Airtel Africa will raise 200 million dollars from Qatar Investment Authority, through a primary equity issuance. The amount will be used to reduce the subsidiary's debt to 3.5 billion dollars. The development comes amid Airtel's plans to launch an initial public offering after raising 1.25 billion dollars from the pre-IPO funding round. Bharti Airtel will announce its Q3 results today and there is a possibility, it may report a sharp loss on it's bottomline. 

In a bid to conserve resources to fight the pandemic, the&nbsp;Ministry of Finance has put approval for new schemes&nbsp;on hold for the current financial year. Schemes already approved for this fiscal year have also been put on hold until the end of March 2021, except those come under&nbsp;the Atmanirbhar Bharat and Pradhan Mantri Garib Kalyan Yojana.&nbsp;

Reliance Industries Limited&nbsp;on Friday said American private equity giant Silver Lake and co-investors will invest an additional ₹4,546.80 crore in Jio Platforms for a total equity stake of 2.08%.&nbsp;The aggregate investment by Silver Lake now stands at ₹10,202.55 crore. The private equity giant had on May 4 bought 1% of Jio Platforms for ₹5,655.75 crore. This will be the seventh investment in RIL in 6 weeks, following those by social media major Facebook, sovereign fund Mubadala, Vista Equity Partners, KKR &amp; Co Inc, and General Atlantic.&nbsp;Jio&nbsp;has raised a striking ₹92,202.15 crore from global investors for a total of 19.9% stake.

The Indian stock markets ended near a three-month high on Friday led by gains in metals and banking stocks. The Sensex&nbsp;ended the day 306 points in the green and the Nifty surged 1.13% to close the session at 10,142.
Tata&nbsp;Motors, SBI, Infratel, Tata&nbsp;Steel and Hindalco were the top index movers.
Sensex&nbsp;and Nifty&nbsp;gained 6% each during the week as PSU&nbsp;banks rallied the most. The Nifty PSU&nbsp;Bank index surged over 22% this week.
The rupee surrendered all intra-day gains to close on a flat note at 75.58 against the US dollar.
&nbsp;

State Bank of India on Friday reported over a four-fold year-on-year jump in its standalone net profit at ₹3,580.81 crore for the March quarter. The gross NPA&nbsp;ratio improved to 6.15% as against 7.53% in the same period of 2019. Net NPA&nbsp;stood at 2.23% as compared to 3.01% in the corresponding quarter of the previous year.
&nbsp;

The country's&nbsp;largest&nbsp;carmaker,&nbsp;Maruti Suzuki on Friday announced that it had commissioned its second solar power plant in Gurugram coming at an investment of&nbsp;₹20 crore. Underlining its commitment towards a greener future on World Environment Day, the company informed that this plant will provide a power output of 7,010 megawatt&nbsp;each year. It established its first solar power plant in Manesar back in 2014.

The government has extended anti-dumping duty on a certain variety of steel products till December 4 this year with a view to guard domestic manufacturers from cheap imports coming from China, Malaysia and Korea. The duty on imports from the said countries was first imposed by the finance ministry on June 5, 2015, for five years. Metal stocks witnessed&nbsp;fresh buying as the Nifty Metal index rose 2.77% post the development.

State-run State bank of India's board will meet on June 11 to decide on long-term fundraising&nbsp;of as much as $1.5 billion in single or multiple tranches.&nbsp;The transaction could be done through public offer or private placement of bonds in US dollar&nbsp;or any other convertible currency during FY21.

Equity markets opened higher on Friday following gains in metal and banking stocks.
At 9:40 am, the Sensex was 290 points up at 34,271 and the Nifty rose over 1% to trade above 10,100.
Tata&nbsp;Motors, Tata&nbsp;Steel, UPL, Infratel&nbsp;and JSW&nbsp;Steel were the top five nifty movers.

Abu Dhabi-based sovereign investor Mubadala Investment Company will buy 1.85% stake in Mukesh Ambani's Jio Platforms for&nbsp;₹9,093&nbsp;crore, RIL&nbsp;said on Friday.&nbsp;With the sixth deal, Jio has raised ₹87,655&nbsp;crore by selling 18.97% of its stake in less than seven weeks. The latest transaction gives Jio Platforms an equity valuation of ₹4.91 lakh&nbsp;crore and an enterprise value of ₹5.16 lakh&nbsp;crore.

