BUSINESS
India records 199 M&A deals worth $3.5 bn in Nov, up 34% YoY
In November, total M&A transactions stood at $436 million with a total 50 deals, while PE funds inflow in Indian companies stood at $3.1 billion across 149 deals. "The absence of big-ticket transactions, partly due to non-disclosure of deal values in the majority of M&A transactions could be the reason for lower deal values. Deal activity continued to be primarily in the technology sector including start-up and e-commerce sectors," said Shanthi Vijetha.
India's Nov retail inflation sequentially inches up to 4.91%
Data furnished by the National Statistical Office showed that Consumer Price Index (CPI) inched-up to 4.91 per cent last month from 4.48 per cent in October 2021. However, on YoY basis, the rise in last month's retail inflation was lower than the 6.93 per cent rise recorded for November 2020. Despite the rise, retail inflation remained well within the range of the Reserve Bank of India's set target of 2-6 per cent.
Bankrupt Sintex Industries' stocks double after RIL bid
As per reports, Reliance Industries, ARES Capital-backed Assets Care and Reconstruction Enterprises, Welspun Group company Easygo Textiles, Trident, Himatsingka Ventures and GHFC have shown interest in Sintex Industries. The company's shares have doubled in the past one month, rising 172 per cent so far in 2021, exchange data showed.
Sensex drops to 58,283 points, Nifty witnesses fall under 17,400
The markets had opened on a positive note as the S&P BSE Sensex traded at 59,151. The markets closed with Sensex recording a drop of 503 points dragged by realty, oil & gas, PSU banks. The Sensex settled at 58,283 points registering a drop of 0.86 per cent and Nifty settled at 17,368 points registering a drop of 0.82 per cent from their previous closing points.
Franklin Templeton unit holders to receive another tranche of Rs 983 crore
According to a Franklin Templeton spokesperson, the payment to all investors whose accounts are KYC compliant with all details available will commence from 14 December 2021. So far, the total payout is worth Rs 25,114.39 crore.
Brakes on power sector reforms after agreement between farmers, govt
This will put brakes on the power sector reforms and the power distribution reforms will get delayed. The one year and 15 day-long agitation by the farmers at Delhi's borders was called off after the Centre agreed to their major demands. The protests were called off after the Centre gave a letter to the farmer bodies agreeing to meet their demands. The letter was signed by Sanjay Agarwal, Secretary to the Union Ministry of Agriculture and Farmers' Welfare.
Safeguarding depositors' money key to banks' prosperity: PM
"Banks play a big role in the prosperity of the country. And for the prosperity of the banks, it is equally important that the depositors' money is safe. If we want to save banks, then depositors have to be protected," Modi said at an event here themed 'Depositors First: Guaranteed Time-bound Deposit Insurance Payment up to Rs 5 lakh'. During the event, Modi handed over cheques to a few depositors whose hard-earned money was stuck because of some banks going bankrupt.
Diesel, petrol prices steady on Sunday
Accordingly, diesel and petrol prices in Delhi stood at Rs 86.67 per litre and Rs 95.41 per litre, respectively. In the financial capital Mumbai, the prices were unchanged at Rs 94.14 and Rs 109.98. Prices also remained static in Kolkata at Rs 89.79 and Rs 104.67.
82 unicorns, $39bn funding & counting: Indian startups come of age
The global pandemic resulted in a digital transformation and adoption of technology at a societal level. Moreover, tech sector regulatory changes/crackdowns in China, availability of large pools of private capital were all positive factors for the Indian startup ecosystem to grow and produce a record 40 unicorns in 2021 alone. Today, India has 82 unicorns with a total funding of over $38.4 billion (from 2014 till December 4, 2021), according to data provided by leading startups publication Inc42.
Hope to introduce drone delivery services soon: SpiceJet
Accordingly, the airline plans to introduce 'SpiceXpress' drone delivery service to strategically expand its logistics platform while building a unique supply chain competence. It plans to introduce customised drones of different payloads including 0-5 kg, 5-10 kg and 10-25 kg which have the potential to change supply chain capabilities thereby making it more resilient and sustainable.
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