Shares of Vodafone Idea soared after reports said that the Indian telecom giant was in discussions with state-owned lenders Power Finance Corp (PFC) and REC to secure loans for its medium-term funding requirements. Vodafone Idea and its parent company, Aditya Birla Group (ABG), have been in discussions with PFC and REC for the past fortnight, according to a report by The Economic Times.
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When John D Rockefeller wanted to punish a rival, he cut prices to force them to operate at a loss. The father of the modern oil industry had a name for it: a “good sweating.” A century later, OPEC+ is giving Big Oil the modern equivalent of Rockefeller’s time-tested tactics. Not everyone will be fit enough for it. For the last two-and-a-half years, Big Oil has enjoyed a bonanza.
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The non-life insurance industry recorded its slowest growth of the current fiscal in August, dragged down by a decline in premiums at large state-run general insurers. The GDPW for the industry increased by a paltry 4.22% YoY to Rs 24,554 crore. Non-life insurers comprise public and private general insurance companies, standalone health insurers, and specialised public sector insurers.
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