BUSINESS
Morgan Stanley classifies RIL as top pick, new capex to double earnings
In its latest report Morgan Stanley said RIL's fourth investment cycle this century with capex in chemicals, 5G, retail and new energy totalling over $50 billion over the next three years will double its earnings. Further RIL's capex will increase investor confidence on the $70 billion value creation pivot in the energy business, Morgan Stanley said while moving RIL's scrip to its top pick category.
SBI to raise up to Rs 7,000 crore via Basel-III AT1 bonds
Bidding for the bonds will take place on Wednesday between 11 a.m. and 12 p.m. Non convertible Taxable Perpetual Subordinated Unsecured Basel III compliant Additional Tier 1 Bonds in the nature of debentures of face value Rs 1 Crore each. AT1 Bonds are a type of perpetual bonds that don't have any expiry date which is issued to raise long term capital.
CARE Ratings places NDTV's bank facilities on 'credit watch', shares gallop
Meanwhile, credit rating agency CARE Ratings has placed ratings assigned to NDTV's bank facilities on credit watch with developing implications following takeover decision by the Adani group. NDTV, which had postponed its 34th annual general meeting (AGM)to September 27 from the earlier fixed date of September 20, said it has completed the dispatch of notice for the shareholders meeting on September 3, 2022.
Who were the other passengers in the ill-fated Mistry crash?
Former Tata Sons chairman Cyrus Mistry on Sunday died in a road accident while he was returning from Gujarat's Udwada to Mumbai. The three other occupants in the car were -- brothers Darius and Jehangir Pandole, and Darius Pandole's wife Anahita Pandole. Darius Pandole was CEO & MD of JM Financial Private Equity and earlier was on the board of Tata companies.
Cyrus Mistry's sudden death puts spotlight on SP group's holding in Tata Sons
There were media reports in March this year that SP group was taking a Rs 15,000 crore loan against the holding in Tata Sons. SP Group had talked about separation two years back in September 2020 before the Supreme Court. The largest shareholder in the Tata Group, SP Group had said before the Supreme Court Tuesday that a separation from the Tatas is necessary.
Cyrus Mistry's body to undergo autopsy in Mumbai, Pundoles critical but stable
According to the hospital medicos, Dr Anahita Pundole is suffering from pneumothorax and hip fracture, but her blood pressure is maintained and she is under observation. Her husband Darius Pundole has suffered bilateral jaw fractures with a displaced jaw causing airways obstruction. A surgeon has pulled out the jaw with with wire fixation and cleared the airway clear and he is also stable. The injured couple is being handled by a team comprising Dr Nita Warty, Dr Karl Vazifdar, Dr Mehli Nazir and others.
India's external debt of $620bn is sustainable: Finance Ministry report
In a recent report, the Department of Economic Affairs said the country's external debt continues to be sustainable and prudently managed. "As at end-March 2022, it stood at $620.7 billion, growing by 8.2 per cent over the level a year ago. External debt as a ratio to GDP (gross domestic product) was 19.9 per cent, while reserves to external debt ratio was 97.8 per cent," the report said.
Cyrus Mistry, the young tycoon who rose to Tata Group Chairman but fell from grace
Mistry, who was the sixth Chairman of Tata Sons, succeeding Ratan Tata, was unceremoniously removed from the position in October 2016, over disagreements over running the conglomerate. He was the younger son of Pallonji Mistry, head of the Shapoorji Pallonji Group, a diversified conglomerate which had begun as a construction company started by Pallonji Mistry's grandfather in the 19th century.
Reliance Retail begins appointing super-stockists to distribute its private label products in multiple FMCG categories
Reliance Retail already has a wide range of private labels across several entry-level food and non-food FMCG categories and will likely acquire more brands. "We believe own FMCG sales can add a margin layer to the overall Jiomart business", the report said. In its AGM held on August 29, 2022, Reliance Retail announced its foray into the FMCG business, by developing and delivering high quality products at affordable pricing.
Industrialist Cyrus Mistry killed in road crash at Maharashtra's Palghar
According to officials, Mistry, who heads the Shapoorji Pallonji Group, was traveling from Ahmedabad to Mumbai when his car hit a road divider near Charoti. There were four people in the car out of which two, including Mistry, succumbed to injuries in the road crash which left the vehicle badly damaged. The other two injured, whose identity was not clear, have been admitted to a local hospital in Kasa.
Don't Miss
Advertisement