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Mid-day break… with EZ Wealth – September 21, 2021
[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_single_image image=”67679″ img_size=”large” alignment=”center”][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]Nestle India increases prices by 1-3% as commodity costs rise
Nestle India Ltd. increased prices across its product portfolio by 1-3% as commodities like milk and coffee continue to turn costlier. “Because of the global context of raw materials and also because of large economies globally are opening up strongly, there would be pressures on raw materials going forward,” Suresh Narayanan, chairman and managing director at Nestle India, said at a press conference. “The forward pressures are likely to be more acute than what we have been through at the moment.” Globally, costs of commodities like coffee, milk and packaging have seen a 4-5% uptick, he said. That came as demand rose with economies opening up after vaccination picked up pace. The maker of Maggi instant noodles saw rural growth outpace urban consumption for a few quarters.
DHFL creditors all set to get paid, finally
Financial creditors to Dewan Housing Finance Corp. are set to get paid over the next few days, as the insolvency process comes to a close. On Monday, creditors led by State Bank of India signed a debenture transfer agreement with Piramal Group, three people in the know confirmed. These agreements will allow lenders to take over debentures issued by Piramal Group against DHFL’s loans. After this, Piramal Group will pay the Rs 12,700-crore upfront cash consideration, out of its Rs 38,000 crore bid for DHFL. After this transaction is completed, Piramal Group can fully take over the assets and businesses of DHFL, under the Insolvency & Bankruptcy Code. Piramal Group had originally won the bid for DHFL in January this year after a majority of the creditors voted for its bid over competitor Oaktree Capital
Indian Pharma Market grew double digit In August
The Indian pharmaceutical market grew last month, led by demand for therapies of multiple ailments at a time when infections owing to the Covid-19 pandemic fell. Data from All Indian Origin Chemists and Distributors Ltd. pegged growth at 17.7% year-on-year in August—compared with a 13.7% rise in July and a contraction of 2.2% in August 2020. Low spread of Covid-19 wave 3 will augur well for the Indian pharma market to maintain healthy growth of its core portfolio in second half of FY22
HDFC announces home loans at 6.7% as festive offer
Under this special offer, customers can avail HDFC Home Loan starting at 6.70 percent effective 20th September 2021. This offer will be applicable to all new loan applications irrespective of the loan amount or employment category. The special rate is linked to the borrower’s credit score. This is a close-ended scheme and will be valid till 31st October 2021
SpiceJet gets shareholders’ nod to transfer logistics business on slump sale basis to subsidiary
shareholders have approved the transfer of its cargo and logistics services business to a subsidiary, on a slump sale basis, through an all-share deal worth over Rs 2,555 crore, a move that will help the airline to significantly reduce its negative networth. Besides, the shareholders have cleared the proposal to raise up to Rs 2,500 crore through the Qualified institutional placement (QIP) route.[/vc_column_text][vc_column_text]
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