BUSINESS
Entry of big pvt equity players set to heat up BPCL takeover
According to analysts, the entry of marquee private equity players Apollo and I Squared, having experience in the energy sector, in the BPCL disinvestment process has given new dimension to the whole exercise.
Anil Agarwal keen on co-investing $10 billion in India
Teaming up with London-based Centricus Asset Management Ltd, Agarwal is looking for investments in Indian companies, offering significant growth opportunities, said a report by Bloomberg Quint. Showing an interest in the country's Rs. 2.1 trillion disinvestment program, the partners are keen on turning around companies being sold off.
'Inflation seen elevated in 2021, may decline by that year-end'
It noted that given the expected inflation trajectory, the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) is likely to hold rates till Q2FY22 (Q3CY21), it said, adding that the RBI may continue to take other measures to keep financial conditions easy to support recovery.
SEBI gives Hindujas 1 month more to subscribe to IndusInd Bank warrants
In July 2019, the promoters subscribed to 25 per cent warrants aggregating to Rs 673.82 crore, in order to reinforce the confidence in the management and strength of the bank at a price of Rs 1,709 per share, when the market price was hovering at Rs 1,470 per share. Against the backdrop of Covid19 pandemic, which disrupted business operations of entities across the world.
Sensex, Nifty inch up to touch fresh highs
Healthy buying was witnessed in consumer durables and healthcare stocks, while decline in metal, telecom and FMCG stocks limited the gains on the indices. Around 10.20 a.m., Sensex was trading at 46,743.21, higher by 76.75 points or 0.16 per cent from its previous close of 46,666.46. It opened at 46,774.32 and has so far touched an intra-day high of 46,812.37 and a low of 46,627.60 points.
US Fed signals to keep interest rates near zero
The central bank also said that it will continue to increase its holdings of Treasury securities by at least $80 billion per month and of agency mortgage-backed securities by at least $40 billion per month until "substantial further progress has been made" toward the Fed's maximum employment and price stability goals.
Spectrum for 4G to be auctioned in March
“The notice inviting applications from telecom service providers will be issued later this month, and the government hopes to complete the sale by March 2021”, said Telecom Minister Ravi Shankar Prasad.
SEBI rejigs minimum public shareholding norms for cos under Insolvency and Bankruptcy Code
Post the SEBI board's decision, such companies will be mandated to have at least 5 per cent public shareholding at the time of their admission to dealing on stock exchange, as against no minimum requirement at present.
World Bank approves four India projects worth over $800 million
The projects support a range of developmental initiatives - strengthening India's social protection architecture, promoting nutrition-supportive agriculture for tribal households in Chhattisgarh, enhancing quality education in Nagaland and improving the safety and performance of the existing dams across various states in India.
New Development Bank to lend $1 billion for India's economic recovery from Covid-19
The loan from the NDB will support expenditures on rural infrastructure related to natural resource management (NRM) and rural employment generation under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS).
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