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EV Charging Infrastructure Policy In Line, Tata to Buy Stake in Jet Airways et al

Professor of Financial Economics and Part-time Value Investor, Transfin.
Nov 18, 2018 2:13 PM 2 min read
Editorial

Good evening reader,

 

This week saw some important appointments, some unforeseen resignations and rather significant announcements.

 

Power and New & Renewable Energy Minister R K Singh spoke of an Electric Vehicles (EV) Charging Infrastructure policy, which will allow individuals to set up charging stations for commercial use. Check out our latest Podcast which discusses how the move could provide EV will the much-needed boost.

 

Another running piece of commentary has been on the RBI vs Govt debate on 'What constitutes Surplus’? Click our latest LongShorts which throws some light on the issue.

 

Finally, in light of Abu Dhabi gearing up for the last Grand Prix of the year next Sunday, we make an attempt to understand the nuts and bolts of a Formula 1 car.

 

Moving on to the Top 6 Business Stories of the week through our End Of Week Wrap Up:

 

INDIA

 

Flipkart Group CEO Binny Bansal resigns after investigation into alleged "serious personal misconduct."

Binny Bansal, CEO of Flipkart Group quit post an investigation into 'serious personal misconduct' even as he denied the allegations, according to a press release.

 

Kalyan Krishnamurthy will continue as CEO of Flipkart, which will now include Jabong and Myntra.

 

Ministry of Power to bring in EV infrastructure policy to boost e-mobility.

Ministry of Power is likely to bring in an Electric Vehicles (EV) Charging Infrastructure policy, which will allow individuals to set up charging stations for commercial use. The Ministry is reportedly coordinating with the Oil Ministry to set up EV charging stations at petrol pumps.

 

Tata Group holds ‘preliminary’ meeting with Jet, no decision on the acquisition taken yet.

Tata Group confirms holding preliminary discussion over buying a stake in the beleaguered airline, however announces that the dialogue is still ongoing.

 

According to a Financial Express report, Tata Group is favouring an all-stock merger of Jet Airways with Tata-SIA-run full service airline Vistara, while eventually giving an exit to Jet’s promoter Naresh Goyal, who along with his family owns 51% stake in the airline. Gulf carrier Etihad Airways holds 24%.

 

Essel Group may divest up to 50% of its promoter share in Zee Entertainment.

Essel Group, which holds 41.6% in the media and entertainment firm may divest upto 50% of its promoter share.

 

The transaction is expected to address Essel Group's capital allocation priorities as it intends to undertake a “strategic review of its businesses in view of the changing global media landscape.”

 

US/INTERNATIONAL

 

Theresa May’s Brexit deal gets Cabinet’s green light.

British Prime Minister Theresa May secured approval for the Brexit deal from the Cabinet, Parliamentary approval awaited.

 

However, two senior members of PM May’s cabinet, Brexit Secretary Dominic Raab and Pensions Secretary Esther McVey have resigned over the terms of the approved Brexit deal.

 

Saudi crown prince behind Khashoggi murder, confirms CIA.

The US Central Intelligence Agency has concluded Saudi's Crown Prince Mohammed bin Salman's involvement in the killing of Saudi Arabian journalist, Jamal Khashoggi.

 

This comes shortly after a Saudi prosecutor cleared the Crown Prince’s involvement in the murder.

 

 

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