Rs 191 crore
What is it? Amount paid by UK-based Bupa Plc. to raise its stake in Max Bupa Health Insurance Co Ltd, India’s seventh largest health insurance firm, from 26% to 49%.
Why is it important? This is the first deal after the government increased foreign direct investment limit to 49% in domestic insurance firms earlier this year. Indian partner, Max India, will hold 51% and also management control.
Tell me more: Max India, which sold 23% stake for an all-cash deal, will use the money to buy majority stake in Delhi-based hospital, Saket City Hospitals Pvt. Ltd.
Rs 15,000 crore
What is it? Gammon India’s debt that has been converted into equity by its lenders.
Why is it important? Creditors will now hold majority stake in Gammon India. The exercise is part of a new strategy – called, strategic debt restructuring – to manage bad loans where debt is converted into equity. In the second step, a new investor and management is brought in to manage the company.
Tell me more: Gammon India is the sixth company where lenders have acquired majority stake by converting debt into equity.
$ 1 billion
What is it? Penalty waived off by Qatar after Petronet LNG, India’s largest importer of liquefied natural gas, reneged on its 25-year contract with the gulf nation. As a part of the deal, benchmark price was also revised. It will now be based on three-month average of Brent crude as compared to 60-month average of Japanese crude oil price.
Why is it important? Downward revision of prices will lower cost of LNG to $7-8 per million British thermal unit as against current price of $ 12-13. If passed on, customers will benefit from lower cooking and fuel gas prices.
Tell me more: Slump in global gas prices – almost 50% in last one year – prompted buyers to prefer spot markets where cost was lower.
What is it? The number of women with only one child who is a girl, according to the latest census data.
Why is it important? It’s significantly lower than the number of women with single child, who is a boy, which is, 28.5 million. Confirms the continuity of prevalence of male child preference and prenatal sex determination. The gap – 6.5 million – represents the missing girl child.
Tell me more: The skewed sex ratio continues for women who had two and three children.
What is it? LME (London Metal Exchange) Metal Index, which consists of six primary metals including copper, aluminium, lead, tin, zinc and nickel.
Why is it important? It’s 6-year low for the index and comes on the back of weak economic data from China. Raw material intensive sectors like auto and auto components, and power equipment would benefit from lower metal prices, while metal producers will be hit.
Tell me more: Operating profit margins of 142 manufacturing firms rose to the highest level since June 2014 because of decline in commodity prices.