Vodafone Idea's (Vi's) subscriber loss reduced to a seven-month low in March, and alongside the company added 1.1 million broadband users after two months of net loss -- two things analysts have noted as key trends that need to be monitored. While Vi has been losing customers for more than two and a half years now, the churn reduced to below a million after five straight months in March, the Telecom Regulatory Authority of India (Trai) data has shown. "Jio's softer than usual subscriber growth in March, and VIL's slowing subscriber market share loss are key trends to keep an eye on going forward," global investment banking and financial services major UBS said in an analyst note.
The need to raise policy rates one more time still exists.
Last Saturday, USL board asked its Chairman Vijay Mallya to quit.
The amendments should be submitted by year-end.
In fresh trouble for liquor baron Vijay Mallya, United Bank of India has identified United Breweries Holdings, the guarantor of grounded airline Kingfisher, as wilful defaulter.
Ivan Toney, once Brentford's lynchpin in attack, has moved to Al-Ahli for 40 million pounds ($52.50 million).
Ending an almost two-year-long dispute over partnership with the Vijay-Mallya owned United Breweries Ltd, Heineken NV, the world's third-largest brewery firm, on Monday agreed to permit UBL to brew and market the Heineken brand in India.
The acquisition is likely to be followed by the merger of Shaw Wallace & Company with group flagship United Spirits.
Attributing to people familiar with the development, The Wall Street Journal reported that UBS AG's brokerage unit in the US is laying off nearly 200 employees, including about 25 managing directors.
The UB group may introduce a format of lounge bars where it will sell multi-branded merchandise and invest nearly Rs 8-10 crore (Rs 80-100 million) in each of the stores.
Swiss bank UBS has been fined Pounds 8 million in the United Kingdom after four of its senior employees were found misusing funds of customers, including two companies of Indian industrialist Anil Ambani-led group.
The wide-based NSE sensitive index is currently hovering around 7,900.
"They have beer business in India, which has a conflict of interest as Kingfisher is the largest beer brand in the country. I am ready to buy back," Mallya said in Baramati while opening United Spirits' Baramati Four Seasons winery. Earlier in January, a consortium of Carlsberg and Heineken had acquired S&N for 7.5 billion pounds. S&N had 37.5 per cent stake in the UB Group. As per the takeover agreement, Heineken was supposed to continue to hold S&N's business in the UK.
Reliance Industries' (RIL's) consumer business is expected to lead earnings growth in the Q3FY24 performance, according to analysts. While the energy business is expected to show sequential weakness, the consumer business, especially retail, is estimated to show strong growth. The oil-to-telecom conglomerate will announce its Q3FY24 financial results on Friday.
Vijay Mallya-controlled UB Group's open offer for acquiring stake in liquor firm Shaw Wallace will begin on April 18, the manager to the offer said on Thursday.
Just ahead of its mega FPO opening to public investors, Vodafone Idea (VIL) has announced closure of its anchor book allocation, raising about Rs 5,400 crore from marquee global as well as domestic investors, according to a statutory filing by the telco. This could be the third-largest anchor book after One 97 Communications and Life Insurance Corporation (LIC). One 97 Communications and LIC had raised Rs 8,235 crore and Rs 5,627 crore in the anchor round, respectively.
In all, 4.2 million shares were sold during the quarter.
Most analysts, who have long stopped covering UB stocks because of continuing troubles, were surprised to see a sudden spike of up to 20 per cent in their share prices on Tuesday.
Says will allow winding-up petition of aircraft lessors in case it fails to do so.
Creditors are fighting to get back Rs 600 crore, KFA employees not paid for months.
In a move that could change the sweepstakes in the Indian beer market, brewing giant SABMiller plans to acquire rival Scottish & Newcastle in a $12.8 billion deal, the Sunday Express said on Sunday.
Foreign brokerage UBS has raised its end-2008 target for the Sensex from 19,000 to 22,600, saying that domestic economic growth, which is insulated from the global economic slowdown, will help companies to report a strong performance.
The offer, which is being managed by Edelweiss Capital, was scheduled to open on Wednesday and close on August 13.
If Hindenburg or its partner do not join the investigation, then Sebi may pass an ex-parte order against it, which may be enforced as a foreign award in US courts.
The boards of three PSU banks - Bank of Baroda, Oriental Bank of Commerce and Andhra Bank met in deference to the Finance Ministry's insistence, but quite unexpectedly they did not roll back the rate hikes announced last week.
Analysts have given a thumbs up to the Reliance Industries (RIL) and Walt Disney Co. (Disney) proposed a joint venture (JV). The stock of the Mukesh Ambani-controlled company gained nearly 1.5 per cent on Thursday to Rs 2,952 levels as compared to the S&P BSE Sensex that traded marginally weak, down 0.2 per cent to 72,172 levels in intra-day trades.
Thongchai Jaidee of Thailand and the Indian pair of Jeev Milkha Singh and Jyoti Randhawa shared third place on 12 under par 268.
It said a meeting would be held with the airline's management soon.
UB's spirits division which group's McDowell and Co Ltd and privately-held Herbertsons Ltd, with sales of 26 million cases in the year to March 2002, had 4.3 per cent of the world market.\n\n
UBS has already recruited 180 people in the city.
The intrigue surrounding how the Vijay Mallya-led UB Group will address the spiralling debt problem of its companies took a fresh turn on Tuesday, with one senior official saying there was a possibility of group firm United Spirits Ltd totally selling out its flagship subsidiary Whyte and Mackay (W&M), the scotch major based in Scotland.
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