Prime Minister Narendra Modi said the government will announce a large economic package and bold reforms to make India self-reliant and emerge from the setback of Covid-19 disruption. Rs 20 Lakh Crore Economic Package The total package, including fresh measures and the earlier steps announced by the finance minister and the Reserve Bank of India, …

20 Lakh Crore Worth of Economic Package to be Infused for a Self-Reliant India Read More »

Global brokerage house Morgan Stanley feels five stocks – Tata Consumer Products, Indraprastha Gas, Torrent Pharmaceuticals, Biocon and Muthoot Finance – are likely to be included in the MSCI India Index with effect from June 1, 2020. From the list of these 5 stocks, Tata Consumer Products stands higher chance of inclusion, said the investment …

Tata Consumer Products, IGL, Torrent Pharma, Biocon, Muthoot Finance Likely Candidates for MSCI Index Read More »

Several meetings between Apple’s senior executives and top ranking government officials over the last few months have paved the way for the iPhone maker examining the possibility of shifting nearly a fifth of its production capacity from China to India and scaling up its local manufacturing revenues, through its contract manufacturers, to around $40 billion …

Is Apple Set for a Bigger Bite in India? Read More »

Private equity firm Vista Equity Partners will invest Rs11,367 crore in Jio Platforms for a 2.32% stake, the third deal after Facebook and Silver Lake’s share acquisition plans over the last two weeks. “This investment values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh …

Jio on Fire: Makes its Third Big Deal in Two Weeks Read More »

Future Group Reaches Out to True North, Hero FinCopr, Kotak Mahindra Bank to Sell Out Stake in General Insurance JV Retail billionaire Kishore Biyani-backed Future Group, which is saddled with high promoter level debt, has launched preliminary talks with a clutch of strategic and private equity investors to sell its stake in its general insurance …

Hero FinCorp in Race to Buy Stake in General Insurance JV Read More »

SIDBI is set to launch an all-encompassing digital platform for MSMEs andSmall Industries Development Bank of India (SIDBI) on Tuesday said that it will be launching an all-encompassing digital platform for MSMEs and other stakeholders of the small business ecosystem to help them grow in the post Covid world. India SME Services Platform — the …

SIDBI Comes to the Aid of MSMEs, Set to Launch An All-Encompassing Digital Platform Read More »

The Reserve Bank of India on Monday met with representatives of non-banking financial companies (NBFCs) and Micro Finance Institutions (MFIs) to discuss various issues concerning the sector. The self-regulated umbrella body for the NBFCs, Finance Industry Development Council (FIDC), has released a note on the key highlights of the meeting with the RBI. Here’s a …

NBFCs, MFIs Meeting with RBI, Efforts at Resolving Issues that have Hit the Sector Read More »

American private equity giant Silver Lake Partners has bought 1 percent of Jio Platforms for Rs 5,655.75 crore ($750 million) in a deal that takes Jio’s enterprise value to Rs 5.15 lakh crore — a 12.5 premium to the value indicated by Facebook, which bought 9.99 percent of the digital unit of RIL. The deal comes …

America’s PE Giant Silver Lake Buys 1% of Jio Platforms Read More »

Reliance Retail’s earnings before interest, tax, depreciation and amortisation (Ebitda) for FY20 grew 55.7% to Rs 9,654 crore. Reliance Retail’s revenues increased 24.8% year-on-year (y-o-y) to Rs 1.63 lakh crore for the full financial year 2020. Revenue during the quarter grew 4.2% y-o-y despite lockdown-related disruptions in March. Earnings before interest and tax (Ebit) of …

Reliance Retail Shows Promising Revenue Growth in Q4 Despite COVID-19 Lockdown Read More »

The COVID-19 lockdown will continue mainly in the country’s hotspots beyond May 3 when the extended period of the restrictions end but “many” districts will get “considerable relaxations”. The clear indications about districts that have managed to tackle COVID-19 considerably well getting relaxations came after a review meeting held by the Ministry of Home Affairs …

India to Expect Lockdown Relaxation in Several Districts from May 4 Read More »