RBI to meet banks to examine grey areas in overseas investment rules
Can a resident individual subscribe to an ‘unregulated’ fund in Singapore? Can a local startup buy into a fintech firm abroad? Is a high-net-worth (HNI) individual barred from holding fixed deposits in an offshore bank? Will an Indian company holding a minority stake, but having no ‘control’, in a foreign company have to walk the […]
ITC may munch on Peak XV’s 47% stake in Prataap Snacks
Buyout funds KKR, TA Associates and Apax are among others that have been tapped since Peak XV initiated a plan to fully exit its nearly 13-year-old investment in Prataap and hired Deutsche Bank to sell the company. The transaction if successful will trigger an open offer for an additional 26% of the Indore-based company, which […]
Sebi set to question ZEE top brass including Subhash Chandra and Punit Goenka on ‘fund diversion’
ZEE shares tumbled 14.8% on the BSE on Wednesday to close at Rs 164.50 apiece, after Bloomberg reported Sebi had found that about $241 million (Rs 2,000 crore) might have been diverted by the company promoters. This has added to the steep decline in the ZEE share price after Sony Group scrapped a $10-billion merger […]
Indian embassies abroad to help tourism tick
The planned initiatives in these regions include organising B2B (business-to-business) activities and India evenings where key tourism stakeholders would be invited; lots of roadshows, events, and virtual and physical marketing activities; and targeted India-specific campaigns, the official said.
India brought more profits to HSBC than China in 2023
HSBC has announced that India has become its third-largest profitable region, surpassing China. This growth is primarily driven by a strong performance in its global banking and markets division, catering to large corporations and including treasury operations. In 2023, HSBC’s profit before tax in India rose by 19% to $1.51 billion, following Hong Kong and […]
Grasim’s big splash into paints may see others lose colour
But as Grasim’s entry takes the sheen off most of the incumbents, their stocks, too, could lose colour. Grasim had announced its foray in the paints business a little over 3 years ago with an initial investment of ₹5,000 crore, which it then doubled to ₹10,000 crore.
Adani Airports raises Rs 400 crore via NCDs
In a rating report dated January 29, Crisil stated that AAHL has debt obligations of Rs 1300 crore during the fiscal year 2024 and 2025, which will be met through a cash flow of Rs 1600 crore. The report also said that the company has a capex plan of Rs 8400 crore in fiscal 2024 […]
Most Fed officials flagged risks of cutting rates too quickly
The minutes of the January 30-31 Federal Open Market Committee meeting showed policymakers remain attentive to the trajectory of inflation, with some worried that progress toward the central bank’s 2% target could stall. Together, the record reinforced the Fed’s preference for more evidence that inflation is firmly on a downward path.