Asian share markets firmed on Monday as the Nikkei reached another new high and investors braced for a week packed with central bank events and major data that will refine market wagers for when interest rates will start falling. All eyes will be on Federal Reserve Chair Jerome Powell when he testifies before lawmakers on … Read more
Private equity major, Advent in December 2022 had taken a majority control in Suven Pharmaceuticals (SP). At that time, Advent had disclosed in the filings that it intends to explore the merger of it’s umbrella CDMO entity, Cohance Lifesciences into SP and hence create an integrated, larger and listed franchise with the associated benefits. Now, … Read more
After months of speculation, the mega merger has been officially announced. Key points to note – Reliance Industries (RIL), Viacom 18 Media Private Ltd, and The Walt Disney Company (Disney) have signed binding definitive agreements to form a joint venture (JV) which will combine the businesses of Viacom18 and Star India. Viacom 18 is majorly … Read more
The Board has approved a new fund raising plan of Rs 45,000 cr. Rs 20,000 cr will be through a mix of equity and equity linked instruments. Balance Rs 25,000 cr will be through debt. Promoters will also participate in the proposed equity raise. No further details are provided for now. The company will complete … Read more
\RBI has penalised three major lenders – SBI, Canara Bank, and City Union Bank – for violating RBI norms. These fines come after an inspection of their books as of March 2022. SBI has been fined Rs 2 crore for holding shares exceeding 30% of certain companies’ paid-up share capital, violating RBI regulations, and for … Read more
Private equity major, Advent has sold 10% stake of Eureka Forbes (EFL). Advent had acquired Eureka Forbes from Shapoorji Group in September 2021 through a SPV, Lunolux Limited. Before this sale, Lunolux held 72.56% of EFL. 10% stake has been sold at an average price of Rs 506.06/ share totalling Rs 979 cr. Previous day’s … Read more
Temporary food shocks, fiscal consolidation and high real interest rates have created the scope for reduction in policy interest rates, said external members of the Monetary Policy Committee, but those from the Reserve Bank of India (RBI) believe that the markets are running ahead of policy makers. Prof. J.R. Varma, who voted for a reduction … Read more