CATEGORIES

Aditya Birla to sell stake in renewables business

StanChart hired to sell up to 49% stake for around $400 mn

Gangwal's wife to sell IndiGo stake for $350 mn

Shobha Gangwal, wife of IndiGo co-founder Rakesh Gangwal, is set to sell a 4% stake in India's largest airline, worth $353 million, through a block deal scheduled for Thursday, according to deal terms reviewed by Mint.

Adani Crisis Unlikely To Hit Conglomerates

The dramatic fall in the Adani Group's shares following allegations by Hindenburg Research is unlikely to spill over to other Indian conglomerates as they fare well on key business parameters, according to Bloomberg Economics.

Nikki Haley To Run For President, Challenging Donald Trump

Nikki Haley, the former South Carolina governor and United Nations ambassador, announced her candidacy for president on Tuesday, becoming the first major challenger to former President Donald Trump for the 2024 Republican nomination.

Krishi Udan scheme a 'huge success'

Civil Aviation Minister Jyotiraditya Scindia on Tuesday said the Krishi Udan scheme has been a huge success and the central government is planning to include another 21 airports under this.

Sitharaman reviews MCA21 glitches

A mid stakeholders facing glitches in submitting forms under the companies law through the MCA21 portal, Union minister Nirmala Sitharaman on Tuesday asked the corporate affairs ministry to form a special team to address public grievances on a priority basis.

'India is Blackstone's 2nd biggest market outside US, holds strong fundamentals'

Global private equity major Blackstone, which has a portfolio of $50 billion in India, sees the Indian economy continuing to grow faster than the rest of the world and plans to double down on its investments in the country, already its second-biggest market outside the US, said Jonathan Gray, president and chief operating officer of Blackstone.

Smaller orders to hold the fort for Thermax as large ones wane

Capital goods company Thermax Ltd expects large-ticket orders to moderate, the management said in its December quarter (Q3FY23) earnings call.

Centre plans buybacks, OFS in PSUs for FY23 goal

The government is looking at buybacks and offer-for-sale (OFS) of central public sector enterprises as potential options to meet the current year's disinvestment target as uncertain market conditions and legal hurdles pose challenges to ongoing privatization transactions.

Adani says group to moderate debt, pursue expansion

Adani Group chairman Gautam Adani has referred to the current sell-off in Adani stocks as temporary, emphasizing that the conglomerate's flagship will now \"moderate leverage\" even as it pursues growth.

Boeing sees demand for 2,200 jets in India

As Air India placed a record order of about 540 aircraft with Boeing and Airbus on the same day, the American aircraft maker has estimated that India will require approximately 2,210 new planes over the next two decades, of which 1,983 units or 90% of deliveries will be for single-aisle jets, while 227 units or 10% of new aircraft deliveries will be for widebody aeroplanes, Boeing India president Salil Gupte said in an interview.

Al buys 540 planes, in biggest ever deal

The purchase is estimated to cost Air India a whopping $82 bn

Nykaa net profit in Q3 plunges 71% on higher investments

Beauty and personal care retailer Nykaa's consolidated net profit fell by over 71% with investments on lease rentals for warehouses, stores and office space ate into its margins. It reported a profit of ₹8.5 crore in the December quarter against ₹29 crore in a year ago, according to its filing with the exchanges.

'AI, IndiGo can turn Indian airports into international hubs'

Tata Sons owned Air India and IndiGo could help India become a global airport hub, said Hari Marar, managing director and chief executive, Bangalore International Airport Ltd (BIAL).

Govt report suggests regulating OTT platforms for tobacco ads

The health ministry proposes to include video streaming platforms under the Cigarettes and Other Tobacco Products Act (COTPA), 2003, to ensure they carry public health warnings related to smoking and alcohol use, similar to those shown on TV programmes and movies.

Slew of IPOs in Q3; more offers on way

Initial public offering (IPO) momentum in India picked up in the last quarter in comparison to the world, with the domestic market witnessing the highest number of deals in three months ended December 2022.

Kotak Mahindra Bank may sell minority stake in insurance biz

Kotak Mahindra Bank Ltd., backed by billionaire Uday Kotak, is considering selling a minority stake in its general insurance unit, according to people familiar with the matter.

Dish TV investors press govt for action pleas to summon EGM go unheard

Minority investors of Dish TV have written to finance minister Nirmala Sitharaman seeking regulatory action against the company for ignoring the investors' request several times to call an extraordinary general meeting.

Govt OK with expert panel on regulations

The Centre has no objection to a proposal for setting up a panel of domain experts to look into strengthening the regulatory mechanisms for the stock market, the Supreme Court was told on Monday while it was hearing pleas relating to the Adani stocks rout after the Hindenburg report.

SC directs SpiceJet to pay ₹270 cr to Maran

The Supreme Court on Monday directed SpiceJet Ltd to fulfil its obligation to pay ₹270 crore to its former promoter Kalanithi Maran following an arbitral award of ₹578 crore related to a shareholder dispute between the two parties.

Inflation breaches RBI tolerance level on high food prices

Retail inflation in January accelerated to the fastest in three months, exceeding the Reserve Bank of India's upper tolerance band of 6%, defying hopes that price pressures would decelerate.

Adani crisis costs investors ₹10 tn

Aftershocks from the Hindenburg have knocked out over report A 10 trillion of Adani A Group's market value since its publication late January, with shares of the infrastructure to edible oils conglomerate losing ₹51,610 crore on Monday alone.

Hindenburg Effect: What It Means For Nifty Next 50 And Its Investors

Nifty Next 50 Index had 14% weight in Adani group stocks, which nosedived after a report by Hindenburg

RBI Fears Inflation Letter May Rock Mkt

‘May unmoor inflation expectations, hit policy transmission’

What if were all wrong about the future of US interest rates?

They could defy a natural’ decline assumed by ageing-US’ theorists

Our J&K find could put India on the lithium map

An inferred stash of 5.9 million tonnes would be 5.5% of the world’s identified reservoirs of a key metal used in EV batteries. If confirmed, it could spell self-sufficiency in a buzzy arena

Turkey-Syria quake deaths pass 33,000

The United Nations has warned that the death figures are likely to double

HAL gears up for Aero India show

Hindustan Aeronautics Ltd will H display for the first time the scale model of Hindustan Lead in Fighter Trainer HLFT-4-2), at the Aero India to be held here from Monday.

246-km stretch of Delhi-Mum Expressway opens for traffic

When completed, expressway will cut Del-Mum travel time by 50% from current 24 hrs

John Distilleries plans to double whisky output, expand other liquor segments

John Distilleries Pvt. Ltd, an Indian alcobev company that makes the Paul John brand of single malts, is looking to expand its vodka, gin, rum, and wine portfolio across price segments, besides doubling whisky production, chairman Paul P. John said.