Top Headlines: US to consult India on Ukraine, India Inc faces falling margins

Moscow launched a full-scale invasion of Ukraine even as the West announced a new round of tougher sanctions to punish Russia. Closer to home, Indian companies face shrinking profit margins as the crisis in Eastern Europe pushed crude oil prices above $100 a barrel for the first time since 2014 .

US to consult with India on Ukraine crisis, Joe Biden says

President Joe Biden said on Thursday that the United States would consult with India on the crisis in Ukraine following a military operation by Russia. He was responding to a question whether India fully agreed with the United States on Russian aggression. It is understood that India and the United States are not on the same wavelength on the Ukraine crisis. India has a historic and time-tested friendship with Russia. At the same time, its strategic partnership with the United States has grown at an unprecedented rate over the past decade and a half. Read more

Biden unveils new sanctions against Russian companies after Ukraine attack

President Joe Biden on Thursday unveiled tough new sanctions against Russia after Moscow launched an all-out invasion of Ukraine, imposing measures to prevent Russia from doing business in the world’s major currencies as well as sanctions against banks and public enterprises. Read more

LIC IPO deadline? The government in wait-and-see mode in the face of the Russian-Ukrainian crisis

The Center will wait and watch developments affecting equity markets following a Russian-Ukrainian offensive before taking a call to postpone the initial public offering (IPO) of India’s Life Insurance Corporation (LIC). So far, there is no discussion about postponing LIC listing. The government is continuing its roadshows for the public offering, a government official informed. Read more

Crisis in Ukraine: India Inc faces falling margins as crude oil prices soar

The recent surge in crude oil prices will lead to a sharp decline in India Inc’s margins and profitability in the next quarter. Historically, there has been a negative correlation between international crude oil prices and earnings before interest, taxes, depreciation and amortization, or operating margins of listed companies. The greatest impact is expected to be felt by manufacturing companies and those dependent on petroleum-based raw materials. Read more

BharatPe investors refuse Grover’s offer to sell stake for Rs 4k crore

BharatPe’s top investors have turned down an offer by co-founder Ashneer Grover to sell his 9.5% stake in the fintech start-up for more than Rs 4,000 crore if they want him out of the business , according to informed sources. Grover appears to have valued the payments company at around $6 billion – well above its $2.8 billion valuation after a fundraising round last August. However, the company was eyeing a further raise in January this year to a valuation of around $4 billion. Read more

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