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Airtel remains a core investment in our international portfolio: Singtel

Singapore-based Singtel Group (Singapore Telecommunications Limited) on Friday said that Airtel remains a core investment in its international portfolio while referring to media reports that it was planning to sell a stake in Bharti Airtel worth up to $2 billion to Bharti Telecom.

In a press release, Singtel said, "We would like to make patently clear that we have been strategic investors in Airtel for decades and it remains a core investment in our international portfolio. As for the media hearsay, we do not comment on market speculation and abide by market disclosure rules pertaining to material transactions."

ONGC to invest Rs 31,000 cr over next 3 years in finding oil, gas

India's top oil and gas producer ONGC on Thursday said it will invest Rs 31,000 crore over the next three years in exploring the Indian sedimentary basin for fuel reserves which could augment the nation's production in its attempt to be self-reliant in the energy sector. In a statement, ONGC said its board held a meeting on Thursday to firm up its 'Future Exploration Strategy'.

Inventus launches new fund with target corpus of Rs 900 cr, rebrands itself

Early stage venture capital firm Inventus India on Thursday announced its rebranding as Athera Venture Partners, and also the launch of its fourth fund with a target corpus of Rs 900 crore (USD 120 million). Athera said its newly launched Fund IV worth Rs 900 crore is seeing interest from existing investors, financial institutions, overseas funds, and family offices.

Govt calls off BPCL privatisation process, will do 'comprehensive review'

The Centre has called off the privatisation process of Bharat Petroleum Corporation (BPCL) for now after two of the three companies that had shown interest in acquiring the public sector undertaking (PSU) withdrew their bids. Based on the decision of the Alternative Mechanism on strategic disinvestment, which comprises Finance Minister Nirmala Sitharaman, Roads and Highways Minister Nitin Gadkari, and the head of the ministry concerned (in this case Petroleum Minister Hardeep Singh Puri), the privatisation of BPCL and the expressions of interest received from the bidders stand cancelled, the Department of Investment and Public Asset Management (DIPAM) said in a statement. The decision on its re-initiation will be taken in due course following a review, it added.

Vedanta pledges 86% Hindustan Zinc stake in Q4 as govt preps to sell stake

Metals and mining major Vedanta has pledged 86.1 per cent of its shareholding in Hindustan Zinc in the quarter ending March 31, 2022, marking a sharp increase in pledged shares by the promoter versus the December quarter. Vedanta has a 64.9 per cent stake in Hindustan Zinc.

To put things in perspective, Vedanta had pledged only 22.8 per cent of its shareholding in Hindustan Zinc in the December quarter, which was valued at Rs 19,839.4 crore. This jumped to Rs 73,102 crore in the March quarter, data compiled by BS Research Bureau shows.

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