Axis Bank: SEBI levied a penalty of Rs 5 lakh on the bank for violation of debt issuance norms. The matter related to issue of debt securities between 2016 and 2019, where the bank acted as a merchant banker.
Canada Pension Plan and Investment Board has sold 4 crore shares of Kotak Mahindra Bank worth around ₹6,800 crore. As per bulk deal data on BSE, the pension fund sold the shares at an average of ₹1,700.10 apiece. Separately, Regents of the University of California bought 1,12,27,404 equity shares in the private sector lender at an average of ₹1,699.05 per share
Oil marketing companies (OMCs): Raised petrol and diesel prices by 80 paise a litre each on Friday, the third increase in four days. Meanwhile, India’s top fuel retailers IOC, BPCL and HPCL together lost around $2.25 billion in revenue between November and March by keeping petrol and diesel prices unchanged despite a sharp rise in global crude oil prices.
The joint bid of Reliance Industries and Assets Care & Reconstruction Enterprise (ACRE) for debt-ridden Sintex Industries has been moved before the NCLT for approval after it was unanimously cleared by the lenders of the company.
Bharti Airtel will not buy 5G network equipment from Chinese vendors and will instead use equipment from European vendors such as Nokia and Ericsson, as well as openRAN-based 5G network provider Mavenir, among others. Airtel may also look at taking 100 MHz of 5G spectrum if it is affordable, but will be open for a lower quantum of airwaves if prices are high.
Moving on to markets
The key benchmark indices are likely to start Friday’s trade with nominal gains as per trends indicated by the SGX Nifty futures, which were quoting 17,290 levels at 8 am, hinting at a opening gain of 50-odd points on the Nifty index.
Asian stocks were largely steady on Friday, tracking the strong overnight finish in US indices. Oil retreated as European Union leaders refrained from fresh steps to cut imports of Russian crude
Markets will closely monitor EU summit’s last day meetings for any cues on likely bans on Russia’s energy imports.
Business Term of the day
Gross Merchandise Value (GMV) is a metric that measures your total value of sales over a certain period of time. It’s a metric that is most commonly used in the eCommerce industry and is also sometimes referred to as Gross Merchandise Volume. GMV can be used to determine the overall health of an eCommerce business, and a good indicator of growth. This is because it measures the volume and value of merchandise sold or the number of transactions handled.
In this episode, find out about Adani's plans to divest stake in Adani Wilmer, also about Zee Learn's decision to sign a settlement pact with JC Flowers ARC. Business Term of the D ... Read more
In this episode, find out about Adani's plans to divest stake in Adani Wilmer, also about Zee Learn's decision to sign a settlement pact with JC Flowers ARC. Business Term of the Day: Bonus shares Read more
In this episode, find out about Paytm's new auditors, also about promoter' stake sale in Inox Wind Business Term of the Day: Churn rate Read more
In this episode, find out about Paytm's new auditors, also about promoter' stake sale in Inox Wind Business Term of the Day: Churn rate Read more
In this episode, find out about RBI's approval to ICICI bank to increase stake in ICICI Lombard General Insurance Co Ltd, also about the big news announcements that market is watch ... Read more
In this episode, find out about RBI's approval to ICICI bank to increase stake in ICICI Lombard General Insurance Co Ltd, also about the big news announcements that market is watching this week. Business Term of the Day: Burn rate. Read more
In this episode, find out about Blackstone looking to submit non-binding bid for 33% promoter stake in Cipla, also about Zomato turning profitable. Business Term of the Day: Curren ... Read more
In this episode, find out about Blackstone looking to submit non-binding bid for 33% promoter stake in Cipla, also about Zomato turning profitable. Business Term of the Day: Currency in circulation Read more
In this episode, find out about Bain Capital selling stake in L&T Finance, also about Rites eying international contracts. Business Term of the Day: Treasury Bills Read more
In this episode, find out about Bain Capital selling stake in L&T Finance, also about Rites eying international contracts. Business Term of the Day: Treasury Bills Read more
In this episode, find out about Maruti Suzuki's Q1 sales figure, also about ED raid on Hero Motocorp chairperson Pawan Munjal. Business Term of the Day: Remittance Read more
In this episode, find out about Maruti Suzuki's Q1 sales figure, also about ED raid on Hero Motocorp chairperson Pawan Munjal. Business Term of the Day: Remittance Read more
In this episode, find out about SBI's fund raising via infrastructure bonds, also about promoter Padmaja Reddy selling stake in Spandana Sphoorty. Business Term of the Day: Alterna ... Read more
In this episode, find out about SBI's fund raising via infrastructure bonds, also about promoter Padmaja Reddy selling stake in Spandana Sphoorty. Business Term of the Day: Alternate Investment Fund (AIF) Read more
In this episode, find out why TCS announces change in senior management, also about Power Grid fund raising plan of upto Rs 5700 Cr via private placement of bonds. Business Term of ... Read more
In this episode, find out why TCS announces change in senior management, also about Power Grid fund raising plan of upto Rs 5700 Cr via private placement of bonds. Business Term of the Day: Angel investor Read more
In this episode, find out why ITC Ltd chose to retain 40% in de-merged ITC hotels, also about US court denying Go First emergency arbitration. Business Term of the Day: Arbitration Read more
In this episode, find out why ITC Ltd chose to retain 40% in de-merged ITC hotels, also about US court denying Go First emergency arbitration. Business Term of the Day: Arbitration Read more
In this episode, find out why Tata Motors is looking to convert its DVR shares into ordinary shares, also about Marico's deal with Satiya Nutraceuticals. Business Term of the Day: ... Read more
In this episode, find out why Tata Motors is looking to convert its DVR shares into ordinary shares, also about Marico's deal with Satiya Nutraceuticals. Business Term of the Day: Differential Voting Rights Read more
