Tata Group: Trade and Industry Minister Piyush Goyal reiterated on Saturday that the Indian government has yet to issue a final financial tender for the Air India divestment, denying media reports that Tata Sons would have been declared the winner.
Aeronautical stocks: Petroleum Marketing Companies (OMCs) have increased the prices of aviation turbine fuel (ATF) by about 9% in the past month and more than 80% in the past year, adding to the woes of Indian carriers seeking to get out of widespread disruption. caused by the pandemic. Jet fuel accounts for 30-40% of the cost of operating an airline in India and any increase will hurt airline profit margins.
Adani Group: The Adani Group has grown to become the largest offshore bond issuer with several group companies issuing bonds over the past five years to raise more than $ 9 billion from foreign investors. The ports of Adani alone have raised more than $ 5 billion during this period and are the largest private sector issuer of foreign bonds from India.
CESL: Royal Dutch Shell is in talks with state-owned CESL to invest $ 500 million by acquiring a 50% stake in its decentralized solar and electric mobility business. Asset level investment talks are underway with a final term sheet to be signed shortly.
ZEEL: On Saturday, Zee Entertainment Enterprises Ltd (ZEEL) asked the Bombay High Court to declare the notice of requisition of shareholders’ meeting sent by Investo as “illegal and invalid”. The day before, Friday, ZEEL had rejected the request of its main shareholder Invesco Funds to hold an extraordinary general meeting.
NTPC: NTPC Ltd has announced plans to make three subsidiaries public to meet the government’s goal of monetizing assets worth ??15,000 crores. The three companies are NTPC Vidyut Vyapar Nigam Ltd (NVVN), North Eastern Electric Power Corporation Ltd (NEEPCO) and NTPC-Renewable Energy Ltd (NREL), established one year ago. NTPC will exit NTPC-SAILPower Company, its joint venture with state-owned steel company SAIL, as part of the monetization plan.
ESB: ESB is technology-ready to introduce Electronic Gold Receipts (EGRs) to its platform, which will help create a uniform price structure for the yellow metal across the country, its sales manager Sameer said on Sunday. Patil. The exchange will take the required internal approvals and ask market regulator Sebi to launch the new security class on its platform, he added.
Cadila Health: While talks are underway between the central government and Zydus Cadila over the price of the covid-19 vaccine ZyCov-D, the pharmaceutical company has reportedly offered a price of ??1,900 for its three-dose jab that can be given to people over 12 years of age. However, the government is negotiating a price cut and a final decision on this is expected to be made this week.
Telecom actions: The DoT changed licensing standards to streamline the interest rate for deferred payment of license fees, a move that should ease the financial burden on the telecommunications industry and make it easier to do business. The department will now charge 2% interest above the one-year marginal cost of borrowing (MCLR) rate of the State Bank of India for late payment of license fees or any other statutory fee and interest will be compounded annually.
Vodafone idea: The central government on Saturday notified the ground rules for settling 17 tax disputes with multinational companies like Cairn Energy Plc. and Vodafone Plc. which involved the use of an anti-abuse provision introduced in the tax law in 2012, on past transactions.
Never miss a story! Stay connected and informed with Mint. Download our app now !!