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 Vedanta Resources’ plan to raise NCDs, also find out about Bajaj Finserv’s plan to launch 7 mutua fund schemes. Read more
In this episode, find out about Vedanta Resources’ plan to raise NCDs, also find out about Bajaj Finserv’s plan to launch 7 mutua fund schemes. Read more
In this episode, find out about Tata Motors’ performance in the global wholesale business, also find out about Nazara Tech subsidiary’s acquisition in Pro Football Network. Read more
In this episode, find out about Tata Motors’ performance in the global wholesale business, also find out about Nazara Tech subsidiary’s acquisition in Pro Football Network. Read more
In this episode, find out why World Bank has cut India’s FY24 growth forecast, also find out about Maruti Suzuki’s SUV strategy for FY24 Business Term of the Day: Credit quality Read more
In this episode, find out why World Bank has cut India’s FY24 growth forecast, also find out about Maruti Suzuki’s SUV strategy for FY24 Business Term of the Day: Credit quality Read more
In this episode, find out why lenders have postponed Reliance Capital’s auction, also find out about HDFC Bank’s strong business growth in FY23. Read more
In this episode, find out why lenders have postponed Reliance Capital’s auction, also find out about HDFC Bank’s strong business growth in FY23. Read more
In this episode, find out about SEBI’s investigation into Adani Group’s links with 3 offshore entities, and also find out why Indian markets fell in early trade today. Read more
In this episode, find out about SEBI’s investigation into Adani Group’s links with 3 offshore entities, and also find out why Indian markets fell in early trade today. Read more
In this episode, find out about Air India’s fund raising from SBI, Bank of Baroda, also find out about PhonePe calling off deal with Zest Money Read more
In this episode, find out about Air India’s fund raising from SBI, Bank of Baroda, also find out about PhonePe calling off deal with Zest Money Read more
In this episode, find out about Vedanta’s interim dividend for FY23, also find out about Jindal Stainless’ nickel supply pact with New Yaking. Read more
In this episode, find out about Vedanta’s interim dividend for FY23, also find out about Jindal Stainless’ nickel supply pact with New Yaking. Read more
In this episode, find out about HDFC approving the issuance of NCDs worth Rs 57,000 cr, also find out about Aditya Birla Capital’s stake sale in Aditya Birla Insurance Brokers. Read more
In this episode, find out about HDFC approving the issuance of NCDs worth Rs 57,000 cr, also find out about Aditya Birla Capital’s stake sale in Aditya Birla Insurance Brokers. Read more
