Monday, November 25
The Abu Dhabi Investment Authority acquired an undisclosed number of SpiceJet shares on the open market. A SpiceJet representative said, "Yes, ADIA has acquired shares of the airline from the open market." The ownership of foreign institutional investors (FIIs) in SpiceJet has increased from 0.3% in Dec 2023 to 6.2% in Feb 2024.
India's reforms and technological leap, under the leadership of Sherpa G20 Amitabh Kant, have positioned the country as a global outlier of development. With a focus on digitization, technology adoption in banking, and a thriving startup ecosystem, India is carving its niche in the new world through its strengths and collaborations.
Paytm shares rose by 16.65 points or 4.13% on Friday from its previous close. Paytm and its payments bank unit announced the termination of certain inter-company agreements to reduce dependencies. Paytm Payments Bank aims to strengthen operations and enhance transparency by streamlining its shareholders' agreement. SVF India Holdings Ltd., a SoftBank affiliate, reduced its stake in the company.
Govt on Thursday raised March price of natural gas produced from domestic fields under legacy financial and regulatory regimes by about 4% to $8.2 per unit (million metric British thermal units) but consumers will not be impacted due a $6.5 price cap in the current pricing mechanism. The government had in April 2023 linked domestic gas pricing to ‘Indian basket'.
