Morning Buzz: Vi's revival plan, slow disinflation, Maruti Suzuki's costliest MPV, and more
Here are the top business headlines this morning to get your day started
Vodafone Idea proposes to inject Rs14,000 crore of growth capital into the company. Image: Anushree Fadnavis / REUTERS
Vodafone Idea (Vi) revival plan Rs 14,000 crore equity infusion
Vodafone Idea proposes to inject Rs14,000 crore of growth capital into the company as part of its revival plan. Existing promoters, UK’s Vodafone Group and India’s Aditya Birla Group, will bring in half of the total amount. Vi, in which the government is the largest stakeholder, has continued to lose subscribers and market share to the top two rivals, Reliance Jio and Bharti Airtel, and its total debt stood at Rs2.09 lakh crore. This infusion of capital is urgently required to boost its 4G and later 5G infrastructure.
(Economic Times)
Disinflation process to remain slow, says RBI governor
The Reserve Bank of India Governor Shaktikanta Das says they expect the disinflation process to be slow and protracted, with the target of 4 percent being achieved only over the medium term. The inflation of 5.1 percent for the current year will be higher than the bank’s comfort zone and thus suggests that despite the 25-month-low inflation seen earlier this week, interest rates are unlikely to come down fast.(Economic Times, Times of India, Financial Express, BQ Prime)
