Paytm is obtaining stakeholders’ approval to liquidate nearly Rs. 120 billion in new stock. If the Indian digital-first payments firm gets the nod from shareholders, this could turn into South Asia’s biggest IPO to date, worth a whopping $1.6 billion. This firm has the backing of Japan’s SoftBank (18.73%), Elevation Capital (17.65%), and China’s Alibaba …
The Securities Appellate Tribunal (SAT) set aside SEBI’s directions pertaining to the voting rights of PNB Housing’s stakeholders this Monday. This regulatory body allowed PNB Housing Finance to move ahead with its extraordinary shareholder’s meeting, which is scheduled for Tuesday. The topic of discussion for this said meeting is regarding the proposal of Rs. 4,000 …
On June 21, India’s largest car manufacturing company, Maruti Suzuki, announced increasing its vehicle prices, prompted by a surge in various input costs. This is the fourth time the Gurugram-based company has undertaken a hike this year. The first Maruti Suzuki price hike was announced in January, whereas the other two were revealed in April. The …
As the global economy recovers from the impact of the pandemic, demand for crude oil is set to rise. Wall Street believes that the rally in prices has enough potential to move up in the near future. Francisco Blanch, the commodities strategist of Bank of America, stated in a research note that oil might hit …
Capital markets regulator SEBI is considering a proposal to allow foreign portfolio investors or FPIs to trade commodity futures that have been listed on the exchanges. The regulator met top commodity trading firms with an international standing and FPIs in other markets and bourses to seek opinions on the subject. Foreign companies are not allowed …
On Friday, June 18, gold prices climbed, imitating gains in international markets as investors made the most of buy-the-dip opportunities. As a result, gold futures on the Multi Commodity Exchange surged 1% to Rs. 47,387 per 10 grams. On the other hand, silver futures surged to Rs. 68,440 per kilogram, representing a 1.24% increase. In …
On June 14, Monday, the NSDL website showed three FPI accounts related to Adani enterprises on the frozen account list. Entailing its publication in major news portals, Adani Group’s market capitalisation fell by almost $15 billion. These three Mauritius-based funds together held shares worth around Rs. 43,500 crores in four Adani group companies and are …
The Department of Promotion of Industry and Internal Trade (DPIIT) has indicated the government’s decision to increase Foreign Direct Investment (FDI) threshold in the Indian insurance sector to 75% from 49% (2015). This statement was a result of poor density and penetration in the country’s indisposed insurance sector. What led to this announcement? According to …
As per recent reports, Wipro – the Indian IT giant has partnered with Germany-based Aachen, an FEV firm. This partnership aims to develop software-driven vehicles. In their recent regulatory filing to the stock exchanges, Wipro stated that they have jointly set up an innovation lab. It will develop different scalable software, electronic/electrical architecture for vehicles, …
The Rupee crashed by 76 paise, yet again against the American Dollar on June 17 2021, Thursday. The Indian currency now settles at 74.08 amongst a much stronger US currency after the US Fed reserve signalled an interest rate hike, which was earlier than expected. INR depreciated for the eighth session in a row. Meanwhile, …
