Title – NHPC aims to securitise Rs 2000 cr revenue in FY23
Description – In this episode, find out about Reliance Brands’ plan to acquire 40% stake in Legno SPA, also find out about Hero MotoCorp’s plan to postpone its EV launch
Business Term of the Day: Mutual Fund
State-run NHPC Ltd aims to securitize ₹2,000 crore revenue in the current fiscal, said its chairman and managing director, Abhay Kumar Singh. This is part of the securitization model the company has adopted in line with the Centre’s national monetisation pipeline (NMP). India’s largest power generation firm has appointed SBI Capital Markets Ltd for this exercise.
SBI said it will endeavour to accelerate its digital agenda and forge partnerships with fintech firms and NBFCs to drive its business growth. Overall FY22 has been a much better year compared to the previous year as the pace of economic activity picked up.
Reliance Brands Ltd (RBL) and Plastic Legno SPA have entered a joint venture pact through which RBL will acquire a 40% stake in the European company’s toy manufacturing business in India.
Nestle India: Nestle India is looking to tap opportunities in new categories such as ‘healthy ageing’, ‘plant-based nutrition’ and ‘healthy snacking’ to boost growth in the country, its Chairman and Managing Director Suresh Narayanan said on Wednesday.
Carmakers: Leading carmakers Maruti Suzuki, Hyundai and Tata Motors reported robust dispatches to dealers in May on the back of strong demand for passenger vehicles across regions, even as the global semiconductor shortage continued to impact production. Mahindra & Mahindra, Kia India, Toyota Kirloskar Motor, Honda Cars and Skoda also witnessed strong demand for their models last month.
Hero MotoCorp: The two-wheeler major announced the postponement of its first electric vehicle unveil, which was earlier scheduled to take place in July, to the festive season later this year.
Moving on to markets
The Sensex and Nifty benchmarks are heading for a lower start today amid subdued global sentiment. At 8:00 am, the SGX Nifty futures were quoting at 16,440 level, hinting at an opening loss of 70 points for the Nifty. Market action will likely be stock-specific and volatility may continue given the performance of global peers. Investors will also watch out for OPEC+ meeting today, to see if any likely ease in oil prices could come if the group decides to increase production than its previous levels.
Business Term of the day
A mutual fund is a type of financial vehicle made up of a pool of money collected from many investors to invest in securities like stocks, bonds, money market instruments, and other assets. Mutual funds are operated by professional money managers, who allocate the fund’s assets and attempt to produce capital gains or income for the fund’s investors. A mutual fund’s portfolio is structured and maintained to match the investment objectives stated in its prospectus.
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