Top Headlines: Reliance to acquire METRO AG's India biz, Covid-19 alert

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Reliance Retail to acquire METRO Cash & Carry India for Rs 2,850 crore

Reliance Retail has signed a definitive agreement to acquire 100 per cent stake in METRO Cash & Carry India for a total cash consideration of Rs 2,850 crore, which is subject to closing adjustments. The transaction is subject to certain regulatory and other customary closing conditions and is expected to complete by March 2023. Read More
 

Mask up, take the jab, Covid is not over yet, Centre cautions citizens

Union Health Minister Mansukh Mandaviya on Wednesday chaired a review meeting of top health officials and experts on the country’s Covid preparedness and directed officials to be alert and reinforce surveillance amid a surge in novel coronavirus cases globally. Read More
 

Torrent wins race to acquire RCap with Rs 8,640 crore offer to lenders

Ahmedabad-based Torrent group has won the race to acquire Reliance Capital after making an offer of Rs 8,640 crore for the company in an auction held on Wednesday. This would help Torrent foray into financial services as it will acquire 100 per cent stake in Reliance General Insurance, and get 51 per cent stake in Reliance Nippon Life Insurance among other assets. Read More
 

Covid fears in China may have cascading impact on India's exports, imports

Any massive or large-scale lockdown there may have a cascading impact on India’s exports, as well as imports. The sectors at risk, as far as imports are concerned, according to trade bodies, include pharmaceuticals, automobile components, and electronic goods and parts. The importance of China as India’s top trading partner cannot be understated. Read More

FPIs pull out a record Rs 1.22 trn from Indian market so far this year

Foreign portfolio investors (FPIs) have pulled out Rs 1.22 trillion ($16.58 billion) from the Indian stock market so far this year and are on course to hit the highest-ever outflows in a calendar year. FPIs have turned net sellers in 2022 after being net buyers in the last three years. Read More