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Reserve Bank of India will conduct a three-day variable rate reverse repo operation. The operation is for 1 lakh crore on Tuesday. This announcement was expected due to the fall in overnight rates. The reversal of the three-day VRRR will occur on Friday. 1.52 lakh crore will return to the banking system then.
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News and Media
PV Krishna Reddy, managing director of MEIL, is seeking 1,500 crore in debt financing from firms like Elham Credit and Oaktree Capital to fund the buyout of his uncle's 51% stake in the company. The deal, valued at 12,000-15,000 crore, aims to consolidate Krishna Reddy's ownership.
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News and Media
Ola Electric shares surged 20% following better-than-expected Q1 results, showcasing narrowed losses and improved margins. Revenue increased to 828 crore, driven by successful Gen 3 scooter launches. Despite a bullish outlook and retail investor interest, analysts advise caution due to market share competition and past overly optimistic guidance, suggesting a high-risk profile for the stock.
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News and Media
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