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Air India Might Be Bailed Out, Paytm Money Launched Today et al.

Professor of Financial Economics and Part-time Value Investor, Transfin.
Sep 4, 2018 1:01 PM 2 min read
Editorial

Greetings readers, the Rupee doesn't drop below 71 since the weekend and now Bond yields cross the 8% mark. Classic. With the week starting on this statistical low point (GDP @ 8.2% already feels like faded memory...), it is time we revisit today's top 6 business stories in our End Of Day Wrap Up:

 

INDIA

 

Air India to be bailed-out by government through an INR2,100cr package
Bail-out, in the form of guaranteed borrowing, will be subject to cost cuts. The state-owned carrier currently holding INR50,000cr of debt and reported INR5,760cr of losses in March last year.

 

Paytm Money, an online distributor of Mutual Funds and subsidiary of payments co Paytm launched today
Distribution platform has entered partnerships with 25 asset management companies. Also tied-up with MorningStar, Crisil, and Value Research to provide research access to users free of cost. Restricted release.

 

LIC may seek regulatory exemption from making an open offer to minorities in IDBI Bank
As per current SEBI rules, an acquisition of more than 25% in a listed entity is termed as control and requires an open offer. LIC board met today to take various decisions to support their plan to acquire 51% stake in IDBI Bank. 

 

Amazon launches Hindi version of its mobile website and app for Android smartphone users
Vernacular angle a conscious effort to compete in India's fast growing e-commerce market. None of Amazon's competitors i.e. Flipkart, Snapdeal or Paytm Mall have a local language functionality of their products.


US / INTERNATIONAL

 

Global advertising giant WPP demonstrate weak Q2 results
Share price down -5.6% courtesy poor performance in North America with net sales down -3.3% for the quarter. The group recently chose company veteran Mark Read as new CEO after founder Martin Sorrell departed in Apr.

 

Oil prices jump sharply as 2 Gulf of Mexico rigs evacuated in preparation of hurricane
US Light crude rises $1.6 per barrel to close at $71.15. Brent crude up $1.10 to $79.25 a barrel. Anadarko Petroleum Corp says it has evacuated and shut production ahead of the approach of hurricane Gordon

 

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