BUSINESS
ITC's demerger move a way to ring fence against hostile takeovers
Recently, the ITC Board announced its approval to demerge its hotels' business into a separate company called ITC Hotels Ltd. As per the de-merger scheme, ITC will hold 40 per cent stake in ITC Hotels while the remaining 60 per cent will be held by other shareholders.
Is 40% stake in ITC Hotels Ltd a downer or a boost for ITC scrip?
With 40 per cent stake in ITC Hotels Ltd – the hotel company, ITC is expected to fund a sizable amount of the capex needed for the hotel business, analysts said.
Why markets don't favour much-anticipated demerger of ITC's hotel biz
“Although the demerger was eagerly anticipated in the market, one concern is that ITC will still retain a 40 per cent stake in the new company (ITC Hotels Ltd)," Narendra Solanki, Head Fundamental Research - Investment Services, Anand Rathi Shares and Stock Brokers, said.
US investors optimistic of a soft landing, Europe exits recession
The Dow slipped on Thursday, snapping a 13-day winning streak. The blue-chip index fell 237 points after being on track to close higher for a 14th consecutive session. That would have marked the Dow’s longest run of consecutive gains since May 1897, CNN reported.
Bull run indicates confidence of markets in India's growth trajectory
With the Lok Sabha elections scheduled for 2024, the general sentiment is that India is likely to be among the few emerging markets globally, which may continue to hit an all-time high in the long run in terms of economic growth.
A breach in crucial supports could mean end of Nifty's 17-week rally
Vinod Nair, Head of Research at Geojit Financial Services said the domestic market passed through a volatile week, with the benchmark index underperforming its broader peers.
Sequoia Capital cuts its crypto fund by over 65% in funding winter
Sequoia Capital has downsized its two major venture funds, including the crypto fund (from $585 million to $200 million), reports the Wall Street Journal.
German economy stagnates after short recession
At the same time, the official figures for the previous two quarters were corrected upwards, Xinhua news agency quoted Destatis as saying on Friday. Instead of shrinking by 0.5 per cent and 0.3 per cent respectively, the German economy contracted by 0.4 per cent in the final quarter of 2022 and 0.1 per cent in the first quarter of this year.
AMD to invest $400mn to expand research, development operations in India
The planned investment includes a new AMD campus in Bangalore that will serve as the company's largest design centre, as well as the addition of approximately 3,000 new engineering roles by the end of 2028.
Resolution Plan under IBC binding on all creditors including I-T Dept: Welspun Corp
Welspun Corp has said that the liabilities of an entity emerging from CIRP (corporate insolvency resolution process) under a resolution plan approved by the NCLT (National Company Law Tribunal) including liabilities relating to a prior period, stand extinguished and therefore SBAPL will not be liable for such liabilities.
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