2 min read.Updated: 04 Oct 2021, 08:08 AM ISTLivemint
FIIs net bought Indian shares worth ₹131.39 crore, while DIIs net sold shares worth ₹613.08 crore on Friday. The Sensex had declined 360.78 points to close at 58,765.58 on Friday, while Nifty50 fell to 17,532
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Tata Group: Commerce and industry minister Piyush Goyal on Saturday reiterated that the Indian government was yet to take a final call on financial bids for Air India divestment, denying media reports that Tata Sons has been declared the winner.
Aviation stocks: Oil marketing companies (OMCs) have raised prices of aviation turbine fuel (ATF) by about 9% in the past month and by more than 80% in the last one year, adding to the woes of Indian carriers seeking to emerge from the widespread disruptions caused by the pandemic. Jet fuel makes up 30-40% of the cost of running an airline in India and any increase will hurt the profit margins of airlines.
Adani Group: Adani group has become the biggest issuer of offshore bonds with multiple group companies issuing bonds over the last five years to raise over $9 bn from foreign investors. Adani ports alone has raised over $5 billion in this period and is the biggest private sector issuer of foreign bonds from India.
CESL: Royal Dutch Shell is in talks with state-run CESL to invest $500 million by acquiring a 50% stake in its decentralized solar and electric mobility business. The talks for investment at the asset level are on with a final term-sheet to be inked shortly.
ZEEL: On Saturday, Zee Entertainment Enterprises Ltd (ZEEL) moved the Bombay high court asking it to declare the shareholders' meeting requisition notice sent by Investo as "illegal and invalid". A day before, on Friday, ZEEL had rejected its largest shareholder Invesco Funds' request to hold an extraordinary general meeting.
NTPC: NTPC Ltd has announced plans to take three subsidiaries public to meet the government’s target of asset monetization worth ₹15,000 crore. The three companies are NTPC Vidyut Vyapar Nigam ltd (NVVN), North Eastern Electric Power Corporation ltd (NEEPCO) and the year-old NTPC-Renewable Energy Ltd (NREL). NTPC will exit NTPC-SAILPower Company, its joint venture with state-owned steel firm SAIL, as part of the monetisation plan.
BSE: BSE is ready with its technology to introduce electronic gold receipts (EGRs) on its platform, which will help in creating uniform price structure of the yellow metal across the country, its chief business officer Sameer Patil said on Sunday. The exchange will take the required internal approvals and apply to markets regulator Sebi for the launch of the new class of security on its platform, he added.
Cadila Healthcare: With talks underway between the central government and Zydus Cadila over the pricing of the covid-19 vaccine ZyCov-D, the pharma company is learnt to have proposed a price of ₹1,900 for its three-dose jab that can be given to those above 12 years of age. However, the government is negotiating for a reduction in price and a final decision on it is likely to be taken this week.
Telecom stocks: The DoT has amended licence norms to rationalise the interest rate for delayed payment of licence fee, a move that is expected to ease financial burden on the telecom sector and promote ease of doing business. The department will now charge 2% interest above the one-year marginal cost of lending rate (MCLR) of State Bank of India for delay in payment of licence fees or any other statutory dues and the 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. that involved use of an anti-abuse provision introduced in the tax law in 2012, on past transactions.
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