What is it? The amount infrastructure company GMR Group is looking to raise in the next two years by selling stakes in its airports and energy businesses.
Why is it important? It will help cut down its debt levels (Rs 410 billion net debt at present) and repay investors in its airport business. Over one-third (37%) of its group debt has been downgraded to ‘default’, which means the company’s likelihood of meeting these debt obligations on time are the least, according to a recent report by Credit Suisse.
Tell me more: Infrastructure companies borrowed heavily anticipating economic growth but ended up facing a range of roadblocks, including downturn, delay in getting coals for their plants and government approvals.
Rs 139 crore
What is it? Total amount received by the Indian National Congress party in the form of donations (above Rs 20,000) in 2014-15 for which it has not declared the mode of contribution.
Why is it important? That’s 98% of total donations above Rs 20,000 in 2014-15. Without the mode of contribution, it would be difficult to link the donors against their donations and trace the money trail. This goes against a September 2013 Supreme Court order that has stipulated that none of the columns in the forms to declare donations above Rs 20,000 should be left blank. Transparency in donations to political parties is necessary to allow public scrutiny for strengthening democracy.
Tell me more: The Bharatiya Janata Party, the top recipient of donations above Rs 20,000, declared an amount of Rs 83.9 lakhs from 20 donors where it has not provided PAN details, address and mode of contribution. BJP, CPM and CPI have received a total of Rs 303.4 crore in which they have not filled in the ‘address’ column of the donors.
What is it? Year-on-year growth in monthly sales of Myntra, an online fashion retailer owned by Flipkart, in October 2015.
Why is it important? Myntra moved to app-only platform in May this year. Its growth since then appears to have slowed down (from 100-200% growth earlier), even accounting for the higher base. But, for Myntra, it could be a part of long term strategy. Myntra says the customer experience is better on apps.
Tell me more: Myntra says it has an annualized gross sales of $500 million as of October, as against $400 million in May when it decided to go app only.
What is it? Number of workers – machine operators, floor supervisors, security personnel and peons – at a 300-people strong aluminium foils factory in Sanand, Gujarat, with more than Rs 1 crore in their bank accounts, according to a Times of India report.
Why is it important? An example of the impact of Gujarat government buying 4,000 hectares of land over the last seven years in the automobile hub. For the factory it means the human resource challenge of dealing with crorepati employees – and retaining them as these jobs are no longer their primary source of income.
Tell me more: After Tata Motors relocated it’s Nano factory from West Bengal to Sanand in Gujarat, the area has seen rapid industrialisation.
What is it? Price of US crude oil per barrel at 0300 GMT on Tuesday.
Why is it important? This is close to seven-year-lows. An indicator of discord among 13 member Organization of the Petroleum Exporting Countries, which failed to arrive at an oil production ceiling last week. Oil companies stocks have taken a beating. Lower oil prices however will help net oil importers control inflation better.
Tell me more: OPEC countries’ production of over 30 million barrels per day has pushed production 0.5 million to 2 million barrels per day beyond demand.
News In Numbers: July 27
The percentage of people injured in a road accident in India in 2014 who died. As many as 21 states and union territories register a number higher than the all-India average, with the worst being Punjab (52.8%), UP (49.7%) and Bihar (41.5%). On Sunday, addressing the nation, Prime Minister Narendra Modi said the government was working on a scheme to provide cashless and automatic medical treatment to victims for the first 50 hours of an accident.
The decline in oil production recorded by state-owned ONGC from its own operations (excluding its joint ventures) in 2014-15, over 2013-14. Its gas production also fell, by 5.4%. With its aging oil and gas fields showing stagnant or declining production for some years now, India’s largest oil and gas producer needs its new fields to start delivering. An unnamed senior official of ONGC was recently quoted as saying that the company would invest $8.8 billion (about Rs 55,000 crore) to operationalise its discoveries in the Krishna-Godavari basin by 2018-19.
Rs 1,600 cr
The amount the government is expected to raise by selling 5% of its shareholding in Power Finance Corporation, the auction for which is being conducted today at a base price of Rs 254 per share. The government has set a target of mopping up Rs 69,500 crore in 2015-16 from the sale of its shares in public sector undertakings. This is more than twice of what it realized in 2014-15 and is about 4% of its overall revenues in 2014-15.
Percentage of engineers in the batch of 2014 of Indian Institute of Management Kolkata. Similar dominance of engineering students in MBA programmes is reported in other IIMs also. In order to address criticism that the multiple-choice question format of the entrance exam to IIMs favoured engineers, and to add diversity to the student profile, the Common Admission Test (CAT) will see descriptive questions being added to the test this year.
Number of women in the list of 20 most marketable sportpersons in the world, according to the London School of Marketing. The two women are tennis players Maria Sharapova (rank 12) and Serena Williams (rank 20). Cricketer MS Dhoni was the only Indian in the list, at number 9. But having retired from test cricket late last year and with the team he leads in the Indian Premier League banned for two years, even this position for Dhoni might be under threat.
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