Adani Enterprises will fully exit its 44% stake in Adani Wilmar through a $2 billion multi-phase deal to focus on infrastructure. The first phase involves selling up to 31.06% to Wilmar International’s subsidiary, Lence Pte Ltd, via a call/put option. An additional 13% will be divested to meet public shareholding norms. Adani Wilmar will rebrand […]
Hinduja Group firm plans to acquire RCAP by January and grow its financial services business to $50 billion in five years.
Hinduja Group’s IndusInd International Holdings Ltd (IIHL) expects to finalize its acquisition of debt-laden Reliance Capital (RCAP) by the end of January 2024. IIHL, which won the bid for Rs 9,650 crore, aims to triple its banking, financial services, and insurance (BFSI) business to $50 billion by 2030. The company has also committed an additional […]
Adani wipeout impacts, but won’t shake foreign investor confidence in India.
Global investors believe that while the bribery charges against the Adani Group may temporarily impact sentiment in India, they won’t affect the country’s long-term investment outlook. Allegations from the U.S., denied by Adani, accuse the conglomerate of paying bribes and misleading disclosures, causing a dip in the group’s stock and bond values. Despite concerns over […]
Gautam Adani suffers a ₹2.45 lakh crore loss in hours.
Adani Group stocks plunged on Thursday, wiping out ₹2.45 lakh crore in market value after US prosecutors alleged Gautam Adani was involved in a $250 million bribery scheme for solar power contracts. Key stocks, including Adani Enterprises, Adani Ports, and Adani Energy Solutions, saw declines of 20-23%. Other group companies like Adani Green Energy, Adani […]
Mukesh Ambani shakes up the market with Reliance-Disney+HotStar plans starting at Rs…
R Mukesh Ambani’s Reliance Group has introduced new subscription plans for Reliance-Disney+Hotstar after the merger. Starting at Rs 57, the plans offer a range of options to suit various user preferences. The plans, “Star Premium” and “Star Value,” are available in multiple languages, including Hindi, Malayalam, Tamil, Telugu, Kannada, Bengali, Marathi, and Gujarati. The Star […]
Zomato partners with NSE to conduct financial literacy workshops for food delivery partners.
Deepinder Goyal-led Zomato has partnered with the National Stock Exchange of India (NSE India) to promote financial literacy among its food delivery partners. As part of the partnership, Both NSE and Zomato will host financial literacy workshops pan-India to educate the delivery partner community on nuances of personal finance management. The move comes after recent […]