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 why RBI Governor warned Indians against private cryptocurrencies, also find out why US markets are getting ready for a rate hike soon. Business Term of t ... Read more
In this episode, find out why RBI Governor warned Indians against private cryptocurrencies, also find out why US markets are getting ready for a rate hike soon. Business Term of the Day: Variable Reverse Repo Auction Read more
In this episode, find out why US-based private equity firm Cerebrus is looking to buy bad loans from Yes Bank, also find out why Bharti Airtel is looking to raise tariffs this year ... Read more
In this episode, find out why US-based private equity firm Cerebrus is looking to buy bad loans from Yes Bank, also find out why Bharti Airtel is looking to raise tariffs this year Business Term of the Day: Open market operation (OMO) Read more
In this episode, find out why Vedanta scrapped its plans to rejig its corporate structure, also find out why oil prices rose in trade. Business Term of the Day: Liquidity Adjustmen ... Read more
In this episode, find out why Vedanta scrapped its plans to rejig its corporate structure, also find out why oil prices rose in trade. Business Term of the Day: Liquidity Adjustment Facility (LAF) Read more
In this episode, find out why Hero Fincorp has raised Rs 2000 cr capital, also find out why US markets ended lower Business Term of the Day: Nominal interest rate & actual int ... Read more
In this episode, find out why Hero Fincorp has raised Rs 2000 cr capital, also find out why US markets ended lower Business Term of the Day: Nominal interest rate & actual interest rate Read more
In this episode, find out why SBI posted the highest quarterly profit, also find out why Zee Entertainment-Sony deal could see a delay Business Term of the Day: Overnight rates Read more
In this episode, find out why SBI posted the highest quarterly profit, also find out why Zee Entertainment-Sony deal could see a delay Business Term of the Day: Overnight rates Read more
In this episode, find out why Emami is looking at succession planning, also find out why US markets fell overnight. Business Term of the Day: Warrants Read more
In this episode, find out why Emami is looking at succession planning, also find out why US markets fell overnight. Business Term of the Day: Warrants Read more
In this episode, find out why Anil Agarwal is looking merger Vedanta with Indian unit, also find out why OPEC countries agreed to increase crude output. Business Term of the Day: C ... Read more
In this episode, find out why Anil Agarwal is looking merger Vedanta with Indian unit, also find out why OPEC countries agreed to increase crude output. Business Term of the Day: Capital expenditure Read more
In this episode, find out why the Tata Teleservices is not looking to convert AGR dues into equity, also find out why investors are cautious ahead of a crucial OPEC meeting today. ... Read more
In this episode, find out why the Tata Teleservices is not looking to convert AGR dues into equity, also find out why investors are cautious ahead of a crucial OPEC meeting today. Business Term of the Day: Central bank digital currencies. Read more
In this episode, find out why the Tata group is on an acquisition spree, also find out why Asian markets rose in early trade. Business Term of the Day: Budget estimates Read more
In this episode, find out why the Tata group is on an acquisition spree, also find out why Asian markets rose in early trade. Business Term of the Day: Budget estimates Read more
In this episode, find out why the government has extended the tenure of LIC chairman, also find out about Zomato's plan to set up an NBFC Business Term of the Day: Economic Surve ... Read more
In this episode, find out why the government has extended the tenure of LIC chairman, also find out about Zomato's plan to set up an NBFC Business Term of the Day: Economic Survey Read more
