Rupee hits an all-time low, Amazon India receives fresh infusion, Fortis-IHH deal approved by shareholders- Weekly Digest #69

Monday- 13th August 2018 The Indian Rupee hits a 5 year low as it fell by 1.58% against USD to reach 68.93 amidst selloff in emerging market currencies led by the collapsing Turkish lira. In the derivative trading, the rupee crossed 70 to the USD. Bain Capital Private Equity is competing with US private equity firm KKR to …

Market hits all-time high, IHH wins bid for Fortis, TCS strong Q1 results- Weekly Digest #66

Monday- 9th July 2018 The NCLT has dismissed the lawsuit filed by two Cyrus Mistry family firms against Tata Sons, stating that it did not find any merit in allegations of mismanagement at Tata Sons. The DoT has conditionally approved the merger of Vodafone India with Idea Cellular. The conditions include  an upfront payment of ₹7,268 crore. The …

Bankruptcy proceedings, TATA Group to acquire Air India, IHH withdraws from Fortis- Weekly Digest #45

Monday- 19th June 2017 Sensex closed at a record high of 31,311 points and Nifty at 9,657 points as RBI asked lenders to start bankruptcy proceedings against big defaulters. It has raised the hopes of a speedy resolution to the bad loans issue. The Income tax department has demanded all dividends due to Cairn Energy Plc from …

DMart’s Historic IPO, Reliance’s Capital Gains, Delhi HC blocks Assets Sale- Weekly Digest #38

Monday- 6th March 2017 The National Company Law Tribunal said that the Mistry family's firms aren't qualified to file a petition alleging mismanagement of Tata Sons and oppression of minority shareholders.  A shareholder needs a stake of at least 10% to file a petition in NCLT. Delhi HC told former Ranbaxy promoters Malvinder and Shivinder Singh …

Service Charge optional, PayTm’s new investment, SEBI approves BSE’s IPO- Weekly Digest #29

Monday- 2nd January 2017 Industrialists Sunil Munjal and Saroj Poddar are in talks to buy a minor stake in digital payments platform, Paytm. Sunil Munjal is the chairman of Hero Corporate Services and Saroj Poddar is the chairman of fertiliser and engineering services conglomerate Adventz Group. Anshu Jain, the former coCEO of Deutsche Bank has joined the New York-based …

Tata’s Battle continues, PayTm duped, Cashback on fuel- Weekly Digest #26

Monday- 12th December 2016 Malvinder and Shivinder Singh are in negotiations with private equity group TPG Capital to sell a 26% share in Fortis Healthcare, the country's second-largest private hospital chain. The current market cap of Fortis Healthcare is  INR 7,909 crore. Tata Industries removed Cyrus Mistry as director after a shareholder's meeting. This is expected to …