Walmart’s Indian e-commerce company Flipkart has internally raised its IPO valuation target by around a third to $60-70 billion, and now plans a US listing in 2023 instead of this year, two people directly aware of the plan said. Flipkart, which competes with Amazon.com Inc in India’s booming e-commerce space, had earlier set an IPO valuation goal of $50 billion. The main reason for waiting for the IPO is due to Flipkart’s internal plan to boost valuations further by focusing on two of its relatively new businesses—online healthcare services and travel bookings.
Mahindra & Mahindra: The carmaker said on Thursday that a deal to sell its bankrupt unit, SsangYong Motor Co to South Korean electric carmaker Edison Motors Co had been terminated. The receiver of SsangYong cited Edison’s inability to deposit the bid amount for the termination of the deal, Mahindra said in an exchange filing.
NTPC: Maharashtra government has approved a joint venture between state-run MahaGenco and India’s largest power generator NTPC which will set up an ultra-mega solar power park with a total generation capacity of 2,500 MW.
Indiabulls Real Estate: The company approved the issue price of its Rs 1,500-crore QIB offering at Rs 106.38 per share.
Moving on to markets
The key benchmark indices are likely to start Friday’s session on a muted note ahead of the RBI’s crucial monetary policy announcement. At 7:45 am, the SGX Nifty futures were quoting at 17,750 levels, indicating an opening gain of 20-odd points for the Nifty50.
The market will keenly watch the Reserve Bank of India’s inflation and growth projections in the wake of the continued increase in oil and commodity prices. Many analysts, meanwhile, expect the central bank to keep the key rates unchanged.
Business Term of the day
Government borrowing plays an important role in government’s finances to meet its spending requirements. Government borrows through issue of government securities called G-secs and Treasury Bills. Borrowing is a loan taken by the government and falls under capital receipts in the Budget document.
In this episode, find out about SBI’s plans to raise $2bn from global markets, also find out why Indian markets are likely to open higher Business Term of the Day: Stagflation Read more
In this episode, find out about SBI’s plans to raise $2bn from global markets, also find out why Indian markets are likely to open higher Business Term of the Day: Stagflation Read more
In this episode, find out why Amazon has written to Sebi against Future Retail, also find out about Adani Wilmar’s acquisition of Kohinoor brand from McCormick Switzerland GMBH Bu ... Read more
In this episode, find out why Amazon has written to Sebi against Future Retail, also find out about Adani Wilmar’s acquisition of Kohinoor brand from McCormick Switzerland GMBH Business Term of the Day: Grey Market Premium Read more
In this episode, find out why Axis bank reported a 54% rise in net profit in Q4FY23, also find out about Tata Power looking to install 5000 EV charging points Business Term of the ... Read more
In this episode, find out why Axis bank reported a 54% rise in net profit in Q4FY23, also find out about Tata Power looking to install 5000 EV charging points Business Term of the Day: Hostile takeover Read more
In this episode, find out about HUL becoming Rs 50,000 crore turnover company, also find out why Bajaj Auto saw a drop in Q4 results. Business Term of the Day: Poison Pill Read more
In this episode, find out about HUL becoming Rs 50,000 crore turnover company, also find out why Bajaj Auto saw a drop in Q4 results. Business Term of the Day: Poison Pill Read more
In this episode, find out about Bank of India’s plans to raise Rs 2500 crore by issuing fresh equity shares, also find why Yes bank has initiated insolvency proceedings against Zee ... Read more
In this episode, find out about Bank of India’s plans to raise Rs 2500 crore by issuing fresh equity shares, also find why Yes bank has initiated insolvency proceedings against Zee Learn. Business Term of the Day: Short selling Read more
In this episode, find out about HDFC bank’s dividend to its shareholders for FY22, also find out why Indian markets will have a negative opening. Business Term of the Day: Index Read more
In this episode, find out about HDFC bank’s dividend to its shareholders for FY22, also find out why Indian markets will have a negative opening. Business Term of the Day: Index Read more
In this episode, find out about MuSigma Dhiraj Rajaram’s plans to raise debt to buy out Sequioa, also find out why Indian markets are likely to remain weak on global cues. Busines ... Read more
In this episode, find out about MuSigma Dhiraj Rajaram’s plans to raise debt to buy out Sequioa, also find out why Indian markets are likely to remain weak on global cues. Business Term of the Day: Net interest margins (NIM) Read more
In this episode, find out about Future group shareholders' vote on the deal with RIL, also find out about Tata Steel's plans to exit Russia. Business Term of the Day: ESOPs Read more
In this episode, find out about Future group shareholders' vote on the deal with RIL, also find out about Tata Steel's plans to exit Russia. Business Term of the Day: ESOPs Read more
In this episode, find out about Punjab and Sind Bank classifies SREI group of cos as fraud, also find out about VRL Logistics to sell wind power undertaking to Ratna Cement Busine ... Read more
In this episode, find out about Punjab and Sind Bank classifies SREI group of cos as fraud, also find out about VRL Logistics to sell wind power undertaking to Ratna Cement Business Term of the Day: Slump Sale Read more
In this episode, find out about L&T's plans to merge Mindtree and L&T Toubro Infotech, also find out about SBI’s move to hike the lending rate after 3 years Business Term ... Read more
In this episode, find out about L&T's plans to merge Mindtree and L&T Toubro Infotech, also find out about SBI’s move to hike the lending rate after 3 years Business Term of the Day: Marginal Cost of funds based lending rate (MCLR) Read more