BENGALURU: MakeMyTrip has launched a two-part capital raise comprising a public equity offering and a private convertible note issuance, with the combined proceeds to be used for repurchasing a portion of its Class B shares from Trip.com Group, a travel agency headquartered in Shanghai, China.At MakeMyTrip’s last close of $100.88 apiece, the two transactions total…
The Competition Commission of India (CCI) on Tuesday approved logistics services provider Delhivery’s proposed acquisition of a 99.4% stake in Ecom Express for a cash consideration of up to Rs 1,407 crore.“The proposed combination comprises the acquisition of at least 99.44 per cent of the equity and preference shareholding (on a fully diluted basis) of…
The rupee weakened by 30 paise to close at 86.34 against the US dollar on Tuesday, pressured by a sharp rise in global crude oil prices and growing geopolitical uncertainty in the Middle East. A stronger greenback and muted domestic equity markets further weighed on the local unit.At the interbank foreign exchange market, the rupee…
NEW DELHI: India’s thirst for oil will rise increase than any other country at a million barrels per day (bpd) over the next five years, making it the main driver of global demand growth, the International Energy Agency said in its forecast to 2030 released on Tuesday.India currently consumes under 5 million bpd, 85% of…
Pakistan and the United States have agreed to intensify negotiations on reciprocal tariffs with the aim of finalising a bilateral trade deal through continued technical engagement, according to Radio Pakistan.The agreement was reached during a virtual meeting on Monday between Pakistan’s Finance Minister Muhammad Aurangzeb and US Commerce Secretary Howard Lutnick, where the two sides…
Tax Deducted at Source or TDS is the tax that is deducted before making a payment to the recipient. (AI image) ITR filing FY 2024-25: It’s that time of the year when every taxpayer gets together documents to file their income tax return. This year the last date of filing the income tax return has…
Siemens will deploy ETCS Level 2-based signalling and train control systems under the contract. (AI image) India’s first bullet train project between Ahmedabad and Mumbai is on track despite several delays. A Siemens consortium has now been awarded the contract for signalling and telecom systems on the high-speed rail corridor by National High Speed Rail…
The National Stock Exchange (NSE) and BSE will swap their weekly derivatives expiry days starting September 1, after receiving approval from the Securities and Exchange Board of India (Sebi). NSE will move to Tuesday expiries, while BSE will shift to Thursday.The change comes as part of Sebi’s directive to standardize equity derivatives expiries to only…
India’s stricter toy safety standards have not only reduced consumer complaints but also helped domestic manufacturers expand exports, according to officials at the Bureau of Indian Standards (BIS).BIS Director Adbhut Singh said Indian norms, designed around local weather and usage patterns, surpass global benchmarks like ISO and IEC in areas including chemical, physical, and electrical…
Gold retains its position as a reliable protective asset, helping to minimise risks during persistent economic and geopolitical instability. (AI image) Gold continues to be a favourite for central banks! Amidst rising global economic uncertainties and geopolitical tensions, central banks around the world will continue to stock up on gold, says a World Gold Council…