Author: Finance Khabar
MUMBAI: L Catterton, the world’s largest consumer-focused private equity firm, will invest Rs 1,894.50 crore in exchange for a 0.39 percent stake in Jio Platforms, a record tenth investment in the Reliance Industries (RIL) digital unit in seven weeks. RIL, the oil-to-retail-to-telecom conglomerate, has now sold 22.38 percent stake in Jio and collected Rs 104,326.65 crore from some of the world’s top technology investors in the largest continuous fundraising by a company anywhere in the world. The investment by L Catterton, which has made more than 200 investments in leading consumer brands, in Jio Platforms is at an equity valuation…
MUMBA: In order to ensure compliance with the Private Placement Memorandum (PPM), SEBI had vide its circular dated 5 February, 2020 prescribed an annual audit. The findings of the audit along with any corrective steps are required to be communicated to the Trustee, the Manager and SEBI. The audit is not required for angel funds and AIFs / Schemes with minimum commitment of INR 70 crore from each investor, subject to obtaining a waiver from the investors in the prescribed form. SEBI has clarified vide circular dated 12 June, 2020 that the finding of audit of compliance with PPM needs…
New Delhi: Foreign portfolio investors (FPIs) have infused a net capital of Rs 20,574 crore in Indian capital markets so far in June, with capital inflows rising due to improved liquidity position in the emerging markets of the world. According to the latest depository data, between June 1 and June 12, FPIs infused capital of Rs 22,840 crore into the stock markets. At the same time, capital of Rs 2,266 crore was extracted from the bond segment. Thus, there was a net capital inflow of Rs 20,574 crore. Earlier, FPIs remained net sellers for three consecutive months. He took out…
New Delhi: The market capitalization (market cap) of seven of the top 10 companies of the Sensex decreased by Rs 78,127.74 crore last week. HDFC Bank was the biggest loser in this. Among the top 10 companies, only Reliance Industries Ltd., Hindustan Unilever Ltd. And HDFC was in profit. HDFC Bank’s market capitalization fell by Rs 28,391.71 crore to Rs 5,39,305.38 crore in the business week ended June 12. Indian Airtel’s market valuation declined by Rs 13,638.89 crore to Rs 3,05,456.66 crore. On the other hand, Kotak Mahindra Bank’s MCAP decreased by Rs 11,882.72 crore to Rs 2,53,197.91 crore. ICICI…
New Delhi: An investment of Rs 815 crore was made in Gold Exchange Traded Fund (ETF) in May amid stock market fluctuations due to Corona virus crisis. The reason for this is that investors are now turning to safer investment options. The category has outperformed other properties over the past year. A total investment of Rs 3,299 crore has come in Gold ETFs since August 2019. According to the latest data from the Association of Mutual Funds in India (Amphi), the net investment in the May Gold ETFs stood at Rs 815 crore. It had an investment of Rs 731…
Bhubaneswar: ArcelorMittal Group, the world’s largest steelmaker, said it plans to invest Rs 2,000 crore in Odisha. Group chairman and CEO LN Mittal gave this information on Saturday. Mittal said this during a video conferencing conversation with Odisha Chief Minister Naveen Patnaik. Mittal told Patnaik during the conversation, “We have a Rs 2,000 crore investment plan in Odisha. This scheme is proceeding under the support and guidance of your administration, your people. Your experience is very big and you have handled the Covid-19 crisis very well, that’s good news. ” Regarding ArcelorMittal’s investment plan, Mittal said, “If it happens that…
New Delhi: Tata Communications incurred a loss of about Rs 275 crore in the fourth quarter of the financial year 2019-20 ended March 31. The main reason for this is to make provision for legislative dues. The company said on Saturday that it had a loss of Rs 199 crore in the same period a year ago. The company said that it had to make a provision of Rs 342 crore for the additional license fee liabilities in the March 2020 quarter. During this period, the company’s total income increased 3.6 percent year-on-year to about Rs 4,398 crore. The company…
New Delhi: Petrol and diesel prices have increased for the eighth consecutive day. Petrol prices were increased by 62 paise per liter on Sunday and 64 paisa per liter in diesel prices. With this, petrol has reached 75.78 per liter and diesel 75.78 per liter in the capital Delhi. In eight days, the price of petrol has increased by more than Rs 4 per liter and the rate of diesel by more than Rs 4.50 per liter. Fuel prices have been increased across the country, but their prices may vary depending on VAT or local sales tax in each state.…
New Delhi: After 8 and a half months, from 8 June, retail industry including malls, restaurants have been allowed to open. It is about a week but customers are not leaving the house due to fear of Corona. There is a huge possibility of retrenchment in the retail industry due to the decline in business. Shoppers Stop, the buyers’ favorite place in every malls, has decided to sack its 1,100 employees. The Corona epidemic has had the worst effect on a Shoppers Stop in India’s oldest department store. People involved in the case said that 1000 people have been evacuated…
New Delhi: There is no stopping of these cyber crimes, and even amidst strict laws and policing the incidences are only cropping day after day even in these pandemic times. As per reports, a banker who ordered booze online has been cheated of Rs. 82500. In a leading daily it has been reported that the banker while making the order shared his credit card details for home delivery of liquor worth Rs. 4500. A resident of Raheja Vihar in Chandivili shared the details despite the cyber officials warning against it. The incident occurred on May 18 when the victim was…
