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 why IDFC Bank’s V Vaidyanathan has gifted 9 lakh shares to his staff, also find out why Bharti Airtel is looking to raise Rs 5000 crore through rupee bond ... Read more
In this episode, find out why IDFC Bank’s V Vaidyanathan has gifted 9 lakh shares to his staff, also find out why Bharti Airtel is looking to raise Rs 5000 crore through rupee bonds. Business Term of the Day: Dollar rupee swap Read more
In this episode, find out why Indigo’s Rakesh Gangwal has stepped down from the board, also find out why Amazon and Reliance are eyeing the telecast rights to IPL Read more
In this episode, find out why Indigo’s Rakesh Gangwal has stepped down from the board, also find out why Amazon and Reliance are eyeing the telecast rights to IPL Read more
In this episode, find out why Infosys is targeting a 20% jump in annual revenue in FY22, also find out why Moody’s changed outlook on Vedanta Resources to negative. Business Term o ... Read more
In this episode, find out why Infosys is targeting a 20% jump in annual revenue in FY22, also find out why Moody’s changed outlook on Vedanta Resources to negative. Business Term of the Day: options and futures. Read more
In this episode, find out why SEBI took a U-turn on splitting CMD roles, also find out why CLSA has upgraded HDFC Business Term of the Day: Forensic audit Read more
In this episode, find out why SEBI took a U-turn on splitting CMD roles, also find out why CLSA has upgraded HDFC Business Term of the Day: Forensic audit Read more
In this episode, find out why Cipla promoters are looking to sell stake through block deal, also find out why Spicejet results were postponed for a day. Business Term of the Day: ... Read more
In this episode, find out why Cipla promoters are looking to sell stake through block deal, also find out why Spicejet results were postponed for a day. Business Term of the Day: Audit Committee. Read more
In this episode, find out why lenders to Future Retail have agreed to halt the sale of assets, also find out why Eicher Motors will announce a fall in profit in Q3 Business Term of ... Read more
In this episode, find out why lenders to Future Retail have agreed to halt the sale of assets, also find out why Eicher Motors will announce a fall in profit in Q3 Business Term of the Day: Debt Restructuring Read more
In this episode, find out why RBI Governor warned Indians against private cryptocurrencies, also find out why US markets are getting ready for a rate hike soon. Business Term of t ... Read more
In this episode, find out why RBI Governor warned Indians against private cryptocurrencies, also find out why US markets are getting ready for a rate hike soon. Business Term of the Day: Variable Reverse Repo Auction Read more
In this episode, find out why US-based private equity firm Cerebrus is looking to buy bad loans from Yes Bank, also find out why Bharti Airtel is looking to raise tariffs this year ... Read more
In this episode, find out why US-based private equity firm Cerebrus is looking to buy bad loans from Yes Bank, also find out why Bharti Airtel is looking to raise tariffs this year Business Term of the Day: Open market operation (OMO) Read more
In this episode, find out why Vedanta scrapped its plans to rejig its corporate structure, also find out why oil prices rose in trade. Business Term of the Day: Liquidity Adjustmen ... Read more
In this episode, find out why Vedanta scrapped its plans to rejig its corporate structure, also find out why oil prices rose in trade. Business Term of the Day: Liquidity Adjustment Facility (LAF) Read more
In this episode, find out why Hero Fincorp has raised Rs 2000 cr capital, also find out why US markets ended lower Business Term of the Day: Nominal interest rate & actual int ... Read more
In this episode, find out why Hero Fincorp has raised Rs 2000 cr capital, also find out why US markets ended lower Business Term of the Day: Nominal interest rate & actual interest rate Read more
