The global beverage giant Coco-Cola’s market value dipped by $4 billion after the Portuguese footballer Cristiano Ronaldo pulled a stunt at a press conference in Budapest this Monday. The football star, widely acknowledged as a health enthusiast, created a stir during the Portugal and Hungary pre-match press conference involving two Coco-Cola bottles. In a turn …
The talks of the re-entry of Softbank in Walmart-owned Flipkart have stirred up curiosity among investors. Especially when the Indian retail giant was all set to change its status from a Pvt Ltd. to a Public Company by the fourth quarter of 2021. So, why is Softbank so keen on investing in Flipkart after it …
India’s Wholesale Price Index (WPI) data for May showed that WPI based inflation rose to a record peak of 12.94 per cent, on the back of rising commodity and fuel prices, apart from the effect of low base. This also meant that the Consumer Price Index (CPI) retail inflation shot up in May, recording 6.30 …
An Overview of RBI’s Plans As the central bank seeks to accommodate roles for entities other than traditional banks and non-banking finance businesses, India’s booming digital banking ecosystem may eventually fall under a more defined regulatory and supervisory authority. The Reserve Bank of India (RBI) has formed an internal committee to investigate the breadth of …
Capital markets regulator SEBI plans to create a separate framework for Special Purpose Acquisition Companies (SPAC) to let them raise funds via initial public offerings (IPOs) and get listed. As per current norms, only operating companies are allowed to be listed. Currently, for public listing, a company needs to have assets of at least Rs …
An Overview of FPIs Comeback The country is witnessing net inflows of foreign portfolio investment (FPI) due to strong fundamentals, a positive policy environment, and a faster-than-expected economic recovery. In April, FPIs became net sellers, but the tide has since flipped again. As risk-on attitude improved with diminishing pandemic cases and anticipation of an early …
Global IT giant Accenture acquired Umlaut, an engineering consulting firm based in Aachen, Germany, on 14 June 2021. According to an official statement, this acquisition will help Accenture boost its deep engineering abilities so companies can use various digital technologies like artificial intelligence, cloud, 5G, et al. The financial specifics of this acquisition are yet …
On June 14, SBI Mutual Fund acquired a 1.16% stake in V-Guard Industries, the largest electrical appliances manufacturer in Kerala, at Rs.265 per share. As of March 2021, SBI Small Cap Fund owned 3.35% shares of V-Guard. Chittilappilly Thomas Kochuouseph, whose holdings included an 11.72% stake in the company, sold about 50 lakh shares at …
Securities and Exchange Board of India (SEBI) enforced a penalty of Rs. 15 crores on 9 entities associated with Franklin Templeton Mutual Funds. They include Franklin Templeton Trustee Services, fund managers, and senior officials associated with the 6 debt schemes that were unexpectedly wound up last year because of breaching SEBI rules. A closer look …
Per data shared by the Government of India, India’s export sector witnessed a jump of 69.35% at $32.7 billion in May. However, the country’s trade deficit stands at $6.28 billion. The report further stated that the surge in exports was driven by the robust growth in petroleum products, gems, jewellery, and engineering sectors. Last year …