The European Union will agree to borrow billions of euros from financial markets this summer, a European official predicted Friday, despite ongoing differences over how to deal with the economic shock from Covid-19. European countries have battled over a plan to raise 750 billion euros ($847 billion) in public markets since the European Commission, the executive arm of the EU, presented the idea in late May. Negotiations are ongoing, but some member states are still reluctant to take the unprecedented step, fearing taking too much risk for their own taxpayers. However, speaking at a Goldman Sachs virtual conference on Friday,…
New Delhi: With seven straight days of hike in auto fuel price since the daily revision norm has been reinstated, the petrol and diesel prices have gone up by Rs. 3.9 and Rs. 4 per litre. On Saturday, the prices in line with international crude oil rates and foreign exchange rates have been upped by 59 paise per litre on petrol and 58 paise on diesel. In the wake of lockdown which spanned over 2 months, the daily revision was stalled with a huge cut back on demand. As per the price notification of state oil marketing companies, petrol and…
MUMBAI: On Saturday, public sector Bharat Heavy Electricals Ltd (BHEL) reported a net loss of Rs 1,534 crore for the quarter ended March when compared to a net profit of Rs 676 crore in the same period a year ago. Total income of the engineering major fell to Rs 5,198 crore in the fourth quarter of 2019-20 from Rs 10,492 crore last year. Total expenses too came down to Rs 5,906 crore from Rs 9,217 crore year-on-year. The quarter was an execution-heavy quarter for capital goods companies whose deliveries were hit by the COVID-19 nationwide lockdown in the last week…
PUNE: While coronavirus positive cases continue to soar in Maharashtra, Apollo Diagnostics has come forward and initiated door-to-door blood sample collection facilities for the needed patients. This service is a boon for patients as they will not have to step out of their house, and the spread of the disease can be controlled. The Apollo Diagnostics workers giving these services adhere to the safety measures required to keep themselves away from getting infected with the coronavirus. Amid lockdown, the workers also faced many challenges while entering society to collect the samples. Till now more than 1,000 home samples were collected.…
MUMBAI: NAREDCO on Friday organized an online meet with recently formed MoEF Expert Committee members to discuss long pending MOEF issues for fast tracking and framing model conditions for housing and construction projectsrequiring prior environmental clearance. The suggestions for Conditions or pre certifications to qualify for fast track and Framing model conditions for EC to housing and construction projects were presented by Mr Kishore Bhatija, Vice President, NAREDCO Maharashtra and MD, K. Raheja Corp. The meeting was attended by all the 4 members of the committee including the Chairman , Shri. Sunil Kumar Singh, I.A.S, MoEF Expert Committee, MOEF&CC, Government…
New Delhi: With the gradual opening of the lockdown imposed due to Corona infection, the price of petrol and diesel continues to rise. Petrol and diesel prices were increased by 59 paise per liter for the sixth consecutive day. Government oil companies reintroduced daily changes in fuel prices. Petrol price in the capital Delhi increased from Rs 74.57 to Rs 75.16 per liter. Similarly, the price of diesel increased from Rs 72.81 to Rs 73.39 per liter. In the last seven days, the price of petrol has increased by Rs 3.9 and the price of diesel by four rupees. In…
New Delhi: After all the changes after the corona virus, there can be a change in salary slip. News is coming that sectors like IT sector, banking, FMCG, consultancy, automobile, manufacturing can bring new salary slips. Anshul Prakash, partner at Khaitan & Co, a specialist in Employment and Labor Law, said companies have plans to formulate a new policy on behalf of HR. He also informed that now components like travel and convenience allowance, oil and driver’s allowance, vehicle maintenance charge can be removed from the salary slip. This can happen because people are not traveling and working from home.…
New Delhi: After permission to open restaurants, McDonald’s has started operating its outlets in North and East India. MacDonald said in a statement released on Saturday that customers visiting the company’s restaurants will have a completely safe and comfortable seating environment. The company said that it has changed more than 50 procedures to protect customers and its employees. The company said that its restaurants are undergoing thermal screening of employees. It is mandatory for employees to wear masks and gloves. In addition, employees frequently wash hands and use hand sanitizers. Apart from this, the temperature of customers coming to restaurants…
MUMBAI: India’s ban on electronic nicotine delivery systems (ENDS) such as e-cigarettes has robbed the country’s 120 million smokers of access to less harmful alternatives, a tobacco harm reduction advocate said at an online global forum on June 11. “This got me to wonder why a country which would benefit the most from risk reduction so hastily ban it? Why didn’t the government think that a million Indian lives lost every year to smoking were worth saving?” Association of Vapers India (AVI) director Samrat Chowdhery said during the virtual Global Forum on Nicotine (GFN).
HYDERABAD: AirAsia India today marked its 6th anniversary with #PassOnTheGoodwill – a token of gratitude for all its patrons. Riding on the rich legacy of its promoters – the Tata Group and AirAsia Group, AirAsia India spread its wings in the domestic skies on 12th June, 2014, from Bengaluru-Goa, heralding the emergence of a young, vibrant and dynamic airline brand. The airline has expanded significantly with a workforce of over 3200 Allstars playing a pivotal role in its operations across 21 destinations in India with a fleet of 30 Airbus A320 aircraft. In the spirit of passing on the goodwill,…