Ola reported a consolidated PBT of ₹2,313 crores for FY 16 in comparison to FY 15 loss of ₹796 crores. This has been attributed to heavy spending to maintain market leadership against Uber.
Xander Group to acquire 100% interest in Shriram’s Gateway SEZ in Chennai for $190 million. This is the largest private equity buyout so far in India’s real estate sector.
SBI has cut deposit rates by up to 50 basis points for maturities above two years. however, it has retained the 7.40% on one-year deposits for senior citizens.
Tuesday-2nd May 2017
PepsiCo to roll out Pepsi Black, a zero-sugar cola in cans, to counter Coke Zero, reflecting the shifting consumer preference towards less sugary drinks in India.
China Development Bank has objected to the $6billion merger of debt-ridden telecom operators RCom and Aircel even as regulators including the Competition Commission of India have signed off on the deal. The assets transferred are offered as security to Chinese Bank and thus they seek a lender’s meeting.
Infosys said that it would hire 10,000 US workers over the next two years as Indian IT industry looks to mitigate the impact of the tighter work visa rules.
SIPs in MFs rose to an all-time high of ₹4,200 crores in the month of April 2017.
Promoters of HDFC Life and Max Life have extended the deadline for the merger of the two life insurers by a year to June 2018 because the sector regulator has yet to give its nod for the proposed deal.
Wednesday- 3rd May 2017
The cabinet cleared the NPA resolution package that includes an ordinance to empower the RBI to more effectively deal with bad assets. It also approved a new policy to boost consumption of locally produced steel and modifications to recommendations of the Seventh Central Pay Commission with respect to pensioners.
Private Equity Investors TPG and General Atlantic (GA) have joined forces in a bid to acquire a controlling stake in Fortis Healthcare. This also involves the purchase of the diagnostics arm SRL.
Ratan Tata’s venture fund RNT Capital Advisors and US hedge fund Falcon Edge have invested an amount of $100 million in Ola in exchange of shares of the company at ₹13,521 each.
Brinton Pharmaceuticals has raised an amount of $4 million from Tata Capital Healthcare Fund, as the firm looks to enter into newer areas such paediatrics and gynaecology and expand its international operations.
ICICI posted 3 times rise in net profit for Q4 on the YoY basis at ₹2,025 crores from last year’s ₹702 crores. It announced a dividend of ₹2.5 per share and a bonus share for every 10 shares.
Thursday- 4th May 2017
The Nifty closed at an all-time high while the Sensex ended above the 30,000 mark, a day after ICICI Bank posted times increase in its profits and cabinet approved NPA resolution. Sensex closed at 30,126 points and nifty closed at 9,360 points.
India urged the UK to expedite extradition of Vijay Mallya and other fugitives besides raising the issue of visa-related difficulties faced by Indian students and skilled professionals at the maiden home secretary-level talks.
Patanjali reported a revenue of ₹10,561 crores for FY17, making it the second largest FMCG player, behind HUL.
Facebook has tied up with Bharti Airtel to deploy 20,000 Wi-Fi hotspots across the country to offer affordable internet services through the social networking major’s Express WiFi service over the next few months.
Friday-5th May 2017
Sachin Tendulkar and Pepsico are coming together to produce a raft of nutrition-focused food products and beverages through a new firm, Liquefy Innovations LLP.
Cement giant LafargeHolcim has initiated a process that could lead to the union of its Indian operations ACC and Ambuja Cement.
Sensex and Nifty fell over 1% as banks reversed previous day’s gains. Nifty ended at 9,285 points and the Sensex at29,859 points.
The world’s biggest retailer Walmart Stores is exploring an equity partnership with Flipkart to take on common rival Amazon in India. The companies are engaged in early talks and a meeting is scheduled this week.
Godrej Consumer Products has filed a case against former managing director Arumugham Mahendran in the Bombay High Court, accusing him of breach of trust by misusing classified information for his insecticide business that will compete with Godrej brands Good Knight and Hit.
Zomato has acquired logistics technology startup Sparse Labs, as it looks to improve the delivery experience for consumers. The financial details of the transaction were not disclosed.
Shares of Reliance Industries (RIL) hit a seven-year high on the National Stock Exchange on Monday at INR 1,129.Experts said the rally is not over yet.
Tuesday-27th September 2016
A decade after the Ambani brothers split, Reliance Communications (RCom) Chairman Anil Ambani announced that his telecom company has “virtually“ merged with Reliance Jio Infocomm, owned by elder brother Mukesh.
Air India’s turnaround -announced by Prime Minister Narendra Modi in his Independence Day Speech -seems unlikely, as the national carrier has reported operating loss of INR 246 crore during the first quarter of the current fiscal.
State-run Coal India plans to repurchase 1.7%, or INR 10.89 crore shares in the mining company at INR 335 each. Of the total shares it is aiming to buy back, 15% has been earmarked for purchase from small shareholders.
Wednesday- 28th September 2016
Exactly a year after strengthening regulation of the 13-year-old commodity derivatives market, the Securities and Exchange Board of India (Sebi) has taken the first steps towards its growth by allowing exchanges like MCX and NCDEX to launch options in commodities.
MRF became only the third company in the country’s stock market history to break past the INR 50,000 per share mark on Wednesday as an all-around rally in tyre stocks helped the Chennai-based firm to outperform the Sensex and Nifty in 2016.
The Union Cabinet has approved strategic disinvestment of Bharat Pumps and Compressors and closure of Hindustan Cable.
The Cabinet has approved an INR 2,256-crore makeover of the IT backbone for indirect taxes in anticipation of the Goods and Services Tax.
Thursday- 29th September 2016
Following a surgical strike by India in the PoK, benchmark indices dropped by 1.6% -their biggest single-day fall in three months. The rupee also weakened 0.6% to INR 66.86 against the dollar.
Unocoin, a Bengaluru-based Bitcoin startup, has raised $1.5 million in a funding round from Blume Ventures, Mumbai Angels and ah! Ventures along with international investors such as Digital Currency Group, Boost VC, Bank to the Future and FundersClub.
Amidst a selloff trend in Indian equity markets, NSE-listed Jubilant Life Sciences has raised $300 million through a sale of unsecured bonds by its pharmaceuticals arm in Singapore, according to people directly familiar with the details of the offering.
Shares of ICICI Prudential Life Insurance Company extended their losses and ended 11% down at Rs 297.65 after debuting at a discount to its issue price on Thursday. The issue price was INR 334 per share.
Friday- 30th September 2016
The Goods and Services Tax (GST) Council approved draft rules for the proposed levy and agreed to a refund mechanism for central and state tax holidays that will continue under the new GST regime. India’s biggest indirect tax reform is set to roll out by April 1 next year.
The Directorate General of Civil Aviation has allowed use and in-flight charging of Samsung’s Galaxy Note 7 manufactured after September 15 after the ban was put on the same following incidents of the battery getting blasted while it was charging.
Stepping up action in the Rs 5,600-crore NSEL money laundering case, the Enforcement Directorate today attached assets worth INR 1,170 crore of Financial Technologies India Ltd (FTIL).
State oil firms have raised the price of petrol by 28 paise and cut that of diesel by 6 paise.The new prices will be effective Saturday, Indian Oil Corp said in a statement.