News Overview

Chief executive Akshaya Moondra stated that the ₹18,000 Crore follow-on share offer will reduce the government interest to 24%.

In August 2022, the London-based mining conglomerate paid ₹565 Crore for Athena Chhattisgarh Power Ltd to cover its captive power demand.

HDFC Mutual Fund was the largest investor in the share sale, followed by Nippon Life India AMC, Goldman Sachs, and Bandhan Mutual Fund.

All eyes on outlook and revenue conversion of previously won deals.

Analysts of IIFL Capital Services believe FY25 will be a year of normalization in Life as growth should revert to teens while margins would start witnessing stability with an upward bias

Consumers have adopted Ecommerce differently across different categories; E-commerce share for Mobiles stands at 58% but for large household appliances, it is only 17%. In the latter, consumers prefer to go to a physical store to check out the look and feel of the product, discuss warranty and exchange, get priority on installation and so on. In recent times, there is a bit of reverse migration from e-commerce to brick-and-mortar stores in mobiles as well. Analysts of IIFL Capital Services believe that brick-and-mortar organised retail would still grow at ~14% even allowing for some share loss to online platforms.

The deal is anticipated to close within 60 days after the BTA's signature, or on a later date that the parties have mutually agreed upon in writing.

The good news is that overall trade could push CAD to under 1% of GDP in FY24.

Plans for new LNG import terminals are also being developed by GAIL, but they are still in the early phases, according to Gupta.

Retail sales in the United States increased by 0.7% last month, contrary to the 0.3% increase that Reuters's panel of economists had predicted.