BUSINESS
Crocin, ENO, Iodex ownership changes as CCI approves acquisition
The proposed combination involves collective acquisition of 100 per cent shares of the GlaxoSmithKline Asia Private Ltd, which will acquire the trademarks pertaining to "Iodex" and "Ostocalcium" brands in India alongwith the legal, economic, commercial and marketing rights of such brands and other associated assets (GSK Consumer Brands) from GlaxoSmithKline Pharmaceuticals Ltd.
Bloodbath in Zomato, PolicyBazaar, Nykaa shares on low valuations, broader market crash
Zomato, PolicyBazaar, and Nykaa and several other companies' stocks took a hard beating on Monday amid the market crash as analysts feel these companies have low valuations. Shares of the food delivery aggregator hit the 20 per cent lower circuit intraday and settled at Rs 90.95 on Monday.
India's engineering goods exports see 54% growth
Exports of engineering goods jumped to $81.8 billion during April-December 2021 (Provisional) as compared to $52.9 billion during the same period in the previous year (2020), registering a stupendous growth of 54 per cent. Engineering goods sector constituted the largest -- over 27 per cent -- share of India's total exports basket during the period. In December 2021, exports of engineering goods touched $9.79 billion, registering a growth of 38.41 per cent over $7.07 bn logged in December 2020.
Air India divestment set to take place on Thursday
In a communication to the airlines employees, a senior company official wrote: "The disinvestment of Air India is now decided to be on January 27, 2022. "The closing balance sheet as on January 20 has to be provided today, i.e., January 24, so that it can be reviewed by Tatas and any changes can be effected on Wednesday." The communication, which was reviewed by IANS, was sent to the employees by Director of Finance, Vinod Hejmadi.
Global Woes: Over Rs 3k cr FIIs' fund outflow plunge Indian equities
Besides, high oil prices, upcoming budget and lacklustre quarterly results added to the volatility in the market. Though triggered on different counts, some analysts compared the day's fall to the 'Black Monday' crash in the US that took place in 1987. As per data, FIIs sold Rs 3,751.58 crore on BSE, NSE and MSEI in the capital market segment.
PTC India, subsidiary's shares fall further as SEBI disallows immediate Board meet
The allegations were raised by the independent directors against its financial lending unit -- PTC India Financial Services. PTC India Financial Services, a subsidiary of PTC India, is registered with the RBI as a non-banking financial company (NBFC). On Monday, PTC India settled 5.3 per cent down at Rs 89.40, whereas PTC India Financial Services fell 9.1 per cent to Rs 18.10.
India's recovery in petroleum product demand to continue: Fitch
The recovery, it said, should support higher throughput at most rated oil marketing companies. "We expect strong prices to improve the financial profiles of upstream oil and gas companies," the ratings agency said. "We forecast capex to stay high as oil marketing companies expand their refining capacity and retail networks, and upstream companies enhance production."
Reliance vs DMRC: SC says where is question of negotiation, compelling for a compromise
A bench comprising Justices L. Nageswara Rao and B.R. Gavai asked the DMRC and the DAMEPL to appear before Delhi High Court on January 31 and request it for hearing the dispute relating to execution of the over Rs 7,000 crore arbitral award in favour of DAMEPL at the earliest. Senior advocate Mukul Rohatgi, representing DAMEPL, submitted that there is no defence after the top court has upheld the order. He said: "Let them deposit the money.
Swiggy raises $700 mn, becomes 5th Indian decacron
Before Swiggy, India has seen four 'decacorns' to date -- Flipkart, Paytm, Byju's and OYO. With this funding, Swiggy also surpassed the valuation of its closest rival Zomato that saw its stock hammered and closing at Rs 90.95 on Monday, shrinking its market cap to below $10 billion. In the last few months, Swiggy has expanded Instamart to 19 cities, as grocery delivery becomes the next big thing in the country.
Vodafone Idea shares down over 6% on widening net losses in Q3FY22
The company's net losses widened year on year to Rs 7,230 crore during the Q3FY22. In the same quarter last fiscal, it was Rs 4,532 crore. In Q2FY22, it was Rs 7,132 crore.
Don't Miss
Advertisement