Top Headlines: RBI likely to hold interest rates; Softbank to back Flipkart

Decisions made by the RBI's monetary policy committe will be announced at 10am. Sensing opportunity in the Covid-19 pandemic, private equity (PE) plaers are upping their investments in healthcare space. Our top headlines on Friday track the latest developments

5 key things to look for in RBI monetary policy

The Reserve Bank of India (RBI) is expected on Friday to hold interest rates after a three-day meeting of its Monetary Policy Committee (MPC). The policy will likely maintain an accommodative stance, as helping economic growth remains priority. 

Growth forecast is likely to be trimmed in the policy announcement. The market will look out for RBI’s GDP growth forecast for the financial year. Read More

PEs pour $584 milllion into healthcare in 2021

Sensing a huge opportunity in the healthcare sector during the Covid-19 pandemic and its aftermath, private equity (PE) players are upping their investments in the space.

According to data from research platform VCCEdge, the PEs have together invested a staggering $583.82 million in the first five months of 2021 in five deals, which is the highest investment in the sector in the last five calendar years — from 2016 to 2020. 

The second highest investment in the sector took place in 2017 when PEs invested $503 million in 18 deals. Read More

Reliance Industries set for windfall gain from oil, gas vertical

Reliance Industries (RIL) is most likely headed for bumper gains from its exploration and production vertical in FY22. According to Harsh Dole, vice-president of IIFL, the commercialisation of key gas discoveries of RIL are no less than a game-changer. 

FY22 will be a watershed year for them (RIL) in the upstream business.

“This is because the Deepwater R-Cluster field, commercialised in December 2020, has been ramped up and they have commercialised Satellite Cluster ahead of time. Gas production will itself be substantially higher than last year,” Dole told Business Standard. Read More

Govt in talks with Pfizer, Moderna on local vaccines

India is in discussion with top US vaccine manufacturers -- Pfizer, Johnson & Johnson, and Moderna -- on the manufacturing of their vaccines in the country to strengthen the inoculation drive in the country.

“We are part of the discussion with major vaccine manufacturers about sourcing and manufacturing their vaccines locally. We have also helped to expedite the introduction of Sputnik-V vaccines,” Foreign Secretary Harsh Vardhan Shringla said on Thursday. Read More

Mehul Choksi's cruise to Caribbean

Fugitive jeweller Mehul Chinubhai Choksi, aka Pappu bhai, is now at the centre of a dramatic tabloid scene in the Caribbean Islands.

 He awaits a decision from the authorities on whether he can continue to stay in the country or be returned to either Antigua or India, depending on the status of his immigration and the legalities of extradition for alleged fraud and white collar crime.

But then drama has always been part of Choksi’s life. Read More

Masayoshi Son-led SoftBank Group may invest $700 million in Flipkart

Masayoshi Son-led SoftBank Group Corp is in talks with Flipkart to invest $700 million in the e-commerce giant.

Japan’s SoftBank is looking to invest in Flipkart, three years after it sold its entire stake in the company to Walmart Inc, the world’s largest retailer.

It has been reported that the financing is part of a larger $2 billion round. Sovereign wealth funds such as Abu Dhabi’s ADQ and Canada Pension Plan Investment Board (CPPIB) are expected to participate in this round. Read More