GQG Partners acquired a 4.7 per cent stake in GMR Airports Infrastructure on Friday, sending the stock up 12 per cent.

The US-based boutique investment firm, which has gained prominence because of its successful investments in Adani group stocks, purchased shares at Rs 59.1 each, amounting to a total outgo of Rs 1,672 crore, according to data provided by BSE. The GMR Group firm’s shares, on the other hand, closed at nearly Rs 69 apiece following the uptick.

Alipay Singapore Holding plans to sell its entire 3.44 per cent stake in food delivery giant Zomato on Wednesday. The Chinese firm has set the floor price at Rs 111.28 per share for the transaction. Shares of Zomato last closed at Rs 113.8. At the base price, Alipay will be able to raise Rs 3,290 crore. BofA Securities and Morgan Stanley are the investment banks handling the share sale.

Alipay’s sister concern Antfin Singapore Holding held another 6.39 per cent stake in Zomato at the end of the September 2023 quarter.

In a move to expand its presence in Tier I and II cities, Max Healthcare Institute (MHIL) on Friday announced the signing of a share purchase agreement for the acquisition of 100 per cent stake in Starlit Medical Centre.

The deal, facilitated through MHIL's subsidiary, Crosslay Remedies, involves an enterprise value of Rs 940 crore.

Top Indian banks and non-bank lenders have asked their fintech partners to curtail issuing tiny personal loans, three banking and one industry source said on Thursday, weeks after the central bank clamped down on the fast-growing business.

Paytm plans to go slow on sub-50,000-rupee-loans (about $600), it said Wednesday, the first to announce such a move since the Reserve Bank of India (RBI), last month, told banks to set aside more capital to cover personal loans and lending via NBFCs on concerns that soaring demand could lead to higher risk.

On Thursday, a decade after its inception, Telangana got its second chief minister (CM), Anumala Revanth Reddy, and its first Dalit deputy CM in Mallu Bhatti Vikaramarka.

In his first decision after taking the oath, the 54-year-old CM began the process of implementing the Congress’ six poll guarantees, and his second plan is to provide jobs to disabled women.

SpiceJet, which has been grappling with a cash crunch for several quarters, announced on Thursday that its board is considering options for raising fresh capital through the issuance of equity or convertible securities on a preferential basis.

Last month, SpiceJet informed the Delhi High Court (HC) that it was “struggling to stay afloat” after the court mandated the airline to make a payment to its former owner, Kalanithi Maran, for outstanding dues.

London-based Vedanta Resources (VRL) is on the verge of securing a private loan amounting to $1.25 billion from various international investors, according to a report by The Financial Express (FE). This loan is strategically timed ahead of its $1 billion debt maturity in January 2024. The debt, anticipated to be finalised in the coming week, is expected to be raised at higher interest rates compared to existing ones.

Ahead of the Reserve Bank of India (RBI) monetary policy decision, HDFC Bank has increased its Marginal Cost of Funds-Based Lending Rates (MCLR) across select tenors by five basis points. With the latest increase in the rate of interest, loan EMIs linked to MCLR are expected to rise.

The Marginal Cost of the Fund-Based Lending Rate or the MCLR is the minimum interest rate a financial institution needs to charge for a specific loan. It dictates the lower limit of the interest rate for a loan. This rate limit is set in stone for borrowers unless specified otherwise by the Reserve Bank of India.

With sugar production expected to be down in the 2023-24 season, the central government has directed all sugar mills not to use sugarcane juice or syrup for making ethanol this year and has allowed the production of ethanol from B-heavy molasses as it is.

The 2023-24 sugar season started in October, while the ethanol supply year (ESY) started in November.

As the Parliament convenes on Day 4 of the ongoing Winter Session on Thursday Union Minister of State (MoS) for Education Subhas Sarkar on Thursday will move the Central Universities (Amendment) Bill, 2023 for further consideration and passage in Lok Sabha.

The Bill seeks to establish a Central Tribal University in Telangana which will be named 'Sammakka Sarakka Central Tribal University'. It will provide avenues of higher education and research facilities primarily for the tribal population of India.

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