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 JSPL has revised the terms to sell power unit to promoter firm, why market is closely Q1 nos of Axis Bank, Kotak Mahindra Bank Business Term of the D ... Read more
In this episode, find out why JSPL has revised the terms to sell power unit to promoter firm, why market is closely Q1 nos of Axis Bank, Kotak Mahindra Bank Business Term of the Day: Market Share Read more
In this episode, find out why Bijus acquired Epic for $500 m, why IMF is estimating global growth at 6% Business Term of the Day: European Central Bank Read more
In this episode, find out why Bijus acquired Epic for $500 m, why IMF is estimating global growth at 6% Business Term of the Day: European Central Bank Read more
In this episode, find out why Bajaj Finance Q1 nos disappointed, why Swiggy closed a $1.25 bn fund raise Business Term of the Day: Cloud computing Read more
In this episode, find out why Bajaj Finance Q1 nos disappointed, why Swiggy closed a $1.25 bn fund raise Business Term of the Day: Cloud computing Read more
In this episode, find out why Several Adani group companies are under scanner, why global & domestic markets plunged in trade Business Term of the Day: Preferential allotmen ... Read more
In this episode, find out why Several Adani group companies are under scanner, why global & domestic markets plunged in trade Business Term of the Day: Preferential allotment Read more
In this episode, find out why Reliance Retail is looking to acquire Just Dial, why oil prices will be in focus post-OPEC deal Business Term of the Day: ESG Read more
In this episode, find out why Reliance Retail is looking to acquire Just Dial, why oil prices will be in focus post-OPEC deal Business Term of the Day: ESG Read more
In this episode, find out why Merchandise trade deficit fell in June, why today’s Oil is headed for the biggest weekly decline since mid March Business Term of the Day: Balance s ... Read more
In this episode, find out why Merchandise trade deficit fell in June, why today’s Oil is headed for the biggest weekly decline since mid March Business Term of the Day: Balance sheet Read more
In this episode, find out why Marcio has acquired stake in Apcos Naturals, why US markets closed higher on US fed chief statement Business Term of the Day: Data localisation Read more
In this episode, find out why Marcio has acquired stake in Apcos Naturals, why US markets closed higher on US fed chief statement Business Term of the Day: Data localisation Read more
In this episode, find out why NMDC is looking to demerge steel unit from itself, why today’s Asian stocks were mixed in early trade Business Term of the Day: Anchor investor Read more
In this episode, find out why NMDC is looking to demerge steel unit from itself, why today’s Asian stocks were mixed in early trade Business Term of the Day: Anchor investor Read more
In this episode, find out why PNB housing has questioned SEBI's power to direct valuation by an independent valuer, why today’s Dr. Reddy's said rollout of Sputnik V vaccine has to ... Read more
In this episode, find out why PNB housing has questioned SEBI's power to direct valuation by an independent valuer, why today’s Dr. Reddy's said rollout of Sputnik V vaccine has to be put on hold Business Term of the Day: bond yield Read more
In this episode, find out why RBI has asked banks to prepare for transition from Libor by Dec end, why ECB has raised its inflation target Business Term of the Day: LIBOR Read more
In this episode, find out why RBI has asked banks to prepare for transition from Libor by Dec end, why ECB has raised its inflation target Business Term of the Day: LIBOR Read more