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 DOT may soon allow mobile phone users to switch connections, why Bitcoins rebounded after sharply dropping Business Term of the Day: Capital Markets Read more
In this episode, find out why DOT may soon allow mobile phone users to switch connections, why Bitcoins rebounded after sharply dropping Business Term of the Day: Capital Markets Read more
In this episode, find out why Bharat Biotech is looking to apply for an emergency use listing tag for its covid vaccine, why Bitcoins had a volatile weekend Business Term of the D ... Read more
In this episode, find out why Bharat Biotech is looking to apply for an emergency use listing tag for its covid vaccine, why Bitcoins had a volatile weekend Business Term of the Day: Revenue Read more
In this episode, find out why HPCL’s profit jumped in Q4, why RBI has imposed penalty on City Union bank Business Term of the Day: Brent Crude Read more
In this episode, find out why HPCL’s profit jumped in Q4, why RBI has imposed penalty on City Union bank Business Term of the Day: Brent Crude Read more
In this episode, find out why PSU banks are seeking second round of restructuring, why it’s good news for tourists travelling to European Union Business Term of the Day: Bitcoin Read more
In this episode, find out why PSU banks are seeking second round of restructuring, why it’s good news for tourists travelling to European Union Business Term of the Day: Bitcoin Read more
In this episode, find out why Tata Motors reported a surprise loss in Q4, why global investors will watch out for Fed’s April minutes today Business Term of the Day: SUUTI Read more
In this episode, find out why Tata Motors reported a surprise loss in Q4, why global investors will watch out for Fed’s April minutes today Business Term of the Day: SUUTI Read more
In this episode, find out why Bharti Airtel's Q4 numbers missed estimates, why WPI inflation rose to a decade high Business Term of the Day: Aggregate demand & Aggregate supp ... Read more
In this episode, find out why Bharti Airtel's Q4 numbers missed estimates, why WPI inflation rose to a decade high Business Term of the Day: Aggregate demand & Aggregate supply Read more
In this episode, find out why L&T’s Q4 numbers beat estimates, why investors will watch out for WPI inflation number today Business Term of the Day: Net profit Read more
In this episode, find out why L&T’s Q4 numbers beat estimates, why investors will watch out for WPI inflation number today Business Term of the Day: Net profit Read more
In this episode, find out why JSPL reported the highest-ever operating profit, why Bitcoins investors are worried Business Term of the Day: Cost-push inflation Read more
In this episode, find out why JSPL reported the highest-ever operating profit, why Bitcoins investors are worried Business Term of the Day: Cost-push inflation Read more
In this episode, find out why Former Star chairman Uday Shankar promoted company is looking at US listing, why Asian stocks fell in opening trade Business Term of the Day: Index o ... Read more
In this episode, find out why Former Star chairman Uday Shankar promoted company is looking at US listing, why Asian stocks fell in opening trade Business Term of the Day: Index of Industrial Production (IIP) Read more
In this episode, find out why net flows into mutual funds slowed down in April, why Inflation, IIP data will be in focus today Business Term of the Day: MSCI Index Read more
In this episode, find out why net flows into mutual funds slowed down in April, why Inflation, IIP data will be in focus today Business Term of the Day: MSCI Index Read more
