Detariffing in the non-life insurance market may well be the beginning of the end of cross-subsidisation and low premiums in group health insurance, with insurers now looking at pricing all their products individually.
The Central government is likely to rule out upfront equity participation of 26 per cent in upcoming semiconductor units and other general incentives
Motorcycle maker Yamaha Motor India on Monday said it would invest Rs 400 crore in the next three years and aimed to break even in 2005 besides phasing out the Rajdoot and RX135 models.
Prime Focus, a post-production and visual effects service company is close to acquiring a special effects studio situated on the west coast of United States. The deal size is reportedly pegged at around $100 million or under Rs 400 crore. Prime Focus is a leading integrated post production and visual effects services company.
'Our expectations are that we will be able to double our market share from 14-15 per cent currently to around 30 per cent by the end of the financial year.'
Last week's releases Shehzada and Ant-Man and the Wasp: Quantumania kept their target audience engaged, even though more was expected.
Citigroup Venture is planning to buy an equity stake in PINC for Rs.400 cr.
Walmart-owned digital payments firm PhonePe has decided to halt its proposed acquisition of Goldman Sachs- and Xiaomi-backed ZestMoney, a Bengaluru-based buy now, pay later (BNPL) platform. The deal, which was poised to fetch anywhere between $150-200 million and $300 million, has hit a snag over lapses in due diligence, disagreements over valuation, sustainability of the business, and shareholding structure of ZestMoney, according to people familiar with the matter. The collapse of the deal is also being attributed to a slowdown in the financial technology (fintech) sector in the midst of a funding winter, difficult regulatory environment, and macroeconomic uncertainty, informed other sources.
To achieve the target, the company will go in for inorganic growth and this will be partly funded by the proposed Rs 400 crore (Rs 4 billion) rights issue. It has started scouting for acquisitions in hair colour business in the developing markets.
'When honest, wealthy people come forward to serve India, people should feel proud and welcome them.'
India's largest IT services firm Tata Consultancy Services (TCS) on Wednesday said its shareholders have approved its up to Rs 16,000 crore share buyback plan. Last month, TCS' board of directors had approved a proposal to buy back up to 5,33,33,333 equity shares of the company at Rs 3,000 per scrip for an aggregate amount not exceeding Rs 16,000 crore. "....the members of the company have duly passed the special resolution approving the Buyback," TCS said in a regulatory filing on Wednesday. The voting, which started on October 20 and ended on November 18, saw 99.57 per cent of the votes being cast in favour of the buyback offer.
Firm terms lenders' move to appoint monitoring agency 'unwarranted'.
In a stock exchange filing, Adani Enterprises Ltd said VCPL has urged SEBI "to provide its observations on the draft letter of offer filed in relation to the open offer, in accordance with the SEBI (SAST) Regulations."
On December 31, SpiceJet's accumulated losses had grown to Rs 3,233 crore.
