Jubilant Bhartia Group is set to acquire a 40% stake in Hindustan Coca-Cola Holdings (HCCH), the parent company of India's largest Coca-Cola bottler, for over Rs 10,000 crore. This investment reflects the group's confidence in India's growing beverage market and aligns with their expansion strategy into high-growth sectors. The deal awaits regulatory approval.
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US President Donald Trump plans to reintroduce a 25% tariff on steel and aluminum imports, raising concerns for Indian steel producers facing intense competition and oversupply. Despite the significant tariffs, India's strong domestic market is expected to mitigate adverse effects on its steel industry.
Venture capital investments in India saw significant growth from January to November 2024, reaching $16.77 billion across 888 deals. The technology sector secured $6.50 billion. In China, VC funding activities experienced a decline, with a disclosed funding value of $32.3 billion across 2,313 deals.
A US court directed Bank of America to pay $540.3 million to the Federal Deposit Insurance Corporation. This order was regarding underpaid deposit insurance assessments. The dispute was about payments from 2013 to 2014. The FDIC initially sued the bank for a larger sum. The judge dismissed some claims due to the delay.
ONGC has appointed BP as a technical partner for enhancing oil and gas production from India's Mumbai High. BP won the 10-year contract, outbidding Shell, and aims to increase output by up to 60%. BP's role involves analyzing field performance and implementing technological improvements.
RBI has eased rules for asset reconstruction companies (ARCs) to settle dues with defaulters based on the realisable value of assets. Smaller loans up to Rs 1 crore can be settled through a board-approved policy, while larger loans require a board-level panel decision. This change aims to improve recoveries and expedite settlements for personal loan defaults.
RBI Governor Shaktikanta Das, in his final press conference, emphasized the crucial coordination between the RBI and the government in managing inflation. He defended the RBI's stance on maintaining stable rates despite slowing growth, highlighting the impact of multiple factors.
Nestaway Technologies' co-founder Amarendra Sahu has accused key investors like Tiger Global Management and Goldman Sachs of cheating and forgery in the sale of the company to Aurum PropTech. Sahu claims the sale was enforced with forged documents and alleges misuse of proceeds by co-founders.
Global passenger numbers are projected to reach 22.3 billion by 2053, nearly 2.4 times the volume for 2024, as per the Airports Council International's airport traffic forecasts. Key factors include rising middle-class travel demand in emerging markets, strengthened international travel, and investments in airport infrastructure.
India's banking sector is experiencing slow loan growth and margin pressure due to high interest rates. Loan growth is projected to drop significantly, and banks are focusing on retail deposits to strengthen their balance sheets. Despite this, net profits and bad loan ratios show improvement.
The market valuation of six of the top 10 valued domestic firms, including Infosys and TCS, decreased by Rs 1.71 lakh crore last week. Meanwhile, Reliance Industries, Bharti Airtel, State Bank of India, and LIC saw gains, with Reliance Industries being the most valued firm.