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 why Religare Enterprises is looking to raise Rs 570 cr from investors, why US markets had a choppy session Business Term of the Day: Delisting Read more
In this episode, find out why Religare Enterprises is looking to raise Rs 570 cr from investors, why US markets had a choppy session Business Term of the Day: Delisting Read more
In this episode, find out why SEBI barred Franklin Templeton AMC from launching debt schemes, why Indian markets are set to open higher after a steady Asia opening Business Term o ... Read more
In this episode, find out why SEBI barred Franklin Templeton AMC from launching debt schemes, why Indian markets are set to open higher after a steady Asia opening Business Term of the Day: Apple’s WWDC Read more
In this episode, find out why G7 countries have reached a landmark global tax deal, why Bajaj Finance is expecting higher bad loans in the first half of FY22 Business Term of th ... Read more
In this episode, find out why G7 countries have reached a landmark global tax deal, why Bajaj Finance is expecting higher bad loans in the first half of FY22 Business Term of the Day: Gaps Read more
In this episode, find out why Softank is in talks with Flipkart once again, why traders are watching out for China opening Business Term of the Day: Monetary policy Read more
In this episode, find out why Softank is in talks with Flipkart once again, why traders are watching out for China opening Business Term of the Day: Monetary policy Read more
In this episode, find out why Supreme court said that india’s vaccine policy is irrational, why meme stocks rallied in US trade Business Term of the Day: Meme stocks Read more
In this episode, find out why Supreme court said that india’s vaccine policy is irrational, why meme stocks rallied in US trade Business Term of the Day: Meme stocks Read more
In this episode, find out why the major automobile manufacturers reported a decline in May sales, why PMI data fell to 10 month low Business Term of the Day: Reflation Read more
In this episode, find out why the major automobile manufacturers reported a decline in May sales, why PMI data fell to 10 month low Business Term of the Day: Reflation Read more
In this episode, find out why the Supreme Court has asked the centre to revise its vaccine policy, why Aditya Puri is interested in PNB housing Finance Business Term of the Day: ... Read more
In this episode, find out why the Supreme Court has asked the centre to revise its vaccine policy, why Aditya Puri is interested in PNB housing Finance Business Term of the Day: Revenue deficit Read more
In this episode, find out why the government has extended the ECLGS to airlines & hospitals, why Oil edged higher on Asia trading Business Term of the Day: Gross Domestic Pro ... Read more
In this episode, find out why the government has extended the ECLGS to airlines & hospitals, why Oil edged higher on Asia trading Business Term of the Day: Gross Domestic Product Read more
In this episode, find out why Sun Pharma & Eicher Motors Q4 earning disappointed, why US markets rallied on Thursday Business Term of the Day: Valuation Read more
In this episode, find out why Sun Pharma & Eicher Motors Q4 earning disappointed, why US markets rallied on Thursday Business Term of the Day: Valuation Read more
In this episode, find out why Uday Kotak believes that government should provide fiscal stimulus, why Amazon is looking to MGM for $8.5 bn Business Term of the Day: Follow on Pub ... Read more
In this episode, find out why Uday Kotak believes that government should provide fiscal stimulus, why Amazon is looking to MGM for $8.5 bn Business Term of the Day: Follow on Public offer Read more
