BENGALURU: MakeMyTrip has launched a two-part capital raise comprising a public equity offering and a private convertible note issuance, with the combined proceeds to be used for repurchasing a portion of its Class B shares from Trip.com Group, a travel agency headquartered in Shanghai, China.At MakeMyTrip’s last close of $100.88 apiece, the two transactions total…
The Competition Commission of India (CCI) on Tuesday approved logistics services provider Delhivery’s proposed acquisition of a 99.4% stake in Ecom Express for a cash consideration of up to Rs 1,407 crore.“The proposed combination comprises the acquisition of at least 99.44 per cent of the equity and preference shareholding (on a fully diluted basis) of…
The rupee weakened by 30 paise to close at 86.34 against the US dollar on Tuesday, pressured by a sharp rise in global crude oil prices and growing geopolitical uncertainty in the Middle East. A stronger greenback and muted domestic equity markets further weighed on the local unit.At the interbank foreign exchange market, the rupee…
NEW DELHI: India’s thirst for oil will rise increase than any other country at a million barrels per day (bpd) over the next five years, making it the main driver of global demand growth, the International Energy Agency said in its forecast to 2030 released on Tuesday.India currently consumes under 5 million bpd, 85% of…
Pakistan and the United States have agreed to intensify negotiations on reciprocal tariffs with the aim of finalising a bilateral trade deal through continued technical engagement, according to Radio Pakistan.The agreement was reached during a virtual meeting on Monday between Pakistan’s Finance Minister Muhammad Aurangzeb and US Commerce Secretary Howard Lutnick, where the two sides…
China’s President Xi Jinping on Tuesday US President Donald Trump’s tariff imposition and said that the protectionist approach was “bound to harm others and oneself”.“Tariff wars and trade wars have no winners. Unilateralism, protectionism and hegemonism are bound to harm others and oneself,” AFP quoted Xi saying, citing state media Xinhua.He was speaking at the…
Global oil demand will decline slightly in 2030 for the first time since the 2020 Covid shock, the International Energy Agency (IEA) said on Tuesday, as slower economic growth, electric vehicle adoption, and energy transition efforts reshape the market.In its annual Oil 2025 outlook, the Paris-based agency forecast that global oil consumption would peak at…
Gold-Silver rate today: Silver futures surged to an all-time high of Rs 1,07,425 per kg on Tuesday, tracking strong global cues and optimism over rising industrial demand after better-than-expected retail data from China. In contrast, gold prices corrected sharply by Rs 1,200 amid profit-taking.On the Multi Commodity Exchange (MCX), July silver contracts rose Rs 860…
In a move aimed at managing the Centre’s market borrowings, the Reserve Bank of India (RBI) on Monday announced the reissue of government securities worth Rs 27,000 crore in two separate tranches. The auction is scheduled for June 20.According to a notification from the Finance Ministry, the RBI will reissue Rs 15,000 crore of the…
Defence and aerospace stocks saw renewed momentum in Tuesday’s intraday trading session as intensifying geopolitical tensions in the Middle East and expectations of a higher defence allocation in the upcoming budget spurred investor interest.Leading the gains was Data Patterns (India) Ltd, which surged 3% to a day’s high of Rs 3,049.50. Bharat Dynamics Ltd (BDL)…
