Monday- 4th December 2017
- Tata Communications, the telecom arm of Tata Sons which looks into enterprise, cloud and security solutions, has earmarked a capital expenditure of $20-25 million for its overall cloud business for the coming year.
- Online jewellery platform Bluestone Jewellery and Lifestyle’s losses widened to ₹96.89 crore in 2016-17 from ₹70.5 crore in the previous financial year owing to the effects of demonetisation.
- After the USFDA validated its biosimilar cancer drug Trastuzumab and approved it for the US market, the shares of Biocon hit a one-year high at ₹514, rising over 15% in response to the news.
- The Bombay HC has dismissed 63 Moons’ petition against a government order to merge its defunct subsidiary NSEL with itself in public interest. In response, the share price fell 5% to ₹131.10.
Tuesday- 5th December 2017
- Google has picked up a minority stake in hyper-local concierge and delivery player Dunzo, its first direct investment in an Indian startup. It acquired 12% stake for $12million.
- New York-based Och-Ziff Capital Management has sold its majority stake in Gurgaon-based real estate-focused research firm PropEquity, to the company’s CEO, Sameer Jasuja. The latter has bought 80% stake for an amount of $10-12 million.
- Reliance Power has been granted debt financing and partial risk guarantees totalling $583 million for former’s liquefied natural gas terminal and a 750 MW LNG power plant being set up in Bangladesh.
Wednesday- 6th December 2017
- The RBI kept interest rates unchanged, citing pressure on prices. It further bumped up inflation forecast for the rest of the fiscal year marginally.
- Infosys has made application to SEBI to resolve allegations relating to poor corporate governance before its newly appointed chief executive officer Salil Parekh takes charge.
- Alibaba is looking to invest an amount of $300m in BigBasket, to acquire more than one-third stake in the latter. This move is expected to raise the value of Bigbasket to $850m.
- RCom said that it was negotiating a settlement with CDB, one of its largest creditors, regarding their insolvency petition. However, CDB sought to club its insolvency petition against RCom with other petitions seeking the same.
- The RBI has capped debit card transaction fees as digital transactions were coming under threat from high fees after a burst of growth post demonetisation.
Thursday- 7th December 2017
- Jet Airways reported a fall of 91% in Q2 results from ₹517 crore to ₹46.01 crore on YoY basis. Sales grew only 3% to ₹5,626.61crore.
- Kotak Private Equity Group-backed Bharat Serum and Vaccines Limited are looking to raise an amount of ₹2,000 crore by offloading about 30% stake through IPO in the first quarter of FY19.
- ICICI Bank, India’s largest private sector lender, plans to raise at least $500 million by selling dollar bonds to global institutional investors. The proceeds to be used to provide dollar funding to Indian companies abroad.
Friday- 8th December 2017
- NCLT through an interim order has suspended the Unitech board for alleged mismanagement of funds and barred its directors from selling either personal or company assets. Centre to name 10 nominee directors for a government takeover of the property developer.
- For those without Aadhar card, the deadline to link PAN and Aadhar has been extended to 31st March 2018. In other cases, deadline stands at 31st December.
- The Delhi government has cancelled the licence of Max Hospital, Shalimar Bagh, a week after the hospital incorrectly declared a pair of newborn twins as dead.
- Employee Union of state-run helicopter operator Pawan Hans, comprising of more than 3,000 employees is preparing a proposal to buy the government’s 51% stake which is on the block.
- Future Supply Chain Solutions’ IPO was oversubscribed by the investors 7.5 times at its close. The IPO got bids for 5.13 crore shares against the total 68.49 lakh shares on offer. The issue was priced in the band of ₹660-664 per share.
Source: The Economic Times