Financial Consultant

  Several Indian, as well as global companies, have shown interest in buying the media rights for the Indian Premier League’s (IPL) 2023–27 broadcast cycle,   Avaneesh Parasar   says. The 15th edition of the  Indian Premier League (IPL)  is currently underway in full swing, with 10 teams fighting it out in the group stage. But the Board of Control for Cricket in India (BCCI) has already geared up to take the tournament to the next level. The world’s richest cricket board has already started issuing the Invitation-To-Tender (ITT) to sell the  broadcasting rights for the next five-year cycle 2023–27 . Some of the biggest media companies including Disney, Zee, Sony, TV18-Viacom and Amazon have already purchased the tender documents in the last one week and several others like Apple and YouTube are also interested in associating themselves with the cash-rich league. According to a  Times of India report , the American tech giant Apple is expected to pick t...

  With Twitter’s May 25 annual meeting rapidly approaching, it’s probably too late for this year if Musk is aiming to push for drastic changes.   Avaneesh Parasar When Elon Musk disclosed his stake in Twitter Inc., he had a choice. Shareholders who intend to remain “passive” — those who don’t seek to influence or change control of a company — file a shorter form with the U.S. Securities and Exchange Commission, called a 13G. Those angling for board seats or seismic shakeups typically file a longer and more in-depth form, a 13D, within 10 days of buying their stake. The rule applies to anyone acquiring 5% or more of a public company’s stock. Musk announced his 9.2% stake by filing the 13G. But the billionaire, 50, isn’t exactly one to stay passive. The chief executive officer of Tesla Inc. and SpaceX has called out Twitter for “failing to adhere to free speech principles” and the need to root out cryptocurrency scams that are prolific on the social media platform, which was co-...

  As part of the deal, shareholders of HDFC Ltd will receive 42 shares of HDFC bank for 25 shares held,   Avaneesh Parasar Shares of HDFC Ltd and HDFC Bank surged more than 15% to ₹2,818 and 14% to ₹1,715 apiece respectively on the BSE in Monday’s early deals, after the companies announced plans to merge with each other. Meanwhile, the Nifty Bank index rose over 4%, while the finance index gained over 3%. India’s largest private lender HDFC Bank will merge with the housing finance company HDFC Ltd to create a financial services conglomerate, sending their shares sharply higher. “This mega merger will correct the recent underperformance of the HDFC twins. The stock prices of HDFC twins are likely to remain firm even after this morning’s sharp spike. From the valuation perspective the HDFC twins are even now only attractively priced in a highly valued market. FPI’s strategy of sustained selling in HDFC twins have been proved to a short-sighted decision,” said VK Vijayakumar, Che...

  Sri Lanka is in the midst of its worst economic crisis in years with rolling blackouts for up to 13 hours a day as the government scrambles to secure foreign exchange to pay for fuel imports,   Avaneesh Parasar Sri Lankan President Gotabaya Rajapaksa declared a nationwide public emergency late on Friday following violent protests over the country’s worst economic crisis in decades. In a Sri Lankan government gazette notification, Rajapaksa said the decision was taken in the interests of public security, the protection of public order, and to ensure the maintenance of supplies and essential services. On Thursday hundreds of protesters clashed with police and military outside President Rajapaksa’s residence in a suburb of the capital, Colombo. Police arrested 53 people and imposed a curfew in and around Colombo on Friday to contain sporadic protests that have broken out over shortages of essential items including fuel and other goods. The island nation of 22 million people is ...