This week in the financial sectors witnessed a whirlwind of varied events. From the Reserve Bank of India (RBI) grappling with inflation concerns to Disney+ Hotstar facing a significant dip in subscribers. The merger talks between Zee Entertainment and Sony also made headlines, while the Adani Group remained in the spotlight for various reasons. Let’s dive into the major stories that shaped the week.
RBI’s Inflation Concerns
The Reserve Bank of India (RBI) has kept its principal lending rate unchanged amidst renewed inflation worries, primarily due to a surge in food prices. This decision marks the third consecutive time the monetary policy committee has chosen to maintain the repo rate. The Indian rupee also showed a slight dip against the U.S. dollar post this announcement. Read the full article here.
Disney+ Hotstar’s Subscriber Dip
Disney+ Hotstar witnessed a drop of 1.25 crore subscribers this quarter, with the absence of IPL cricket content being a significant factor. The platform’s loss of IPL digital rights to Viacom18, backed by Mukesh Ambani‘s Reliance Industries, has been a game-changer, with JioCinema streaming the IPL for free. Read the full article here.
Zee-Sony Merger Gets Green Light
Shares of Zee Entertainment soared after the National Company Law Tribunal approved its merger with Sony’s India unit. This merger has faced multiple challenges, from opposition by lenders to investigations, but this approval paves the way for a new media giant in India. Read the full article here.
Adani Wilmar’s Market Movements
Shares of Gautam Adani’s Adani Enterprises saw fluctuations amidst rumours of a potential stake sale in Adani Wilmar. However both the Adani Group entities termed the reports as speculations but denied saying much on the subject. Read the full article here and here.
Deloitte Resigns as Adani Ports Auditor
In a significant move, Deloitte has reportedly stepped down as the auditor for Adani Ports and Special Economic Zone Ltd. This decision comes amidst increased scrutiny of the Adani Group and past concerns about the group’s financial transactions. Read the full article here.
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