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 who is the latest contender to buy out IDFC Asset Management Company, also find out about Maruti Suzuki’s plans to enter the electric car segment Business ... Read more
In this episode, find out who is the latest contender to buy out IDFC Asset Management Company, also find out about Maruti Suzuki’s plans to enter the electric car segment Business Term of the Day: Economic Sanctions Read more
In this episode, find out about equity raising plans of Indian Hotels and Vodafone plc, also find out about who is biddig for Actis Llp’s Indian renewable energy platform Sprng Ene ... Read more
In this episode, find out about equity raising plans of Indian Hotels and Vodafone plc, also find out about who is biddig for Actis Llp’s Indian renewable energy platform Sprng Energy Business Term of the Day: Monetary policy committee Read more
In this episode, find out about Hero Moto Corp’s plans to set up electric charging stations along with BPCL, also find out about Crompton Greaves’ acquisition plans Read more
In this episode, find out about Hero Moto Corp’s plans to set up electric charging stations along with BPCL, also find out about Crompton Greaves’ acquisition plans 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 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
