The day's top stories include developments on Starlink, Vodafone Idea AGR dues, corporate action in Ola Electric and IDFC First Bank, IPL 2025 updates. The RBI's Repo Rate cut expectations also makes it to headlines along with SEBI's latest actions.
Vodafone Idea AGR Dues: No Decision Taken By Government Yet
The government has not yet taken a decision on the company's adjusted gross revenue dues and will stand by the Supreme Court's order, according to Minister of Communications of India Jyotiraditya Scindia.
The comments dampened hopes of relief for the debt-laden telecom operator, which has been seeking easier terms for repaying its massive AGR liabilities, and sent shares of the company sliding by more than 3% on Tuesday.
Read full story here
Starlink Close To Getting India Licence
India is moving steadily towards allowing satellite internet providers such as Elon Musk's Starlink to operate in the country, Communications Minister Jyotiraditya Scindia told NDTV Profit in an exclusive interview.
“We are eager to have that auction in India for our customers as soon as possible,” Scindia said. He added that the telecom ministry is “company agnostic and customer centric” in its approach.
Click here for the full story
Ola Electric Bulk Deal
Hyundai Motor Co. and Kia Corp. sold shares worth Rs 690 crore in Ola Electric Mobility Ltd. on Tuesday via open market transactions.
Hyundai offloaded 10.8 crore shares at Rs 50.7 apiece, aggregating to Rs 552 crore, exiting the company. Kia sold 2.7 crore shares at Rs 50.55 apiece, totaling Rs 138 crore., according to bulk deal data on the NSE.
Click here for the details
Warburg Pincus To Acquire Stake In IDFC First Bank
The Competition Commission of India has issued its nod to Warburg Pincus to acquire nearly 10% stake in IDFC First Bank, according to a statement issued by the fair trade regulator on Tuesday.
"CCI approves the proposed acquisition of up to 9.99% of the paid up share capital of IDFC First Bank Limited by Currant Sea Investments B.V.," CCI posted on social media platform X.
Read the full story here
IPL Finals 2025: RCB Vs Punjab Kings— Celebs Pick Sides
IPL 2025 finals are here. The much awaited big match between Royal Challengers Bengaluru and Punjab Kings will lead to crowing of a new winner.
Supporters of both the teams are going all over social media to show support for their favourite team. Virat Kohli to Shreyas Iyer, fans have been waiting for their favourite cricketer to lift the cup this year.
Click here for details
RBI Repo Rate May See Sharp Cut
Nomura expects the Reserve Bank of India to cut the repo rate by a 100 basis points from 6% to 5% by the end of 2025.
The brokerage firm noted an underperformance of both the gross domestic product growth (which sat at 6.2% compared to the RBI's projection of 6.5%) and inflation (which was 3.3% compared to the RBI's target of 4%), in its 'Asia H2 Outlook' report.
Nomura credits this "undershoot" as the reason why it expects the central bank to further reduce policy rates, including the repo rate.
Click here for the details
SEBI Introduces New Process For Sale Of Pledged Securities
The Securities and Exchange Board of India has introduced an automated process for the invocation and sale of pledged securities in the depository system.
The change aims to simplify operational challenges faced by brokers under the current framework.
As per the new circular released on Tuesday, when a client sells securities that have been pledged as margin, the depositories will provide a single instruction facility called 'pledge release for early pay-in'.
Read the full story here
Stock Market Highlights: Nifty, Sensex Close Lower
The benchmark equity indices closed lower for the third consecutive session on Tuesday, dragged down by shares of HDFC Bank Ltd. and ICICI Bank Ltd.
The NSE Nifty 50 ended 174.1 points or 0.7% lower at 24,542.5, while the BSE Sensex closed 636.24 points or 0.78% down at 80,737.51. During the day, the Nifty fell 0.87% to trade at 24,502.15 and the Sensex declined 0.98% to trade at 80,575.09 mark.
Read the full story here
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
