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 why Google has taken CCI to court, also find out why Accenture reported better than expected Q1 nos Business Term of the Day: Delisting Read more
In this episode, find out about why Google has taken CCI to court, also find out why Accenture reported better than expected Q1 nos Business Term of the Day: Delisting Read more
In this episode, find out about why IDFC shareholders rejected Vinod Rai’s reappointment, also find out why Yes bank has urged Dish TV board to hold EGM Business Term of the Day: ... Read more
In this episode, find out about why IDFC shareholders rejected Vinod Rai’s reappointment, also find out why Yes bank has urged Dish TV board to hold EGM Business Term of the Day: Deposit Insurance and Credit Guarantee Corporation Read more
In this episode, find out about why Adani Group is looking to invest $20 bn in green energy projects, also find out why global markets had a choppy trading session Business Term o ... Read more
In this episode, find out about why Adani Group is looking to invest $20 bn in green energy projects, also find out why global markets had a choppy trading session Business Term of the Day: Sustainability bonds Read more
In this episode, find out about why investors will watch out for the FOMC meeting this week, also find out why Dish TV to defer AGM to seek clearance for board changes Business Te ... Read more
In this episode, find out about why investors will watch out for the FOMC meeting this week, also find out why Dish TV to defer AGM to seek clearance for board changes Business Term of the Day: annual general meeting Read more
In this episode, find out about why World Bank has discontinued its Doing Business Report, also find out why Poonawalla Fincorp’s CEO stepped down. Business Term of the Day: NARCL Read more
In this episode, find out about why World Bank has discontinued its Doing Business Report, also find out why Poonawalla Fincorp’s CEO stepped down. Business Term of the Day: NARCL Read more
In this episode, find out who are the bidders for the distressed Air India, also find out why India plans to sell upto 10% in Hindustan Copper. Business Term of the Day: Greenshoe ... Read more
In this episode, find out who are the bidders for the distressed Air India, also find out why India plans to sell upto 10% in Hindustan Copper. Business Term of the Day: Greenshoe option Read more
In this episode, find out why Zomato co-founder stepped down, also find out why Cabinet may consider telecom relief package Business Term of the Day: price to earnings ratio Read more
In this episode, find out why Zomato co-founder stepped down, also find out why Cabinet may consider telecom relief package Business Term of the Day: price to earnings ratio Read more
In this episode, find out why Yes bank is gearing up for Dish TV’s AGM, also find out how Jet Airways look set to start operations in Q12022 Business Term of the Day: valuation Read more
In this episode, find out why Yes bank is gearing up for Dish TV’s AGM, also find out how Jet Airways look set to start operations in Q12022 Business Term of the Day: valuation Read more
In this episode, find out why Wipro senior management is set to return to office this week, also find out why DMRC has to pay Rs 2950 crore to Reliance Infra. Business Term of the ... Read more
In this episode, find out why Wipro senior management is set to return to office this week, also find out why DMRC has to pay Rs 2950 crore to Reliance Infra. Business Term of the Day: Loan to value ratio Read more
In this episode, find out why Ford is shutting down its India operations, also find out why RBI Governor has major concerns about cryptocurrency Business Term of the Day: Income ... Read more
In this episode, find out why Ford is shutting down its India operations, also find out why RBI Governor has major concerns about cryptocurrency Business Term of the Day: Income tax return filing Read more
