The iconic brand is considering petrol powertrains for its entire Indian portfolio, which includes the Jeep Compass, Meridian, Grand Cherokee and Wrangler.
Posts tagged Rediff
Riding the wave of floating-rate mutual funds (26-09-2023)
Floating-rate mutual funds are back in demand after a year-long period of consistent outflows. In the past three months, investors have poured over Rs 6,100 crore into these debt schemes, indicating a reversal in fortunes for the category that recorded outflows for 11 consecutive months (May 2022 to March 2023), totalling Rs 32,250 crore. Floating-rate funds invest at least 65 per cent in floating-rate instruments, which have their interest rates linked to the Reserve Bank of India repo rate.
Tata Steel investment positive for UK ops, but… (26-09-2023)
Tata Steel UK is reformatting its operations in Port Talbot by investing £1.25 billion in an electric arc furnace facility with the UK government contributing £500 million. The project will take around three years to complete, if all the regulatory clearances come through. The facility will use scrap and be classified as green since it will utilise renewable power and cut carbon emissions considerably.
Private equity-backed M and As fall to 31-month low (26-09-2023)
The number of mergers and acquisitions (M and As) in August that involved private equity (PE) funds was the lowest in nearly three years. There were 26 such deals last month, according to data from tracker Refinitiv (part of London Stock Exchange Group). The last time monthly deal numbers were so low in recent times was January 2021 when Covid cases were picking up during the second wave of the pandemic.
Has India’s ‘Bad Bank’ Worked Or Not? (26-09-2023)
The target was for banks to sell Rs 2 trillion worth of non-performing assets to NARCL, the so-called ‘bad bank, by 2021-2022. Only 10 per cent of this has been executed.
Dabur keen to buy 26% Religare pie for Rs 2,116 cr (25-09-2023)
Entities belonging to the Burman family, the promoter of Dabur India, on Monday announced a Rs 2,116 crore open offer to shareholders of Religare Enterprises Ltd (REL) to acquire up to an additional 26 per cent stake in the company as part of its strategy to enter the financial services space. Post the open offer, the family’s stake in the financial services firm is expected to increase to 51 per cent. The open offer is made to increase the family’s stake and take control of REL and this will mark the entry of Burmans into the financial services space.
Nirma to tap into own funds, debt to buy Glenmark arm (25-09-2023)
Nirma has roped in BCG and KPMG to advise it on the fundraising options for the acquisition. The company had earlier informed banks that it would raise Rs 5,000 crore to Rs 7,000 crore in the current financial year for the acquisition. Bankers said the company will rely on its funds and future GLS dividend to repay its debt for acquisition.
Demand for frontline jobs decreased by 17.5% in FY23 (25-09-2023)
Having seen a rapid growth in demand for frontline workers in FY22 with the economy opening up, the growth seems to have muted in FY23 due to macroeconomic challenges. According to BetterPlace’s Frontline Index Report, total demand for frontline jobs decreased by 17.5 per cent. In FY23, 6.6 million frontline jobs were created in India as compared to 8 million in FY22.
No plan on OTTs sharing revenue with telcos: Govt (25-09-2023)
There is no plan to direct over the top (OTT) communications players who generate large amounts of traffic to give a ‘fair and proportionate’ share of their revenues to telecom network operators, the communications ministry has said. A senior official allayed any such apprehension by saying: “We have no proposal of this kind or anything like this which we are working on. “There is no fresh reference on this matter to the regulator (Trai),” he said. The ministry’s view is significant as telecom network operators have been escalating this issue since July when Trai issued a consultation paper called ‘Regulatory Mechanism Over OTT Communication Services and Selective Banning of OTT Services’.
Stock markets end flat in highly volatile trade (25-09-2023)
Among the Sensex firms, Bajaj Finance jumped the most by 4.64 per cent. Bajaj Finserv, Kotak Mahindra Bank, Asian Paints, UltraTech Cement, ICICI Bank, NTPC, JSW Steel and Tata Steel were among the major gainers. Infosys, Mahindra and Mahindra, Wipro, Tata Consultancy Services, IndusInd Bank and HCL Technologies were the major laggards.