• India is a “TARIF KING” : TRUMP
US president Donald Trump has alleged “India is one of the highest taxing nations in the world” as he certified the country for improving 100% tariffs on some American products .Such high tariffs is not fair,he said.
• Supreme court to ex-Ranbaxy promotes : will send you to jail
The Supreme court has warned former Ranbaxy promotes Malvinder Singh and Shivinder Singh over non-payment of Rs.2562 crores to Daiichi(Japanese Pharma crucial frim).We will send you to jail for not paying the dues,the court said.
• Bezos keeps voting power of entire $143billion Amazon stake post divorce
Amazon.com Inc CEO Jeff Bezos will retain voting control of his entire $143billion stake in the company under a devorce settlement with Mackenzie Bezos,who will own 25% of those shares .
Mackezie Bezos will wind up with a stake in Amazon that it worth roughly $36 billion. Her shares represent a 4% stake in Amazon. The Amazon shares will make her the world’s third richest woman while Jeff Bezos will remain the world’s richest person, according to Forbes.
• BOI to sell insurance joint venture stake worth Rs 1,100 cr.
Bank of India has offered to sell a 25% stake in star union Dai-ichi life insurance (its Joint Venture Company with Union Bank of India)for atleast Rs 1,106 crores.
• Lakshmi Vilas Bank approves merger with India bulls Housing
The board of LVB on Friday approved a share Swap acquisition by housing finance firm India bulls housing finance, LVS has total assets of more than Rs 40,400 crores while India bulls has an aseet base of Rs 1.32 lakh crore. The merger will need the approval of RBI and other regulators.
• Government sells Rs 1150 crore worth ‘enemy shares’ in wipro.
The Government has sold enemy shares worth around Rs1150 crore in IT services firm Wipro to LIC and to other state-owned Insurers. ”Enemy properties” refer to assets that once belonged to people who went to Pakistan and China and are no longer Citizens of India. The sale proceeds will be deposited as dis investment proceeds with the Ministry of Finance.
• NIFTY earnings can effectively double in next five years: Punkaj Murarka
Nifty earnings can effectively double in next five years which means we can experience the earnings CAGR of 15% or so over the next five years, said Pankaj Murarka, founder ,Renaissance Investment Managers.
• Forex reserves soars $5billion to $412billion
The maiden dollar-rupee swap (exchange) conducted by the central bank last week helped the countrys foreign exchange reserves swell by a healthy $5.237billion to $411.905billion in the week to March 29, RBI data
Foreign currency assets swelled by $5.248billion to $384.053billion In Reporting week.
Gold reserves remained uncharged at $23.408billon in the reportig week.
• Zomato’s revenue sulges in FI 19 on high expenses
The Gurgaon bassed company saw its total revenues shoot up from $68 million in 2017-18 to $206million in 2018-19 and Zomato spent $500 million in 2018-19,a six times Jump from $80 million in previous year resulting losses of around $294million.The company used to spent around Rs 44 per delivery in 2017-18 which reduced it to Rs 25 in 2018-19.
Number of deliveries per rides per hour has gone up to 1.4 from 0.9 last year.
• BENCHMARKS:
US president Donald Trump has alleged “India is one of the highest taxing nations in the world” as he certified the country for improving 100% tariffs on some American products .Such high tariffs is not fair,he said.
• Supreme court to ex-Ranbaxy promotes : will send you to jail
The Supreme court has warned former Ranbaxy promotes Malvinder Singh and Shivinder Singh over non-payment of Rs.2562 crores to Daiichi(Japanese Pharma crucial frim).We will send you to jail for not paying the dues,the court said.
• Bezos keeps voting power of entire $143billion Amazon stake post divorce
Amazon.com Inc CEO Jeff Bezos will retain voting control of his entire $143billion stake in the company under a devorce settlement with Mackenzie Bezos,who will own 25% of those shares .
Mackezie Bezos will wind up with a stake in Amazon that it worth roughly $36 billion. Her shares represent a 4% stake in Amazon. The Amazon shares will make her the world’s third richest woman while Jeff Bezos will remain the world’s richest person, according to Forbes.
• BOI to sell insurance joint venture stake worth Rs 1,100 cr.
Bank of India has offered to sell a 25% stake in star union Dai-ichi life insurance (its Joint Venture Company with Union Bank of India)for atleast Rs 1,106 crores.
• Lakshmi Vilas Bank approves merger with India bulls Housing
The board of LVB on Friday approved a share Swap acquisition by housing finance firm India bulls housing finance, LVS has total assets of more than Rs 40,400 crores while India bulls has an aseet base of Rs 1.32 lakh crore. The merger will need the approval of RBI and other regulators.
• Government sells Rs 1150 crore worth ‘enemy shares’ in wipro.
The Government has sold enemy shares worth around Rs1150 crore in IT services firm Wipro to LIC and to other state-owned Insurers. ”Enemy properties” refer to assets that once belonged to people who went to Pakistan and China and are no longer Citizens of India. The sale proceeds will be deposited as dis investment proceeds with the Ministry of Finance.
• NIFTY earnings can effectively double in next five years: Punkaj Murarka
Nifty earnings can effectively double in next five years which means we can experience the earnings CAGR of 15% or so over the next five years, said Pankaj Murarka, founder ,Renaissance Investment Managers.
• Forex reserves soars $5billion to $412billion
The maiden dollar-rupee swap (exchange) conducted by the central bank last week helped the countrys foreign exchange reserves swell by a healthy $5.237billion to $411.905billion in the week to March 29, RBI data
Foreign currency assets swelled by $5.248billion to $384.053billion In Reporting week.
Gold reserves remained uncharged at $23.408billon in the reportig week.
• Zomato’s revenue sulges in FI 19 on high expenses
The Gurgaon bassed company saw its total revenues shoot up from $68 million in 2017-18 to $206million in 2018-19 and Zomato spent $500 million in 2018-19,a six times Jump from $80 million in previous year resulting losses of around $294million.The company used to spent around Rs 44 per delivery in 2017-18 which reduced it to Rs 25 in 2018-19.
Number of deliveries per rides per hour has gone up to 1.4 from 0.9 last year.
• BENCHMARKS:
(Disclaimer:All the information is gathered from various sources and presented here for readers convenience with some changes)
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