Institutional promoters reduce stake in Aptus

Westbridge sold off 4.96% stake reducing it’s stake to 29.5% in the Company JIH II LLC sold it’s entire 2.03% stake Shares were sold at around Rs 294/ share Total promoters’ stake now stand reduced to 54.1% from 61.1% earlier Buyers included SBI MF and Luxembourg-based Eastbridge Group amongst others. Whether it’s a cause of … Read more

Rate easing may have to wait, highlights RBI in its latest bulletin

Easing of rates by the Reserve Bank of India might still have to wait going by the hawkish tone in an assessment of the economy published by the RBI economists in its latest monthly bulletin. “A modest easing of headline inflation in the reading for April 2024 confirms the expectation that an uneven and lagged … Read more

Centre may get around ₹1 lakh crore in RBI dividend

Recent actions by the Reserve Bank of India (RBI) suggest that it may transfer a higher dividend – possibly in the region of ₹1 lakh crore – to the government than last year, giving a potential boost to New Delhi’s finances. Last week, the RBI announced a steep cut in the government’s borrowing through Treasury … Read more

India GDP forecast: UN revises India’s 2024 growth forecast to 6.9%

A strong domestic economy will push India’s growth to 6.9% in 2024 from 6.2% projected earlier, the United Nations said in its latest World Economic Situation and Prospects report’s mid-year update. “India’s economy is forecast to expand by 6.9 per cent in 2024 and 6.6 per cent in 2025,29 mainly driven by strong public investment … Read more

Reliance to bring UK’s ASOS to India

Reliance Retail has partnered with ASOS to build it’s online and offline presence in India. Founded in 2000 by Nicholas Jon Robertson and Quentin John Griffiths, ASOS is headquartered in London. In 2022, it acquired British fashion retailers Topshop and Miss Selfridge. Partnership with Reliance is via a long-term exclusive licensing agreement. Reliance will introduce … Read more

Siemens India decides to demerge energy business

The Board of Directors of Siemens Limited (SL) approved the proposal to demerge it’s Energy Business into a separate legal entity – Siemens Energy India Limited (SEIL), currently a wholly owned subsidiary of SL. SL’s focus will continue to be on Industry, Infrastructure and Mobility. SEIL will provide solutions across the entire energy value chain … Read more