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 why Essel Group chairman Subhash Chandra is questioning Invesco’s motive behind seeking change in Zee board, also find out why big tech firms are co ... Read more
In this episode, find out about why Essel Group chairman Subhash Chandra is questioning Invesco’s motive behind seeking change in Zee board, also find out why big tech firms are coming together to form an alliance Business Term of the Day: sovereign rating Read more
In this episode, find out about why France’s AXA group plans to sell entire shareholding in ICICI Lombarad, also find out why SBI is looking to raise another round of AT1 bonds Bu ... Read more
In this episode, find out about why France’s AXA group plans to sell entire shareholding in ICICI Lombarad, also find out why SBI is looking to raise another round of AT1 bonds Business Term of the Day: Additional Tier 1 bonds Read more
In this episode, find out about why IT depth has imposed a capital gains tax on Grasim Industries, also find out why Indian markets are set to open in trade today Business Term of ... Read more
In this episode, find out about why IT depth has imposed a capital gains tax on Grasim Industries, also find out why Indian markets are set to open in trade today Business Term of the Day: capital gains tax Read more
In this episode, find out about why RIL is defending the appointment of Saudi Aramco chairman on its board, also find out why Inveco has taken Zee to court Business Term of the Da ... Read more
In this episode, find out about why RIL is defending the appointment of Saudi Aramco chairman on its board, also find out why Inveco has taken Zee to court Business Term of the Day: unicorn Read more
In this episode, find out about why India is pitching for a revision in sovereign rating, also find out why Sebi has put Adani Wilmar IPO on track Business Term of the Day: Credit ... Read more
In this episode, find out about why India is pitching for a revision in sovereign rating, also find out why Sebi has put Adani Wilmar IPO on track Business Term of the Day: Credit ratings Read more
In this episode, find out about why BPCL is looking at divestment by March 2022, also find out why RIL is in talks to buy Glance InMobi. Business Term of the Day: Non-convertible ... Read more
In this episode, find out about why BPCL is looking at divestment by March 2022, also find out why RIL is in talks to buy Glance InMobi. Business Term of the Day: Non-convertible debentures Read more
In this episode, find out about why Google has taken CCI to court, also find out why Accenture reported better than expected Q1 nos Business Term of the Day: Delisting Read more
In this episode, find out about why Google has taken CCI to court, also find out why Accenture reported better than expected Q1 nos Business Term of the Day: Delisting Read more
In this episode, find out about why IDFC shareholders rejected Vinod Rai’s reappointment, also find out why Yes bank has urged Dish TV board to hold EGM Business Term of the Day: ... Read more
In this episode, find out about why IDFC shareholders rejected Vinod Rai’s reappointment, also find out why Yes bank has urged Dish TV board to hold EGM Business Term of the Day: Deposit Insurance and Credit Guarantee Corporation Read more
In this episode, find out about why Adani Group is looking to invest $20 bn in green energy projects, also find out why global markets had a choppy trading session Business Term o ... Read more
In this episode, find out about why Adani Group is looking to invest $20 bn in green energy projects, also find out why global markets had a choppy trading session Business Term of the Day: Sustainability bonds Read more
In this episode, find out about why investors will watch out for the FOMC meeting this week, also find out why Dish TV to defer AGM to seek clearance for board changes Business Te ... Read more
In this episode, find out about why investors will watch out for the FOMC meeting this week, also find out why Dish TV to defer AGM to seek clearance for board changes Business Term of the Day: annual general meeting Read more