The Supreme Court on Thursday has sought finance ministry's reply by June 12, on waiver of interest on loans during the moratorium period.&nbsp;The top court said there were two aspects under consideration in this matter &mdash; no interest payment on loans during the moratorium period and no interest to be charged on interest. On May 26, the top court had asked the Centre and the RBI to respond to the plea challenging the levy of interest on loans during the moratorium period. To which,&nbsp;RBI replied saying it would not be prudent as it will risk the financial viability of the banks.
&nbsp;
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Amazon.com is in early-stage talks to buy a stake worth at least $2 billion in telecom operator Bharti Airtel, according to a report in Reuters, underlining the growing attraction of India's digital economy for US tech giants. The planned investment, if completed, would mean Amazon acquiring a roughly 5% stake based on the current market value of Bharti, which is India's third-largest telecom company with more than 300 million subscribers. The discussions between Amazon and Bharti come at a time when global players are placing major bets on the digital arm of Reliance Industries, which owns Bharti's rival Jio. Reliance's digital unit has raised $10 billion in recent weeks from Facebook, KKR and others. An Amazon spokeswoman said the company does "not offer comments on speculation of what it may or may not do in future."

Indian equity markets fell on Thursday after a very volatile session due to weekly expiry.
The Sensex&nbsp;ended 128 points lower, while the Nifty fell 0.32% to close a bit above 10,000.
Asian Paints, Bajaj&nbsp;Finance, HDFC, IndusInd&nbsp;Bank and Kotak&nbsp;Bank were the top losers. Whereas, Vedanta, Bharti&nbsp;Airtel, Zee, Tech Mahindra&nbsp;and Sun Pharma&nbsp;were among the top Nifty gainers.
The rupee depreciated 10 paise to close at 75.57 against the US dollar.&nbsp;

UK&rsquo;s Standard Life has sold 4 crore shares in HDFC Life through block deals on Thursday to raise up to ₹1,960 crore.&nbsp;Standard Life will sell stake in HDFC Life&nbsp;at 490&ndash;501 per share on June 4. The UK-based firm has divested nearly 17% stake in HDFC Life since January last year. Standard Life held 29.25% stake as on December 2018, which has reduced to 10.27% in HDFC Life.
&nbsp;

The&nbsp;₹53,125-crore rights issue of Reliance Industries&nbsp;was subscribed 1.6 times as it closed on Wednesday, in a major boost to the oil-to-telecom conglomerate&rsquo;s efforts to erase its debt.&nbsp;The shares will be allotted on or around June 10 and the rights shares are expected to be listed on BSE and NSE on or around June 12.

The country's largest stocks buyer, LIC may cut its equity investment target to about ₹30,000 crore for the current year, Hindustan Times reported. The investment would be the lowest in a decade as new premium growth declined amid coronavirus-related disruptions.&nbsp;LIC invested around ₹47,000 crore in stocks in the financial year 2020, which was&nbsp;21% less than the previous fiscal year.

The Union Minister of Commerce &amp; Industry&nbsp;Piyush Goyal&nbsp;in a webinar with real estate developers on Wednesday asked them to reduce prices and sell their inventory rather than wait for the market to bounce back. He added that if developers feel the government will finance them and they will hold out longer for the market to improve, "the market will not recover in a hurry&rdquo;. "Things are seriously stressed and your best bet is to sell," he said.

Equity markets opened higher on Thursday following gains in the global peers.
At 9:25 am, the Sensex was 129 points up at 34,239 and the Nifty rose 0.53% to 10,115.
Vedanta, UPL, Tata&nbsp;Motors, Tech Mahindra and GAIL were the top Nifty gainers.

India has been unable to reduce the Covid-19 growth rate while the&nbsp;quasi hard lockdown has flattened the wrong curve, said industrialist&nbsp;Rajiv Bajaj while speaking to Congress leader&nbsp;Rahul Gandhi on the economic fallout of the Covid-19 crisis. "Our lockdown was porous and decimated the economy. We flattened the GDP curve instead of the infection curve,&rdquo; the Managing Director of Bajaj&nbsp;Auto said.&nbsp;
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Fugitive businessman Vijay Mallya is not flying back to India anytime soon. After feverish speculation in the media on Wednesday night that Mallya, who owes Indian banks thousands of crores and lives the high life in London, was to be put on a plane to India, The Times of India reported on Thursday that nothing of that sort was happening. Quoting an officer at the Indian high commission in London, the report said that there is no extradition as of now and media got it all wrong.

Australia&rsquo;s economy shrank last quarter, setting the scene for what could be the nation&rsquo;s first technical recession in three decades. The entire business sectors were shut down due to the coronavirus&nbsp;outbreak. Data from the Australian Bureau of Statistics showed the economy contracted by 0.3% in the first quarter ended March, the first drop in nine years.
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Bharti earnings today, Africa arm raises $200 m

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Bharti earnings today, Africa arm raises $200 m

Jan 31, 2019 13:29 IST

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