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Government To Divest 76% stake in Air India et al

Professor of Financial Economics and Part-time Value Investor, Transfin.
Mar 29, 2018 1:40 PM 2 min read
Editorial

End of Day Wrap-up (Thursday / March 29, 2018) #AirIndia #RBI #ICICI #Suzuki #Toyota #SEBI #Softbank #Google #Tenor #Ola #Uber #Transfin

Editor's comment: Government to divest 76% stake in Air India. Bidders have been asked to submit expression of interest by May 14. Also, bidders must have a minimum net worth of INR50 bn and net profit for 3 preceding years. Although, the rule has been relaxed for Indian carriers. At present Air India has debt of INR487 bn


RBI imposes c. INR59 cr fine on ICICI Bank over direct sale of securities from HTM (held-to-maturity) portfolio. It is non-compliant with directions issued by RBI.

 

Suzuki and Toyota sign mutual agreement and as part of it will supply specific models to each other. Suzuki Motor corp. to supply Baleno and Vitara Brezza SUV to Japanese counterpart Toyota motor corp., while the latter will supply Corolla Altis to Suzuki in the domestic market.

 

SoftBank calls for a merger between Ola and Uber’s India unit as part of its planned consolidation in Asia’s fast-growing ride-hailing app market. SoftBank is the largest investor in both the companies. The push for consolidation comes days after Uber and Grab deal in South East Asia.


SEBI accepts proposal to segregate roles - MD/CEO and Chairman for at least 500 big companies The proposal was amongst 40 suggestions made by a panel headed by banker Uday kotak. “Separation of CEO/MD and Chairperson (to be initially made applicable to the top 500 listed entities by market capitalization w.e.f. April 1, 2020),” SEBI said in a press statement.


Google to acquire mobile GIF keyboard and search engine Tenor."Most people now use Google Images to find more information about a topic, and to help them communicate and express themselves—case in point, we see millions of searches for GIFs every day," said a Google’s spokesperson. Financial terms of the deal are not yet declared.