Adani Group prepays share-backed loan

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⭐ Adani Group prepays share-backed loan 

Adani Group said it had completed full prepayment of margin-linked share-backed financing worth $2.1 billion. In addition, the company’s promoters also prepaid a $500 million facility taken for Ambuja acquisition financing. The prepayment was done well before the committed timeline of 31 March 2023.

⭐ RBI clears IndusInd Bank CEO reappointment   

The private lender has received approval from the Reserve Bank of India (RBI) to reappoint Sumant Kathpalia as its MD and CEO for two years, effective from 24 March 2023.

⭐ India’s Vehicles exports decline 

India’s export of vehicles declined by nearly 35% YoY in February. Combined exports of two-wheelers, passenger vehicles and three-wheelers fell to 3 lakh units compared to 4.6 lakh units in February 2022. Low exports were mainly due to the weakening of currencies against the US dollar in destination countries, leading to lower foreign reserves and a fall in demand.

Global markets (at 9:00 AM today)

Fact of the day

India’s net direct tax collection grew 17% YoY to ₹13.7 lakh crore in the ongoing fiscal year.

Source: LiveMint