invest in UAE based RAK Cement Business Term of the Day: Restricted Stock Units Read more
In this episode, find out about Holcim Group’s plans to exit the India cement business, also find out why auto output fell to levels seen 5 years ago Business Term of the Day: Do ... Read more
In this episode, find out about Holcim Group’s plans to exit the India cement business, also find out why auto output fell to levels seen 5 years ago Business Term of the Day: Downtrading Read more
In this episode, find out about Fino Payments Bank’s move to buy minority stake in PaySprint, also find out why Indian markets will open on a flat note Business Term of the Day: ... Read more
In this episode, find out about Fino Payments Bank’s move to buy minority stake in PaySprint, also find out why Indian markets will open on a flat note Business Term of the Day: Valuation Read more
In this episode, find out about TRAI’s decision to cut base price by 36%, also find out Zee Entertainment’s plans for its movie production business this year Business Term of the ... Read more
In this episode, find out about TRAI’s decision to cut base price by 36%, also find out Zee Entertainment’s plans for its movie production business this year Business Term of the Day: Infrastructure Investment Trust Read more
In this episode, find out about Godrej Group’s plan to launch its NBFC business, also find out about Vodafone Idea’s fund raising talk with Apollo Global For $1 bn Business Term o ... Read more
In this episode, find out about Godrej Group’s plan to launch its NBFC business, also find out about Vodafone Idea’s fund raising talk with Apollo Global For $1 bn Business Term of the Day: Fixed income Read more
In this episode, find out why M&M has terminated its decision to sell Ssang Yong Motor, also find out why Flipkart has raised its internal IPO valuation to $60-70 bn. Business ... Read more
In this episode, find out why M&M has terminated its decision to sell Ssang Yong Motor, also find out why Flipkart has raised its internal IPO valuation to $60-70 bn. Business Term of the Day: Government borrowing Read more
In this episode, find out about Bandhan bank’s bid for IDFC AMC, also find out why Indian markets are likely to trade lower Business Term of the Day: Revenue Read more
In this episode, find out about Bandhan bank’s bid for IDFC AMC, also find out why Indian markets are likely to trade lower Business Term of the Day: Revenue Read more
In this episode, find out why CCI has ordered a probe into Zomato & Swiggy, also find out about Carlyle group selling stake in SBI Cards Business Term of the Day: Merger Read more
In this episode, find out why CCI has ordered a probe into Zomato & Swiggy, also find out about Carlyle group selling stake in SBI Cards Business Term of the Day: Merger Read more
In this episode, find out why lenders of Future Group are looking to auction assets of the retail venture, also find out about HDFC bank’s Q4 business numbers Business Term of the ... Read more
In this episode, find out why lenders of Future Group are looking to auction assets of the retail venture, also find out about HDFC bank’s Q4 business numbers Business Term of the Day: Real interest rate 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 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
