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Reliance Industries Ltd is planning to implement an infrastructure investment trust (InvIT) to unlock value in its warehousing and logistics assets through Reliance Retail. The retail company has already created a trust called Intelligent Supply Chain Infrastructure Trust which will be used to house the warehousing assets to be monetised. The InvIT will either be listed or privately placed with at least five shareholders under SEBI norms.

Domestic fund house PGIM India Mutual Fund has sold its stake in Sagar Cement, while ICICI Pru Mutual Fund bought shares through a block deal on Tuesday.

Oil prices were little changed in early trading on Wednesday after industry data showed an unexpected build in U.S. crude and gasoline inventories, offsetting concerns about tightening supply ahead of output cuts by OPEC producers.

The major concern of the bidders is the compliance of the resolution plan with the Insolvency and Bankruptcy Code (IBC) and Request for Resolution Plan (RFRP) guidelines. In the first round of the auction, the Hinduja Group firm submitted the bid post-auction date.

Co-lending amounts more than quadrupled in just about a year with banks declaring such portfolios of more than Rs 25,000 crore in FY23, with State Bank of India (SBI) and Bank of Baroda at the top of the leaderboard. In FY22, disbursements were nearly Rs 5,000 crore through co-lending partnerships.

Last month, lenders decided to hold a second-round challenge auction to maximise recovery since the offers in the first round were very low, said people cited above. In the first round, lenders had received the highest offer of Rs 319 crore, which was much below their expectations, one lender said. The second round saw nine bidding rounds between Nalwa Steel and BTL.

Mainline retailers in India fear a sharp 50-60% fall in footfalls of Apple customers during the launch of new products in cities where the US smartphone major opens physical stores. The tech giant is opening its first physical store in India on April 18 in Mumbai and another in Delhi on April 20

"Call auction sessions are conducted on multiple stock exchanges. The discovered price / equilibrium price pursuant to such call auction sessions could be different on each exchange," Sebi said in a circular.

Ownership of foreign portfolio investors (FPI) in the bank has declined from 40.90% in the December 2022 quarter to 39.42% in the March 2023 quarter. As the shareholding is published before the MSCI price cut-off date for the May 2023 review, the weight increase is likely next month, said analysts.

The leading digital currency has surged 6.29% in the past 24 hours to reach $30,160 as of 2300 IST on Coinmarketcap. While it has risen by 72.62% in the last 90 days, it remains down by 23.82% year to date.