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 Carlyle offloading a 2.5% stake in Delhivery via a block deal, and also about TCS’s $1.1 bn deal from UK’ Nest. Business Term of the Day: Insurance ... Read more
In this episode, find out about Carlyle offloading a 2.5% stake in Delhivery via a block deal, and also about TCS’s $1.1 bn deal from UK’ Nest. Business Term of the Day: Insurance Broker Read more
In this episode, find out about Baring PE, ChrysCapital’s acquisition of HDFC Credila for ₹9,060 crore,, also about SEBI’s ban on IIFL Securities Business Term of the Day: First ... Read more
In this episode, find out about Baring PE, ChrysCapital’s acquisition of HDFC Credila for ₹9,060 crore,, also about SEBI’s ban on IIFL Securities Business Term of the Day: First Loan Default Guarantee Read more
In this episode, find out about Asia’s largest train wheel manufacturing plant in India, also about Adani Enterprises’ foray into train ticketing Business Term of the Day: Burn R ... Read more
In this episode, find out about Asia’s largest train wheel manufacturing plant in India, also about Adani Enterprises’ foray into train ticketing Business Term of the Day: Burn Rate Read more
In this episode, find out about Maruti Suzuki’s new multi-purpose vehicle, also about TRAI’s new directive to telecoms to deploy AI/ML to detect spam calls Business Term of the D ... Read more
In this episode, find out about Maruti Suzuki’s new multi-purpose vehicle, also about TRAI’s new directive to telecoms to deploy AI/ML to detect spam calls Business Term of the Day: Securities Appellate Tribunal (SAT) Read more
We dive into the significant developments shaping the Indian economy. We discuss the recent drop in retail inflation, which hit a 25-month low in May. With easing food prices as th ... Read more
We dive into the significant developments shaping the Indian economy. We discuss the recent drop in retail inflation, which hit a 25-month low in May. With easing food prices as the main driver, this development offers relief to the Reserve Bank of India (RBI) and raises the possibility of the central bank maintaining interest rates in the upcoming meeting. Business Term of the Day: Warrants Read more
In this episode, find out about fundraising of TV Motors’ finance arm from Premji Invest, also about Sequoia Capital’s stake sale in Go Fashion Business Term of the Day: Takeout ... Read more
In this episode, find out about fundraising of TV Motors’ finance arm from Premji Invest, also about Sequoia Capital’s stake sale in Go Fashion Business Term of the Day: Takeout financing Read more
In this episode, find out about HDFC bank’s new home loan business head, also why Delhivery moved NCLT against Go First. Business Term of the Day: Call money rate Read more
In this episode, find out about HDFC bank’s new home loan business head, also why Delhivery moved NCLT against Go First. Business Term of the Day: Call money rate Read more
In this episode, find out about LIC raising stake in Tech Mahindra to 8.88%, also about Hero MotoCorp’s plan to expand its electric range Business Term of the Day: Tender offer Read more
In this episode, find out about LIC raising stake in Tech Mahindra to 8.88%, also about Hero MotoCorp’s plan to expand its electric range Business Term of the Day: Tender offer Read more
In this episode, find out about the legal notice issued by Reliance Home Finance debenture holders against Bank of Baroda, also Byju’s default on its loan Business Term of the Da ... Read more
In this episode, find out about the legal notice issued by Reliance Home Finance debenture holders against Bank of Baroda, also Byju’s default on its loan Business Term of the Day: Term loan Read more
In this episode, find out about Bank of Baroda’s plan to auction a part stake in NSE, also find about shareholders' rejection of Baba Kalyani’s reappointment for CEO Business Ter ... Read more
In this episode, find out about Bank of Baroda’s plan to auction a part stake in NSE, also find about shareholders' rejection of Baba Kalyani’s reappointment for CEO Business Term of the Day: Board resolution Read more
