Mallya’s assets under dispute, US withdraws duty benefits to India, Nifty reclaims 11K – Weekly Digest #79

Monday- 4th March 2019 Two shareholders of UTI AMC, SBI and LIC have sought more time from the SEBI to divest their stake in the asset manager, but SEBI has declined them an extension of time. Last year, the SEBI introduced a cross-holding limit in mutual funds to eliminate potential conflicts of interest. Zomato Media, …

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 …

SBI cuts lending rate, Rupee hits a 3-year high, CDB withdraws insolvency proceedings against RCom- Weekly Digest #59

Monday- 1st January 2018 China's e-commerce giant Alibaba to acquire a minority stake in logistics company XpressBees for an estimated amount of $100 million as it looks to break into Indian markets to compete with global rival Amazon, and homegrown rival Flipkart. BoB failed to sell bad loans amounting to ₹2,300 crore due from Bhushan Steel and …

LIC’s investment cleared, Market stays sluggish, Discontent against IBC tweaks -Weekly Digest #54

Monday- 27th November 2017 Finance Ministry of India has confirmed that LIC's proposed investment ₹1.5 lakh crore in the Indian Railways. Earlier, concerns were raised regarding that it would take LIC's exposure to more than 25% of IRFC’s net worth. Goldman in its year-end forecast predicted that India's economic growth will touch the mark of 8% in FY19 …

Market down on global cues, Sebi after shell companies, SoftBank adds fund to Flipkart- Weekly Digest #50

Monday- 7th August 2017 SEBI has presented at least half a dozen angel firms with notices within one and a half month, asking them to spell out details of their fund-raising business and explain whether they operate within the contours of the securities market law. InCred Finance, backed by former Deutsche Bank co-CEO Anshu Jain, …