Reliance Industries (RIL): RIL, Viacom 18 Media Private Limited (Viacom18) and The Walt Disney Company (Disney) announced the signing of binding definitive agreements to form a joint venture (JV) that will combine the businesses of Viacom18 and Star India. As part of the transaction, the media undertaking of Viacom18 will be merged into Star India Private Limited (SIPL) through a court approved scheme of arrangement. In addition, RIL has agreed to invest at closing Rs 11,500 crore into the JV for its growth strategy. The transaction values the JV at Rs 70,352 crore on a post-money basis, excluding synergies. Post completion of the above steps, the JV will be controlled by RIL and owned 16.34% by RIL, 46.82% by Viacom18 and 36.84% by Disney.
Posts in category Business Standard
Spandana Sphoorty board to mull NCD on March 4 (29-02-2024)
Spandana Sphoorty Financial said that its management committee of the board will meet on Monday, 4 March 2024 to raise funds through non-convertible debentures (NCDs) on private placement basis.
AMFI Advises Fund Houses to Protect Interests of Investors After SEBI Raises Concern Of Froth Building In Small And Midcap Segments (29-02-2024)
According to an update from AMFI, the industry body has asked mutual funds to put in place safeguards to protect the interests of all investors in mid- and small-cap funds. Amfi sent this letter after markets regulator Securities and Exchange Board of India (Sebi) raised concerns of “froth building up in small and midcap segments” amid continuing flows in mid- and small-cap funds.
Stocks to watch: Reliance, Coal India, BHEL, Shriram Finance, UPL, Jio Fin (29-02-2024)
Stocks to Watch on February 29, 2024: Under the NSE index rejig, Shriram Finance will replace UPL in the Nifty50 index with effect from March 28, 2024
Gold falls Rs 10, silver declines Rs 100; trading at Rs 73,800/kg (29-02-2024)
The price of 22-carat gold also fell Rs 10 with the yellow metal selling at Rs 57,580.
Stock Market Live: Sensex up 100 pts, RIL leads; TV18 group shares down 5% (29-02-2024)
Stock market Update on Thursday, February 29: In the broader market, the BSE MidCap and SmallCap indices continued to reel under selling pressure were down nearly 1 per cent each.
Nifty Auto index seen in downtrend, Energy range-bound; suggest charts (29-02-2024)
According to Ravi Nathani, an independent technical analyst, the Nifty Auto index can dip to 20,200 and 19,850 levels in the near term.
NBFC major Shriram Finance to replace agro chemicals firm UPL in Nifty50 (28-02-2024)
Meanwhile, Adani Power, IRFC, Jio Financial Services, PFC and REC have got included in the Nifty Next 50 index
State govt bonds to yield better returns under new investment regime (28-02-2024)
Under the new norms, banks must categorise bonds as “held-to-maturity” on a permanent basis, with the exception of 5 per cent of the portfolio that can be withdrawn throughout the year